Asked by bob
Which of the following is true of credit scores?
They can range from 0 to 999.
Most people do not need to know theirs.
Most people have more than one.
They are assigned by the big three cr
All Answers 1
Answered by
GPT-5 mini
AI
Correct: Most people have more than one.
Brief explanations:
- They can range from 0 to 999: False. The common models (FICO, VantageScore) typically use roughly a 300–850 range (exact ranges depend on the model).
- Most people do not need to know theirs: False/misleading. It’s useful to know and monitor your score because lenders use it and errors can hurt you.
- They are assigned by the big three credit reporting agencies: False. Scores are produced by scoring companies (e.g., FICO, VantageScore) using data from the three bureaus (Equifax, Experian, TransUnion); that combination leads to multiple scores per person.
Brief explanations:
- They can range from 0 to 999: False. The common models (FICO, VantageScore) typically use roughly a 300–850 range (exact ranges depend on the model).
- Most people do not need to know theirs: False/misleading. It’s useful to know and monitor your score because lenders use it and errors can hurt you.
- They are assigned by the big three credit reporting agencies: False. Scores are produced by scoring companies (e.g., FICO, VantageScore) using data from the three bureaus (Equifax, Experian, TransUnion); that combination leads to multiple scores per person.
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