FIN 3140- Midterm Exam Guide - Comprehensive Notes for the exam ( 55 pages long!)
Document Summary
What is a credit score? likelihood of repaying borrowed $ (debt) What does a credit score indicate? level of responsibility. What is a credit report? data gathered by credit bureaus used to compute credit scores. every time you open credit, credit bureaus track it. You have three and you find the average. If there is a problem with your credit score, who can correct it? original party. Starting to become available to individuals without cost. Fico gets _____ and puts your credit score together raw data. By law you can get a credit report ___ from each of the credit bureaus free annually. Visa or master card only issue paperwork for credit cards, the banks are the ones who give you the loan. If you have a higher probability of risk for banks then you have a ____ interest rate higher.
