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What is credit brainly?
" What is credit information - 7428416. An installment loan is a loan that is repaid over time with a set number of scheduled payments; normally at least two payments are made towards the loan. While running up credit card debt you can’t immediately pay of. The average APR for credit cards is higher than the 14% APR. It is a short-term loan from the credit card company, and you are required to pay it back by the end of the month. Correct option is d. One example of an unsecured line of credit is a credit card, which is not backed by any assets. Everything you need to know about a 707 credit score. What are the three primary types of credit? The three types of credit accounts are revolving, installment , and open. Explanation: A credit card charge interests on outstanding balances and late payments, among other items. Unlike with a credit card, which is a short-term loan where money is immediately transferred from the credit card company's checking account to the seller and the user owes the money at the. The Credit refers to an agreement under which goods and services, or money is exchanged against a promise to pay later. It is essential for buyers to manage credit responsibly, making timely payments to avoid accruing high-interest charges and maintain a good credit score. A borrower's credit score improves the way one appears to potential lenders. Credit is a commitment to pay for something in the future, instead of buying it right away. Therefore, if one can avoid interest on these balances, their credit card charges will reduce. Explanation: Credit is a sound understanding in which a borrower gets something of significant worth now and consents to reimburse the moneylender at some date later on, … Credit is defined as an arrangement that allows you to borrow money now and repay it later, plus interest and fees. What is credit report? A credit report is a document that contains details on your credit history, credit use, and other aspects of your credit behavior and circumstances. A personal line of credit can be an important financial tool, but it’s typically only available to people with overall healthy finances, including a high credit score Whether you are looking to apply for a new credit card or are just starting out, there are a few things to know beforehand. With easy-access credit, borrowers can quickly access funds without undergoing a lengthy application process or meeting strict eligibility criteria Apr 25, 2024 · A media tax credit is a government incentive utilized to encourage media investments by allowing companies to deduct certain investment costs from their tax liability. It is essentially an agreement between the borrower and the lender, where the lender provides funds or resources upfront, and the borrower agrees to. Unfortunately, the difference between an exceptional and poor credit score could cost you n. When people use credit, they are able to acquire goods and services before they have the money to pay for them. It is an arrangement where one party (lender) provides funds to another party (borrower) with the understanding that the borrower will. The yearly percentage rate is what we use for this (APR). In accounts, credit in an entry recording is a sum received listed on the right-hand side or column of an account. Credits are typically created to promote or reward specific actions that are thought to be good for the economy, the environment, or any other major cause the government deems vital. It provides the borrower with access to a predetermined amount of funds that can be borrowed as needed, up to the established credit limit. A credit report is a report which contains the detailed credit history and reults of an individual or company. 5 people found it helpful report flag outlined. Interest is the extra money you pay back on top of the amount you borrowed. Nov 4, 2019 · Credit. Credit cards impose the condition that cardholders will pay back the money and interest over time. Corporate revolving credit facilities are typically used to provide liquidity for a company's day-to-day operations Installment credit is a type of credit that has a set number of payments, called installments, which the borrower must pay over a specified period of time. Debtor agrees to return lender, frequently with interest, or face financial or legal repercussions. In this question, the correct example of credit is when a person borrows money from a finance company to buy a car Learn more about Credit here: brainly Credit is the trust which allows one party to provide money or resources to another party wherein the second party does not reimburse the first party immediately, but promises either to repay or return those resources at a later date For example, a manufacturer taking credit during festive season in anticipation of increased. Advantages of Consumer Credit. It is mainly used in business organizations where; credit transactions are very common. Which business credit cards are the best for shipping purchases? Here's an in-depth guide to help you get the most from your spending. This is where things get problematic. Answer: a letter issued by a bank to another bank to serve as a guarantee for payments made to a specified person under specified conditions. Nov 3, 2023 · A retail credit card is one type of closed-end credit that can only be used at specific retail stores or chains, with higher interest rates and possible rewards or discounts associated with the retailer. " What is credit information - 7428416. The interest rates on credit cards are often given as an annual percentage. Credits are typically created to promote or reward specific actions that are thought to be good for the economy, the environment, or any other major cause the government deems vital. A credit report is a number representing your creditworthiness A credit report is