Discuss how the three primary credit bureaus (Equifax, Experian & TransUnion) differ in credit scoring? Discuss the credit scoring of FICO. Compare the credit scoring of the three primary credit bureaus with the credit scoring of FICO. Based on the comparison of credit scoring, which you think is better and why? Please justify.

Q: Assume you are offered credit terms from a store you frequently visit. Which of the following credit…

A: We should opt for the payment terms that gives us highest discount and maximum discount period with…

Q: Effective credit management involves establishing credit standards for extending credit to…

A: Annual sales = $396.3 millionAccounts receivable = $47.6 million

Q: In cell F5, insert a lookup function that uses the credit rating to determine the minimum down…

A: To write the formula we need the following information Lookup_Value = C7 Table_array = $A$15:$C$18…

Q: Consumers should comparison shop for credit just as they would for any other consumer good or…

A: The objective of the question is to understand the relationship between a consumer's stage of the…

Q: O $90,000 O $105,000 O $82,500 O$99,000 ustomer paid off the account after 15 days, Sombra Corp.…

A: Discount is the amount to be paid less than stated amount and is given for early payment before due…

Q: What are the advantages and disadvantages of implementing credit scoring within a financial…

A: The credit scoring is calculated by checking the payment history of an individual, credit mix,…

Q: Which of the following is TRUE about Credit Score / FICO Score: Group of answer choices the lower…

A: What is credit score? It is a score that ranges from 300 to 850 and it represents the credit…

Q: based on the statement List down true or false and explain 1. Major part of lending process…

A: The lending process refers to the steps that a lender takes to evaluate a borrower's…

Q: Give an example of consumer credit and explain the process how it is processed from application to…

A: The customer is allowed to ask for credit in case of no availability of funds. The suppliers provide…

Q: If a company is able to estimate the rate of redemption for gift cards, they should use the ________…

A: The objective of the question is to identify the appropriate accounting method for breakage when a…

Q: Which of the following is not a company that can provide you with a look at your credit score? a.…

A: There are three companies given in the question which are working in the credit field: Credit Karma…

Q: What is a sale on credit and why it is needed? Give three examples?

A: Sale on Credit: A sale on credit is revenue earned by a company when it sells goods and allows the…

Q: When selecting a financial institution, you should consider: (select all that apply) fees for…

A: Financial institutions are the entities providing financial services in the nature of accepting…

Q: Credit scoring is the:

A: Credit scoring: It is a statistical analysis done by financial institutions and lenders to decide a…

Q: Your friend Binna has a money market mutual fund​ account, automatic deposit of her paycheck into…

A: The objective of the question is to understand the benefits of using multiple financial institutions…

Q: Which of the following is an advantage of using a credit card? O Your spending is limited to the…

A:

Q: True or False: The amount-owed component of the FICO score includes the proportion of credit…

A: Below is the correct answer

Q: Describe about the trade credit procedure.

A: Trade: Trade refers to buying or selling goods and service in exchange of money or money’s worth.

Q: When a financial decides offer credit, there are certain factors that it will used as a basis for…

A: Financial institutions rely upon four Cs when they process the application for any kind of loan.…

Q: Principles of the credit union in Jamaica with research source

A: The credit union movement in Jamaica is regulated by the Department of Cooperatives and Friendly…

Q: separate account for sales returns and allowances useful to management? If you owned a…

A:

Q: Can you allow credit period for an unknown customer based on the report of a credit rating agency?

A: A credit rating agency report may provide some information that could be used to assess the risk of…

Q: Total Interest Paid. Lloyd and Jean are considering purchasing a home requiring a $100,000 mortgage.…

A: The difference between interest payment of two different maturities can be calculated  Total payment…

Q: One article  regarding  "Credit Transaction" issues and how it was resolved. Make a comment about…

A: To charge whatever they wish for credit. Usury laws set up a greatest pace of legitimate interest.…

Q: In your opinion, do the following Bank Products fall into a Routine, Limited or Extensive product…

A: Routine, limited, and extensive are categories used to describe the level of complexity and…

Q: Explain the trade credit facility provided by some companies to their customers that allow them to…

A: Trade credit Trade credit is a cash discount given to customer by seller to make early payments.…

Q: Debit Cash Credit Other Financing Sources What does this journal entry mean?

A: The meanings  of different journal entries are presented hereunder :

Q: What are the four elements of a credit policy? Briefly explain.

A: Following are the four elements of a credit policy: Credit standards: Consider potential clients by…

Q: Credit availability, paying habits of customers, and rates of return are considered in the Multiple…

A: The screening process is a critical step to identify and evaluate potential opportunities or risks.…

Q: What is the difference between the Metric System and the Imperial? Describe what an Orthographic…

A: As per our guidelines we are supposed to answer only one question (if there are multiple questions…

Q: what is credit and why is it important how do you build your credit how do you check your credit…

A: Credit is a very important part of meeting one’s personal financial objective. It is used by…

Q: Discuss how the three primary credit bureaus (Equifax, Experian & TransUnion) differ in credit…

A: Hey, since there are multiple questions posted, we will answer the first question. If you want any…

Q: Discuss 5 areas in life where your credit score could be checked and thus impact the purchase/event

A: Credit score is a number ranging between  300 to 850 . Credit score of  300 indicates poor rating…

Q: Compare and contrast two credit unions in Jamaica Co-operative credit union and C&WJ Co-operative…

A: Jamaica has a thriving credit union movement with several options available to the public. In this…

Q: Give an overview of the main types of orders you can have within a financial market in terms of…

A: A financial market is a marketplace where financial assets such as stocks, bonds, currencies, and…

Q: 4) Describe the difference between a hard inquiry and a soft inquiry. Give an example of each and…

A: Note: We’ll answer the first question since the exact one wasn’t specified. Please submit a new…

Q: Calculate the amount and the percent of total. Do not round intermediate calculations. Round the…

A: The cost of quality refers to the cost which is incurred in improving the quality of the product or…

Q: 1. Explain the importance of having an Escrow Checklist?

A: Since you have asked multiple question, we will solve the first question for you. If you want any…

Q: Explain the purpose of credit rating. Explain the variables of industry analysis, which is the first…

A: The question based on the need and process of credit rating. Credit rating is process to check the…

Q: List three entities that with legitimate reasons could check your credit report.

A: A credit report is a detailed summary of an individual's credit history. It contains information…