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Credit Reports and Credit Scores

Authored by Ruben Villagomez

History

9th - 12th Grade

Used 14+ times

Credit Reports and Credit Scores
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19 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Goods, services and/or money received in exchange for a promise to pay back  at a future date.

Promise
Credit
Credit Card
Worthiness

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Media Image

A numerical summary of your credit history that indicates your credit worthiness

Credit Score

Credit Report

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Media Image

A record of a person’s use of credit

Credit Score

Credit Report

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The maximum dollar amount that can be borrowed

Credit Limit

Credit Minimum

Borrowing

Borrow Limit

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

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

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

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

4 years

11 years

7 years

15 years

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is important in establishing good credit?

Making payments on time

Being late on payments

Spending 100% of your credit limit

Missing a payment

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