1. If you have good credit history or score you will have low-interest rates on credit cards and loans which means whenever you loan money you pay lower finance charges for loans. If you have a good credit score you also may get to loan more money than a person with a relatively low credit score. Loans and applying for credit cards may also be easier because you have a higher credit score.
2. I think that there can be 2 or more items that may hinder a person's chances of getting approved for a loan an example would be if someone has a bad credit history. This may hinder someone's chances of getting a boat because if someone had a bad history of spending lots of money and they are in debt and their loans are overdue they may not get the money to loan the boat. The other item that may hinder your chances of getting a loan for a boat is public records. If you have a bad history with the police that is obviously a red flag for them and they may not want someone who has trouble with the police.
3. I think that the factor represented by 35% on the graph is paying on time. I think this is the main factor because they want to see how much they can rely on you and if you pay your loans on time they will see you as a responsible person and will further improve your credit score. If you don't pay on time they may think your lazy and cannot be trusted to take care of the money so they lower your credit score further lowering your amount to loan.
4. I think that the factor represented by 30% is the amount you owe. I think that the amount you owe is similar to how you pay on time. This is because the amount you owe can see how responsible you are with money and if you can pay that amount back. I think that since how you pay on time affects how long you take and how much you pay it has more of an effect on your credit score.
and btw if it is bad it's because i'm a middle schooler
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