List several strategies to improve your credit score.
What will be an ideal response?
Always pay your monthly bills on time. Payment history is 35% of your credit score so this is why it's important for timely payments. The next step is to reduce your debt utilization to no more than 70% of your available credit - and then 50% and then ultimately 30% or less — since the amount of available credit is 30% of your score. Next, avoid canceling credit card accounts and be sure to use the older ones on occasion to keep the counts open - since the length of your credit history is 15% of your score. Next, avoid opening any new accounts despite the discounts the retailers may offer as these new accounts will hurt your score - since new accounts are 10% of your credit score. Finally, make sure you have a mix of credit cards and installment loans — since types of accounts make up 10% of your score.
You might also like to view...
Rob Stewart sells office equipment and calls on the office manager of a large firm. Rob wants to sell the prospect 30 units of general office supplies. In terms of the acronym SMART, Stewart's objective:
A. could not be measured. B. did not specify a time period. C. was missing a valid order size. D. was probably not achievable. E. met all objective requirements.
Standardized wages tied to jobs rather than individuals, reduces ______________________ flexibility.
Fill in the blank(s) with the appropriate word(s).
Brad is a transportation coordinator for Volkswagen of North America. In order to move a large order of vehicles from a plant in Germany to Chicago, he is planning to use both waterways and railroads. The combining and coordinating of these two modes of transportation in order to take advantage of benefits offered by each of the different types of carriers is called
A. intermodal transportation. B. transportation piggybacking. C. containerized movement. D. efficiency transportation E. freight forwarding.
A manufacturers' agent represents manufacturers in some specified geographic area, while selling agents usually handle the entire output of one or more producers.
Answer the following statement true (T) or false (F)