Question

question 9
henrik and callie are both young adults employed at a local company. callie pays her bills on time, has had the same credit card since starting college, and uses about 20% of her credit limit. henrik has made a few late payments, has recently opened a few new credit cards, and uses about 65% of his credit limit. given this information, who is more likely to have a higher credit score?
a.c. student
their scores are likely about the same.
henrik will have the higher credit score.
not enough information has been given.
callie will have the higher credit score.
question 10
by law, how often must each of the three credit bureaus provide you with a free credit report?
once every 5 years
once a year
once every 10 years
once a month

Explanation:

Question 9

To determine credit scores, factors like payment history (on - time vs. late payments), credit utilization (20% vs. 65% of limit), and new credit (stable vs. multiple new cards) matter. Callie pays on time, has low credit utilization, and stable credit. Henrik has late payments, high utilization, and new cards. So Callie is more likely to have a higher score.

By law, the three major credit bureaus (Equifax, Experian, TransUnion) are required to provide a free credit report to consumers once every 12 months. This is a regulatory requirement for credit reporting.

Answer:

D. Callie will have the higher credit score.

Question 10