Lp883357idn
Answered

IDNLearn.com is the place where your questions are met with thoughtful and precise answers. Discover detailed answers to your questions with our extensive database of expert knowledge.

What are two factors used to determine a credit score? Explain how they indicate good or poor credit. Write in complete
sentences

Sagot :

Rayhensahsidn

Answer:

Payment history: Lenders are most concerned about whether or not you pay your bills on time.

Amounts owed: The amount of debt you have in comparison to your credit limits affects your credit. the higher the debt the riskier you seem to a potential creditor.

Length of credit history: Having a longer credit history is favorable because it gives them a more favorable picture that you have built credit over the years with other creditors.

New credit: In general, people who open many new credit accounts in a short amount of are considered a high risk. Too many new accounts can negatively impact your credit score.

Explanation:

We appreciate every question and answer you provide. Keep engaging and finding the best solutions. This community is the perfect place to learn and grow together. Accurate answers are just a click away at IDNLearn.com. Thanks for stopping by, and come back for more reliable solutions.