A credit score is: aa three-digit number summarizing the state of your credit ban alphabetical score grading your creditworthiness ca numerical score reporting how much money you owe d
Question
A credit score is: aa three-digit number summarizing the state of your credit ban alphabetical score grading your creditworthiness ca numerical score reporting how much money you owe d
Solution
A credit score is a three-digit number summarizing the state of your credit. It is calculated based on your credit history, including factors such as your payment history, the amount of debt you have, the length of your credit history, the types of credit you have, and how often you apply for new credit. It does not report how much money you owe, but rather, it gives lenders an idea of how likely you are to repay your debts.
Similar Questions
A number assigned to you that helps a lender judge your ability to repay a loan is called a _____.A.credit scoreB.debt-to-credit ratioC.debt ratingD.credit limit
In the LendingClub dataset, a credit score is synonymous with:Question 3Answera.a premium score.b.a debt score.c.a risk score.d.a credit card score.
Your credit score is not associated with:A.getting approved to rent an apartment.B.being hired by a hiring manager.C.an increase in salary.D.securing a home loan.
Banks and credit card companies use credit scores to:A.calculate the amount of compound interest on an account.B.determine whether a person's debts can be forgiven in bankruptcy.C.seize people's property if they fail to pay back loans in a timely manner.D.decide whether an applicant is likely to pay back borrowed money.
Banks and lenders use credit scores to determine . . .The likelihood that someone is able to repay debtHow much collateral someone has available to put up for a loanA person's financial responsibilityHow successful someone is
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