Credit Profile: Access your credit report

Checking your credit report well in advance of completing a loan, rental, or employment application can provide time to work toward resolving any issues found in the report.

• True

• False

It’s important to check your credit report from all three credit bureaus, because they may not all contain the same information.

• True

• False

Websites that provide a credit score for free are usually reliable.

• True

• False

You can request unlimited free copies of your credit report from AnnualCreditReport.com.

• True

• False

Which legislation enables US consumers to receive free copies of their credit reports?

• a) The Annual Credit Reporting Act

• b) The Equal Credit Reporting Act

• c) The Free Credit Reporting Act

• d) The Fair Credit Reporting Act

Alberto plans to apply for a car loan. When should he check his credit report?

• a) 1 week before applying for the loan

• b) 1 month before applying for the loan

• c) Around 3 to 6 months before applying for the loan

• d) He does not need to check his credit report

You can request your credit report from only one bureau at a time. Why would you do this?

• a) Doing so will allow you to request free copies from the other bureaus later in the year.

• b) Requesting reports from all three bureaus at the same time will incur an additional charge.

• c) Consumers are only allowed to request credit reports from one bureau at a time.

• d) Checking reports from multiple bureaus at the same time might give you a wrong idea about your financial status

9. All of the following except _______ are advantages of staying on top of your credit history.

• a) Lower interest rates on loans

• b) Favorable results on loan applications

• c) Increasing interest rates

• d) Prioritized rental applicant

Nadia is planning on buying a car in a few months. However, over the last 5 years she has had many credit problems. What steps should she consider.

• a) Obtain a complimentary credit report from a credit bureau.

• b) Check for any problems or trends recurring in reports over the course of time, and come up with long-term solutions for such issues

• c) Analyze the report thoroughly and identify problem areas and mistakes (if any).

• All of the above

Which of the following information can be found in your credit history and report?

 

• a) Bill payment history

• b) Loans

• c) Debts

• d) All of the above