Question

Circle or highlight the correct answer choice: If you have a high credit score, you are more / less likely to get approved for a loan.

Answer 1

more likely to get approved for a loan.

Step-by-step explanation:

A credit score is the accepted indicator of one's reliability in paying debts. In calculating the credit score, a person's credit history is an essential element. If one has been punctual and disciplined in repaying their debts, they are likely to have a high credit score.

Credit score range between 300 and 850. A high score implies the customer is very reliable in repaying debts. Lenders consider individuals with a high credit score as low-risk customers. They are less likely to default on their debts. For this reason, a customer with a high credit score is highly likely to be approved for a loan.