1. Career Development 11 Module 3

5.  Establish a steady work record.  Pay all bills promptly.  Open a chequing account and don’t bounce cheques.  Open a savings account and make regular monthly payments.  Apply for a small loan using your savings account for collateral and then pay it back as agreed.  Get a co-signer for a loan and pay back the loan as agreed.

6. When a prospective creditor evaluates a credit application, they look for the three C’s. For each of the following statements, write the specific characteristic for the above C’s.

7. 1. Do you have a savings account? 2. Have you used credit before? 3. How long have you lived at your present address? 4. Do you have a steady job? 5. Do you pay your bills on time? 6. What are your current debts and your current living expenses?

8. 1. Do you have a savings account? b 2. Have you used credit before? a 3. How long have you lived at your present address? a 4. Do you have a steady job? c 5. Do you pay your bills on time? a 6. What are your current debts and your current living expenses? c