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Answer:
Pete is irresponsible and will not pay the loan back on time.
Explanation:
Borrowers can be classified into four groups depending on their credit scores. Credit score range from 300 to 850
Scores between 300 to 629: Bad
From 630 to 689: Fair
From 690 to 719: Good
From 720 t0 850 : Excellent
Pete is in the lower band of credit score. His credit score is very low. It could be a result of bad history in debt repayment. For this reason, lenders will assess him as a high-risk customer. Pete is poor at managing debts and is likely to default on future loans.
