Mohammed Tamzid Khan
Mrs. Ramirez
Web Client Programming
3/31/14
On Chapter Six, it talks about credit which drives the American economy. Credit is a huge deal in american society these days. It is your reputation, its a source of revenue, and it is basically needed to be paid back. Credit might be overused because you can buy anything at any moment but credit is called "tomorrows" money because you will have to pay it back in the near future. Credit is considered renting because it is something you must return in the future. If not, then you must pay back with interest rates. as well. Credits are also associated with loans as well sao to attain a loan, you must have good credit.
In Chapter Seven, they talk about the borrower. As a lender, you need to make sure you are aware of previous financial activities. The job of a lender is to know about the applicants previous banking recoreds. The next thing they should know is what the money is going to be used for in the near future. They should also know the credit history and employement histroy of the applicant to ensure that the person is trustworthy. The final things that the lender needs to be aware of is their capacity to repay back the loan they took so the lender knows that the money being given away will be given back.
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