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Ahmed wants to buy a new car. His credit score is 750. Based only on his credit score, do you think he will qualify for a car loan? Explain why or why not.

User Tuor
by
6.8k points

2 Answers

0 votes
Yes because 750 is a great credit score witch qualifies him to get a loan
User Tarun Modi
by
6.2k points
7 votes

A credit score reflects the likelihood of you paying credit back. It is calculated with the help of credit history and is used by lenders to check if you are eligible for loan. The higher the credit score, the better are the chances to get a loan.

a credit score is 700 or above is generally considered good.

So with credit score 750 Ahmed will probably get his loan approved.

User JoseMarmolejos
by
6.7k points
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