Credit Unit Flashcard

Front

FICO score

Back

A person's credit score calculated with software from Fair Isaac Corporation

Front

Which agencies are known as credit bureaus? Options: Experian, TransUnion, and Equifax; Visa, MasterCard, and American Express; Google, Apple, and Microsoft; Facebook, Twitter, and Instagram

Back

Experian, TransUnion, and Equifax

Front

What do credit bureaus do with your credit history?

Back

Sell it to creditors

Front

What is a credit report compared to in the text? Options: A financial statement, A report card for your credit history, A bank account summary, A tax return document

Back

A report card for your credit history

Front

Why is it important to check your credit report regularly?

Back

To spot signs of fraud or identity theft

Front

At what age can you request a free copy of your credit report from each of the three main credit bureaus?

Back

18

Front

How often can you request a free credit report from each bureau?

Back

Once a year

Front

What should you avoid when trying to get your credit report? Options: Paying a fee on a website, Visiting annualcreditreport.com, Checking all three bureaus, Requesting it every four months

Back

Paying a fee on a website

Front

Why is it a good idea to check all three credit bureaus?

Back

Each tracks your credit history differently

Front

How many times a year can you monitor your credit if you get one report every 4 months?

Back

3 times