midterm cards part 2

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Author:
ddub
ID:
213185
Filename:
midterm cards part 2
Updated:
2013-04-13 02:15:28
Tags:
midterm cards part
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Description:
midterm cards part 2
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  1. List types of consumer credit
    • CLOSED-END CREDIT (mortgages, car loans)
    • OPEN-END CREDIT ( credit cards, bank cards)
  2. The Five C’s of Credit
    • Capacity
    • Capital
    • Collateral
    • Character
    • Conditions
  3. Recognize the advantages and disadvantages of credit cards (types of credit cards)
    • Bank credit cards
    • Retail credit cards
    • Debit cards
    • Smart cards
  4. Advantages and Disadvantages
    of Credit Card Use (advantage)
    • Method of identification
    • Means of record keeping for business expenses
    • Ability to make remote purchases
  5. Advantages and Disadvantages of Credit Card Use (disadvantages)
    • Most expensive way to borrow
    • Negative effects of credit card marketing
    • Fraud and identity theft
  6. Summarize how to protect and correct credit.
    • -Don’t give out your Social Security number,
    • -Don’t print it on your checks.
    • -Check your credit report regularly.
    • -Shred old bank and credit statements before throwing them away.

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