Why do people use credit

Réussis tes devoirs et examens dès maintenant avec Quizwiz!

Change accounts

Allow customers to buy goods and service and pay for it in the future

What are the five types of lenders

Commercial bank, saving & loan, saving bank, credit union, finance companys

Saving & loan

Lend money for home mortgages

Commercial banks

Main function accept deposit and lend money

Credit union

Owned and operated by members to provide saving accounts and low onterest loans

Why do people use credit

People use credit because they feel they need the item immediately

3 type of change accounts

Regular charge account, revolving chargeaccount ,installment charge account

Saving bank

Set to serve small savers

Finance companies

Takes over contract for installment debts from stores


Ensembles d'études connexes

MIS 140 Chapter 3 Homework question

View Set

Tropical climates: the ITCZ, Equatorial climate, Tropical wet and dry climate, tropical monsoon climate

View Set

Spanish Conjugation: Mirar - to look at - Present

View Set

WGU Operations and Supply Chain Management

View Set