ECONOMICS
CREDIT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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If your credit score is high, you won’t have to repay the money you owe.
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You can access your credit score for free once every month.
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A landlord can access your credit report to help decide if you are financially responsible..
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Your credit score can never increase, only decrease.
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Detailed explanation-1: -While the general public can’t see your credit report, some groups have legal access to that personal information. Those groups include lenders, creditors, landlords, employers, insurance companies, government agencies and utility providers.
Detailed explanation-2: -Cell phone companies, electric utilities, and landlords may use credit scores to decide whether they will require a security deposit and, if so, how large it should be.
Detailed explanation-3: -Checking your credit history and credit scores can help you better understand your current credit position. Regularly checking your credit reports can help you be more aware of what lenders may see. Checking your credit reports can also help you detect any inaccurate or incomplete information.
Detailed explanation-4: -Checking your credit report annually is the minimum for good credit health, and checking three to six months before you plan to apply for credit to finance a big purchase, such as a house, car or boat, is also essential.