Obtaining credit begins with you. After you complete a credit application, the lender decides if you are a good risk. Agencies that collect credit information about individuals are called credit bureaus. For a fee, they provide information about you that lenders need to decide if you are a good risk. The information you provide on your application is checked against the information the credit bureaus have collected about you. Why is your credit application approved or denied? DENIED 0000 SORRY! to you fra C cand hand Collateral Physical appearance Character Political affiliation Marital status Capacity e yo yhing ring you Bestar lates Onge y Bad news-your credit application was denied. What are the major factors about you that the lender used to evaluate your creditworthiness? Check all that apply. Select reasons why you were probably turned down for credit. Check all that apply. Large amount of available credit relative to income False or misleading information on your application Debt safety ratio less than 10% Inaccurate credit report that reflects a poor credit history One late credit payment in five years in an otherwise current payment pattern FICO score greater than 850 History of personal bankruptcy Application error-for instance transposed figure in street address (for example, 124 Main St. instead of 142 Main St.); all other information is accurate
Obtaining credit begins with you. After you complete a credit application, the lender decides if you are a good risk. Agencies that collect credit information about individuals are called credit bureaus. For a fee, they provide information about you that lenders need to decide if you are a good risk. The information you provide on your application is checked against the information the credit bureaus have collected about you. Why is your credit application approved or denied? DENIED 0000 SORRY! to you fra C cand hand Collateral Physical appearance Character Political affiliation Marital status Capacity e yo yhing ring you Bestar lates Onge y Bad news-your credit application was denied. What are the major factors about you that the lender used to evaluate your creditworthiness? Check all that apply. Select reasons why you were probably turned down for credit. Check all that apply. Large amount of available credit relative to income False or misleading information on your application Debt safety ratio less than 10% Inaccurate credit report that reflects a poor credit history One late credit payment in five years in an otherwise current payment pattern FICO score greater than 850 History of personal bankruptcy Application error-for instance transposed figure in street address (for example, 124 Main St. instead of 142 Main St.); all other information is accurate
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
Related questions
Question
Transcribed Image Text:Obtaining credit begins with you. After you complete a credit application, the lender decides if you
are a good risk.
Agencies that collect credit information about individuals are called credit bureaus. For a fee,
they provide information about you that lenders need to decide if you are a good risk. The
information you provide on your application is checked against the information the credit bureaus
have collected about you.
Why is your credit application approved or denied?
DENIED
0000
SORRY!
to you
fra
C cand hand
Collateral
Physical appearance
Character
Political affiliation
Marital status
Capacity
e
yo
yhing
ring you
Bestar
lates
Onge
y
Bad news-your credit application was denied. What are the major factors about you that the
lender used to evaluate your creditworthiness? Check all that apply.
Select reasons why you were probably turned down for credit. Check all that apply.
Large amount of available credit relative to income
False or misleading information on your application
Debt safety ratio less than 10%
Inaccurate credit report that reflects a poor credit history
One late credit payment in five years in an otherwise current payment pattern
FICO score greater than 850
History of personal bankruptcy
Application error-for instance transposed figure in street address (for example, 124
Main St. instead of 142 Main St.); all other information is accurate
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