What is consumer responsibility

There's two definitions.

Explanation:

1: taking personal responsibility for the consequences and costs of what you utilize and buy

2: five consumer responsibilities- staying informed, follow instructions, use products/services properly, speak against violations, and don't illegally purchase things

credit history is used by lenders to determine whether you are a 'risky' person to give their money to.

having a short history provide very little data for the lenders. they wouldn't be able to determine your credit behavior from such a small samples. even if they are perfect.

having long credit history with few blemishes provide larger and more accurate data for the lenders to predict your credit behavior.