Answered

Welcome to Westonci.ca, where curiosity meets expertise. Ask any question and receive fast, accurate answers from our knowledgeable community. Discover comprehensive answers to your questions from knowledgeable professionals on our user-friendly platform. Experience the ease of finding precise answers to your questions from a knowledgeable community of experts.

Why is having a long credit history with a few blemishes that were corrected better than a short history that is clear?
No plagiarizing, please, thank you!


Sagot :

Answer:

Lenders don't like risk because it can lose them money, so they're cautious on who they're lending to. They do this by checking people's credit history. They prefer people who have longer credit history even with a few blemishes that are corrected rather than lending to people who have a short clear history mainly because they have little to no experience and can be unpredictable what they may do.

Explanation: