Credit 101

______ is your ability to borrow money or purchase services or goods based an agreement to pay back on specific terms.

• Debit

• Credit

• Sale

• Economics

What types of credits can you get?

• Revolving Credit, Installment Loan, Open Credit

• Revolving Debit, Insurance, Charge Card

• Mortgage, Debit Card, Insurance

• Health Card, Disney, Open CRedit

This is a record of how someone manage his/her credit, prepared by what's known as Credit Bureaus.

• Credit Score

• ATM Receipt

• Credit Rating

• Credit Report

Who are the 3 main players in creating Credit Report?

• Innovis, Erithium, Lexington

• Experian, Innovis, Express

• TransUnion, Experian, Equifax

• Express, Innovis, Experian

Who creates Credit Reports?

• Creditor

• Credit Bureau

• Bank of America

• Clearing House

_________ is a 3-digit number that basically determines a borrower's ability to pay back a debt.

• Credit Score

• Credit Rating

• Credit Report

• Credit Balance

A bad Credit Score is ________?

• 720-850

• 630-689

• 690-719

• 300-629

An excellent Credit Score is ________?

• 300-629

• 720-850

• 630-689

• 690-719

A good Credit Score is ________?

• 720-850

• 630-689

• 690-719

• 300-629

These are items that could affect a borrower's credit rating or score that has a negative mark or decrease in the borrower's credit score.

• False Positive

• Negative Items

• Positive Items

• Bad Items