Credit Bureaus and Collection Practices

According to Dave Ramsey, it is extremely important to have a high credit score.

• True
• False

Mrs. Weissinger believes that it IS possible to have credit and still be financially responsible.

• True
• False

The only way to have a FICO is to have debt.

• True
• False

A credit bureau can remove a late payment from my credit report once I have paid the late payment and all of the appropriate fees.

• True
• False

Which of the following will help improve your credit score?

• Pay cash for everything.
• Responsibly use your debit card.
• Responsibly use your credit card.
• None of the above

Which of the following is likely to check your credit score?

• Auto insurance company
• Credit card company, when applying for their card
• Utility company
• All of the above

Statistically speaking, who is more likely to steal your identity?

• Grocery store cashier

• A family member

• Your brand new neighbor

• Person behind you in the check-out line

On average, how long does it usually take to clean up your credit once it has been messed up by someone else?

• 30 days
• 60 hours
• 600 hours
• None. It isn't your responsibility if someone else messed it up.

Which is NOT a reason for checking your credit report?

• Looking to make sure income is listed correctly
• Looking for signs of identity theft
• Looking for errors
• All of these are reasons to check your credit report.

Which is NOT one of the three credit bureaus?

• Equifax
• Transunion
• Credit Karma
• Experian