Difference between a secured loan and an unsecured loan

Reference no: EM133537200

Assignment:

1. Explain the four Cs in terms of how they help creditors evaluate a person's creditworthiness. Capacity - Capital - Character - Collateral -

2. In at least three sentences, explain what someone can do to establish good credit for themself.

3. What is the difference between a single-payment loan and an installment loan?

4. What is the difference between a secured loan and an unsecured loan?

5. What is APR (annual percentage rate)?

6. Why is it important to know the APR instead of just the interest rate?

7. What characteristics of credit cards make them so appealing to consumers (at least 3)?

8. What characteristics of credit cards make them a bad debt (at least 3)? (Please try to make the answers short and simple.).

Reference no: EM133537200

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