Pfin (with Mindtap, 1 Term Printed Access Card) (mindtap Course List)
7th Edition
ISBN: 9780357033609
Author: Randall Billingsley, Lawrence J. Gitman, Michael D. Joehnk
Publisher: Cengage Learning
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Chapter 6, Problem 6LO
Summary Introduction
To discuss: The steps to be taken by Person C to improve the FICO score.
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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?
Which of the following would result in a soft credit inquiry?
mortgage loan application
O background check for employment
credit card application
car loan application
Chapter 6 Solutions
Pfin (with Mindtap, 1 Term Printed Access Card) (mindtap Course List)
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Similar questions
- . if you are unable to pay your credit card bills what can you do?arrow_forwardWhich one of the following is an indirect cost of bankruptcy? The fees that creditors need to pay to their lawyers to help them recover their credit Court fees Administrative delays that creditors experience in recovering their money Workers spending their time searching for alternative employment opportunitiesarrow_forwardWhat are the ways to escape financial fraud? And why is it important to prevent it? Please include references.arrow_forward
- When you borrow money to pay for goods and services, you are using what form of payment? Savings Credit Cash Bankruptcyarrow_forwardWhat are some fees that you can should be looking at BEFORE applying for a credit card?arrow_forwardWhat rules are in place to protect consumers' financial information?arrow_forward
- 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…arrow_forwardWhy should you and should not sign a personal guarantee for a business loan?arrow_forwardProvide an example of each of the following; Conspicuous consumption Information you will need to fill out an application to rent an apartment A government agency you can contact to file a fraud complaint A way to prevent fraud on your credit card A way to protect yourself from identity theftarrow_forward
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