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Establishing Credit Flashcards | StudBud

Explore/Establishing Credit

Establishing Credit

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Questions 5

Answers

1
You have been granted a loan and need to establish character
Make regular payments at designated times
Save up your payments and present the bank with a lump sum
Surprise the bank with payments at odd intervals
Pay what you can when you can
2
How would you go about establishing credit?
Take out a personal loan regardless of the terms.
Take an expensive trip to prove you can handle lg amts of $
Pay cash for everything.
Find a loan with good terms and someone to cosign
3
You need to establish capital
Take out a loan.
Get a cash advance.
Save money in the bank.
Avoid using cash.
4
You have found an unauthorized charge on your credit card. What should you do?
Pay it to maintain your credit rating.
Ignore it for a month in case it is retracted.
Follow procedure to dispute it with the credit card company.
Report the credit card company to the government.
5
You've taken out a loan with your guitar as collateral. How can you protect it and your credit
Make monthly payments on your loan
No need—government laws protect collateral from seizure
Sell the guitar to make payments
Hide your guitar