Credit Quiz 2024

How can you improve your credit score?

• Make payments on time

• Reduce overall debt

• Limit your applications

• All of the above

The 3 credit bureaus that determine your FICO score are:

• Equifax, Transunion, and Experian

• Transamerican, Equality, Experience

• Transparcel, Equin, Faxqui

• Crederian, Equiunion, Experfax

What is a credit score?

• A credit score is a three-digit numerical rating that reflects how likely you are to fail at paying your debts

• A five-digit numerical rating that reflects how likely you are to repay your debt.

• A three-digit numerical rating that reflects how likely you are to repay your debt.

• A credit score is a five-digit numerical rating that reflects how likely you are to fail at paying your debts

Your Credit Score could effect whether or not you can rent an apartment?

• True

• False

A good way to build credit is to open as many credit cards as you can?

• True

• False

What is the single best thing you can do to help build a good credit score and keept it once you have it?

• Pay my bills on time

• Keep balances on all accounts low

• Take out only the credit I need when I need it.

• Pay cash

Race and gender are factors in a credit score.

• Myth
• Fact

Student loans impact your credit score.

• Myth
• Fact

A yearly fee that may be charged for having a credit card.

• Annual Fee

• Penalty Fee

• Option Fee

• Calendar Fee

Fee charged when a credit card holder does not make the minimum monthly payment by the due date.

• Late Payment Fee

• Penalty Fee

• Transfer Fee

• Date Fee