Managing Credit

Front

What should you do FIRST if you find an error on your credit report?

Back

Contact the credit card company to have them fix it.

Front

What can negatively impact your credit score if done in a short period of time?

Back

Applying for multiple credit cards.

Front

What is the best way to improve a low credit score?

Back

Make on-time payments.

Front

Which free credit report service is authorized by federal law and accessible once per year?

Back

AnnualCreditReport.com.

Front

Which method of getting your credit score involves paying a fee?

Back

Getting a score from myFICO.com.

Front

What is a credit score?

Back

A numerical representation of a person's creditworthiness, typically ranging from 300 to 850.

Front

What factors influence your credit score?

Back

Payment history, credit utilization, length of credit history, types of credit, and new credit inquiries.

Front

What is credit utilization?

Back

The ratio of your current credit card balances to your credit limits, expressed as a percentage.

Tags

CCSS.6.RP.A.3B

Front

Why is it important to check your credit report regularly?

Back

To ensure accuracy, identify potential fraud, and understand your credit standing.

Front

What is the impact of late payments on your credit score?

Back

Late payments can significantly lower your credit score and remain on your report for up to seven years.