Question

What is a major benefit of managing your credit in a responsible way?

(1 point)
Responses

Obtaining a much lower personal credit score.
Obtaining a much lower personal credit score.

Gaining access to lower rates on future loans.
Gaining access to lower rates on future loans.

Having fewer available choices for getting credit.
Having fewer available choices for getting credit.

Receiving higher interest fees on your balances.
Receiving higher interest fees on your balances.

Answer 1

Gaining access to lower rates on future loans.

Explanation: Responsible credit use improves your credit score, which lenders reward with lower interest rates and better loan terms.