1. Advise the couple on how to fill out a credit application. 2. Explain to them the...
Question:
2. Explain to them the procedure that the bank will probably follow in processing their application.
3. Tell them about credit scoring and how the bank will arrive at a credit decision.
4. What kind of advice would you offer the Ramirez family on the "correct" use of their card? What would you tell them about building a strong credit record?
Felipe and Lucia Ramirez are a newly married couple in their mid-20s. Conrad is a senior at a state university and expects to graduate in the summer of 2015. Lucia graduated last spring with a degree in marketing and recently started working as a sales rep for the Momentum Systems Corporation. She supports both of them on her monthly salary of $4,250 after taxes. The Ramirez's currently pay all their expenses by cash or check. They would, however, like to use a bank credit card for some of their transactions. Because neither Felipe nor Lucia knows how to apply for a credit card, they approach you for help.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Related Book For
Personal Financial Planning
ISBN: 978-1305636613
14th edition
Authors: Randy Billingsley, Lawrence J. Gitman, Michael D. Joehnk
Question Posted: