Credit Report & Credit Score 4/14/20

A credit report is _______

• a record of your credit history, debt & repayment history
• a number that tells lenders how much money you earn
• a loan you will have to pay back later
• the bill you receive from the credit card company

Which of the following is a TRUE statement?

• If your credit score is high, you won't have to repay the money you owe.
• You can access your credit score for free once every month.
• A landlord can access your credit report to help decide if you are financially responsible..
• Your credit score can never increase, only decrease.

True or False: If the information in your credit report is inaccurate, it cannot be changed.

• True
• False

Which of the following is a TRUE statement?

• Reasonable debt can be good for your credit score.
• Only you can access your credit score.
• Your credit score is a number that ranges from 0-100.
• Your credit score is fixed.

Sara wants to show lenders that she is financially responsible. She should_______

• charge things she knows she can afford and pay the balance quickly.
• max out her credit cards.
• pay less than the minimum payments on her credit card bills.
• never borrow money and never check her credit score.

Gary's credit score is below 640 so he______

• will never be allowed to buy a car.
• will have a hard time borrowing money & will be charged a high interest rate.
• will be charged very low interest rates.
• cannot access his credit report without paying a fee.

You can access your credit report_______

• for free whenever you want.
• only once a year.
• only if your credit score is low.
• for free once a year.

Rita notices her credit score has gone down. She most likely____

• maxed out her credit cards.
• keeps her debt below 30% of her credit card limit.
• pays the balance on her credit card every month.
• never misses a credit card payment.

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

• True
• False

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

• True
• False

Tags

CCSS.RL.11-12.6