Credit Reports and Scores

Front

What is the most common credit scoring system?

Back

FICO

Front

Does applying for a credit card affect your credit score if you do not use the card?

Back

False

Front

Name one of the three nationally recognized credit bureaus.

Back

Equifax

Front

What is the range of FICO Scores?

Back

300-850

Front

Can a landlord report failure to pay rent to a credit reporting agency?

Back

True

Front

What does a credit report contain?

Back

A credit report contains information about your credit history, including accounts, payment history, and inquiries.

Front

What is a credit score?

Back

A credit score is a numerical representation of a person's creditworthiness, based on their credit history.

Front

What factors influence your credit score?

Back

Factors include payment history, credit utilization, length of credit history, types of credit, and new credit inquiries.

Front

What is credit utilization?

Back

Credit utilization is the ratio of your current credit card balances to your credit limits, expressed as a percentage.

Front

What is the impact of a hard inquiry on your credit score?

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A hard inquiry can temporarily lower your credit score by a few points.