Respuesta :
Answer:
Given that the individual's previous credit score was 716, it's reasonable to assume that their credit score may have decreased slightly due to the credit card application. Therefore, option b. 720 or option c. 710 might be the most likely credit score now, depending on the impact of the credit card application on their overall credit profile. However, without more information, it's challenging to determine the exact credit score change.
Explanation:
It's challenging to determine the exact credit score change due to applying for a store credit card as it depends on various factors, including the individual's overall credit history, credit utilization, payment history, length of credit history, and the specific credit scoring model used by the lender.
However, applying for a new credit card may temporarily decrease the credit score due to the hard inquiry made by the lender during the application process. The decrease is typically minor and temporary, lasting for a few months. If the individual has a strong credit history and manages the new credit card responsibly, their credit score may bounce back relatively quickly.
Given that the individual's previous credit score was 716, it's reasonable to assume that their credit score may have decreased slightly due to the credit card application. Therefore, option b. 720 or option c. 710 might be the most likely credit score now, depending on the impact of the credit card application on their overall credit profile. However, without more information, it's challenging to determine the exact credit score change.
Final answer:
The student's credit score was likely to have decreased slightly to 710 from 716 due to the hard inquiry associated with applying for a new store credit card. Therefore, option c. 710 is the correct answer.
Explanation:
The student's last subjective credit score was 716, and since then, the only credit event has been applying for a store credit card. Applying for a new credit card can result in a hard inquiry on your credit report, which could temporarily lower your score by a few points. Given this, the most likely current credit score would be slightly lower than 716 due to the impact of a hard inquiry. Therefore, option c, 710, is the most likely current credit score. This scenario aligns with understanding how credit inquiries impact your score, even though getting more credit cards but not using them can increase your overall credit availability and potentially improve your score over time.
