Credit Scores

Front

When may a person view their credit report for free?

Back

Once per year, from each of the credit reporting agencies

Front

Lauren no longer wants her Belk credit card. What is the best thing she can do with the credit card?

Back

Close the account by phone and in writing, then destroy the card.

Front

When Ben attempted to borrow money at the bank, he learned that his credit score is low. Which statement best describes what this likely means for Ben?

Back

The interest rate on the loan will be higher, since his credit score is low.

Front

What would you recommend Jaiden do to build his credit history? Options: Acquire several credit cards, Obtain a secured credit card, Reapply for the credit but include a letter of recommendation, Apply for a different credit card.

Back

Obtain a secured credit card.

Front

Zade's credit application has been declined because of his negative credit history. Which statement is most likely true? He pays his bills consistently and on time. He has applied for 4 credit cards and a car loan in the past 6 weeks. He has received 3 traffic tickets in the past 3 months. He holds 2 store credit cards, a bank credit card, a car loan, and a mortgage.

Back

He has applied for 4 credit cards and a car loan in the past 6 weeks.

Front

Which of the following is not included in an individual's credit report? Current and past addresses, Account balances, Medical information, Bankruptcies, foreclosures, evictions, liens, repossessions

Back

Medical information

Front

Emma wants to develop a positive credit history. How can she do this? Maintain reasonable amounts of credit, Have one type of credit account, Pay cash for the majority of purchases, Open credit accounts in her parents' names

Back

Maintain reasonable amounts of credit

Front

Mrs. Ogle was trying to get a loan for a new car. When the bank looked at her credit report, they saw her score was a 780. Based on this number, what will the bank determine?

Back

That Mrs. Ogle has excellent credit and they will loan her money for the car at a low interest rate.

Front

BB&T is a bank that makes funds available for others to borrow. BB&T is considered the

Back

Lender

Front

Mr. Taft signed on a loan for his son, Ethan. If Ethan does not make the payments on the loan, Mr. Taft will have to repay the loan. Mr. Taft is the

Back

Co-signer