The correct option is (B).
A numerical rating that expresses how likely you are to repay your debits best defines the credit score.
Further Explanation:
Credit score: A credit score represents the creditworthiness of an individual based on their financial transaction history. If a person has a sound and on-time payment records, then he would have a high credit score and vice versa.
Low credit score means that a person is not paying their bills and dues on time. The credit score is used by the lenders to assess the capability of the borrower to repay the debt. Generally, lenders do not prefer to lend money to the person with a low credit score.
Justification for the correct and incorrect options:
A.
A number showing how likely you are to have more than one credit card: It is an incorrect option. Credit score does not tell about the number of credit cards.
B.
A numerical rating that expresses how likely you are to repay your debits:This is the correct option. Credit score defines the creditworthiness of a person.
C.
A numerical rating that shows how much money you have in your bank account: This is an incorrect option. Credit score does not have any relation with the bank account balance.
D.
A number expressing your yearly income:This is an incorrect option. The level of income and credit score are not directly related.
Learn more:
1. 1Learn more about the credit card balance
https://brainly.com/question/6453895
2. Learn more about low credit card score
https://brainly.com/question/2828467
3. Learn more about various approaches to increase the credit score
https://brainly.com/question/6846931
Answer details:
Grade: Senior School
Subject: Business studies
Chapter: Money & Banking
Keywords:best, explains, credit score, represents, number, showing, likely, more, than, one credit card, numerical rating, expresses, repay, debits, numerical, rating, shows, money bank account, number expressing, yearly income.
