ECONOMICS
CREDIT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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In which of the following situations is having a good credit score important?
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Buying a car.
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Applying for a loan at a bank.
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Renting an apartment.
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All of the above.
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Explanation:
Detailed explanation-1: -A good credit score will come in handy when you apply for home loans, personal loans, credit cards or any other kind of loans in the future.
Detailed explanation-2: -A strong credit score-760 and above-may give you important financial advantages, including access to more options, lower interest rates, and more lender choices.
Detailed explanation-3: -1. Most important: Payment history. Your payment history is one of the most important credit scoring factors and can have the biggest impact on your scores. Having a long history of on-time payments is best for your credit scores, while missing a payment could hurt them.
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