Question

Explain concept of 3Cs and 7Ps of credit.

Answer 1

The Three C's of Credit. A credit score is dynamic and can change positively or negatively depending upon how much debt you accrue and how you manage your bills. The factors that determine your credit score are called The Three C's of Credit - Character, Capital and Capacity.

7C of Creditworthiness is;

Character,

Capacity,

Cash,

Capital,

Collateral,

Conditions,

Control.