answersLogoWhite

0

you will get a low credit score. you can always check your credit score on three credit reporting agencies

User Avatar

Wiki User

15y ago

What else can I help you with?

Continue Learning about Finance

How can I determine a company's credit rating?

You can determine a company's credit rating by looking at reports from credit rating agencies like Standard Poor's, Moody's, or Fitch. These agencies assess a company's financial health and assign a rating based on factors like its debt levels, profitability, and market position. A higher credit rating indicates lower risk of default, while a lower rating suggests higher risk.


How likely am I to get a loan?

Your likelihood of getting a loan depends on factors such as your credit score, income, and debt-to-income ratio. Lenders assess these factors to determine your creditworthiness and the risk of lending to you. It's important to have a good credit history and stable income to increase your chances of getting approved for a loan.


How does LLC credit work and what are the key factors that determine an LLC's creditworthiness?

LLC credit works by assessing the financial health and reliability of a limited liability company (LLC) to repay debts. Key factors that determine an LLC's creditworthiness include its financial history, revenue, profitability, debt levels, industry trends, and management team's experience. These factors help lenders evaluate the risk of lending to the LLC.


How are credit scores rated and what factors determine a person's credit score?

Credit scores are rated on a scale from 300 to 850, with higher scores indicating better creditworthiness. Factors that determine a person's credit score include payment history, amounts owed, length of credit history, new credit, and types of credit used.


How can I determine what type of credit card is best for me?

To determine the best type of credit card for you, consider factors such as your spending habits, credit score, rewards preferences, and fees. Compare different cards based on these factors to find one that aligns with your financial goals and needs.

Related Questions

What are the four factors that determine a persons creditworthiness?

Factors that determin a person's creditworthiness arePayment history, amount of outstanding debt, amount of time that the debt has been open, and the amount of new credit.


What factors determine the risk level in the Risk Assessment Matrix?

Probability and Severity are the two factors determine the risk level in the Risk Assessment Matrix.


What two factors determine the risk level in the Risk Assessment Matrix?

Probability and Severity are the two factors determine the risk level in the Risk Assessment Matrix.


What are some factors that determine the length of the credit period?

Some factors that determine the length of the credit period include the creditworthiness of the buyer, the industry standards for payment terms, the seller's risk tolerance, and the competitive environment. Additionally, economic conditions, market trends, and the relationship between the buyer and seller can also influence the length of the credit period.


Which two factors determine the risk level in the Risk Assessment Matrix?

Probability and severity determine the risk level in the Risk Assessment Matrix.


Which two factors determine the risk level in the assessment matrix?

Probability and severity determine the risk level in the Risk Assessment Matrix.


How can I determine a company's credit rating?

You can determine a company's credit rating by looking at reports from credit rating agencies like Standard Poor's, Moody's, or Fitch. These agencies assess a company's financial health and assign a rating based on factors like its debt levels, profitability, and market position. A higher credit rating indicates lower risk of default, while a lower rating suggests higher risk.


Do all credit reports show the results and risk factors involved with identity theft?

Not all credit reports show this listed out. TransUnion and Expedia show the risk factors involved. Most of the credit reports show the risk factors of what could happen should your idenity be stolen.Identity theft can have bad consequences.


What type of businesses use or employ credit risk management services?

Most any business uses credit risk management services to determine the character of potential employees. Employees with a poor credit history are not hired. The original use of credit risk management services is to determine the risk in loaning money to a person or organization. Therefore banks, credit card companies, mortgage companies, auto finance companies, and cell phone companies use credit risk management services.


What factors help geologist determine earthquake risk for region?

The factors that help geologists determine for earthquake risk for religion are the movement of seismic waves along faults and friction.Hope this helped!


How likely am I to get a loan?

Your likelihood of getting a loan depends on factors such as your credit score, income, and debt-to-income ratio. Lenders assess these factors to determine your creditworthiness and the risk of lending to you. It's important to have a good credit history and stable income to increase your chances of getting approved for a loan.


How does LLC credit work and what are the key factors that determine an LLC's creditworthiness?

LLC credit works by assessing the financial health and reliability of a limited liability company (LLC) to repay debts. Key factors that determine an LLC's creditworthiness include its financial history, revenue, profitability, debt levels, industry trends, and management team's experience. These factors help lenders evaluate the risk of lending to the LLC.