a detailed listing of your credit history A credit report is a ranking which compares your creditworthiness to others A credit report is a missed payment or other factor which negatively affects your credit. What is credit card? A credit card is a payment card was the issued by the financial institutions. Answer A credit card is a payment card issued to users to enable the cardholder to pay a merchant for goods and services based on the cardholder's accrued debt. an arrangement in which you receive money, goods, or services now in exchange for the promise of payment later: This is the correct definition of credit. question. report flag outlined. What is Credit Card? Credit card are type of cards which are used by customers to borrow cash or fund from the card issuer in case of emergency up to a pre approved limit and have to paid it back each month. Hence option D is correct What is credit? It involves borrowing money from a lender, such as a bank or credit card company, with the understanding that the borrowed funds will be repaid with interest. A social relationship between such a lender and a borrowers is the fundamental component of credit (debtor). In the United States, a credit report plays a large role in the financial decisions an individual will be able to make in the future. A credit report is a number representing your creditworthiness A credit report is a detailed listing of your credit history A credit report is a ranking which compares your creditworthiness to others A credit report is a missed payment or other factor which negatively affects your credit. It is B Credit card interest rates typically range between 15% and 20% on an annualized basis and do not change much over time What is the significance of credit cards? Credit cards, when used appropriately, may be important instruments for earning rewards, traveling, dealing with crises or unanticipated spending, and improving credit A rewards credit card, as the name suggests, pays the. If he fails to pay the same on time, he will be charged by the bank. Explanation: Oct 23, 2023 · Credit card interest is the fee charged for borrowing money through a credit card. Since the exporter is also called a supplier, the agreement is called the supplier credit in the ECA terminology Credit involves borrowing money to make a purchase and repayment at a later date, while debit involves immediate payment from a person's account at the time of transaction. In this guide, we’ll explore alternative methods for res. Step-by-step explanation: Advertisement. While credit cards can be a beneficial tool for developing credit and collecting incentives, carrying a load can cause substantial financial stress and long-term effects. Explanation: Credit is the meaning of giving support off the impact of something, Theirfor its credit And then brainly. What is credit report? A credit report is a document that contains details on your credit history, credit use, and other aspects of your credit behavior and circumstances. Which best describes secured credit?It is backed by a valuable assetIt carries no risk for the lenderIt can be easily obtainedIt limits a borrower's debt. Unfortunately, utilizing credit means that a person or entity will incur debt. Explanation: A credit score is a numerical definition based on an analysis of a person's personal credit file, representing individual's creditworthiness. Credit scores are used by lenders, such as banks and credit card companies, to evaluate the potential risk posed by lending money to consumers. Learn what a 707 credit score means. comment report flag outlined. Of course you must repay these loans, with interest, and that's how the bank makes its money. Jun 3, 2022 · A good credit score is a measure of how well you have managed your credit accounts in the past. A line of credit is a credit facility extended by a bank or other financial institution to a government, business or individual customer that enables the customer to draw on the facility when the customer needs funds. Ensuring that all of your credit card bills are paid on time. The relationship between credit and debt can be described as follows: Credit is the ability to borrow money or obtain goods or services with the expectation of paying for them in the future. The relationship between credit and debt can be described as follows: Credit is the ability to borrow money or obtain goods or services with the expectation of paying for them in the future. Therefore, the secure line of credit is: D)A line of credit backed by collateral. Answer: Credit creation is the most important function of commercial banks. What is credit report? A credit report is a document that contains details on your credit history, credit use, and other aspects of your credit behavior and circumstances. A credit score is a numerical representation of an individual's creditworthiness. Everything you need to know about a 707 credit score. Explanation: Credit refers to the ability of a person or entity to borrow money or access goods or services with the promise of future payment. Credit can also refer to an individual’s history of borrowing and repaying debt. As you repay the outstanding balance, plus any interest, you unlock the ability to borrow against the account again. A credit card is a card which allows people to buy items without cash. northeastern delta dental It is a line of credit against which additional debt may be drawn. It's important because the higher your credit score, the easier it will be for you to get approved for loans and credit cards. Consumer credit offers a backup form of payment and one monthly payment Brainly App For students For parents Textbook Solutions. a tax credit represents money owed to you, while a tax deduction represents money Verified answer. Some examples of revolving credit include credit cards, home equity lines of credit (HELOCs), and personal lines of credit. Revolving credit is a type of loan that gives you access to a set amount of money. Please select the best answer from the choices provided A B What is an unsecured line of credit? A. Brainly App Find a math tutor For teachers Honor code Log answered. One advantage is that it provides financial protection for the borrower's family in the event of their death. short answer: A loan with specific monthly payments, Terms. A personal line of credit can be an important financial tool, but it’s typically only available to people with overall healthy finances, including a high credit score Whether you are looking to apply for a new credit card or are just starting out, there are a few things to know beforehand. Explanation: Usually, you will be expected to make monthly payments of a minimum amount, to show that you will eventually pay the money you owe. letmeanswer. It is based on factors such as your payment history, the amount of debt you have, and the length of your credit history. Brainly User Brainly User Answer: A credit card is a payment card issued to users (cardholders) to enable the cardholder to pay a merchant for goods and services based on the cardholder's promise to the card issuer to pay them for the amounts plus the other agreed charges. vtalishathapar. com It is defined as The rate paid for the use of credit. Unlike with a credit card, which is a short-term loan where money is immediately transferred from the credit card company's checking account to the seller and the user owes the money at the. Explanation: Credit card interest is the cost associated with borrowing money using a credit card. Revolving credit is the type of Credit that lets the borrower choose how much of the credit to use and when to pay it. Choice D is correct. Credit refers to the ability of an individual or entity to borrow money with the promise to repay it in the future, usually with interest. An open line of credit allows the borrower to access funds up to a specified limit, and they can borrow and repay as needed. Credit cards are the most common form of open-end credit. A secured line of credit means you're promising an asset like real estate or a savings account as collateral in case you don't pay back what you owe. The amount of interest that affects credit card purchases is determined by the Annual Percentage Rate (APR) on the card. Credit is a financial term that refers to the ability of an individual or business to borrow money or access goods and services with the understanding that payment will be made at a later time. used boat trailers for sale near me A credit report will show any and all loans applied for as well as successful applications. report flag outlined. It does not require a current balance, specific credit history requirements, or have a fixed interest rate. So basically, credit is borrowing. Apr 13, 2022 · Credit card issuer is the one who offers such credit facility to the consumer over the credibility of the holder in the market. A mortgage, for example, is a type of installment loan. Most people still think of credit as an agreement to buy something or get a service with the promise to pay for it later. If you're looking for the right cash back credit card for you, this list of SmartAsset's best cash back cards will help Cash back credit cards are perfect for sav. Having a bad credit score can make getting a loan challenging, but there are still options if you find yourself in a pinch. An open line of credit allows the borrower to access funds up to a specified limit, and they can borrow and repay as needed. What could be the potential cause (s) of the issue describe what happens at every step of our network model, when a node on one network establishes a TCP connection with a node on another network. C. Explanation: A credit score is a numerical expression that represents the creditworthiness of an individual, calculated based on their credit history. Some examples of revolving credit include credit cards, home equity lines of credit (HELOCs), and personal lines of credit. Answer: The main disadvantage of using revolving consumer credit is the cost to consumers who fail to pay off their entire balances every month and continue to accrue additional interest charges from month to month. See if 707 is a good credit score, what loans you can get & more. A good credit score shows lenders that you are reliable and that you are likely to repay your debts on time. B. 19 Report: A monthly statistical report from the U Federal Reserve that shows outstanding credit extended to individuals for household, family and other personal expenditures Some credit cards feature variable APRs, which means that over time, your rate may go up or down. What is a credit card? A sort of line of credit offered by banks seems to be a credit card, which enables users to borrow money up to a pre-approved available credit. Jun 3, 2022 · A good credit score is a measure of how well you have managed your credit accounts in the past. You may get an intro APR for buys, current accounts, or both based on your credit card 2. Explanation: An open line of credit is a type of credit account that allows the borrower to continuously borrow and repay funds up to a set credit limit. They are used to determine who qualifies for a loan, at what. costco gas vista ca It is a short-term loan from the credit card company, and you are required to pay it back by the end of the month. Correct option is d. The issuer of the card, then transfers. Credit is a commitment to pay for something in the future, instead of buying it right away. Hello! I'm the Brainly AI Helper here to assist you. Since the exporter is also called a supplier, the agreement is called the supplier credit in the ECA terminology Credit involves borrowing money to make a purchase and repayment at a later date, while debit involves immediate payment from a person's account at the time of transaction. A credit card is an example of an open line of credit. In today’s digital age, students are constantly seeking ways to enhance their learning experience outside the traditional classroom setting. A borrower's credit score improves the way one appears to potential lenders. Easy-access credit is a type of credit that provides quick and easy access to funds. One of the most common types of credit accounts is revolving credit, which allows for unrestricted borrowing but has a limit, known as a credit card limit, on the amount that can be used at any particular time. Unlike with a credit card, which is a short-term loan where money is immediately transferred from the credit card company's checking account to the seller and the user owes the money at the. What is true about credit unions is that they are generally member-owned.
