Credit and Loans Answers

The type of credit people are most likely to use for small purchases during their lifetime is

In determining whether to issue a loan, banks are not allowed to ask about an applicant’s

Which statement is true of both mortgages and auto loans?

Which best describes a way people can use personal loans?

Which describes an example of using unsecured credit?

An example of secured credit is a

The simple interest on a loan of $200 at 10 percent interest per year is

A credit score is based in part on

Read the scenario.Casey has been saving for a new car and is ready to make a purchase. Having a substantial amount to put down as a down payment, Casey approaches the car dealership. The salesperson and the loan officer view Casey's willingness to make a high down payment positively.Why would Casey be considered a lower risk by the lender for planning to make a high down payment?

Consumers who pay more than the minimum payment on credit cards