Credit Reports

What does a borrow pay the bank in addition to the money borrowed?

• credit

• interest

• debit

• tuition

Tags

CCSS.1.NBT.B.2B

CCSS.1.NBT.B.2C

How long does negative information remain on a credit report?

• 2 years

• 3 years

• 7 years

• forever

A credit report helps lenders decide if a borrow is financially responsible

• True

• False

Tags

CCSS.RI.4.5

CCSS.RI.5.5

CCSS.RI.6.5

CCSS.RI.7.5

CCSS.RI.8.5

Select all correct answers - Which of the following might look at a credit report?

• An individual who wants to know if his/her credit report has any errors

• A lender to decide if a borrower is financially responsible

• A future employer

Which items are included on a credit report? Check all that apply.

• name

• employer

• education level (high school, associates degree, bachelors, etc)

• address

• late payments

Which of the following would not appear on your credit report?

• social security number

• record of your cash purchases

• credit card accounts and balances

• prior addresses

A credit report tells a lender how much they should lend a borrower?

• True

• False

Which of the following would require the information on a credit report? Check all that apply.

• You have $1000 to buy a computer that costs $2000 at Best Buy, so you apply for a Best Buy Credit card

• You have $1000 to buy a car that costs $5000 and your parents loan you the rest.

• You have a part time job and want to deposit your money in a bank account and pay your bills with online banking

• You want to rent an apartment when you go to college