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Credit and Debit Cards

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Joe Oberbrunner

Lvl 10
โˆ™ 2021-10-08 18:34:34
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Cards in this guide (21)
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.

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

added to the balance

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

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 protects you when applying to receive credit

Equal Credit Opportunity Act

What protects you when applying to receive credit

Calculate the finance charge on a credit card balance of 3,299.19 at a monthly rate of 1.2%.

Which of these would not be included on a loan application

your educational background

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

What equations shows how installment loans are calculated

amount financed = cash price - down payment

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.

The fdic was created after the Great Depression with the passage of which act

glass-steagall act

What is a Grace period in an insurance policy

Grace period is a provision given to policyholder to pay premium in next 30 days.When he fails to pay it before the due date, this time period of 30 days is called grace period.

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

14.4 %. A+

How is a finance charge calculated

multiply the unpaid balance by the monthly interest-rate

V O I D

V O I D

Which of the following is the best description of a consumer good

It is something tangible that can be touched or carried

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

Related study guides

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

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

Which of these is the best description of delinquency

How long will credit inquiries remain on your credit report

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

How long does a bankruptcy stay on a credit report

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

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

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

How long does a bankruptcy stay on a credit report

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

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

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How many miles do Americans drive per day

What institution insures individual banking accounts

Which of these is the best description of fixed expenses

Calculate the simple interest you would receive in five years on a savings account that earns 7.5 percent annual interest What if your beginning balance is 1236.59

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What is going green

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

Which of these is the best description of delinquency

How long will credit inquiries remain on your credit report

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