Question

Francisco has a credit score of 720, while Edison has a credit score of 685. Which

statement below is TRUE?
Francisco may have to pay a fee to get utilities set up in his new apartment,
while Edison would not have to do the same.
An employer may be more likely to hire Edison than Francisco, because his credit
score makes him seem more responsible.
Edison may receive a higher APR on a credit card he tries to open, while
Francisco's APR will likely be lower.
Edison would likely get a lower interest rate on a home mortgage than Francisco.

Answer 1

The true statement is that Edison may receive a higher APR on a credit card while Francisco's APR will likely be lower.

Step-by-step explanation:

Out of the given statements, the TRUE statement is that Edison may receive a higher APR on a credit card he tries to open, while Francisco's APR will likely be lower. Credit scores are used by financial institutions to assess an individual's creditworthiness, and a lower credit score indicates a higher risk. Therefore, individuals with lower credit scores are typically charged higher interest rates on loans and credit cards, while those with higher credit scores are offered lower rates.

Learn more about The effects of credit scores on financial transactions