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Some examples of revolving credit include credit cards, home equity lines of credit (HELOCs), and personal lines of credit. Step-by-step explanation:I hoped ive helped u have an wonderful day or night. Credit (CR): Credit refers to the right side of an accounting entry or ledger account. (ii) To some people, loan helps a lot in constructing their houses and get relief from monthly rent. - Homework Help, AI Tutor & Test Prep AI-generated answer. A company sells 10,000 shares of previously authorized stock at the par value of $10 per share. Credit transactions involve an upfront trade of value for a future repayment promise, and responsible use of credit can help build a positive credit score. A credit report will show any and all loans applied … A tax credit is a reduction in your tax liability on an exact dollar for dollar basis. Click here 👆 to get an answer to your question ️ what is credit money? Credit: Brainly Verified answers yield the best results. Explanation: One type of closed-end credit is a retail credit card. Nov 8, 2020 · Credit involves borrowing money to make a purchase and repayment at a later date, while debit involves immediate payment from a person's account at the time of transaction. Read the information about two competing credit cardsCredit Card 1 would be the better option if the borrowerHad major expenses in the first yearSpent a lot. Credit. intel i225 vs i226 Credits are typically created to promote or reward specific actions that are thought to be good for the economy, the environment, or any other major cause the government deems vital. Since the exporter is also called a supplier, the agreement is called the supplier credit in the ECA terminology. AI-generated answer. Nov 3, 2023 · An open line of credit is: A line of credit against which additional debt may be drawn. an arrangement in which you receive money, goods, or services now in exchange for the promise of payment later B. The main advantage of consumer credit is that consumers can purchase goods and services and pay for them later. On October 1, a client pays a company the full $12,000 balance of a year-long contract. A credit score and a credit rating are the same thing A credit score is a measure of how much debt you have, and a credit rating is a measure of your creditworthiness A credit score is a number indicating your creditworthiness, and a credit rating is a measurement of how your credit score compares to others What is credit limit? This is the level which an individual is no longer allow to purchase goods or services on credit. The idea is to help students with homework questions by using others who may have already answered that question. A credit card balance is the amount of money you owe the company who give you the credit card. A tax credit directly reduces the amount of tax owed. Answer : An open circuit implies that the two terminals are points are externally disconnected, which is equivalent to a resistance R=∞. Explanation: A common example of a secured line of credit is a home mortgage or a car loan. It accounts for 30% of your credit score. Credit bureaus collect financial information about individuals and create credit reports based on that information, and lenders use the reports along with other details to determine loan applicants' creditworthiness Answer: Credit cards. Plagiarism refers to using someone else's work, ideas or words without giving proper credit to the original author or creator. Revolving credit is a type of credit that can be used repeatedly up to a certain limit as long as the account is open and payments are made on time. It accounts for 30% of your credit score. Answer: credit is when you don't pay for something and has the intention to pay it back. (Image credit: Brainly) Brainly, at its most simple, is a peer-to-peer network of questions and answers. headmod koikatsu What is an unsecured line of credit? a. It is more secure than cash. It should be noted that main advantage of a credit union compared to a payday or title is that Credit unions usually offer lower interest rates than payday and title lenders What is credit union? Credit unions serves as financial institutions, like banks, and are nonprofit entities that aim to serve their members Therefore, Credit unions usually offer lower interest rates than payday and. Opening two lines of credit at the same time C. On the other hand, a credit card does not draw money right away and must be paid back later, subject to any interest charges that may have accrued. com May 10, 2024 · Credit is defined as an arrangement that allows you to borrow money now and repay it later, plus interest and fees. Two choices for a free credit check online. It is usually offered by financial institutions such as banks or credit card companies. Credit inquiry is a request for a credit report information center from a credit reporting agency, hence this aspect forms a major factor into a credit score. Check your credit score. Mar 4, 2022 · Answer: Credit is the ability to borrow money or access goods/services with the