Unit 7: Credit- You’re in Charge?. Section 10.2 – How to Qualify for Credit. Section 10.2 How to Qualify for Credit. Goals: Explain how lenders judge your creditworthiness. Describe factors that determine your credit rating. Your Creditworthiness.
Section 10.2 – How to Qualify for Credit
1. Character- a measure of your sense of financial responsibility.
2. Capacity-a measure of your financial ability to repay a loan.
3. Capital- is the value of what you own, including savings, investments, and property. The more capital you have the safer it is for a lender to give you a loan.