QUESTION 8 / 10 Which of the following statements is TRUE? A. People with low credit scores are usually low-risk borrowers. B. The longer you use credit responsibly, the higher your credit score will be. C. Applying for several credit cards in one year can help increase your credit score. D. Paying off your entire credit card balance can lower your credit score.

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skhye456 skhye456

06-02-2021
Social Studies

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QUESTION 8 / 10 Which of the following statements is TRUE? A. People with low credit scores are usually low-risk borrowers. B. The longer you use credit responsibly, the higher your credit score will be. C. Applying for several credit cards in one year can help increase your credit score. D. Paying off your entire credit card balance can lower your credit score.

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ohiogina70 ohiogina70 · Answer 1 · 2021-02-07T07:35:55+01:00

ohiogina70 ohiogina70

07-02-2021

Answer:

B, The longer your use credit responsibly, the higher your credit score will be.

Explanation:

Answer Link

VidyaaTech2022 VidyaaTech2022 · Answer 2 · 2022-05-27T09:48:29+02:00

The true statement is the longer use of credit responsibly will lead to an increase in the credit score.

Option B is the correct answer.

What is a credit card?

A credit card is one of the types of card which allows individuals to pay their monthly bills on a prompt basis without any delay.

The history of credit card usage and its payments help in analyzing a person's credit score. The individuals who are utilizing their credit cards accountably, that means, in the time of its actual necessity will tend to have a good credit score. In contrast to the individuals who are using the credit cards maximum times will have a lower score.

Therefore, if an individual uses a credit card responsibly, then it leads to a higher credit score.

Learn more about the credit cards in the related link:

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