12
QuizMultiple Choice

Managing Credit and Debit — Test

Question 12 • Personal Finance

Which is most likely to happen to consumers with good credit? Choose three correct answers.

Answer
A
They are denied a mortgage.
B
They are denied an unsecured loan.
C
They can receive lower interest rates.
D
They can be approved for loans.
E
They can use credit in emergencies.
F
They are forced into high interest rates.

Explanation

Good credit signals to lenders that a borrower is more likely to repay. As a result, consumers with good credit can often receive lower interest rates and are more likely to be approved for loans. Having access to credit can also help them cover unexpected expenses in an emergency.

AI-written and checked against the verified answer.

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