Question

PLEASE HELP!!!!

Mia has had five credit accounts for 10 years. She has a debt of $2,000 and makes all of her payments on time every month. Sal also makes timely payments on his similar debt. Sal has had credit accounts for two years. Based on the information, who has a better credit score?



a)Sal has a better credit score because he has had debt for a shorter period of time.



b)Mia has a better credit score because she has managed debt for a longer period of time.



c)They currently do not have credit scores because they still owe money.



d)Their credit scores would be equal because they owe approximately the same amount to the same number of creditors.

Answer 1

b)Mia has a better credit score because she has managed debt for a longer period of time.

The things that factor into credit scores are payment history, length of credit history, total amount owed, and how many new credit accounts someone has.