Ch4 L3

These inquiries represent LARGE credit lines, and it is required that you sign off on them in order for them to happen.

• Hard Inquiry

• Soft Inquiry

• Personal Inquiry

• Data Inquiry

Identify ALL of the things below that can be found on your credit report.

• Bankruptcies

• Soft Inquiries

• Payment History

• Credit History

Your credit score is ​ (a)   debt payment history, and ​ (b)   Length of Debt History

• 35%
• 15%
• 25%
• 80%
• 20%
• 90%

A credit score is created using your...

• Debt

• Income

• Employment History

• Tax Bracket

Match the percentages to their correct category when looking at your FICO score.

• 10%

• Debt Level

• 35%

• Length of Debt History

• 30%

• Debt History

• 15%

• Debt Type and New Debt

A "good" credit score would range from ​ (a)   to ​ (b)   .

• 670
• 739
• 800
• 450
• 500

True or False: A new home loan will negatively impact your score at first.

• True

• False

In order to ​increase your credit score, you first have to ​ (a)   your levels of debt.

• increase
• decrease

Identify ALL of the items below that would be considered "red flags" on your credit report.

• Hard Inquiries

• Soft Inquiries

• Bankruptcies

• Accounts Sent to Collections