Credit and Loans Answers

What is a benefit of obtaining a personal loan?

The type of credit people are most likely to use for small purchases during their lifetime is

Which describes the difference between secured and unsecured credit?

Consumers who pay more than the minimum payment on credit cards

What best determines whether a borrower’s interest rate on an adjustable rate loan goes up or down?

Read the scenario.Casey has been saving for a new car and is ready to make a purchase. Having a substantial amount to put down as a down payment, Casey approaches the car dealership. The salesperson and the loan officer view Casey's willingness to make a high down payment positively.Why would Casey be considered a lower risk by the lender for planning to make a high down payment?

A way to build good credit is

Which best describes a way people can use personal loans?

principal borrowedoutstanding balanceprojected balance

The chart shows a range of credit scores.

A credit score is based in part on

For which buyer would a lender most likely approve a $200,000 mortgage?

In determining whether to issue a loan, banks are not allowed to ask about an applicant’s

credit cardmortgagetaxbond