Credit Quiz 7th Grade

There are 5 factors that influence your credit score. Which factor has the most impact?

• Credit Utilization

• Payment History

• New Credit

• Length of Crerdit

What is one way to increase your credit score?

• Use a debit card for large purchase
• Maintain a high credit card balance
• Pay your credit card bill on time
• Open new credit accounts every two months

Credit Card companies make money by charging interest, which is also referred to as

• Annual Return Rate

• Automatic Payment Record

• Annual Percentage Rate

• Annual Pasta Run

This fee is charged when a credit card is used internationally

• Cash Advance Fee

• Foreign Transaction Fee

• Over the limit Fee

• Vacation Fee

The amount that is set by a business on a credit card for use by the customer.

• Revolving Credit
• Limit
• Credit
• Loan

Which card provides points/rewards for purchases?

• Prepaid Debit

• Gift Card

• Credit Card

• Debit Card

Credit Score range is 300 to ____________.

• 800
• 875
• 785
• 850

What is a poor credit score?

• 295
• 300
• 760
• 650

What are the three Credit Reporting Bureaus?

• Transamerica, Expedia, EasyFax

• Transatlanctic, Express, EquityTax

• Equifax, Experian, Transunion

Interest is based upon percentage and ______________.

• Amount Owed
• Min payment Amount
• Due Date
• Credit Limit