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GITMAN/ JOEHNK/ BILLINGSLEY N4 6 Using Credit Copyright ©2016 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part. LEARNING OUTCOMES 1 Describethereasonsforusingconsumercreditand identifyitsbenefitsandproblems 2 Developaplantoestablishastrongcredithistory 3 Distinguishamongthedifferentformsof open accountcredit 4 Applyfor,obtain,andmanageopenformsof credit Copyright ©2016 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part. PFI4 | CH6 LEARNING OUTCOMES (continued) 5 Choosetherightcreditcardsandrecognizetheir advantagesanddisadvantages 6 Avoidcreditproblems,protectyourself against creditcardfraud,andunderstandthepersonal bankruptcyprocess Copyright ©2016 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part. PFI4 | CH6 The Basic Concepts of Credit • Why we use credit • Avoid paying cash for large outlays • Meet a financial emergency • Convenience • Investment purposes • Improper uses of credit • Meet basic living expenses • Make impulse purchases • Purchase non-durable goods Copyright ©2016 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part. PFI4 | CH6 Credit Crisis on Borrowers ouseholds were unable to repay the mortgages onthly consumer credit payments (excluding mortgage) should not exceed 20% of monthly net income ebt Safety Ratio = Copyright ©2016 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in ymentsFI4 | CH6 ... - tailieumienphi.vn