Ask Question
BusinessBusiness
27 January, 05:36

Explain credit score

+4
Answers (1)
  1. 27 January, 07:05
    0
    Credit score is based on how well you pay your credit card bills. Say you go to the store and buy a shirt for $10. At the end of the month you can pay the

    minimum ($2) or pay the whole $10. If you pay the minimum then you'll get charged interest. Say interest is 2% and you pay the minimum and don't charge anymore to your credit card. Next month instead of paying $8 you'll be paying $10. This makes it easy to slip into debt and debt makes for a poor credit score.

    With a poor credit score you can't apply for a loan for a car or a home.
Know the Answer?
Not Sure About the Answer?
Get an answer to your question ✅ “Explain credit score ...” in 📙 Business if there is no answer or all answers are wrong, use a search bar and try to find the answer among similar questions.
Search for Other Answers
You Might be Interested in
1. How much interest would you pay on a loan of $1,230 for 15 months at 15 percent APR if the interest is 18.75 per $100? $225.00 $230.63 $281.25 $332.50 2. Sherri borrowed $3,200 at 13 percent APR for 18 months. If she must pay 19.
Answers (1)
Bella wants to be a chemical engineer and work for an oil company. Which best describes her career goals? She wants to work in agriculture. She wants to work in food administration. She wants to work in natural resources.
Answers (2)
He editorial board of gamers' page, a magazine that primarily caters to people who are enthusiastic about sports and gaming, targets people who enjoy games.
Answers (1)
An economy produces only 1,000,000 computers valued at $2,000 each. Of these 200,000 are sold to consumers, 300,000 are sold to businesses, 300,000 are sold to the government, and 100,000 are sold abroad. No computers are imported.
Answers (1)
Suppose the demand for coffee suddenly increases in the United Kingdom. Which of the following is the most likely explanation?
Answers (1)
New Questions in Business
True or false: to promote stability in commodity markets, international commodity agreements have relied on production and export controls, buffer stocks, and multilateral contracts.
Answers (1)
The American Recovery and Reinvestment Act was a reaction to what event in the United States? a. The economic crisis of 2008 b. The terrorist attacks of 9/11 c. The war in Afghanistan d. The war in Iraq
Answers (2)
Which statement best explains the law of demand? O The quantity demanded by consumers increases as prices rise, then decreases as prices fall. The quantity demanded by consumers decreases as prices rise, then increases as prices fall.
Answers (1)
In three to four sentences, explain how an increase in government spending can increase the national debt.
Answers (2)
A function that indicates the maximum output per unit of time that a firm can produce, for every combination of inputs with a given technology, is called A. a production possibility curve. B. a production function. C. an isocost function. D.
Answers (1)
Home » Business » Explain credit score
Sign Up Forgot Password?