General Knowledge · General Awareness
Consider the following statements regarding the components and weightage of a typical retail credit score calculation: Statement I: Payment history is the most significant factor, and even a single payment delayed by more than 90 days can lead to a drastic drop in credit score. Statement II: The length of credit history considers both the age of the oldest account and the average age of all accounts, meaning that closing old, unused credit cards can lower a customer's credit score. Statement III: Credit mix refers to the ratio of credit card debt to total income, and a higher ratio is always preferred by scoring models. Which of the statements given above is/are correct?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1I, II and III
- 2Only II and III
- 3Only I and II✓
- 4Only I
Correct answer
Only I and II
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