To establish creditworthiness and to have a good credit score,one should probably first:
A)open savings and checking accounts.
B)use credit extensively.
C)arrange for a small loan.
D)pay cash for all purchases.
E)arrange for a large loan from close relatives.

Question

Quizplus · Accepted Answer

Opening savings and checking accounts demonstrates financial responsibility and provides a foundation for building credit. It shows that the individual has a steady source of income and can manage their finances effectively by regularly depositing and withdrawing money. Using credit extensively or arranging for a large loan from close relatives could lead to debt, which could negatively impact the credit score. Paying cash for all purchases does not establish credit, and arranging for a small loan may not be necessary if the individual already has a strong financial history.

To Establish Creditworthiness and to Have a Good Credit Score,one