Personal Finance Tax Update
13th Edition
ISBN: 9780357438947
Author: E. Thomas Garman; Raymond Forgue
Publisher: Cengage Learning US
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Question
Chapter 6.3, Problem 4CC
Summary Introduction
To indicate: Two thingsto improve lousy FICO credit score.
Introduction:Credit score: Credit score is a numerical term obtained by a credit bureau after studying credit files of a person. A good credit score helps a person in getting a loan from the bank.
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Explain what a credit score is. What are the three MOST IMPORTANT things I can do to increase my credit score.
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PLEASE CITE REFERENCES.
How can I manage keep my credit score high?
Chapter 6 Solutions
Personal Finance Tax Update
Ch. 6.1 - Prob. 1CCCh. 6.1 - Prob. 2CCCh. 6.1 - Prob. 3CCCh. 6.1 - Prob. 4CCCh. 6.2 - Distinguish among the continuous debt method,...Ch. 6.2 - Prob. 2CCCh. 6.2 - Prob. 3CCCh. 6.2 - Prob. 4CCCh. 6.3 - Prob. 1CCCh. 6.3 - Prob. 2CC
Ch. 6.3 - Prob. 3CCCh. 6.3 - Prob. 4CCCh. 6.3 - Prob. 5CCCh. 6.4 - Prob. 1CCCh. 6.4 - Prob. 2CCCh. 6.4 - Prob. 3CCCh. 6.4 - Distinguish between Chapter 7 and Chapter 13...Ch. 6 - Prob. 1DTMCh. 6 - Buying a Vacation Home. Barrie and Inga Adlington,...Ch. 6 - Prob. 3DTMCh. 6 - The Johnsons Attempt to Resolve Their Credit and...Ch. 6 - Victor and Maria Advise Their Niece Victor and...Ch. 6 - Julia Price Thinks About a Loan to Buy an Inboard...Ch. 6 - Prob. 4FPCCh. 6 - Cousins Discuss Their Debt Situations Melinda...Ch. 6 - Prob. 6FPC
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- 4) Describe the difference between a hard inquiry and a soft inquiry. Give an example of each and explain how they impact your credit report/score. 5) Discuss 5 areas in life where your credit score could be checked and thus impact the purchase/event? 6) Describe the 5 C's of credit. What is the most important action to building your character, one of the 5 C's.arrow_forwardWhat is the range of possible credit scores. Give examples of bad, average, excellent credit scores.arrow_forwardWhich of the following credit terms would be more generous to your customers: n/30 or n/eom?arrow_forward
- Which of the following is TRUE about Credit Score / FICO Score: Group of answer choices the lower the number, the better chances to obtain credit at a very low cost randomly assigned number; Experian, Equifax, and TransUnion use to monitor Covid-19 tracing typically between 1 and 10; calculated from the highest value assigned by the government typically between 300 and 850; calculated from your credit report to gauge your reliability as a borrowerarrow_forwardWhat are the four things that affect your card-based credit costs?arrow_forwardWhy do we need to check the credit worthiness of credit customers before granting their credit application?arrow_forward
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