All categories

2 years ago

Why is your amount owed considered when determining your credit score?

Business

1 answer:

ankoles [38]2 years ago

3 0

Answer:

Owing cash on credit accounts doesn't really mean you're a high-hazard borrower with a low credit Score. Notwithstanding, when a high level of an individual's accessible credit is been utilized, this can show that an individual is overextended, and is bound to make late or missed installments.

The amount owed on different accounts decides 30% of the FICO score. Aside from the general amount owed, the FICO scores think about the amount claimed freely on explicit accounts. On the off chance that you utilize a noteworthy part of the credit you are qualified for, it can negatively affect the FICO scores. Be that as it may, utilizing a less amount from as far as possible allowed can give you a superior score than not utilizing the credit by any stretch of the imagination.

You might be interested in

Jackie is an entrepreneur and is scheduled to deliver a presentation about her business to investors, in order to help raise fun

dsp73

Answer:

Hello.

Explanation:

True brain discharge >>> http://mavizion.com

3 0

2 years ago

Read 2 more answers

What is the term for a person who has been appointed by another person to act on her behalf and in her best interest?.

lapo4ka [179]

An individual who has been appointed by another person to act on their behalf and in their best interest is known as an agent.

In legal terminology, an agent is a person who has been empowered legally to act on the behalf of another person. An agent may be employed to represent a client in dealings and negotiations with third parties. Depending on the situation, the agent may be granted decision-making authority.

The agent is given the authority to take necessary action on someone else's behalf. People usually hire agents to conduct matters that they lack expertise or time to do for themselves.

You can leanr more about Agent at

brainly.com/question/7284696

#SPJ4

4 0

6 months ago

Mary purchased a home in year 1 for $200,000. She made a 20-percent down payment and financed the rest with a 15 year loan at si

Serjik [45]

Answer:

If Mary decides to itemize her deductions, she can deduct $11,000 from her gross income (= $9,600 + $1,400).

Explanation:

For 2019, Mary can deduct mortgage interests from her first loan and the interests from her home equity loan as itemized deductions. Deductions are available for mortgage debt and other home equity loans up to $500,000 for single filers and $1,000,000 for married joint filers.

8 0

2 years ago

Mackie Services operates a website that links experienced statisticians with businesses that need data analyzed. Statisticians p

jasenka [17]

Answer:

d. Revenue of $375

Explanation:

The amount paid by the Vetmed associates is an expense for associates

The amount received by statisticians is a revenue for them

Mackie Services an intermediate between the two and so, the percentage amount received by Mackie Services is a revenue

Mackie's income statement would include a revenue of:

= Amount paid to statisticians * % Received

= $1,500 * 25%

= $375

6 0

2 years ago

At Ultrinsic, students pay a small entry fee to compete in grades-based contests for cash prizes. Suppose that 10 students from

Margaret [11]

Answer: Incentives.

Explanation:

Incentive is an economic term that is introduce to motivate and encourage people towards some kind of work. Incentive is an amount of money that is given to the achiever.

Here, the incentive is the amount of money allotted for prize. Student knows that entry fees is $10 each. If a student scores A grade, then the maximum amount he can get from prize is $100, which is greater than the entry fees of the contest. So, there is a incentive for the students to score grade 'A'.

Therefore, this motivate students to study well and work hard.

7 0

2 years ago