Question

of the following statements, which one or ones describe actions helpful to your credit score?
i. quickly paying off debts
ii. having recent debts
iii. having long - standing lines of credit
a. i only
b. ii and iii
c. i and iii
d. iii only
please select the best answer from the choices provided
a b c d

Explanation:

To determine actions helpful for credit score:

• I. Quickly paying off debts: Timely debt repayment (including quick pay - off) is a key factor in positive credit history, as it shows responsible credit behavior and reduces debt - to - credit ratios, so it helps the credit score.
• II. Having recent debts: Recent debts, especially if they are new and not yet established with a good payment history, can be seen as a risk factor. It may indicate increased borrowing activity and doesn't necessarily help the credit score; in fact, it might have a negative or neutral (if not managed well) impact.
• III. Having long - standing lines of credit: A long - standing credit line with a good payment history shows a history of responsible credit usage over time. Lenders view a long credit history positively as it provides more data on how a borrower manages credit, so it helps the credit score.

So, actions I (quickly paying off debts) and III (having long - standing lines of credit) are helpful for the credit score.

Answer:

c. I and III