PFIN (with PFIN Online, 1 term (6 months) Printed Access Card) (New, Engaging Titles from 4LTR Press)
6th Edition
ISBN: 9781337117005
Author: Randall Billingsley, Lawrence J. Gitman, Michael D. Joehnk
Publisher: Cengage Learning
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Question
Chapter 6, Problem 11FPE
Summary Introduction
To discuss: The response of Person WS regarding the information asked about credit card details
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Should this person open a credit card account? If they do decide to open the new credit card account, what’s one thing this individual should monitor or use caution?
Should this person open a credit card account? If they do decide to open the new credit card account, what’s one thing this individual should monitor?
Obtaining credit begins with you. After you complete a credit application, the lender decides if you are a good risk.
Agencies that collect credit information about individuals are called credit bureaus. For a fee, they provide information about you that lenders need
to decide if you are a good risk. The information you provide on your application is checked against the information the credit bureaus have collected
about you.
Why is your credit application approved or denied?
ооооо
Good news-your credit application was approved. What are the major factors about you that the lender used to evaluate your
creditworthiness? Check all that apply.
оооо
APPROVED
Physical appearance
Character
Political affiliation
Capacity
Religion
0000
MEGACREDIT
Capital
Extra 199
SIE TEL
Your friend recently applied for credit and was turned down. Why was your friend probably denied credit? Check all that apply.
History of personal bankruptcy
FICO score greater than 850
Absence of checking, savings, or other…
Chapter 6 Solutions
PFIN (with PFIN Online, 1 term (6 months) Printed Access Card) (New, Engaging Titles from 4LTR Press)
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