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When a borrower fails to keep up with mortgage payments and the lender takes possession of the property, ___ may result
Medical information
maintain reasonable amounts of available credit
The interest rates on his loan will be higher, since his credit score is low.
Close the account by phone and in writing, then destroy the card.
Once a year, from each of the three main credit reporting agencies
extended as a line of credit established in advance so you do not have to apply for credit each time new credit is desired
foreclosure
Jake has applied for 4 credit cards and a car loan in the past 6‐weeks.
When Bryce attempted to borrow money at the bank, he learned that his credit score is low. Which statement best describes what this is likely to mean for Bryce?
Medical information
maintain reasonable amounts of available credit
The interest rates on his loan will be higher, since his credit score is low.
Close the account by phone and in writing, then destroy the card.
Once a year, from each of the three main credit reporting agencies
extended as a line of credit established in advance so you do not have to apply for credit each time new credit is desired
foreclosure
Jake has applied for 4 credit cards and a car loan in the past 6‐weeks.
Which of the following is NOT included in an individual’s credit report?
Medical information
maintain reasonable amounts of available credit
The interest rates on his loan will be higher, since his credit score is low.
Close the account by phone and in writing, then destroy the card.
Once a year, from each of the three main credit reporting agencies
extended as a line of credit established in advance so you do not have to apply for credit each time new credit is desired
foreclosure
Jake has applied for 4 credit cards and a car loan in the past 6‐weeks.
Jake’s credit application has been declined because of his negative credit history. Which statement is most likely to be true?
Medical information
maintain reasonable amounts of available credit
The interest rates on his loan will be higher, since his credit score is low.
Close the account by phone and in writing, then destroy the card.
Once a year, from each of the three main credit reporting agencies
extended as a line of credit established in advance so you do not have to apply for credit each time new credit is desired
foreclosure
Jake has applied for 4 credit cards and a car loan in the past 6‐weeks.
Open‐end credit is:
Medical information
maintain reasonable amounts of available credit
The interest rates on his loan will be higher, since his credit score is low.
Close the account by phone and in writing, then destroy the card.
Once a year, from each of the three main credit reporting agencies
extended as a line of credit established in advance so you do not have to apply for credit each time new credit is desired
foreclosure
Jake has applied for 4 credit cards and a car loan in the past 6‐weeks.
Edward wants to develop a positive credit history. How should he do this?
Medical information
maintain reasonable amounts of available credit
The interest rates on his loan will be higher, since his credit score is low.
Close the account by phone and in writing, then destroy the card.
Once a year, from each of the three main credit reporting agencies
extended as a line of credit established in advance so you do not have to apply for credit each time new credit is desired
foreclosure
Jake has applied for 4 credit cards and a car loan in the past 6‐weeks.
When may a person view his/her credit report for free?
Medical information
maintain reasonable amounts of available credit
The interest rates on his loan will be higher, since his credit score is low.
Close the account by phone and in writing, then destroy the card.
Once a year, from each of the three main credit reporting agencies
extended as a line of credit established in advance so you do not have to apply for credit each time new credit is desired
foreclosure
Jake has applied for 4 credit cards and a car loan in the past 6‐weeks.
Becky no longer wants to use her Clothes‐R‐Us store credit card. What is the best thing she could do with the credit card?
Medical information
maintain reasonable amounts of available credit
The interest rates on his loan will be higher, since his credit score is low.
Close the account by phone and in writing, then destroy the card.
Once a year, from each of the three main credit reporting agencies
extended as a line of credit established in advance so you do not have to apply for credit each time new credit is desired
foreclosure
Jake has applied for 4 credit cards and a car loan in the past 6‐weeks.
Check it!