ECONOMICS
CREDIT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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True
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False
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Either A or B
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None of the above
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Detailed explanation-1: -Your credit scores typically update at least once a month. However, this may vary depending on your unique financial situation. Credit scores are calculated based on the information included in your credit reports. So, for your credit scores to update, the information in your credit reports must first change.
Detailed explanation-2: -If you check your credit score yourself, it doesn’t lower it. But if a lender or credit card issuer does, it might. Either way, you’ll see an “inquiry” on your credit report. It means that someone-you or a lender-pulled your credit.
Detailed explanation-3: -Your credit score can change whenever new information is added to your credit report or old information is removed. Because of that, a handful of things could possibly raise your credit score 100 points overnight. But none of them happens often, so don’t hold your breath.