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Exam (elaborations)
AGEC 235- exam 2 questions with correct answers
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what is credit CORRECT ANSWER receiving cash, goods, or services with an obligation to pay later FICO score CORRECT ANSWER -attached to SSN -ranges from 300-850 -determines interest rates -predicts risk what are the three credit reporting agencies CORRECT ANSWER Equifax, Experian, TransUnion what 5 things make up your FICO score CORRECT ANSWER -payment history (35%) -amounts owed (30%) -new credit (10%) -types of credit (10%) -length of credit history (15%) whats a good percentage of credit to use CORRECT ANSWER 0-9% what kind of credit checks dont reduce your score CORRECT ANSWER -checking your own score -request from employers -apartment complex
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- November 9, 2023
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