Credit Test Review

Front

A credit score of 430 will make it easy to

Back

None of the 3 answer choices

Front

A person has three credit cards with very large outstanding balances and is unable to make payments on them. Which action should the person take?

Back

Notify the credit card companies in order to negotiate a new payment plan.

Front

Ellen, Barbara, and Paul all charged $1,000 on their credit cards last year. Who paid the most in finance / interest charges?

Back

Paul, who only pays the minimum amount each month

Front

Maxing out or reaching your credit limit can help improve your credit score.

Back

False

Front

Act protecting borrowers from unfair billing practices?

Back

The Fair Credit Billing Act

Front

The decision to give an applicant credit is made by the: creditor / loaner, Fire Department, IRS, borrower / applicant

Back

creditor / loaner

Front

What can debt collectors do if you don't make payments towards your loans?

Back

Call you between 8am-9pm to talk to you about your loans

Front

All of these help determine your FICO credit score EXCEPT: Length of credit history, Payment history, Amount you owe, Lending cash to friends and family members

Back

Lending cash to friends and family members

Front

It's good to avoid late payments on credit cards.

Back

True

Front

A credit score of 820 will make it easy to obtain: a mortgage, a car loan, a credit card?

Back

All 3 answer choices