Definitions & Glossary
Plain-English definitions of the loan and consumer-credit terms you'll see on lendinblue.com and in any lender's Truth-in-Lending disclosure.
Borrowing has its own vocabulary. Here are the terms that matter when you read a loan offer.
APR (Annual Percentage Rate)
The annual cost of a loan, expressed as a percentage. Includes interest plus most fees. For short-term loans, APR can look surprisingly high because a small finance charge over a two-week term annualizes to a large number. The Truth-in-Lending Act requires lenders to state APR in writing before you sign.
Finance charge
The total dollar amount the loan will cost you over its life — interest plus all fees the lender includes. Compare this number alongside APR.
Principal
The amount you borrow, before interest or fees.
Term
The length of time you have to repay the loan. Short-term loans typically have terms measured in weeks; installment loans typically have terms measured in months.
Origination fee
A one-time fee some lenders charge to set up the loan. May be deducted from the loan amount before disbursement (so you receive less than principal) or added to the total balance you repay.
Late fee
Charged when a payment is late. Amount, grace period, and trigger are specified in the loan contract.
NSF fee
"Non-Sufficient Funds" fee, charged by your bank (and sometimes the lender) when a payment attempt fails because the account doesn't have enough money. Often $25–$35 per occurrence.
Hard inquiry vs. soft inquiry
A soft inquiry doesn't affect your credit score and typically isn't visible to other creditors. A hard inquiry (sometimes called a "hard pull") happens when a lender pulls a full consumer report to make a credit decision; it's visible to other creditors and may slightly lower your score.
Truth in Lending Act (TILA)
Federal law (15 U.S.C. § 1601 et seq.) that requires lenders to disclose APR, finance charge, total of payments, and the payment schedule before you sign a loan contract. The disclosure is sometimes called a "TIL statement" or "Reg Z disclosure."
Military Lending Act (MLA)
Federal law (10 U.S.C. § 987) that caps the Military Annual Percentage Rate of consumer credit extended to active-duty service members and their dependents at 36%. The cap is inclusive of fees and charges.
FCRA (Fair Credit Reporting Act)
Federal law (15 U.S.C. § 1681 et seq.) that governs how consumer reports are collected, used, and shared. Gives you the right to dispute inaccuracies and obtain free copies of your reports.
CCPA / CPRA
California Consumer Privacy Act (and the California Privacy Rights Act amending it) — privacy laws giving California residents rights over their personal information. See our California Privacy Notice.
State-licensed lender
A lender that holds a license under the consumer-credit laws of a specific U.S. state. State-licensed lenders are subject to that state's interest-rate caps and disclosure rules.
Tribal-sovereign lender
A lender that operates under the law of a federally-recognized Native American tribe and asserts tribal sovereign immunity. Tribal-sovereign lenders may charge rates that exceed individual state caps.
Aggregator
A company that receives a loan request and forwards it to multiple downstream lenders or other aggregators in their own network. lendinblue.com forwards to direct lenders as well as aggregators.
Lead-generation service
A company (like lendinblue.com) that connects consumers with lenders but does not itself lend money or make credit decisions.
Suppression list
A list of email addresses and phone numbers that have opted out of marketing communications. lendinblue.com maintains a suppression list — see our Unsubscribe page.