RCSC 150B2 Chapter Notes - Chapter 6: Mississaugas Of The New Credit First Nation, Financial Statement, Credit Risk
6 Dec 2017
School
Department
Course
Professor
Document Summary
The condition of having an outstanding balance on credit cards that is barely reducible over time because one is able to make only the minimum payments and is being charged a high annual rate. Credit card act of 2009 requires consumers under age 21 to show evidence of enough income to make payments or have an adult co signer in order to receive a credit card in his or her own name. Also prohibits credit card companies from inducing college students to apply by offering free gifts on campus. Important to establish credit to show responsibility with credit. Need good history to purchase first car/home. Should obtain your credit report and check it every four months. Provide a service of gathering credit information from banks, credit unions, credit card companies, and finance companies about businesses and individuals and then reporting that information when requested by businesses or individuals. Contains how you"ve handled credit in the past and other information including.
