For each scenario, use the items in the tables to indicate whether the item will improve or decrease the individuals credit score. Then answer the question that follows. George just turned 21 and has applied for a few credit cards. Here are some details about his profile Item Improve or decrease credit score He currently has 2 credit cards He got his first credit card 8 months ago He has no student loans He has applied for 4 credit cards in the last year (and had 2 applications accepted) He opened his last credit card 4 months ago All of his credit cards currently have a balance, as he has trouble paying off his card each month He has $5,000 currently outstanding on all his credit cards He missed a payment in the last three months when he forgot to notify the card company that he had recently moved out of his apartment. He was 30 days behind on making a payment. He has no cards currently past due His credit card balances of $5,000 are about 55% of his overall limits He has never gone through a bankruptcy or other proceeding
Directions: For each scenario, use the items in the tables to indicate whether the item will improve or decrease the individuals credit score. Then answer the question that follows.
George just turned 21 and has applied for a few credit cards. Here are some details about his profile
Item Improve or decrease credit score
He currently has 2 credit cards
He got his first credit card 8 months ago
He has no student loans
He has applied for 4 credit cards in the last year (and had 2 applications accepted)
He opened his last credit card 4 months ago
All of his credit cards currently have a balance, as he has trouble paying off his card each month
He has $5,000 currently outstanding on all his credit cards
He missed a payment in the last three months when he forgot to notify the card company that he had recently moved out of his apartment. He was 30 days behind on making a payment.
He has no cards currently past due
His credit card balances of $5,000 are about 55% of his overall limits
He has never gone through a bankruptcy or other proceeding
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