Aya and Tarek have good news to share. They recently went ahead and got married. Now that
Question:
b. Explain why Aya does not have a credit score at this time. Also, how can Tarek’s credit score be increased.
c. Aya feels it is time to get a credit card. The plan is to use the credit card primarily for emergencies and to pay for travel related to work (Aya will receive a reimbursement for any such expenses). The problem is that without a credit report or existing credit score, Aya is finding it difficult to get approved for credit. How can Aya go about getting a credit card?
d. Let’s say that Aya applies for a credit card and receives the following offer: XYZ credit card with a $2,500 credit limit, a 12% APR, and a minimum payment of 4% calculated on any outstanding balance or $25 (whichever is greater). If Aya accepts the offer, spends $1,000 on the credit card immediately, and then does not spend any more and begins to make the minimum required monthly payment, how many years will it take to pay off the loan, assuming that Aya makes no more purchases?
Introduction To Materials Management
ISBN: 978-9386873248
8th edition
Authors: Arnold J. R. Tony, Gatewood Ann K., M. Clive Lloyd N. Chapman Stephen