ECONOMICS
CREDIT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Helped
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Hurt
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Either A or B
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None of the above
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Detailed explanation-1: -A longer credit history shows you have more experience using credit, and this helps lenders be more accurate in the level of risk they take when lending to you. If you have a history of on-time payments, it indicates you’re likely to make your payments on time if extended credit.
Detailed explanation-2: -Pay your loans on time, every time One way to make sure your payments are on time is to set up automatic payments, or set up electronic reminders. If you’ve missed payments, get current and stay current.
Detailed explanation-3: -At-A-Glance. Having good credit means having a good credit history. History isn’t instant. If you haven’t used credit before, it usually takes at least six months to generate a credit score – and longer to earn a good or excellent score.
Detailed explanation-4: -You’ll have an easier time renting an apartment. You’ll get the best rates on car and homeowners insurance. It’s cheaper to borrow money. You’ll be better prepared for the future. You can access perks and enjoy the best rewards. More items