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Managing Credit

Authored by Kristen Bibb

Social Studies

9th - 12th Grade

Used 190+ times

Managing Credit
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25 questions

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1.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

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How can you build a positive credit history as a college student?

Get a credit card but don't use it to avoid more debt

Spend up to your credit limit each month

Become an authorized user on an adult's card

Make only the minimum payment each month

2.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

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T/F: A negative credit event (bankruptcy) can have a WORSE impact on a higher credit score.

True

False

3.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

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Which of the following is TRUE about a credit report?

It is a complete history of one type of credit you have

Credit reports are maintained by the 5 main credit bureaus

You can get a copy of your credit report for free

You can get a credit report only when you're 21 years old

4.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

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Which of the following does NOT contribute to your credit score?

Your payment history

Which banks issued your credit cards

Your debt-to-credit ratio

Length of credit history

5.

MULTIPLE SELECT QUESTION

30 sec • 1 pt

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All of the following are benefits of having a good credit score EXCEPT...(hint: choose 2 correct answers)

You can get a higher return on your Retirement fund

Higher interest rate on credit cards and loans

Easier approval for rental apartments and houses

Better car insurance rates Better car insurance rates

6.

MULTIPLE SELECT QUESTION

30 sec • 1 pt

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Why might someone have a thin file? (hint: choose 2 correct answers)

They've had multiple lines of credit open for 15 years

They only have 4 types of credit open

The credit bureaus mistakenly think you have passed away

You are relatively new to establishing credit

7.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

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How are a credit score and credit report related?

A credit report is determined by the factors in your score

A credit score is determined by the factors in your report

Credit reports are less important than your credit score

They're not related at all

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