ECONOMICS
CREDIT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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use for necessities like gas or groceries, then pay off before the next billing cycle.
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cosign on a credit card with your guardians
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buy a new outfit and only pay the minimum balance each month
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only spend what you can afford
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Detailed explanation-1: -Three common credit problems are: Lack of enough credit history. Denied credit application. Fraud and identity theft.
Detailed explanation-2: -Pay your bills on time Prioritize and schedule your monthly payments, making sure to pay at least the minimum payment on time every month on all your accounts. Try to pay more than what’s due whenever possible. This helps to pay down debt faster, save on interest expense and may improve your credit score.
Detailed explanation-3: -Failing to Establish Credit. You can’t build credit, Harrah points out, unless you establish it in the first place. Making Late Payments. Using Too Much Credit. Using Only Credit Cards. Canceling Old Credit Accounts.
Detailed explanation-4: -Pay bills on time. Lenders consider payment records to help determine your reliability. Maintain employment and/or primary residence for 2 or more years. Lenders use this information to help determine your stability. Review your credit report. Regularly review for unauthorized activity and errors. Report issues immediately.