Credit Report & Paying for college

What is important in establishing good credit?

• Making payments on time

• Being late on payments

• Spending 100% of your credit limit

• Missing a payment

How long will a negative credit action usually remain on a credit report?

• 4 years

• 11 years

• 7 years

• 15 years

Why is it important to establish positive credit history?

• Higher credit scores result in lower interest rates on loans

• You are more likely to be offered a loan by a bank

• Positive credit history results in higher credit scores

• All of the above

What is included under credit history on a credit report?

• Date of birth

• Late payments

Late payments can help create a high credit score

• True

• False

Who would be more likely to get a car loan?

• Dave with a credit score 560

• Julie with a credit score 780

Tags

CCSS.8.NS.A.2

A person who takes and uses a sum of money under an

agreement to pay it back?

• Borrower

• Lender

Tags

CCSS.RF.3.3B

CCSS.RF.3.3C

CCSS.RF.3.3D

CCSS.RF.4.3A

CCSS.RF.5.3A

To build a positive credit history, I should pay cash for all purchases.

• True
• False

Tags

CCSS.RI.5.3

CCSS.RI.5.5

CCSS.RI.6.3

CCSS.RI.6.5

CCSS.RI.7.3

The more credit cards I have, the higher my credit score will be.

• True
• False

Numerous credit applications in a short period of time.

• Positive Impact
• Negative Impact