When Applying for a Credit Card, the Amount of Savings

question 113

True/False

When applying for a credit card, the amount of savings that you have will not be a factor in the credit card company's decision.

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Definitions:

Index Funds

Mutual funds or exchange-traded funds designed to replicate the performance of a specific index, such as the S&P 500.

Day Trader

An individual who buys and sells financial instruments, such as stocks, within the same trading day, aiming to capitalize on short-term market fluctuations.

Investing

The act of dedicating resources (such as capital, time, or effort) to an endeavor with the expectation of achieving a profit or material result.

Standard Deviation

A statistical measure that quantifies the variability or spread of a set of numbers around their mean; it helps in assessing data consistency.