Computers and Technology, 01.10.2019 11:30 Nigward666

Which best explains what a credit score represents? a: a number showing how likely you are to have more than one credit card. b: a numerical rating that expresses how likely you are to repay your debits. c: a numerical rating that shows how much money you have in your bank accountd: a number expressing your yearly income.

Answers: 2

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Answer from: lilagvaldez15

Answer

a numerical rating that expresses how likely you are to repay your debits.

Explanation

A credit score is a number or a numerical that normally represents the risk a lender takes when you borrow money. It is good to have a good credit score and this can be met by becoming an authorized member, reduce debt to income ratio among many other factors.

Answer from: jhanley4637

B is the correct answer that best explains what a credit score represents. This implies a numerical rating that expresses how likely you are to repay your debts.

A credit score refers to a statistical number that lenders or financial institutions use to evaluate a customer’s ability to pay back their debts. Simply put, credit scores are used by lenders to measure someone’s creditworthiness.

Further Explanation

A customer’s credit score ranges from 300 to 800 and any person that can maintain a good credit score indicates they can be financially trusted.

Fair Isaac Corporation also known as FISCO created the credit scores model, it is a model used by financial institutions to evaluate customer’s ability to repay their debt.

Financial institutions highly considered a customer’s credit score before they can offer credit to their customers.

Customers with low credit scores are regarded as sublime borrowers, especially customers that have credit scores below 40.

All lenders or financial institutions work with different ranges of credit score but the normal average credit scores according to Fair Isaac Corporation is as follows

800 – 850 = Excellent740 – 799 = Very Good670 – 739 = Good580 – 669 = Fair300 – 579 = Poor

LEARN MORE:

Which of the following statements about credit scores is TRUE Which of the following statements about credit scores is TRUE

KEYWORDS:

lendersdebtscredit scorescredit cardsloans

Answer from: Quest

The answer is rom or read only storage devices

Answer from: Quest

Falsea long text data type can store a variable amount of text or combination of text and numbers where the total number of characters may exceed 255.

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Which best explains what a credit score represents? a: a number showing how likely you are to have...

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