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:

De Facto Corporation

A corporation that operates in all respects as a corporation despite not having completed the formalities required for legal recognition.

Ultra Vires

Actions or activities conducted by a corporation or its officers that lie beyond the powers granted by its charter or the laws.

Ultra Vires Contract

A contract that exceeds the powers granted to a corporation by its charter or bylaws.

Fourteenth Amendment

An amendment to the US Constitution that grants citizenship and equal civil and legal rights to all persons, including previously enslaved individuals.