Managing Credit Bellringer

Front

A key factor influencing credit scores is: Recent inquiries, Monthly expenses, Martial status, Education level

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Recent inquiries

Front

All of the following are part of a credit report EXCEPT: Spending Habits, Loan Repayment, Credit Limit Utilization, Current Credit Inquiries

Back

Spending Habits

Front

Failing to pay federal student loans may result in: Reduced student loan interest, Higher credit score, Tax refund garnishments, Revocation of your degree

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Tax refund garnishments

Front

A cosigner on a loan can help by:

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Boosting your chance to get the loan

Front

Which of the following is TRUE about a credit report?
Options:
It is a complete history of one type of credit you have
Credit reports are maintained by the 5 main credit bureaus
You can get a copy of your credit report for free
You can get a credit report only when you're 21 years old

Back

You can get a copy of your credit report for free

Front

Which of the following does NOT contribute to your credit score?
Your payment history,
Your debt-to-credit ratio,
Length of credit history

Back

Which banks issued your credit cards

Front

Establishing credit early can help with: Quick loan approvals, Higher credit card limits, Avoiding yearly credit checks, Getting better interest rates

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Getting better interest rates

Front

Which of the following is TRUE about finding errors on your credit report?
You may have to file a dispute with each credit bureau, You should wait until the end of the month before reporting, Finding errors is common & is not a big deal, Overlooked errors may result in you paying a fine

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You may have to file a dispute with each credit bureau

Front

The main advantage of a secured credit card is:

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Improving credit score

Front

Why might older individuals typically have higher credit scores?

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They have longer credit histories