Obsolete information
Any form of negative information contained on your credit report that is more than seven years old. Sometimes bankruptcy information does not become obsolete for ten years.

Open account
Any account on a consumer's credit report that is still active and being paid.

Opting out
The consumer's choice of not having their credit information shared with other businesses, such as those credit card companies, mortgage companies and insurance agencies that wish to solicit consumers' business. 

Origination fee
A fee charged by a lender for the cost of processing a loan. The fee pays for things like checking credit, preparing documents, conducting an appraisal, etc.