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Charge-off. A charge-off or chargeoff is a declaration by a creditor (usually a credit card account) that an amount of debt is unlikely to be collected. This occurs when a consumer becomes severely delinquent on a debt. Traditionally, creditors make this declaration at the point of six months without payment. A charge-off is a form of write-off .
Psychological pricing (also price ending or charm pricing) is a pricing and marketing strategy based on the theory that certain prices have a psychological impact. In this pricing method, retail prices are often expressed as just-below numbers: numbers that are just a little less than a round number, e.g. $19.99 or £2.98. [ 1]
Hawthorne effect. The Hawthorne effect is a type of human behavior reactivity in which individuals modify an aspect of their behavior in response to their awareness of being observed. [ 1][ 2] The effect was discovered in the context of research conducted at the Hawthorne Western Electric plant; however, some scholars think the descriptions are ...
Consumer credit card net charge-offs have gradually risen since the Federal Reserve began raising interest rates in 2022. Credit Card Net Charge-Offs Are Rising. Here's Why Banks Aren't Too Concerned.
Conjunction fallacy. The conjunction fallacy (also known as the Linda problem) is an inference that a conjoint set of two or more specific conclusions is likelier than any single member of that same set, in violation of the laws of probability. It is a type of formal fallacy .
Contingent fee. A contingent fee (also known as a contingency fee in the United States or a conditional fee in England and Wales) is any fee for services provided where the fee is payable only if there is a favourable result. Although such a fee may be used in many fields, it is particularly well associated with legal practice .
But interest in Maybank’s Islamic financing services took off in the years following the Asian Financial Crisis of 1997–98, and then again after the Global Financial Crisis of 2007–08.
Surcharge (payment systems) A surcharge, also known as checkout fee, is an extra fee charged by a merchant when receiving a payment by cheque, credit card, charge card or debit card (but not cash) which at least covers the cost to the merchant of accepting that means of payment, such as the merchant service fee imposed by a credit card company. [1]