Being Late on Credit Payments Only 2-3 Times Per Year

question 169

True/False

Being late on credit payments only 2-3 times per year pay label you a "late payer" in your credit file.

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Definitions:

Primacy Effect

The tendency to remember information at the beginning of a list better than the information that follows.

Upward Counterfactual

involves imagining or thinking about how a situation could have turned out better than it did, often leading to feelings of regret.

Downward Counterfactual

Imagining how situations could have been worse, which can sometimes improve emotional state by making one's current situation seem better in comparison.

Magical Thinking

The belief that one's thoughts, words, or actions can achieve specific effects in the real world in ways that defy the conventional laws of cause and effect.