BANKING GENERAL KNOWLEDGE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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The credit scores of his family, including his parents and wife.
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His savings account that has more than $3, 000.
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He paid off a car loan after making every payment for 4 years.
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Detailed explanation-1: -A few highlights: Personal information, including any names associated with your credit, current and past addresses and date of birth. Current and past employers that have been listed on past credit applications. Open loans and revolving credit accounts with credit limits, dates of late payments and current status.
Detailed explanation-2: -What credit score do auto lenders look at? The three major credit bureaus are Experian, TransUnion and Equifax. The two big credit scoring models used by auto lenders are FICO® Auto Score and Vantage. We’re going to take at look at FICO® since it has long been the auto industry standard.
Detailed explanation-3: -Your credit score is a measure of factors that may affect your ability to repay credit. It’s a complex formula that takes into account how you’ve repaid previous loans, any outstanding debt, and your current salary.
Detailed explanation-4: -Your income and employment history are good indicators of your ability to repay outstanding debt. Income amount, stability, and type of income may all be considered. The ratio of your current and any new debt as compared to your before-tax income, known as debt-to-income ratio (DTI), may be evaluated.