Sign In
Ask Question
Cornelius Knapp
Business
21 December, 06:18
Explain credit score
+3
Answers (
1
)
Jasmine Sullivan
21 December, 06:39
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.
Comment
Complaint
Link
Know the Answer?
Answer
Not Sure About the Answer?
Find an answer to your question 👍
“Explain credit score ...”
in 📗 Business if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers
You Might be Interested in
Mesa Cheese Company has developed a new cheese slicer called Slim Slicer. The company plans to sell this slicer through its catalog, which it issues monthly. Given market research, Mesa believes that it can charge $20 for the Slim Slicer.
Answers (1)
Which principle of design is used to modify the shape of a design
Answers (1)
Messersmith Company is constructing a building. Construction began in 2020 and the building was completed 12/31/20. Messersmith made payments to the construction company of $3000000 on 7/1, $6300000 on 9/1, and $6000000 on 12/31.
Answers (1)
Suki health foods has 19,000 shares of $5 par common stock outstanding, which were issued at $12 per share. suki also has a deficit balance in retained earnings of $75,000. how much is suki's total stockholders' equity?
Answers (1)
A higher GDP per capita is synonymous with which of the following? a) high rates of inflation b) high standatrds of living c) very low unemployment
Answers (1)
New Questions in Business
The last 50 years of declining productivity of the commercial fish populations off the northeast coast of north america reveal the impact of
Answers (1)
Which of these is NOT one of the items that can provide useful assistance to a project team to define the activities of a project? a. the major milestones from the Project Charter b. schedules from similar, previous projects c. issue logs d.
Answers (1)
The purpose of the post-closing trial balance is to Group of answer choices prove the equality of the temporary account balances that are carried forward into the next accounting period.
Answers (1)
Using the cut-and-try method for aggregate operations planning, we can calculate the ending inventory and then calculate the safety stock as a percent of forecast demand.
Answers (1)
McKinney Corporation had beginning retained earnings of $2,242,000 and ending retained earnings of $2,499,000. During the year they issued common stock totaling $141,000. No dividends were paid.
Answers (1)
Home
»
Business
» Explain credit score
Sign In
Sign Up
Forgot Password?