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Xenia has had access to credit since she was 17 because her parents made her an authorized user on their credit card. As an authorized user on their account, she benefited from her parent's diligent credit card habits. She also has a few student loans in college that she will start repaying after she graduates. Here are some details about her for the profile: Item She currently has 1 credit card She got ther first credit card only four years ago but her report says she has had it for 15 years because her parents had it first.. This is a great credit score hack; she benefits from the fact that her parents had this credit card for 15 years. She got her first student loan 3 years ago GIFT CONT not voor Improve or decrease credit score

Xenia has had access to credit since she was 17 because her parents made her an authorized user on their credit card. As an authorized user on their account, she benefited from her parent's diligent credit card habits. She also has a few student loans in college that she will start repaying after she graduates. Here are some details about her for the profile: Item She currently has 1 credit card She got ther first credit card only four years ago but her report says she has had it for 15 years because her parents had it first.. This is a great credit score hack; she benefits from the fact that her parents had this credit card for 15 years. She got her first student loan 3 years ago GIFT CONT not voor Improve or decrease credit score

PFIN (with PFIN Online, 1 term (6 months) Printed Access Card) (New, Engaging Titles from 4LTR Press)
PFIN (with PFIN Online, 1 term (6 months) Printed Access Card) (New, Engaging Titles from 4LTR Press)
6th Edition
ISBN:9781337117005
Author:Randall Billingsley, Lawrence J. Gitman, Michael D. Joehnk
Publisher:Randall Billingsley, Lawrence J. Gitman, Michael D. Joehnk
Chapter6: Using Credit
Section: Chapter Questions
Problem 1FPE
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PERSONAL FINANCE Xenia has had access to credit since she was 17 because her parents made her an authorized user on their credit card As an authorized user on their account, she benefited from her parent's diligent credit card habits, She also has a few student loans in college that she will start repaying after she graduates. Here are some details about her for the profile: Improve or decrease credit Item Score She currently has 1 credit card She got her first credit card only four years ago but her report says she has had it for 15 years because her parents had it first. This is a great credit score hack; she benefits from the fact that her parents had this credit card for 15 years. She got her first student loan 3 years ago She has recerved one student loan in the last year She got that student loan ovrer sıx months ago Only her three student loans carry a balance, since she and her parents alvways pay the credit card bill off in full every month She has $10,000 currently outstandıng on her student loans She (and her parents) have never missed a payment None of her loans or credit cards are past due (and her parents are always on time with their credit card) Since she and her parents pay off the bill every month, she has $0 balance She has never gone through a bankruptcy or other negative proceeding
Transcribed Image Text:PERSONAL FINANCE Xenia has had access to credit since she was 17 because her parents made her an authorized user on their credit card As an authorized user on their account, she benefited from her parent's diligent credit card habits, She also has a few student loans in college that she will start repaying after she graduates. Here are some details about her for the profile: Improve or decrease credit Item Score She currently has 1 credit card She got her first credit card only four years ago but her report says she has had it for 15 years because her parents had it first. This is a great credit score hack; she benefits from the fact that her parents had this credit card for 15 years. She got her first student loan 3 years ago She has recerved one student loan in the last year She got that student loan ovrer sıx months ago Only her three student loans carry a balance, since she and her parents alvways pay the credit card bill off in full every month She has $10,000 currently outstandıng on her student loans She (and her parents) have never missed a payment None of her loans or credit cards are past due (and her parents are always on time with their credit card) Since she and her parents pay off the bill every month, she has $0 balance She has never gone through a bankruptcy or other negative proceeding
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