Personal Finance (MindTap Course List)
13th Edition
ISBN: 9781337099752
Author: E. Thomas Garman, Raymond Forgue
Publisher: Cengage Learning
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Question
Chapter 6.3, Problem 3CC
Summary Introduction
To indicate: Three steps to create a good credit history.
Introduction: Credit describes a system in which goods, services, or money taken in exchange for a promise to repay on a future date. Credit is the relation of trust established between a lender and a borrower.
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List three entities that with legitimate reasons could check your credit report.
Describe the importance of a credit score for financial planning.
List the credit bureaus and list information that is contained in a person's credit report.
Review at least two sources of free credit reports, such as Credit Karma
What are the four elements of a credit policy? Briefly explain.
Chapter 6 Solutions
Personal Finance (MindTap Course List)
Ch. 6.1 - Prob. 1CCCh. 6.1 - Prob. 2CCCh. 6.1 - Prob. 3CCCh. 6.1 - Prob. 4CCCh. 6.2 - Distinguish among the continuous debt method,...Ch. 6.2 - Prob. 2CCCh. 6.2 - Prob. 3CCCh. 6.2 - Prob. 4CCCh. 6.3 - Prob. 1CCCh. 6.3 - Prob. 2CC
Ch. 6.3 - Prob. 3CCCh. 6.3 - Prob. 4CCCh. 6.3 - Prob. 5CCCh. 6.4 - Prob. 1CCCh. 6.4 - Prob. 2CCCh. 6.4 - Prob. 3CCCh. 6.4 - Distinguish between Chapter 7 and Chapter 13...Ch. 6 - Prob. 1DTMCh. 6 - Buying a Vacation Home. Barrie and Inga Adlington,...Ch. 6 - Prob. 3DTMCh. 6 - The Johnsons Attempt to Resolve Their Credit and...Ch. 6 - Victor and Maria Advise Their Niece Victor and...Ch. 6 - Julia Price Thinks About a Loan to Buy an Inboard...Ch. 6 - Prob. 4FPCCh. 6 - Cousins Discuss Their Debt Situations Melinda...Ch. 6 - Prob. 6FPC
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- Define the following using your own words and give examples To credit Debit Creditarrow_forwardWhat is the difference between your credit report and your credit score? What is a good credit score? PLEASE CITE REFERENCES.arrow_forwardExplain what a credit score is. What are the three MOST IMPORTANT things I can do to increase my credit score.arrow_forward
- Discuss, in general, what it means for the brothersto set a credit and collections policyarrow_forwardWhat is the difference between a credit score(FICO) and a credit report. How/where can you check your report? How/where can you check your score?arrow_forwardWhy do we need to check the credit worthiness of credit customers before granting their credit application?arrow_forward
- Describe the steps involve in the lending or credit processarrow_forwardPlease explain each rule of debit and credit.arrow_forwardQuestion: The credit worthiness of a customer is normally checked by the organization's Credit Control Department, before any credit sales is approved. reqiured: state why this process is important?arrow_forward
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