Credit Reports and Scores

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

When financing a car, which credit score will warrant the best rate?

• 850
• 950
• 300
• 250

What is credit?

• Free money
• Borrowed money
• Standard of living
• A term that causes tears

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

True or False: Missing a payment on your credit card has no effect on your credit.  

• True 
• False

If you have bad credit, it maybe ...

• harder to obtain a mortgage loan
• ok
• likely for you to get a better paying job
• easier to get a credit card

A credit score of 800 is considered _____

• Poor
• Fair
• Good
• Amazing

Which one of the following is not included on a credit report?

• Date of birth
• Current address
• Previous address
• Medical records

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

• True
• False