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3 years ago

What can a person do to help increase their credit score?

Business

2 answers:

Sergio [31]3 years ago

7 0

An individual do to help increment their credit rating to Use just a little level of your credit limit.

Further Explanation:

Diminish the measure of obligation you owe :

Pay off obligation as opposed to moving it around: the best method to improve your credit assessments here is by squaring away your rotating (charge card) obligation. Actually, owing a similar sum yet having less open records may bring down your scores.

Ventures to Improve Your Credit Scores :

1. Pay Your Bills on Time. ...

2. Get Credit for Making Utility and Cell Phone Payments on Time. ...

3. Pay off Debt and Keep Balances Low on Credit Cards and Other Revolving Credit. ...

4. Apply for and Open New Credit Accounts Only as Needed. ...

5. Don't Close Unused Credit Cards.

effects credit rating the most:

Skipping installments or paying your Visa late can adversely affect your financial assessment. Paying your bills on schedule, each time is a key method to help improve your financial assessment. Striking the correct harmony between sorts of credit can improve your FICO assessment.

Subject: business

Level: High School

Keywords: Diminish the measure of obligation you owe, Ventures to Improve Your Credit Scores, effects credit rating the most,

Related links:

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Vedmedyk [2.9K]3 years ago

7 0

Option (A) is correct.

<u>A person can charge all monthly expenses to the same credit card to increase his/her credit score. </u>

Further Explanation:

Credit score: A credit score represents the creditworthiness of an individual based on their financial transaction history. If a person has a sound and on-time payment records, then he would have a high credit score and vice versa.

Low credit score means that a person is not paying their bills and dues on time. The credit score is used by the lenders to assess the capability of the borrower to repay the debt. Generally, lenders do not prefer to lend money to the person with a low credit score.

Maintaining a high credit score:

A high credit score can be achieved in the following cases:

• The Payment of the minimum credit card dues on time.

• The advance payment of the entire balance.

• Lump-sum payment of the total credit card balance

• Increase the use of the credit card.

Justification for the correct and incorrect options:

Charge all monthly expenses to the same credit card: This is the correct option.

When the cardholder spends all monthly expenses form his/her credit card, the credit card utilization rate increases. The credit score increases in case of increase in the use of the credit card and timely payment of the dues.

Use only a small percentage of your credit limit: This is an incorrect option.

The use of a small portion of the credit limit would not help in the increase in the credit score because the credit card should be used more often to increase the payment.

Research student loan terms online: This is an incorrect option.

Research for loans does not affect the credit score.

Open a saving account at a bank: This is an incorrect option.

The bank account has the savings of a person. It does not deal in the credit card. Therefore, it cannot be used for increasing the credit score of an individual.

Learn more:

1. Learn more about the activity preferred for buying a car on installments

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2. Learn more about maintaining the high credit score

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3. Learn more about various approaches to increase the credit score

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Answer details:

Grade: High School

Subject: Business Studies

Chapter: Money & Banking

Keywords: What can a person, help, increase, their, credit score, charge, monthly, expenses, same, credit card, use only, small percentage, your, credit limit, research, student, loan, terms, online, open, savings account, at a bank.

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In the ethical decision making process, moral imagination is used by decision makers while ________.

lapo4ka [179]

In the ethical decision making process, moral imagination is used by decision makers while they consider available alternatives to make an effective decision.

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2 years ago

Deirdre was given a raise on her one-year anniversary as a sales assistant. She had not met her monthly goals for the last three

Drupady [299]

Answer:

The answer is: This is an example of real culture practices

Explanation:

An ideal culture are the practices and norms a culture should or is supposed to follow. In an organization everyone should have a positive attitude, work hard, fulfill their goals, etc. But in real life, or real culture, things never happen that way. Real culture are the practices and norms a culture actually follow. In this case, the organization actually valued more the fact that Deirdre spent one year with them and gave her a raise, than the fact that she is not a very good employee.

There is always a gap between an ideal culture and the real culture. People like to preach a lot but they don't always like to follow what they preach.

7 0

4 years ago

Which of the following is interest meant to do?

schepotkina [342]

Answer;

bring profit the lender

Explanation;

-Interest is the charge for the privilege of borrowing money, typically expressed as annual percentage rate. To the borrower it is the cost of renting money, to the lender the income from lending it.

-The rate of interest is usually expressed as an annual percentage of the principal, and is influenced by the money supply, fiscal policy, amount being borrowed, creditworthiness of the borrower, and rate of inflation.

-Interests influence the cost of borrowing, the return on savings, and are an important component of the total return of many investments.

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3 years ago

Read 2 more answers

An investor places $5,000 in an account. The stated annual interest rate is 6% compounded monthly. The value of the account at t

Nostrana [21]

Answer:

$5,983.40

Explanation:

Data provided in the question:

Principle amount = $5,000

Interest rate, r = 6% = 0.06

Time, t = 3 years

Compounded monthly i.e number of periods n = 12

Now,

Final amount = Principle × $\left( 1 + \frac{r}{n} \right)^{\Large{n\times t}}$

Final amount = $5,000 × $\left( 1 + \frac{0.06}{12} \right)^{\Large{12\times3}}$

Final amount = $5,000 × 1.005³⁶

Final amount = $5,000 × 1.196

Final amount = $5,983.40

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3 years ago

Unconventional monetary policy, followed during and after the financial crisis and recession 2007-present does NOT include which

Levart [38]

Answer:

The correct answer is A. expanding open market purchases and the money supply even when short-term interest rates are zero, C. purchase of assets other than government bonds, D. providing 'forward guidance' about future short-term interest rates to influence expectations of future long-term interest rates.

Explanation:

An unconventional monetary policy is one that uses unusual mechanisms to reactivate the economy and maintain economic-financial stability.

Unconventional or non-standard monetary policy are those unusual mechanisms. They are often used in times of deep crisis, when conventional monetary policy is not enough. Initially, the central bank modifies basic parameters such as interest rates. If this has no effect on the economy, then turn to more aggressive policies.

Beyond the objectives of monetary policy in general, unconventional monetary policy pursues its own. Its objectives are:

Provide or drain liquidity with more powerful mechanisms.
Maintain the proper functioning of the financial markets.

It is also important that among the unconventional measures, there are modified conventional measures. For example, as an unconventional measure, the central bank can modify the maturities of a conventional monetary policy instrument.

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3 years ago