Melvin is 19 years old and wants to begin establishing a credit history. Which action should he take to meet that goal?*1 pointAlways say "credit" when asked "credit or debit?" at a storeAsk his parents to cosign a credit card or add him as an authorized user on their credit cardAny time he borrows money from a friend or family member, be sure to pay it back promptlyTake out some private student loans, even though he doesn't need them because he has grants and scholarships

As a young adult, all of the following are good strategies for building credit, EXCEPT:*1 pointOpen a credit card, with your parent or guardian as a cosignerOpen a checking account, and start using a debit cardBecome an authorized user on a credit card used by your parent or guardianOpen and use a secured credit card

Each of the following financial products will help you build a credit history EXCEPT...*1 pointSecured credit cardDebit cardAuto loanCredit card

Multiple Choice QuestionJarek runs a small manufacturing company. He thinks over the next year he might need to borrow approximately $25,000 for upgrades to his business. He has decided to make an arrangement with the bank for (a) _____, which will allow him to borrow various amounts over time, not to exceed $25,000, if he needs it.Multiple choice question.credit cardline of creditsecured loantrade credit

Which situation is an example of a person making use of credit?A.A college student saves up money in order to buy a cheap used car.B.A business owner takes out a loan to expand and redecorate her offices.C.An architect puts his weekly paychecks into a savings account at a local bank.D.A farmer sells most of her crops to customers who live near her farm.

What is the credit ? Discuss the terms of credit