Credit Scoring Systems Tend to Ignore the Degree to Which

question 21

True/False

Credit scoring systems tend to ignore the degree to which you owe a high percentage of the available credit limits on your credit cards.

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Definitions:

Drawee

The party on whom a cheque or draft is drawn, responsible for paying the specified amount on the instrument.

Payee

The party in a financial transaction who receives the payment.

Unconditional Promise

A firm commitment or guarantee without any stipulations or requirements for its fulfillment.

Delegator

A party in a contract who transfers his or her duties to perform to a third party who is not part of the original contract (a delegatee).