In a few sentences, explain how a credit score affects creditworthiness and the cost of credit.

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Davion Santana

Business

22 May, 05:10

In a few sentences, explain how a credit score affects creditworthiness and the cost of credit.

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Turner Morrow · Answer 1

A credit score is the number that is assigned to the lenders that measure how well they are able to pay a debt. Credit scores are affected by how the previous loans were paid as well the amount of the loan. Late payments, short term loans, and small loans will result to a low credit score.