ECONOMICS
INFLATION
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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has collateral to offer as insurance for the loan
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is trustworthy and has exceptionally good credit
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has no credit history or a job to pay them back
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has a reasonable plan for the money he needs to borrow
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Detailed explanation-1: -Yes, it’s possible to obtain a personal loan without a credit history. That said, you may be faced with higher interest rates and unfavorable loan terms, especially when applying for an unsecured loan.
Detailed explanation-2: -Secured credit cards are a great way to build credit if you have none. These cards are typically easier to qualify for if your credit history is poor or non-existent.
Detailed explanation-3: -The banks might not be willing to lend certain borrowers due to the following reasons: (a) Banks require proper documents and collateral as security against loans. Some persons fail to meet these requirements. (b) The borrowers who have not repaid previous loans, the banks might not be willing to lend them further.
Detailed explanation-4: -Become an Authorized User. If you don’t have a history of managing credit accounts, it can be difficult to get approved for loans or credit cards. Apply for a Secured Card. Apply for a Store Card. Have Rental Payments Reported. Establish Credit With Experian Go™ 30-Sept-2021