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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Chapter 6, Problem 1FPE
Summary Introduction
To discuss: A plan for Person E that can be used to establish a strong credit history and the impact of student loan on the credit history.
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Establish a credit history. After graduating from college last fall, Holly Baker took a job as a consumer credit analyst at a local bank. From her work reviewing credit applications, she realizes that she should begin establishing her own credit history. Describe for Holly several steps that she could take to begin building a strong credit record. Does the fact that she took out a student loan for her college education help or hurt her credit record?
A friend of yours is graduating college next month. He has had a credit card and student loans for the past few years, but he’s never bothered to check his credit report.
1)Why is it vital that your friend reviews his credit report? How soon would you recommend he does so and why?
2) Which sections of information in his credit report should he pay particular attention to given his situation?
You have been appointed as a loans officer for the local state bank. One day a person walks intothe bank looking for loan to buy a new car. List items about that individual that you should findout before making a decision whether or not to approve the loan.
Chapter 6 Solutions
PFIN (with PFIN Online, 1 term (6 months) Printed Access Card) (New, Engaging Titles from 4LTR Press)
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