Credit Scores
Federal Reserve
All of the following make up the big three credit reporting agencies EXCEPT:
It can impact your ability to be approved for bank loans
Having a good credit score is important because:
All of the above
Having a low credit score can make it more difficult to:
One credit report from each credit bureau
How many free credit reports are you legally entitled to each year?
Get in touch with credit bureaus to see if they have different or inaccurate information on your credit history.
If your credit reports show different scores, what should you do?
All of the above.
In which of the following situations is having a good credit score important?
Pay off his credit card balance each month.
Jose wants to be sure he maintains a high credit score as he is planning to buy a new car soon. What should he do to ensure his score stays high, allowing him to buy his dream car?
Use only a small percentage of your credit limit.
What can a person do to help increase their credit score?
All of the above.
What can you do it make sure you have a healthy credit report?
I and III
Which action can hurt your credit score? I. Paying your phone bill late. II. Taking the bus to work. III. Maxing out several credit cards. IV. Using the internet to pay your bills
Know your exact credit score
Which action is LEAST important to maintaining a healthy credit score?
Missing a car payment.
Which behaviors might lead someone to have a low credit score?
A numerical rating that expresses how likely you are to repay your debts.
Which best explains what a credit score represents?
II and III
Which is true of someone with a low credit score?
Payment History
Which of the following MOST influences your credit score?
You forgot to pay the cable bill.
Which of the following actions can NEGATIVELY impact your credit score?
You inquire about a credit card charge.
Which of the following actions has NO impact on your credit score?
Paying off your credit card bill
Which of the following actions would improve your credit score?
The more money you make, the higher your credit score.
Which of the following is NOT true of credit scores?
They are more likely to pay bills on time.
Which of the following is true of a person with a high credit score?
All of the above.
Which of the following statements about credit scores is TRUE?
