O https://sfdr.owschools.com/owsoo/studentAssignment/index?eh=65534403Assignment - 1. Credit Scores and LoansSECTION 2 OF 4QUASSIGNMENTSCOURSESAttempt 1 of 114y 56.8Identify benefits of a good credit score. Select all that apply.O better job opportunitiesO lower car insurance ratesO inability to rent an apartmentO higher interest rates on a car loanO ability to obtain a cell phone service planNEXT QUESTIONREAD NEXT SECTIONO ASK FOR HELPTURN ITType here to search

Answered: Identify benefits of a good credit…

Pfin (with Mindtap, 1 Term Printed Access Card) (mindtap Course List)

7th Edition

ISBN:9780357033609

Author:Randall Billingsley, Lawrence J. Gitman, Michael D. Joehnk

Publisher:Randall Billingsley, Lawrence J. Gitman, Michael D. Joehnk

Chapter6: Using Credit

Section: Chapter Questions

Problem 7FPE

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O https://sfdr.owschools.com/owsoo/studentAssignment/index?eh=65534403
Assignment - 1. Credit Scores and Loans
SECTION 2 OF 4
QU
ASSIGNMENTS
COURSES
Attempt 1 of 1
1
4
y 5
6.
8
Identify benefits of a good credit score. Select all that apply.
O better job opportunities
O lower car insurance rates
O inability to rent an apartment
O higher interest rates on a car loan
O ability to obtain a cell phone service plan
NEXT QUESTION
READ NEXT SECTION
O ASK FOR HELP
TURN IT
Type here to search

Expert Solution

Introduction

A credit score is a measurement that lenders use to understand if a consumer is reliable or risky. This score helps them understand how likely they are to get their money (the money they loaned out) paid back.

People with strong credit ratings get access to better financial opportunities throughout their lifetime. For example, they can access low-interest loans (like online mortgages) and high-rewards credit cards more easily. These perks have the ability to save thousands of dollars (if not more) over a person's lifetime.

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