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3 years ago

Which of the following is not true of credit scores?

2 answers:

7 0

The one that is not true of Credit scores is :
A. only the Credit Bureaus truly know Credit scores are calculated.
They indeed have several benchmark that could be used to calculate it, but with enough information, everyone can predict the score

madam [21]3 years ago

5 0

Option A. is correct.

Only the credit bureaus know the credit scores are calculated is not true of credit scores.

Further explanation:

Credit scores:

Credit scores refer to the creditability of any person. To find the credibility of them, that how much they score to pay a debt.

Justification for the correct and incorrect answer:

A):

Only the credit bureaus truly know credit scores are calculated: This option is correct.

Only the credit bureaus know the credit scores are calculated is not true of credit scores and credit score can be calculated by any person.

B):

Having a high score means you are more likely to repay debts: This option is incorrect.

Having a high score means we are likely to repay debts is true. This will make the credit scorer pay the debt easily who has high scores.

C):

The more money you make, the higher your credit score: This option is incorrect.

The statement is true that the more money we pay, the higher will be our credit score.

D):

Your credit score can impact the car or home you can buy: This option is incorrect.

The statement is true that credit score can impact the car or home that we buy.It depends upon the debt amount.

Thus, only the credit bureaus know the credit scores are calculated is not true of credit scores.

Learn more:

1. Manufacturers:

brainly.com/question/7006237

2. Charging fee in case of credit card

brainly.com/question/2668305

3. Consequences of non-payment of monthly credit card payment

brainly.com/question/3211811

Answer details:

Grade: High School

Subject: Business studies

Chapter: Credit scores

Keywords:Which of the following is not true of credit scores, Only the credit bureaus truly know credit scores are calculated, Having a high score means you are more likely to repay debts, the more money you make, the higher you credit score, Your credit score can impact the car or home you can buy.

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