Term
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Definition
| Provide emergency funds, convienient shopping, safe shopping |
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Term
| 3 disadvantages of credit |
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Definition
| Reduces compartive shopping, sometimes costs more than cash, may lead to over consumption (debt) |
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Term
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Definition
| Character, capital, capacity, conditions, collateral |
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Term
| 5 Components of Credit Score |
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Definition
Payment history 35%
Outstanding Debt 30%
Length of time have 15%
Number of inquiries 10%
Types of credit have 10% |
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Term
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Definition
| none, $50 if after illegal use |
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Term
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Definition
| Don't close old credit card accounts just because you're not using them, Pay bills on time, don't open new credit card accounts just to increase |
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Term
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Definition
Debts erased, Certain incomes unaffected (social security), cost is small
damaged credit, propety lost, some obligations remain (income, student loan) |
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