Credit Score and Report Quiz

All of the following would show up on a credit report EXCEPT...

• Salary of your current job

• Payment history of your car loan

• Credit card payment history

• Student loan activity

Which government-run website allows you to download your credit report for free on an annual basis?

• creditkarma.com

• annualcreditreport.com

• getcreditreportshere.com

• freecreditreport.com

Your friend confides in you that he has a low credit score. What is the single best way for him to improve his score?

• Cancel his credit cards

• Make on-time payments

• Get a car loan

• Check his credit score

Melvin is 19 years old and wants to begin establishing a credit history. Which action should he take to meet that goal?

• Always say "credit" when asked "credit or debit?" at a store

• Ask his parents to cosign a loan or credit card or get a secured credit card

• Any time he borrows money from a friend or family member, be sure to pay it back promptly

• Use a prepaid Visa or Mastercard gift card

Which of the following individuals or groups would be the LEAST likely to look at your credit score?

• Employers

• Credit card companies

• Auto insurers

• Colleges you are applying to

You have a credit card and want to know the best way to use it to boost your credit score. Which step will have the GREATEST impact?

• Using less than 20% of the credit limit on your card and paying it off in full every month by the due date

• Always carry a balance from month to month

• Only make the minimum payment required on your credit card every month by the due date

• Put the credit card in a drawer and don't ever use it

You forgot to pay your credit card bill one month. How long will that late payment stay on your credit report?

• Once I make the payment, it will disappear

• 1 year

• 7 years

• 10 years

Who tracks all of your credit information?

• Companies named Equifax, Experian and TransUnion

• Federal government

• Consumer Financial Protection Board (CFPB)

• Lenders and Banks

What is the best advice to prevent identity theft?

• If you check your three credit reports every year, it's almost impossible to become a victim of identity theft

• Avoid buying anything online, as that's how 90% of identity theft occurs

• Be careful with your credit and bank account numbers, create strong passwords, and beware of phishing emails

• Use a debit card instead of a credit card whenever possible

Which of the following could have a NEGATIVE impact on your credit score?

• Paying your bills on-time

• Paying down balances on your credit card accounts

• Decreasing your utilization of credit

• Applying for multiple credit cards in a short period of time