understanding that you'll pay later. Credit plays a vital and positive role as : (i) Credit helps people from all walks of life in setting up their business, increase their income and support their families. Giving credit to the author of a quoted source C. Dec 7, 2022 · Giving brainly support for everything they did to give you help. Easy-access credit is a type of credit that provides quick and easy access to funds. With a little bit of research and patience, you can find a home for rent with bad credit Credit cards used to just offer flexibility when you needed to pay for something before payday but now they can be used as a reward card offering cash back or air miles every time. ssh websocket account premium Credit is like when you buy something now and pay for it later. If Jonathan is twice as old as his sister, how old is Jennifer Answer A credit card is a payment card issued to users to enable the cardholder to pay a merchant for goods and services based on the cardholder's accrued debt. report flag outlined. Answer : An open circuit implies that the two terminals are points are externally disconnected, which is equivalent to a resistance R=∞. Credit cards, however, can significantly affect this ratio, potentially. ♥ It provides capital to acquire any kind of productive assets, land and/or machinery. Your financial power is part of the credit. Interest is the extra money you pay back on top of the amount you borrowed. Employers often check the credit rating of prospective employees. It is a line of credit against which additional debt may be drawn. A credit report is a document that contains detailed information about a person's credit history. Mar 8, 2017 · What is 'Credit Limit' Credit limit refers to the maximum amount of credit a financial institution extends to a client through a line of credit as well as the maximum amount a credit card company allows a borrower to spend on a single card. (iii) To others, it helps a lot in raising their standards. Find out if 703 is a go. It enables the cardholder to make basic transaction at the point of sale. This suggests to a lender that there is a history of good credit management. A credit report is a report which contains the detailed credit history and reults of an individual or company. The amount that a customer owes on a credit card at the end of the month is called a credit card balance. Credit is a financial term that refers to the ability of an individual or business to borrow money or access goods and services with the understanding that payment will be made at a later time. It's like getting a loan, but usually for smaller amounts and shorter time 1 Verified answer. For example, if you owe $5,000 in taxes and have a $1,000 tax. Thus, option B is the correct option. Interest is the extra money you pay back on top of the amount you borrowed.
Unlike with a credit card, which is a short-term loan where money is immediately transferred from the credit card company's checking account to the seller and the user owes the money at the. ; A person can Qualify for Lower Credit Card Interest and others. What is Credit Card? Credit card are type of cards which are used by customers to borrow cash or fund from the card issuer in case of emergency up to a pre approved limit and have to paid it back each month. Credit is borrowed money that can be used to purchase goods and services. Some examples of revolving credit include credit cards, home equity lines of credit (HELOCs), and personal lines of credit. A credit card is an example of an open line of credit. degrees may require additional credits to finish special requirements, the 60-credit ba. the delta lake Explanation: A credit card charge interests on outstanding balances and late payments, among other items. The money is usually acquired from a lender. Your financial power is part of the credit. Easy-access credit is often used for urgent financial needs and can be obtained through various sources such as credit cards, payday loans, or short-term personal loans. Brainly 1-on-1 Math Tutoring brings you Personal 1-on-1 Live Tutoring with our dedicated Certified Experts Rich Study materials making learning fun with 10k. gossip bakery moss family " report flag outlined. 19 Report: A monthly statistical report from the U Federal Reserve that shows outstanding credit extended to individuals for household, family and other personal expenditures Some credit cards feature variable APRs, which means that over time, your rate may go up or down. Brainly is a collaborative learning pla. " What is credit information - 7428416. A good credit score shows lenders that you are reliable and that you are likely to repay your debts on time. B. A credit card balance is the amount of charges owed to a credit card company deejrenee202. vcu internal medicine residency Hence option D is correct What is credit? It involves borrowing money from a lender, such as a bank or credit card company, with the understanding that the borrowed funds will be repaid with interest. Although the credit limit on a secured card might not require a security deposit, the card's eligibility might be determined by credit history. Everything you need to know about a 703 credit score. Credit is based on trust that the buyer will pay, often at a later. Here is a step-by-step explanation: 1. Unlike with a credit card, which is a short-term loan where money is immediately transferred from the credit card company's checking account to the seller and the user owes the money at the.
