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Of the following statements, which one or ones describe actions harmful to your credit score? i. owing a lot of money ii. having many lines of credit iii. making steady payments

Ai and ii
Bii only
Ci and iii
Di only

Verified Answer :

likableadvisers

The correct option is A

The standard credit score is used worldwide to make loan decisions. A credit score is used to make credit decisions and this score is calculated based on information contained in consumer credit reports filed with the credit reporting agencies. It is also used by business owners to assess the credit risk of other companies and to verify whether shareholders comply with their personal payments on time.


ajeigbeibraheem

The following statements that describe harmful actions to your credit score can be seen in Option (a). i.e.

  • owing a lot of money
  • having many lines of credit

What is the meaning of a credit score?

A credit score is a number ranging from 300 to 850 that represents a consumer's reliability and trustworthiness to receive a certain amount of credit.

The higher the score, the more appealing a borrower seems to potential lenders. Lenders use credit rating to assist them to determine whether to grant or refuse credit.

A credit score is determined by credit history, which includes

The number of open accounts,

The total amounts of debt,

Repayment history, and other criteria(s).

Learn more about credit scores here:

https://brainly.com/question/23024185

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