Quiz about Credit Reports

Question 1

My credit history does not affect my chances for renting my first apartment.

Accepted Answer

False

Answer

True

Question 2

To build a positive credit history, I should pay cash for all purchases.

Accepted Answer

False

Answer

True

Question 3

Routinely paying my bills late could negatively affect my credit history.

Accepted Answer

True

Answer

False

Question 4

When I apply to borrow money for a car, the loan company will most likely look at my credit history.

Accepted Answer

True

Answer

False

Question 5

I need to first pay bills, such as a loan or a phone bill to establish credit history.

Accepted Answer

True

Answer

False

Question 6

Having a small amount of debt is good for my credit history.

Accepted Answer

True

Answer

False

Question 7

The more credit cards I have, the higher my credit score will be.

Accepted Answer

False

Answer

True

Question 8

My landlord can report my failure to pay rent to a credit reporting agency.

Accepted Answer

True

Answer

False

Question 9

If my credit card allows me to charge up to $1,000, I should charge the maximum amount to build my credit history.

Accepted Answer

False

Answer

True

Question 10

Paying the entire amount on my credit card creates a bad credit history.

Accepted Answer

False

Answer

True

Question 11

I should review my credit report for errors.

Accepted Answer

True

Answer

False

Question 12

A credit report contains my personal information such as my address and social security.

Accepted Answer

True

Answer

False

Question 13

Late payments are retained on credit reports for 7 years.

Accepted Answer

True

Answer

False

Question 14

A bad credit report cannot affect my chances of getting a job.

Accepted Answer

False

Answer

True

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