Categories Credit Card

Which Is A Desirable Characteristic To Look For When Choosing A Credit Card? (Perfect answer)

What to look for in a credit card?

  • The general rule for credit card applicants planning to carry balances on their new cards is: The longer the low- or no-interest period, the better. Look for credit cards with 0% APR periods lasting at least 15 months, and preferably even longer.

What should I look for when choosing a credit card?

Here’s a checklist of some things to look at when you choose a credit card:

  • Annual Percentage Rate (APR). This is the cost of borrowing on the card, if you don’t pay the whole balance off each month.
  • minimum repayment.
  • annual fee.
  • charges.
  • introductory interest rates.
  • loyalty points or rewards.
  • cash back.

What is easy access credit?

Easy access credit refers to very short-term and usually very high interest loans. It’s a fancy way of saying payday loans, pawn shop transactions, or title loans.

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Which information can be found on a person’s credit report?

What Does a Credit Report Include? The information that appears on your credit report includes: Personal information: Your name, including any aliases or misspellings reported by creditors, birth date, Social Security number, current and past home addresses, phone numbers, and current and past employers.

Which is an example of easy access?

Pawnshops, payday loans, rent-to-own, and title loans are all examples of easy access credit and how people can get fast cash. Using these services can make a bad financial situation worse, and habitually using them can create a cycle of bad debt that can be difficult to escape. 15.

What should you consider when comparing credit cards quizlet?

You can use a grace period to your advantage by​ making: higher, there is no grace period, and there may be a transaction fee of 1 or 2% of the advance. Factors to consider when comparing credit cards​ are: ​ acceptance by​ merchants, interest​ rate, annual fee and maximum limit.

When comparing credit cards What should you look at quizlet?

. between 15 to​ 20%. Factors to consider when comparing credit cards​ are: acceptance by​ merchants, interest​ rate, annual fee and maximum limit.

Which best describes a secured credit?

Secured credit is backed by an asset equal to the value of a loan, while unsecured credit is not guaranteed by a material object. Which best describes a way people can use personal loans? payment history and total debt.

What are three common types of credit cards?

There are three types of credit card accounts: bank-issued credit cards (such as Visa and MasterCard ), store/priority cards (such as the Bay and Sears) and travel/entertainment cards, also called charge cards (such as American Express or Diner’s Club).

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Which statement best describes the role of a credit agency quizlet?

Which statement best describes the role of a credit agency? It tracks the use of credit for lenders. What do borrowers use to secure a mortgage loan?

What information can be found on a person’s credit report Brainly?

They report the type of account (bankcard, auto loan, mortgage, etc), the date you opened the account, your credit limit or loan amount, the account balance and your payment history.

What information can be found on a person’s credit report quizlet?

-Personal Information: Name and aliases, current and past adresses, Social Security Number, DOB, and employment history. -Accounts Summary: Types of accounts, date the account was opened, credit limit or loan amount, account balence, and payment history, including missed or late payments.

Who looks at your credit report and why?

Current or potential creditors — like credit card issuers, auto lenders and mortgage lenders — can pull your credit score and report to determine creditworthiness as well. Credit history is a major factor in determining (a) whether to give you a loan or credit card, and (b) the terms of that loan or credit card.

What is an easy access credit quizlet?

easy-access credit. short term loans not based on credit history that typically have higher interest rates. grace period. the extra amount of time given to make a credit payment without penalty.

What does easy access mean?

Easy Access means access is not obstructed by other equipment and the fitting can be removed and replaced with a minimum of tools without risk of breakage of the attachment parts.

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What does easy access do?

It lets you set up an account that the computer is then associated with. You can then see computers on that account that are online, and simply double click on it to connect to it. You can activate easy access for a device in TeamViewer full version settings.

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