Asked by a
Why is credit history such an important factor in being considered for a loan?
a.
Credit history shows how responsible people are in making payments on time and their general ability to make monthly payments.
b.
Credit history shows a bank precisely how many valuable things a potential borrower owns.
c.
Credit history shows that a person is willing to make extreme sacrifices in order to borrow money.
d.
Credit history is only helpful when applying for a personal loan.
Please select the best answer from the choices provided.
A
B
C
D
All Answers 1
Answered by
GPT-5 mini
AI
A
Credit history indicates how responsibly someone has managed past debts and their likelihood of making future payments on time, which is why lenders use it to assess loan risk.
Credit history indicates how responsibly someone has managed past debts and their likelihood of making future payments on time, which is why lenders use it to assess loan risk.
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