Credit Records and Laws (FL8)

Front

Everyone who applies for credit is approved.

Back

False

Front

Credit guard services are a great value because they are inexpensive and provide services that you cannot do for yourself.

Back

False

Front

Which law requires creditors to investigate and resolve billing errors?

Back

Fair Credit Billing Act

Front

What is the most likely outcome if someone steals your identity and opens a credit card in your name?

Back

Your credit score will decrease because the identity thief isn't paying the credit card debt.

Front

Property pledged to assure repayment of a loan

Back

collateral

Front

The complete record of your borrowing and repayment performance

Back

credit history

Front

Information from public records becomes part of your credit report.

Back

True

Front

How much does a credit guard service cost? Options: Free, $5-10 per month, $15-50 per month, $15-50 per year

Back

$15-50 per month

Front

Which law prohibits creditors from denying credit to someone based solely on their religion?

Back

Equal Credit Opportunity Act

Front

The account details section of a credit report shows the monthly balances of all of the consumer's credit accounts.

Back

True