Credit reports and Credit scores Terms

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Houston Mortgage > Glossary > Credit reports and Credit scores > P 1-10

Public record
Information on your credit report that has been obtained from court records, such as bankruptcies, judgments, and liens. These are never good.

Punitive rate
In credit card terms, the punitive rate is the highest interest rate the company charges. It can imposed when consumers violate their contract agreements by acts such as paying late or exceeding their credit limits.

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