Which tax uses the same rate for all income levels 5 points?

Which tax uses the same rate for all income levels 5 points?

A proportional tax is a tax where everyone, regardless of income pays the same rate as tax.

Which tax uses the same rate for all income?

progressive tax—A tax that takes a larger percentage of income from high-income groups than from low-income groups. proportional tax—A tax that takes the same percentage of income from all income groups. regressive tax—A tax that takes a larger percentage of income from low-income groups than from high-income groups.

What is likely to happen if a borrower misses a payment on a credit card account quizlet?

What is likely to happen if a borrower misses a payment on a credit card account? The credit card company applies a penalty rate, increasing the card’s interest rate.

Do car dealerships call your employer?

Whether you’re buying from a private seller or a dealer, your lender is going to ask about your income sources, how long you’ve held your job(s), and likely even ask about your work history for the past three years. Verifying your work history could mean calling your past employers or looking at your credit reports.

Can I buy a car with a 547 credit score?

Credit cards and auto loans offer the best approval odds for someone with a 547 credit score. For example, people with credit scores below 580 take out roughly 12% of car loans versus only 6% of mortgages, according to 2017 Equifax data.

Is a 547 credit score bad?

Your score falls within the range of scores, from 300 to 579, considered Very Poor. A 547 FICO® Score is significantly below the average credit score.

Can I buy a house with a 547 credit score?

1 Answer. You can qualify for FHA LOANS with under 580 credit scores and down to 500 FICO with 10% down payment on purchase. However, you need approve/eligible per Automated Underwriting System Findings.

What does it mean if your credit score is 547?

A 547 FICO® Score is considered “Poor”. It means you’ve had past payment problems, including collection accounts, judgments, bankruptcy or worse. With a “Poor” score, it’s harder to obtain credit cards, loans, and favorable interest rates.

Is 547 out of 710 a good credit score?

A credit score of 721-880 is considered fair. A score of 881-960 is considered good. A credit score of 604-627 is good. A score of 628-710 is considered excellent (reference: https://www.finder.com/uk/transunion).

Can I get a loan with a 547 credit score?

Personal loans with a 547 credit score You might find it challenging to get approved for a personal loan with poor credit scores. Instead, you may have to settle for a personal loan with a high interest rate — not to mention other fees, such as an origination fee.

How can I get a loan with terrible credit?

Emergency Loan Options for Bad Credit

1. Online Lenders.
2. Credit Unions.
3. Lending Circles.
4. Credit Card Cash Advance.
5. Payday Loans.

What are the credit score ranges?

A credit score is a three-digit number, typically between 300 and 850, designed to represent your credit risk, or the likelihood you will pay your bills on time….Here is a general look at credit score ranges:

• 300-579: Poor.
• 580-669: Fair.
• 670-739: Good.
• 740-799: Very good.
• 800-850: Excellent.