CREDIT Scores!

What is the range of a credit score?

• 0-1000

• 300-850

• 700-1000

• 150-800

What maximum % of your total credit limit should you be using at any given time?

• 15%

• 20%

• 25%

• 30%

What action contributes to the highest portion of the factors that build your credit score?

• Payment history

• New credit

• Age of accounts

• Your personal information

Which of the following is NOT one of the 3 credit reporting agencies?

• Transunion

• Equifax

• Experian

• Credit Karma

What is a credit report?

• A 3-digit number that represents your credit worthiness

• A detailed account of your debt accounts and payment history

• A stack of reference letters

• An application for a credit card, mortgage or personal loan

What is a credit score?

• A 3-digit number that represents your credit worthiness

• A detailed account of your debt accounts and payment history

• A stack of reference letters

• An application for a credit card, mortgage or personal loan

Why do you need credit?

• To get approved to rent an apartment

• To get approved for a home loan

• To get approved for a car loan

• To get a good interest rate on a car loan

What is the minimum credit score needed to get a mortgage on a home?

• You do not need a credit score to buy a home

• 350-500

• 720+

• 575+

What can you do if you don't have a credit score but you need to rent an apartment?

• Lie and use someone else's social security number

• See if your landlord will let you submit letters of reference instead

• Don't rent ever, just stay at home forever and don't worry about credit it's too hard

• Stay home for 6 more months and during that time use $250-500 at a bank to open a CD-secured credit card and build credit and re-apply for a rental

Can you check your own credit score and should you???

• Yes you can, but you shouldn't

• Yes you can, and you should at least 1x per year

• Yes you can, but you should only check it once every 10 years

• Yes you can, and you should check it every week!