ECONOMICS
CREDIT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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A number showing how likely you are to have more than one credit card.
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A numerical rating that expresses how likely you are to repay your debts.
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A numerical rating that shows how much money you have in your bank account.
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A number expressing your yearly income.
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Detailed explanation-1: -Highlights: A credit score is a three-digit number designed to represent the likelihood you will pay your bills on time. There are many different types of credit scores and scoring models. Higher credit scores generally result in more favorable credit terms.
Detailed explanation-2: -Although ranges vary depending on the credit scoring model, generally credit scores from 580 to 669 are considered fair; 670 to 739 are considered good; 740 to 799 are considered very good; and 800 and up are considered excellent.
Detailed explanation-3: -Credit ratings are usually expressed in letters such as “AAA” or “BB.” Credit scores, which are normally assigned to individuals, are expressed as numbers ranging from 850 to 300. Credit rating agencies assign ratings that express whether or not an entity is likely to be able to meet its debt obligations.
Detailed explanation-4: -Credit scores typically range from 300 to 850.