L214 | Session 14 Credit Scores

Credit Score is important because:

• It tracks our transactions for fun.

• It shows ability to repay loans.

• It informs customers about credit worthiness.

• Lenders check it for loan/credit card approval.

Which of these is a poor credit score?

• 300

• 500

• 700

• 900

Is it a wise decision to make only your minimum monthly payment for your credit card?

• Yes

• No

A credit score tells a bank how ______ a borrower is.

• Creditworthy

• Untrustworthy

• Unreliable

• Flaky

Which of these is an excellent credit score?

• 300

• 500

• 700

• 900

Which of the following is a tip to improve your credit score?

• A) Pay bills on time

• B) Spend more on credit cards

• C) Use credit cards frequently at ATMs

• D) Keep credit card balance high