Wise test review

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How can you improve your credit score? Options: Make payments on time, Reduce overall debt, Limit your applications, All of the above

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All of the above

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The 3 credit bureaus that determine your FICO score are: Equifax, Transunion, and Experian, Transamerican, Equality, Experience, Transparcel, Equin, Faxqui, Crederian, Equiunion, Experfax

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Equifax, Transunion, and Experian

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How can one avoid paying interest on money borrowed on a credit card? Options: Pay the amount used in full during the current billing cycle, Make the minimum payment on the account statement, Pay at least half of the balance showing on the statement, Not making a payment at all.

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Pay the amount used in full during the current billing cycle

Front

What are 2 of the top 5 factors that assist in calculating your credit score? Options: Payment History and Amount of current debt, Length of credit history and types of credit, Payment History and Job History, Payment History and Credit inquiries

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Payment History and Amount of current debt

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What is credit?

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Borrowed money

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What is a credit score?

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A three-digit numerical rating that reflects how likely you are to repay your debt.

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How is credit used? Options: Employers may check job applicants' credit., Before renting an apartment, the landlord will check the prospective tenant's credit., If you apply for a cell phone or credit card, your credit will be checked.

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All of these are correct, these are only some of the ways credit can be used.

Front

What actions can decrease your credit score? Pay your bills on time, Only check your credit score once a year, Max out your credit cards, Pay off your full debt at one time

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Max out your credit cards

Front

The gradual decrease in the value of an asset is called

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deprication

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A type of debt that is backed by something of value is called

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secured debt