Question

Which two actions will help to build a good credit history? (Choose two.)
Select one or more:
Obtain large loans to build credit history faster.
Show stability with employment history and residency.
Pay accounts on time.
Provide lenders with references from family and friends.
Work only with creditors with whom you have established prior relationships.

Answer 1

Explanation:

pay accounts on time

It is the best way to grow trust hence getting an opportunity to borrow when in need

Answer 2

The two actions that will help to build a good credit history are-

Pay accounts on time and Show stability with employment history and residency. Option(B) and (C) are the correct answer.

• Your credit score and your ability to obtain a job, loan, credit cards, basic utilities and services, rent an apartment, or even lease a car, may be impacted by every financial decision you make.
• You're more likely to encounter financial opportunities, such as those with higher credit limits and lower interest rates.
• Specify a few accounts: Even if the accounts are inactive and the balances are paid in full, having numerous store and/or credit card accounts can harm your credit score.
• Keep open old accounts: Your credit score will decline if your credit limit is decreased.
• Utilize your accounts: Spend money and settle the balance each month.
• Keep your balance to limit ratio low: Utilizing less of your available credit will help you raise your credit score.
• Pay bills promptly: Lenders look at your payment history to assess your dependability
• Keep your job and/or primary residence for at least two years: These details are used by lenders to assess your stability.
• Look over your credit report: Check frequently for mistakes and unauthorized activity. Report problems right away.

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