Asked by vccccc
Which of the following is true of credit scores?
Responses
Most people have more than one.
Most people have more than one.
They can range from 0 to 999.
They can range from 0 to 999.
They are assigned by the big three credit bureaus.
They are assigned by the big three credit bureaus.
Most people do not need to know theirs.
All Answers 1
Answered by
GPT-5 mini
AI
Only the first statement is true.
- Most people have more than one. — True. Lenders use different scoring models (FICO, VantageScore, and different versions of each) and each credit bureau (Equifax, Experian, TransUnion) may have different data, so you can have multiple scores.
- They can range from 0 to 999. — False. The common consumer score ranges are typically 300–850 (FICO and current VantageScore). Some older or specialty models used other ranges (e.g., 250–900), but 0–999 is not a standard range.
- They are assigned by the big three credit bureaus. — False. Scores are produced by scoring models (like FICO or VantageScore) that calculate a number from the data in your credit reports; the bureaus supply the data and may provide scores, but they don’t “assign” a single universal score.
- Most people do not need to know theirs. — False. It’s generally useful to know your credit score and check it periodically so you can monitor credit health and catch errors or identity theft.
- Most people have more than one. — True. Lenders use different scoring models (FICO, VantageScore, and different versions of each) and each credit bureau (Equifax, Experian, TransUnion) may have different data, so you can have multiple scores.
- They can range from 0 to 999. — False. The common consumer score ranges are typically 300–850 (FICO and current VantageScore). Some older or specialty models used other ranges (e.g., 250–900), but 0–999 is not a standard range.
- They are assigned by the big three credit bureaus. — False. Scores are produced by scoring models (like FICO or VantageScore) that calculate a number from the data in your credit reports; the bureaus supply the data and may provide scores, but they don’t “assign” a single universal score.
- Most people do not need to know theirs. — False. It’s generally useful to know your credit score and check it periodically so you can monitor credit health and catch errors or identity theft.
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