(Pre) Credit Crash Course

The ability of a customer to obtain goods or services before payment, based on the trust that payment will be made in the future is

• Credit

• Leverage

• Buying Power

• Terms of Interest

Credit is a system that is used and understood by all of these EXCEPT

• Banks

• Colleges and Universities

• Mortgage Companies

• Car Dealerships

This document shows the loans you took out, how well you paid them back, and a credit score based on that average

• FICO Certificate

• FICO Score

• Credit Title

• Credit Report

An excellent credit score is anything above...

• 630

• 705

• 720

• 580

________ influences your credit score the most

• How much you owe

• Credit Age

• Payment History

• Credit Mix

Who determines your credit score?

• The credit bureaus

• The government

• The FICO association

• The lender

All of these are credit bureaus EXCEPT

• Equifax

• Equinox

• Experian

• Tansunion

Credit bureaus are government agencies

• True

• False

Credit bureaus make money by selling YOUR information

• True

• False