Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Please answer these following questions. Thank you. QUESTION 3 Match the correct explanations for the given terms below. - a Student A' These cards are

image text in transcribed

Please answer these following questions. Thank you.

image text in transcribed
QUESTION 3 Match the correct explanations for the given terms below. - a Student A' These cards are usually easier to qualify for, as applicants often have little or no credit history. - a Reward B ' Require some collateral security and often used by those trying to improve - a Secured credit history. _ - - C-These cards accumulate points, cash back or service benefits for the card Alnlty holder '3' These cards provide benefits at the associated organization, such as a post- secondary institution, charitable organization, arts or cultural group. QUESTION 4 Check all of the functions below, that credit bureaus serve. 0 Provide information to prospective creditors about the individual's credit history. 0 Only creditors can access the information about an individual. 0 The most prominent credit bureaus in Canada are Equifax and TransUnion. Q It doesn't matter how many times you apply for different credit, as that does not affect your credit rating. QUESTION 5 Which of the following is false? 0 Bankruptcy is a process that may provide relief to honest borrowers from their debt obligations. O A bankruptcy will not impact an individual's ability to obtain credit. 0 Bankruptcy reports are maintained at a credit bureau for 6 years. C Consumer and commercial proposals are made to extend credit repayment terms, or to repay only a percentage of the outstanding balance, or both

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Fundamentals of Multinational Finance

Authors: Michael H. Moffett, Arthur I. Stonehill, David K. Eiteman

5th edition

205989756, 978-0205989751

More Books

Students also viewed these Finance questions

Question

_____ 3. the top line of a business

Answered: 1 week ago