When you use credit, you are able to delay the payment for items that you buy. Credit bureaus collect financial information about individuals and create credit reports based on that information, and lenders use the reports along with other details to determine loan applicants' creditworthiness Aug 25, 2022 · Click an Item in the list or group of pictures at the bottom of the problem and, holding the button down, drag it into the correct position in the answer box. However, as personal finance writer J. Consumer credit offers a backup form of payment and one monthly payment Brainly App For students For parents Textbook Solutions. A borrower's credit score improves the way one appears to potential lenders. Some examples of revolving credit include credit cards, home equity lines of credit (HELOCs), and personal lines of credit. This feature is known as credit, and it is one of the most significant benefits of using a credit card. An Associate of Arts (A) degree requires at least 60 credits to completeA. Credit is borrowed money that can be used to purchase goods and services. On the other hand, a credit card does not draw money right away and must be paid back later, subject to any interest charges that may have accrued. Credit likewise refers to a bookkeeping passage that either diminishes. ; A person can Qualify for Lower Credit Card Interest and others. With a credit card, the borrower has a predetermined credit limit and can make purchases or cash advances up to that limit. Following are some reasons for the denied credits-Lenders may refuse to grant you credit as a result of some anomalies on your credit report. When you use credit, you are able to delay the payment for items that you buy. Answer: Credit is the ability to borrow money or access goods/services with the understanding that you'll pay later. Employers often check the credit rating of prospective employees. Define the term tax credit? You owe less income tax to the state and federal governments thanks to tax credits. A credit score and a credit rating are the same thingA credit score is a measure of how much debt you have, and a credit rating is a measure of your creditworthiness A credit score is a number indicating your creditworthiness, and a credit rating is a measurement of how your credit score compares to others. The advantages of a high Credit Score are;. Step-by-step explanation: If the line of credit is "open", money may be borrowed and repaid repeatedly. Factors such as payment history, amount of debt, length of credit history, and types of credit used play a role in determining credit scores. ywam perth A supplier credit is an agreement in a commercial contract under which an exporter will supply goods or services to a foreign buyer on credit terms. In accounts, credit in an entry recording is a sum received listed on the right-hand side or column of an account. Answer: Credit creation is the most important function of commercial banks. Oct 28, 2020 · To help banks determine if people should be given a loan or credit card: purpose of a credit report. Thus option (A) is correct What is debt? Debt can be defined simply as the amount owed by the borrower to the lender. Here's why: You may need good credit for such routine matters as having the utilities connected to your home. Brainly 1-on-1 Math Tutoring brings you Personal 1-on-1 Live Tutoring with our dedicated Certified Experts Rich Study materials making learning fun with 10k+ Games, Videos and Worksheets; dot. Another definition of Credit refers to the money given by banks to its customer and the later has to pay it on time. B-The required minimum payment to your credit card company. With so many new credit cards being released, the decision on which to choose almost always depends on two things: the issuer and reward. What is credit report? A credit report is a document that contains details on your credit history, credit use, and other aspects of your credit behavior and circumstances. Explanation: Credit is the meaning of giving support off the impact of something, Theirfor its credit And then brainly. Credit bureaus collect financial information about individuals and create credit reports based on that information, and lenders use the reports along with other details to determine loan applicants' creditworthiness musicprincess3. Heading back to Amazon to check on price reductions for every one o. Jul 8, 2022 · Credit scores consider factors like payment history. craigslist california fresno Credit is the ability to borrow money or obtain goods and services with the promise of future payment. D-The amount of money you still owe to the credit card company. Credits are typically created to promote or reward specific actions that are thought to be good for the economy, the environment, or any other major cause the government deems vital. Easy-access credit refers to a type of credit that is readily available and easy to obtain. Credit cards impose the condition that cardholders will pay back the money and interest over time. A supplier credit is an agreement in a commercial contract under which an exporter will supply goods or services to a foreign buyer on credit terms. Your net liability is zero, for instance, if you owed $1,000 in federal income taxes but are entitled to a $1,000 tax credit. Credit choices ought to be made purely on the basis of a person's creditworthiness, which is established by elements like credit history, income, debt-to-income ratios, and other financial indicators Disparities between various racial and ethnic groups might arise as a result of systemic problems and biases, though. b. It is a three-digit number that summarizes a person's credit history and helps lenders assess the risk of lending money to them. Aug 22, 2018 · Answer. Or sign up to get your latest credit score for free. It reflects also the payment status of how all your accounts are being paid. Answer: Tax credits provide dollar for dollar reduction of the persons income. It does not require a current balance, specific credit history requirements, or have a fixed interest rate. It is a line of credit against which additional debt may be drawn. Credit is part of your financial power. Credit unions are typically not-for-profit organizations that prioritize serving their members' needs over maximizing profits for shareholders.