1. APPLYING FOR CREDIT WHAT DOES A LENDER NEED TO KNOW ABOUT YOUR CREDIT HISTORY TO EXTEND CREDIT? CHAPTER 6: PAGE 169
NAME
TEACHER
DATE
NAME, TEACHER AND DATE

2. NAME, TEACHER AND DATE

3. THE FIVE C’S OF CREDIT:
The five key elements a borrower should have to obtain credit: character (integrity), capacity (sufficient cash flow to service the obligation), capital (net worth), collateral (assets to secure the debt), and conditions (of the borrower and the overall economy).
NAME, TEACHER AND DATE

4. : NAME, TEACHER AND DATE Credit Score Rating % of People Impact
Very Poor
17%
Credit applicants may be required to pay a fee or deposit, and applicants with this rating may not be approved for credit at all.
Fair
20.2%
Applicants with scores in this range are considered to be subprime borrowers.
Good
21.5%
Only 8% of applicants in this score range are likely to become seriously delinquent in the future.
Very Good
18.2%
Applicants with scores here are likely to receive better than average rates from lenders.
Exceptional
19.9%
Applicants with scores in this range are at the top of the list for the best rates from lenders.
NAME, TEACHER AND DATE

5. THE FIVE C’S OF CREDIT (COMPLETE A CONTENT SLIDE FOR EACH CREDIT POLICY)
WHEN A LENDER…
NAME, TEACHER AND DATE

6. C1:__ ESSENTIAL QUESTION__
TEXT
OBJECT
NAME, TEACHER AND DATE

7. C2:__ ESSENTIAL QUESTION__
TEXT
OBJECT
NAME, TEACHER AND DATE

8. C3:__ ESSENTIAL QUESTION__
TEXT
OBJECT
NAME, TEACHER AND DATE

9. C4:__ ESSENTIAL QUESTION__
TEXT
OBJECT
NAME, TEACHER AND DATE

10. C5:__ ESSENTIAL QUESTION__
TEXT
OBJECT
NAME, TEACHER AND DATE

11. CREDIT RATING: PAGE 170 WHAT IS A CREDIT RATING?
NAME, TEACHER AND DATE

12. Who are the 3 credit agencies?
Information on the 3 National Credit Reporting Agencies or Credit Bureaus
Who are the 3 credit agencies?
The 3 national credit reporting agencies in the United States are Equifax, Experian, and Trans Union. Experian was formerly known as TRW. A fourth national credit reporting agency named Innovis exists, but does not currently seem to factor into decisions for denials of credit, insurance or employment. It is more in a development stage.
NAME, TEACHER AND DATE

13. CREDIT AND EQUAL OPPORTUNITY PAGE 172
NAME, TEACHER AND DATE

14. WHAT IF YOUR APPLICATION IS DENIED? PAGE 172
NAME, TEACHER AND DATE

15. CREDIT APPLICATION INFORMATION: PAGE 172
NAME, TEACHER AND DATE