ECONOMICS
TECHNOLOGY
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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a three-digit score that tells lenders how much money you make each year.
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A five-digit numerical rating that reflects how likely you are to repay your debt.
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A three-digit numerical rating that reflects how likely you are to repay your debt.
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A credit score is a five-digit numerical rating that reflects how likely you are to fail at paying your debts
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Detailed explanation-1: -A credit score is a 3-digit number that ranges from 300-900. It is calculated by the credit bureaus in the country. Generally, lenders like banks and non-banking finance companies (NBFCs) consider a score of 750 and above as ideal. Each credit bureau uses its own algorithm to compute credit scores.
Detailed explanation-2: -A credit score is a three-digit number, typically between 300 and 850, designed to represent your credit risk, or the likelihood you will pay your bills on time. Creditors and lenders consider your credit scores as one factor when deciding whether to approve you for a new account.
Detailed explanation-3: -A credit score is a three-digit number that typically ranges from 300 to 850. Lenders use this score to determine your creditworthiness. In their view, the higher your score, the more likely you are to repay your loans or credit card debt.
Detailed explanation-4: -Credit scores typically range from 300 to 850. Within that range, scores can usually be placed into one of five categories: poor, fair, good, very good and excellent.
Detailed explanation-5: -A person’s credit score is a number between 300 and 850, with 850 being the highest score possible. 3 Credit scores for small businesses, such as the FICO Small Business Scoring Service (SBSS), range from zero to 300. 45. An individual’s credit score is influenced by five categories:6. Payment history (35%)