6.2 Topics/Questions to comment/reflect/discuss by tasha https://padlet.com/tcooper1/i20ekbw319l9 1.TRUE or FALSE The difference between open‐end and closed‐end credit, is when equal payments are required on a regular basis until the loan is repaid. 2. Example of *Closed-end credit *Open-end credit 3. Why should a person shop around with different lenders? 4. Credit Application 5. Explain the meaning of borrowing 6. Credit within safe boundaries 7. Explain the importance of understanding the process of borrowing money, what are you actually doing 8. What is a safe boundary for using a credit card? 9. TRUE or False Open credit that is extended in advance so the borrower does not have to apply for credit each time credit is desired. 10. Alternative credit is... Any additional information you’d like to add pertaining to en-us 2017-01-05 12:45:18 UTC 2017-01-05 18:25:25 UTC hello@padlet.com Taylor Fenner https://padlet.com/tcooper1/i20ekbw319l9/wish/145455489 9. Open credit that is extended in advance so the borrower does not have to apply for credit each time is desired. This statement is true.]]> 2017-01-05 12:49:07 UTC https://padlet.com/tcooper1/i20ekbw319l9/wish/145455489 10. Alternative credit is a short-term loan that provides immediate cash by securing a borrower's writing or receiving authorization for automatic withdrawal from the borrower's depository institution account. - Destiny Coppage https://padlet.com/tcooper1/i20ekbw319l9/wish/145455517 -]]> 2017-01-05 12:49:21 UTC https://padlet.com/tcooper1/i20ekbw319l9/wish/145455517 Zalikiya Staton https://padlet.com/tcooper1/i20ekbw319l9/wish/145455520 2. Examples of closed-end credit are mortgages, automobile loan, personal loans, and student loans. An example of closed- end credit is a credit card.  ]]> 2017-01-05 12:49:23 UTC https://padlet.com/tcooper1/i20ekbw319l9/wish/145455520 AsiaBri https://padlet.com/tcooper1/i20ekbw319l9/wish/145455635 10. Alternative credit is an option open to borrowers that have little to no credit history.  Examples: store credit alternatives would be paying with cash or paying through debit card.]]> 2017-01-05 12:50:09 UTC https://padlet.com/tcooper1/i20ekbw319l9/wish/145455635 Daja Gregory https://padlet.com/tcooper1/i20ekbw319l9/wish/145455696
5. Borrowing is using future income to pay for something that you purchase now.]]> 2017-01-05 12:50:39 UTC https://padlet.com/tcooper1/i20ekbw319l9/wish/145455696 Alexis Harper https://padlet.com/tcooper1/i20ekbw319l9/wish/145455707 5. Borrowing is receiving something of value in exchange for an obligation to pay back something of usually greater value at a particular time in the future. ]]> 2017-01-05 12:50:44 UTC https://padlet.com/tcooper1/i20ekbw319l9/wish/145455707 Chris Lagunas clagu9690 https://padlet.com/tcooper1/i20ekbw319l9/wish/145455775
  • 5.) Borrowing - Is when someone receives something with a promise to return it or its equivalent.
    • ]]>     2017-01-05 12:51:14 UTC https://padlet.com/tcooper1/i20ekbw319l9/wish/145455775     Spencer Hale https://padlet.com/tcooper1/i20ekbw319l9/wish/145455889  Alternative credit is a source of credit that may combine elements of open and closed-end credit, and usually has higher interest rates and fees than other forms of credit.

    ]]>     2017-01-05 12:51:58 UTC https://padlet.com/tcooper1/i20ekbw319l9/wish/145455889     Jamese https://padlet.com/tcooper1/i20ekbw319l9/wish/145455907 2. An example of a closed-end credit is mortgage and an example of a open-end credit is a credit card charge]]> 2017-01-05 12:52:04 UTC https://padlet.com/tcooper1/i20ekbw319l9/wish/145455907 Tiffany Carr https://padlet.com/tcooper1/i20ekbw319l9/wish/145563972 2) Example of closed-end credit could be a Car loan. Example of Open-end credit could be a Credit Card.

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