15 Feb Personal Financial Management? ?Assignment: How is My Credit ? FOR THOSE OF YOU WHO LIVE IN THE UNITED STATES: Establishing credit and maintaining your creditworthiness are essential to your
Personal Financial Management
Assignment: How is My Credit
FOR THOSE OF YOU WHO LIVE IN THE UNITED STATES:
Establishing credit and maintaining your creditworthiness are essential to your financial well-being. Good credit allows you to obtain loans and acquire assets that you otherwise might not be able to attain. This project will help you to examine your credit.
Instructions:
If you’ve already established credit, get a copy of your credit report from one of the credit bureaus mentioned in this chapter. (If you’ve applied for a loan recently, your lender may already have sent you a copy of your credit report.) Carefully examine your report for any inaccuracies, and take the necessary steps to correct them. Then look over your report and evaluate your creditworthiness. If you feel you need to improve your creditworthiness, what steps do you need to take?
Your submission should be a minimum of one page of content in length, answering each question with a substantive paragraph of 4 – 5 sentences in length. Please type the question as well as your answer.
**My credit went down it is 640 right now, due to a consolidation of 5 credit cards and two little loans.
My husband and myself bought a house in 2020 in NYC. We have a mortgage.
We have two lease vehicles.
I have regular credit cards that I pay for that I use.
$2,000 and $4500.
I need to start saving for rainy days, also need to fix and repair my credit- so it can be in the high 700's close to 800 credit score.
Chapter 6 and 7:
Required Text(s): PFIN 7Author(s): Gitman, Joehnk, and BillingsleyEdition: 7thYear: 2016ISBN:Digital/electronic Option ISBN:97803570336099780357033692
APA Format
Welcome to Money Online
Money Online is a set of links to relevant Web sites and companion exercises that will help you use the Web effectively in financial planning. By bookmarking (saving) the URLs, you will build a valuable library of personal finance Web sites.
Web site addresses may change over time, so if you have difficulty linking to a URL, please try using key words in your preferred search engine.
CHAPTER 6 – Using Credit
Parse out all those credit card offers, and explore various credit report services that also help protect you from identity theft. Pull up CardTrak’s site and click on the “Credit Cards” tab. There you can narrow your search by categories such as card type, bank, card network, and credit quality, and then compare credit cards on the following points:
a) Annual percentage rate for purchases
b) Introductory annual percentage rate
c) Balance transfer annual percentage rate
d) Annual fee
There is also a section devoted to credit reports where you can compare services and price points.
Want to learn more about scams, identity theft, and how to avoid them? Pull up the Consumer.gov’s site and click on “Scams and Identity Theft” to learn about the most common forms of consumer fraud.
3. http://www.bankrate.com/calculators/index-of-credit-card-calculators.aspx
Go to this Web page, and then click on “credit card minimum payment calculator” to find out how long it will take to pay off a credit card. Try it: Assume you have a $5,000 balance on a credit card that charges 18 percent interest; now, if you make minimum monthly payments of 2 1/2 percent (which is equivalent to paying 1 percent of the current balance plus all finance charges), how long will it take you to pay off the card? How about if you make minimum monthly payments of 3 1/2 percent? Finally, how long would it take you to pay off the card if you made fixed payments of $175 a month?
What are the alternatives to bankruptcy? What are the statistics on both business and personal bankruptcies? Visit the “Consumer Center” and “Code and Rules” sections of the American Bankruptcy Institute to find court rulings, articles, reports, statutes and laws, and most anything else to do with bankruptcy.
Just for Fun!
http://cgi.money.cnn.com/tools/debtplanner/debtplanner.jsp
What effect will paying an extra $10 per month have on your credit card debt? Use CNNMoney’s debt reduction planner to find out. While you’re there, also click on “Related Stories” to get useful information on credit management and how to maintain a good credit record.
http://www.fool.com/ccc/ccc.htm
Get in on the secret! You can use credit wisely and to your advantage—let the Motley Fool show you how: Click on “Don’t Play by Their Rules” for some sage advice.
© 2017 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as permitted in a license distributed with a certain product or service or otherwise on a password-protected website for classroom use.
Our website has a team of professional writers who can help you write any of your homework. They will write your papers from scratch. We also have a team of editors just to make sure all papers are of HIGH QUALITY & PLAGIARISM FREE. To make an Order you only need to click Ask A Question and we will direct you to our Order Page at WriteDemy. Then fill Our Order Form with all your assignment instructions. Select your deadline and pay for your paper. You will get it few hours before your set deadline.
Fill in all the assignment paper details that are required in the order form with the standard information being the page count, deadline, academic level and type of paper. It is advisable to have this information at hand so that you can quickly fill in the necessary information needed in the form for the essay writer to be immediately assigned to your writing project. Make payment for the custom essay order to enable us to assign a suitable writer to your order. Payments are made through Paypal on a secured billing page. Finally, sit back and relax.
About Wridemy
We are a professional paper writing website. If you have searched a question and bumped into our website just know you are in the right place to get help in your coursework. We offer HIGH QUALITY & PLAGIARISM FREE Papers.
How It Works
To make an Order you only need to click on “Order Now” and we will direct you to our Order Page. Fill Our Order Form with all your assignment instructions. Select your deadline and pay for your paper. You will get it few hours before your set deadline.
Are there Discounts?
All new clients are eligible for 20% off in their first Order. Our payment method is safe and secure.