Understanding Credit Reports

Which type of account is a credit account?

• Checking account

• Savings account

• Borrowing money

• Retirement account

Which type of account is NOT a credit based account?

• Home mortgage

• Auto loan

• Personal loan

• Retirement account

Credit scores can be used for which type of account?

• Credit account

• Checking account

• Savings account

• Retirement account

What does the credit ratio compare?

• Amount borrow to amount available

• Amount available to amount borrowed

Which person would be a higher RISK to borrow money?

• 
• They would be the same risk

• 

Which person would be the highest RISK to borrow money?

• Score of 550

• Score of 650

• Score of 750

A high credit score means...

• There is low RISK of borrowing money

• There is no difference in risk or scores

• There is high RISK of borrowing money

Late payments stay on a credit report for ....

• up to 3 years

• up to 5 years

• up to 7 years

• up to 15 years

Which person is using 50% of their available credit?

• 
• They are using the same percent

• 

Which person is using 20% of their available credit?

• 
• They are using the same percent

•