1. What is the numerical range for the credit score?

Question

2. True or False: Lenders are more likely to give more credit to a borrower with a high
credit score.
3. How long does a late payment stay on your credit report?

Answer 1

1. The numerical range for credit scores typically falls between 300 and 850, though specific scoring models may vary slightly.

2. True: Lenders are generally more likely to give more credit to a borrower with a high credit score, as it indicates a lower risk of default.

3. A late payment can stay on your credit report for up to 7 years from the date of the missed payment.