Please post detailed answers to the following questions using complete sentences.

Many countries don't have a credit score system like the United States. Do you think the credit score system is a fair way to monitor people's credit history? If so, why? If not, why not? What alternatives could work instead?

Respond to at least one classmate for full credit. Responses must have some content; you can't just write "I agree" or anything similar. The response must have some substance.

Question

29-07-2024
Business

Answered

Please post detailed answers to the following questions using complete sentences.

Many countries don't have a credit score system like the United States. Do you think the credit score system is a fair way to monitor people's credit history? If so, why? If not, why not? What alternatives could work instead?

Respond to at least one classmate for full credit. Responses must have some content; you can't just write "I agree" or anything similar. The response must have some substance.

Answer :

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what multiplied by what other then 2 equals 232

GinnyAnswer GinnyAnswer · Answer 1 · 2024-07-29T01:41:43-04:00

Final answer:

The credit score system is fair based on financial history, with alternatives such as income verification. It greatly impacts loan approvals, credit rates, and job opportunities.

Explanation:

Credit score system fairness: The credit score system can be considered fair because it is based on individuals' financial history rather than personal characteristics like race or gender. Mistakes can be overcome, and a bad credit score is not permanent.

Alternatives: Some alternatives to the credit score system could include income verification, asset assessment, or debt-to-income ratios to evaluate creditworthiness.

Impact: Credit scores influence loan approvals, credit card rates, and even job opportunities, underscoring the importance of maintaining a good credit score.

Learn more about Credit scoring system here:

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