Question

Which of the following are not part of the 5Cs of credit? Select all that apply.

1. Candor
2. Collateral
3. Conditions
4. Character
5. Commitment​

Answer 1

Answer:

Your answer is here.

Explanation:

1. commitment

Answer 2

Candor and Commitment are not part of the 5Cs of credit

Option 1 and 5

Explanation:

• The 5 Cs of Credit are "Character, Capacity, Collateral, Capital, and Conditions". Many banks and other monetary institutions make use of these credit ratings to evaluate and analyse if the person is capable and qualifies for the credit facilities and decide whether an applicant is eligible for credit
• The credit score for an individual can even change on their ability to pay the interest or their inability on paying the debts. These help the financial institutions in deciding on the rate of interest and their limit for credits
• The main factors that are needed for defining the credit score for a person are character, capital and capacity. It is vital to pay the debts that entail high rate of interests which can help in saving money than loosing it.

To know more about credit ratings

Define the term ‘Credit Rating’. Why there is need or credit rating in India?

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