Brian has a bad credit score because of missing payments on his car loan. Which of the following are the most
likely consequences of having a bad credit score? (Choose 2)
000
Higher interest rates on future loans
Denied credit in future applications
IRS may audit his taxes
Stock broker may not sell him shares of stock
Employer may drop his health insurance plan

Answer :

Final answer:

Having a bad credit score can result in higher future loan interest rates and denied credit applications.


Explanation:

Having a bad credit score can lead to two major consequences:

  1. Higher interest rates on future loans: Lenders may view individuals with bad credit scores as higher risk borrowers and charge them higher interest rates to compensate for the increased risk.
  2. Denied credit in future applications: Individuals with bad credit scores may have their credit applications denied or may be approved for credit with lower limits and less favorable terms.

Learn more about consequences of having a bad credit score here:

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