Credit and Credit Scores

Trust given to another person for the payment of a loan

• Creditor

• Capacity

• Character

• Credit

Applying for a credit card only affects your credit score if you use the card.

• False

• True

The more credit cards you have, the better.

• True

• False

Tags

CCSS.RL.11-12.6

Payment history accounts for around _______ of your credit score.

• 1/2

• 3/4

• 35%

• 90%

Tags

CCSS.3.NF.A.1

CCSS.3.NF.A.2B

Your credit score determines how successful you will be in obtaining a loan

• True

• False

What is the most important factor of a credit score?

• Types of credit

• Payment History

• Amount of debt

• Inquires

The highest FICO score possible is:

• 1600

• 1000

• 850

• 700

Tags

CCSS.HSN.CN.A.2

Your credit score is not configured off of which of the following:

• Payment history
• Amount owed
• GPA
• Length of credit history

Which of the following items can be found on a credit card statement?

• Payments made and new charges

• Fees and interest charged

• Year to date totals and how long it will take you to pay it off w/minimum only

• All of these

Bank of America issues you a credit card with a maximum balance of $1,000.  This is an example of:

• Finance Charge
• Co-Signer
• Minimum Payment
• Credit Limit