ECONOMICS
CREDIT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Have someone Co-Sign your loan
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Not pay your bills
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Get a gas/Apartment card
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Cats
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Detailed explanation-1: -Late payments can hurt your payment history by pushing your credit scores down and making you look like a higher-risk borrower. If you pay your bills on time, you can build a positive payment history on your credit reports and could increase your chances of getting credit when you need it.
Detailed explanation-2: -Paying noncredit bills like rent, utilities, and medical expenses on time won’t bump up your credit score because they’re usually not reported to credit bureaus. But if they’re very late or in collections, they’ll likely get reported and affect credit scores negatively.
Detailed explanation-3: -The legal action taken against credit card defaulters in India includes filing a civil suit in court, initiating criminal proceedings, or making use of debt recovery tribunals. This may result in imprisonment or a fine, or both.
Detailed explanation-4: -Getting a new cell phone. Not paying your parking tickets. Using a business credit card. Asking for a credit limit increase. Closing an unused credit card. Not using your credit cards. Using a debit card to rent a car. Opening an account at a new financial institution. More items
Detailed explanation-5: -Not Paying on a Co-Signed Loan. Racking Up Debt as an Authorized User on a Credit Card. Not Paying Your Portion of the Rent. Returning Library Books Late (or Not at All) Bailing on Shared Debts After a Breakup. Getting a Ticket in Someone Else’s Car. 14-Sept-2016