Increasing your credit score

Increasing your credit score

Assessment

Flashcard

Other

11th Grade

Practice Problem

Hard

Created by

Wayground Content

FREE Resource

Student preview

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10 questions

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1.

FLASHCARD QUESTION

Front

What is the difference between a credit rating and a credit score?

Back

A credit rating is an assessment of creditworthiness, while a credit score is a number that determines creditworthiness.

2.

FLASHCARD QUESTION

Front

What is the range of a FICO score?

Back

300 to 850

3.

FLASHCARD QUESTION

Front

What is considered a good credit score?

Back

700 or higher

4.

FLASHCARD QUESTION

Front

How can individuals establish initial credit?

Back

By having someone with an established credit history cosign their credit card application.

5.

FLASHCARD QUESTION

Front

What is one way to avoid credit risk?

Back

Paying outstanding balances before interest and other charges accumulate.

6.

FLASHCARD QUESTION

Front

Why is it important to have a good credit rating?

Back

To receive better insurance rates, to find a better job, and to make home improvements.

7.

FLASHCARD QUESTION

Front

What are the Five Cs of Credit?

Back

Character, Capacity, Capital, Conditions, and Collateral.

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