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Business, 18.11.2019 07:31 madelineb6243
Question 1 (3 points)
match each description with the correct term.
question 1 options:
revolving credit
credit score
non-installment credit
credit history
credit
installment credit
1.
when you're approved to borrow up to a specific credit limit and you can choose how much to use and when to pay it off.
2.
one part of a credit report.
3.
credit paid back all at once, in a single payment.
4.
a commitment to pay for something in the future.
5.
a commitment to pay back a specific amount in a specific number of equal payments.
6.
a number that tells lenders how likely you are to make payments on time.
question 2 (3 points)
match each description with the correct term.
question 2 options:
open a bank account
co-signing
debt settlement program
bankruptcy
better business bureau (bbb)
default
1.
an organization that reports on the reliability and ethics of companies and other organizations.
2.
programs that claim they can get you out of debt by negotiating the debt to lower amounts and working out a payment plan.
3.
legal action filed when you can't pay back creditors and puts your finances under court supervision.
4.
failure to make a payment.
5.
the first step in establishing credit.
6.
an alternative to establishing credit if unable to get a credit card.
question 3 (3 points)
match each description with the correct term.
question 3 options:
loan
advantages of credit cards
annual percentage yield (apy)
fees and interest
annual percentage rate (apr)
1.
money you borrow from a person or organization with a commitment to pay back the amount in full.
2.
annual interest rate that accounts for compounding.
3.
disadvantages of credit cards.
4.
incentive programs, protection, and building credit.
5.
annual interest rate that does not account for compounding.
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Question 1 (3 points)
match each description with the correct term.
question 1 op...
match each description with the correct term.
question 1 op...
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