Credit Scores and Reports

Routinely paying bills late will create

• Negative Credit

• Positive credit

How long will negative items remain on your credit report?

• Never on a credit report

• Two years

• Seven Years

• Ten years

Edward wants to develop a positive credit history. How should he do this?

• Maintain reasonable amounts of available credit
• Have one type of credit account
• Pay cash for the majority of purchases
• Open credit accounts in his parents’ names

Where can you get a free copy of your credit report?

• annualcreditreport.com

• freecreditreport.com

• getmycreditreport.com

• creditreport.gov

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

• True
• False

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

• True
• False

I should review my credit report for errors.

• True
• False

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

• 850
• 950
• 300
• 250

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

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

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