FLH-
Briefly describe the criteria a creditor uses to evaluate a potential borrower.
Why is it important to maintain an excellent credit score? Name ways that bad credit can hurt someone. How can good credit help you achieve some of your own financial goals?
Why do you think lenders have an interest in your credit history?
Do you think it’s fair that consumers with good credit scores typically pay less for credit accounts, such as credit cards and loans, and certain insurance products? Why or why not?
Imagine that your best friend just got approved for a credit card with a $500 available credit limit. He or she is excited to use a credit card for the first time and wants to go on a shopping spree. If you know that he or she doesn’t have much money to pay off the credit card bill, what advice would you offer?