Ugba 196 midterm - Study guides, Class notes & Summaries

UGBA 196- Midterm Question and answers 2023/2024 verified to passFICO Score (Definition) - correct answer Mathematical Number used by lenders to determine if you're a good or bad credit risk Debt-to-Credit Ratio - correct answer Total balance of your credit cards and other loans compared to your total credit limit Add up all your debt/credit ratios What percent do you want your debt-to-credit ratio to be? - correct answer 30%-33% Highest possible FICO Score? - correct answer 850 (d...

UGBA 196- Midterm Correctly Answered Test 2024. FICO Score (Definition) - correct answer Mathematical Number used by lenders to determine if you're a good or bad credit risk Debt-to-Credit Ratio - correct answer Total balance of your credit cards and other loans compared to your total credit limit Add up all your debt/credit ratios What percent do you want your debt-to-credit ratio to be? - correct answer 30%-33% Highest possible FICO Score? - correct answer 850 (delinquency rate ...

UGBA 196 Midterm Questions & Answers 2024. What does your FICO score represent? - correct answer delinquency and default rate of a large number of people with similar credit history What factors determine your FICO score? (5) - correct answer on time bills, debt to credit ratio, length of credit history, new accounts/applications for credit, mix of credit cards and loans Credit Card Act - correct answer ⁃ no interest rate increase for 1 year unless introductory rate has come to an end o...

UGBA 196 Midterm Question and answers correctly solved 2023/2024 What does your FICO score represent? - correct answer delinquency and default rate of a large number of people with similar credit history What factors determine your FICO score? (5) - correct answer on time bills, debt to credit ratio, length of credit history, new accounts/applications for credit, mix of credit cards and loans Credit Card Act - correct answer ⁃ no interest rate increase for 1 year unless introductory rat...

UGBA 196- Midterm FICO Score (Definition) - correct answer Mathematical Number used by lenders to determine if you're a good or bad credit risk Debt-to-Credit Ratio - correct answer Total balance of your credit cards and other loans compared to your total credit limit Add up all your debt/credit ratios What percent do you want your debt-to-credit ratio to be? - correct answer 30%-33% Highest possible FICO Score? - correct answer 850 (delinquency rate of 1%) What's the best way...

UGBA 196 Midterm What does your FICO score represent? - correct answer delinquency and default rate of a large number of people with similar credit history What factors determine your FICO score? (5) - correct answer on time bills, debt to credit ratio, length of credit history, new accounts/applications for credit, mix of credit cards and loans Credit Card Act - correct answer ⁃ no interest rate increase for 1 year unless introductory rate has come to an end or you are 60+ days late on...

UGBA 196- MidtermFICO Score (Definition) - correct answer Mathematical Number used by lenders to determine if you're a good or bad credit risk Debt-to-Credit Ratio - correct answer Total balance of your credit cards and other loans compared to your total credit limit Add up all your debt/credit ratios What percent do you want your debt-to-credit ratio to be? - correct answer 30%-33% Highest possible FICO Score? - correct answer 850 (delinquency rate of 1%) What's the best way t...

UGBA 196 MidtermWhat does your FICO score represent? - correct answer delinquency and default rate of a large number of people with similar credit history What factors determine your FICO score? (5) - correct answer on time bills, debt to credit ratio, length of credit history, new accounts/applications for credit, mix of credit cards and loans Credit Card Act - correct answer ⁃ no interest rate increase for 1 year unless introductory rate has come to an end or you are 60+ days late on a...