Laurel has a less credit-to-debt ratio compared to others so Laurel is most likely to get a good credit card rate option (B) is correct.
<h3>What is debt?</h3>
It is defined as the amount one party needs to pay to another party as the first party borrowed an amount that will be credited by the second party. Debt occurs when one party cannot be able to purchase something under normal circumstances.
We have a statement:
Who is most likely to get a good credit card rate based on their credit-to-debt ratio?
As we know,
Credit-to-debt ratio = Credit card balance ÷ Credit limit
A. Darius has a credit limit of $6,000 and a balance of $1,200.
Credit-to-debt ratio = 1200/6000 = 0.2 or 20%
B. Laurel has a credit limit of $5,000 and a balance of $500.
Credit-to-debt ratio = 500/5000 = 0.1 or 10%
C. Lenore has a credit limit of $10,000 and a balance of $3,500.
Credit-to-debt ratio = 3500/10000 = 0.5 or 35%
D. August has a credit limit of $2,000 and a balance of $300.
Credit-to-debt ratio = 0.15 or 15%
As we can see Laurel has a less credit-to-debt ratio compared to others so Laurel is most likely to get a good credit card rate.
Thus, Laurel has a less credit-to-debt ratio compared to others so Laurel is most likely to get a good credit card rate option (B) is correct.
Learn more about the debt here:
brainly.com/question/17286021
#SPJ1
