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Credit and Debit Cards

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Rafaela Morissette

Lvl 9
โˆ™ 2021-10-10 18:35:20
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Cards in this guide (26)
How soon after you are denied credit must you receive notice both verbally and by letter

If you are denied credit, the Equal Credit Opportunity Act requires that the creditor give you a notice that tells you the specific reason your application was rejected or the fact that you have the right to learn the reason if you ask within 60 days. If your credit application was due to information obtained from your credit report, the Fair Cedit Reporting Act requires the creditor to give you the name, address and phone number of the credit reporting agency that supplied the information. The credit reporting agency can tell you what is in your report but only the creditor can tell you why your applicaton was denied.

How long will negative information concerning your use of credit be kept in your credit report

Seven years is a common period of time. You should not try to pay up on old accounts, but for those within the last couple of years, see if you can call the company and settle the account so that it will be marked as paid rather than written off. Check to see if any negative information, such as from apartments or utilities, is inaccurate. If so, contact them and get a signed, letterhead, letter saying the account is paid. Then, send that to all of the credit bureaus. Definitely keep the letter in your file for years to come - zombie collectors are always out there. Finally, pay everything on time going forward. Sometimes it is helpful to signup for automatic billpay to keep things timely.

Which of these is the best description of delinquency

It is the condition whereby the scheduled repayment of a loan has not been received by a specified due date.

How long will credit inquiries remain on your credit report

2 years

What is done with the finance charge assessed by a credit card company

added to the balance

Which term refers to the person business or institution that extended a loan to you

Creditor

Sam is a chef He has a savings account of 500 and a car worth 7569 He owes 450.23 on his new stereo Calculate Sam's net worth

7618.77

Colin needs to borrow 1500 for car repairs How much interest will he pay if the rate is 4.9 percent and he has 125 days to repay the loan Be sure to round the time to the nearest hundredth Example

24.99

Calculate the simple interest on a loan with a principal of 6.000 an interest rate of 7.39 percent and a term of four years

1,773.60

What does principal mean in math terms

principal(in terms of math)- the amount you borrow or deposit

Which of these is a signed promise to pay back a loan

promissory note

Which of these is not included on a credit card statement

credit score

Which of these methods has the highest finance charge charging a flat rate fee charging the unpaid balance charging the previous balance charging the average daily balance

Charging the previous balance

What type of lease could result in the customer paying hundreds or thousands of dollars if the residual value is less than expected at the end of the term

Open ended lease

Would not result from defaulting on a loan

Imprisonment

Which of these is not a way in which credit card companies assess finance charges

some place a fee on the average yearly balance . ( A+ )

What is allowed by the creditor when you apply for credit

asking for your social security number

Is there a payday loans website for Christians

Yes, there are some websites for payday loans for Christians, some examples are: Christian Faith Financial-Christian Payday Loans, Payday Loans Apply and ChristianNet.

What equations shows how installment loans are calculated

amount financed = cash price - down payment

What describes a annual percentage rate

A measure of the cost of credit expressed as a yearly interest rate.

What is a type of fee that a credit card company might charge

credit limit fee

If nancy pays her bank 465.23 a month for 48 months how much will she have paid on her installment loan-

If Nancy pays her bank 465.23 a month for 48 months, the amount paid on every installment would be 116.3075/n where n is the amount.

Calculate the annual interest rate on a credit card if the monthly interest rate is 1.2.

14.4 %. A+

If Cameron has a 21 annual interest rate on his credit card what is his monthly interest rateAsk us anything

1.75%. A+

V O I D

V O I D

Hank purchased a new grill for $349 on his credit card. He had a previous balance of $225.91. A finance charge of $8.62 was assessed. What is his new balance

583.53

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How soon after you are denied credit must you receive notice both verbally and by letter

How long will negative information concerning unpaid tax liens be kept in your credit report

How long will credit inquiries remain on your credit report

What is done with the finance charge assessed by a credit card company

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