Assignment Questions free essay sample

Credit and Loans (11. 0 points) Describe a real or made up but realistic situation in which you would want to use installment credit. (Lesson 1, p. 171. 0 point) When you want to purchase new furniture and you make payments over time rather than paying the full price at once. Describe a real or made up but realistic situation in which you would want to use noninstallment credit. (L1, p. 181. 0 point), Describe a real or made up but realistic situation in which you would want to use revolving credit. (L1, p. 91. 0 point) Business trip. Charge all expenses on credit card. Submit expense voucher to employer for reimbursement. Use reimbursment to pay off card. Didnt tie up cash waiting for reimbursement. Plus, I get cash rewards for using the card. If you had no credit history yet but wanted to establish one, describe what you could do in order to establish a credit history. (Lesson 2, p. We will write a custom essay sample on Assignment Questions or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page 32. 0 points) Get a major credit card: Visa, Master Card, amp; Discover. Also, you can take a credit card out for your favorite retail store. Just make sure you never get to close to the credit limit and always make you payments on time. Describe two things you can do to make sure you use credit responsibly. Explain why these things are important. (Lesson 2, p. 5 2. 0 points) The most important thing to remember when using credit is to distinguish between things you need and things you want. Secondly, shop around to find the best deals for your money. These things are important because they can save you money in the long run and not run up frivolous debt. If you were old enough to get a credit card but unable to get one because you didnt have enough of a credit history, which of the alternate options for establishing credit would you prefer to use? Why? (Les. 2, p. 7-91. 0 point) Some ways of establishing credit can be to pay rent for a house/ appartment, paying a car note, getting a credit card and make the payments on time, and/or opening up a bank account. Visit the website for a large bank or credit card company, and learn about a type of credit card being offered by the company. Describe at least four features of the card and where you got this information. (2. 0 points) gt;This offer is for people with a good to excellent credit history which means, among other things, that your credit history is clear of bankruptcy and seriously delinquent accounts gt;Earn $100 Bonus Cash Back after you make $500 in purchases in your first 3 months from account opening gt;0% Intro APR for 15 months on purchases and balance transfers gt;5% Cash Back on up to $1,500 spent between Apr 1 and Jun 30, 2013 at restaurants, movie theaters, and Lowes ® Describe a real or made up but realistic example of a time when you might apply for a loan. (1. 0 point) You want to buy a car, but dont have all of the money you need. Youve never been late on your bills and therefore have good credit, so the bank (or car dealership) allots you an amount of money that you must pay back within a certain amount of time.