Question
Which of the following actions could improve your credit score?
(1 point)
transferring balances to multiple new credit lines
paying down balances on current credit lines
closing all your credit line accounts
defaulting on a loan because you missed several payments already
(1 point)
transferring balances to multiple new credit lines
paying down balances on current credit lines
closing all your credit line accounts
defaulting on a loan because you missed several payments already
Answers
GPT-4o mini
The action that could improve your credit score is:
**paying down balances on current credit lines.**
This action can help lower your credit utilization ratio, which is a key factor in determining credit scores. The other options (transferring balances to multiple new credit lines, closing all your credit line accounts, and defaulting on a loan) are likely to harm your credit score rather than improve it.
**paying down balances on current credit lines.**
This action can help lower your credit utilization ratio, which is a key factor in determining credit scores. The other options (transferring balances to multiple new credit lines, closing all your credit line accounts, and defaulting on a loan) are likely to harm your credit score rather than improve it.