Credit scores

What does a credit score represent?

• The amount of years a person has been paying a loan.

• The amount of credit cards a person has.

• The credit history of a person.

• The amount of money a person has saved.

A low credit score indicates that the person is financially responsible.

• True

• False

A high credit score heightens the persons chances of getting a loan.

• True

• False

Which of the following companies are credit bureaus? You can select multiple options.

• Equifax

• BAC Credomatic

• Parabellum Inc.

• TransUnion

Which of the following factors are taken into account when calculating a credit score? You can select multiple options.

• New Credit

• Types of Accounts

• Length of History

• Payment History

Which of the following intervals exemplifies excellent credit scores?

• 300-549

• 550-649

• 700-749

• 750-850

Read the following situation:

Gloria has a credit card with a limit of $5000. Every month she uses up at least 90% of her credit and pays interest rates because she cannot cover the full amount monthly. Are Gloria's credit habits going to help her get a high score?

• Yes

• No

Which of the following are good credit habits? You can select multiple options.

• Missing payments

• Avoid exceeding your credit limits

• Not spending more than you can afford

• Making payments above the minimum