- Another Perspective on Wealth
- Setting Personal Goals
- Understanding and Managing Credit
- Introduction
- Learn About Credit Bureaus, Credit Reports, and Credit Scores
- Identify Appropriate Uses for Credit Cards and Explain How They Can Help You Achieve Your Financial Goals
- Learn How Credit Cards Work and Describe the Costs Involved
- Learn How to Manage Credit Cards and Open Credit
- Summary
- Assignments
- Conclusions 1: Learning to Give
- Conclusions 2: Decide to Decide
Case Study #1 Answers
1. Steve and Adrian Tanner did not determine their credit score before applying for a loan. Do not leave things to chance: check your credit score before you apply for a loan. If you know your credit score, you may be able to get a lower rate for your loan.
2. They should have reviewed their credit reports and tried to resolve any problem areas before applying for their loan. They also should have gotten their credit score to see how they were seen by the financial community.
3. They can get their annual credit report free from each of the three agencies we discussed, and they can pay to get their credit score. They should then work to improve their credit score so they can get the lowest rate possible for a loan.
