Credit Scores

The more credit cards you have, the better.

• True

• False

A low credit score indicates that the person is financially responsible.

• True

• False

A high credit score heightens the persons chances of getting a loan.

• True

• False

Which of the following intervals exemplifies excellent credit scores?

• 300-549

• 550-649

• 700-749

• 750-850

Read the following situation:

Gloria has a credit card with a limit of $5000. Every month she uses up at least 90% of her credit and pays interest rates because she cannot cover the full amount monthly. Are Gloria's credit habits going to help her get a high score?

• Yes

• No

Which of the following are good credit habits? You can select multiple options.

• Missing payments

• Avoid exceeding your credit limits

• Not spending more than you can afford

• Making payments above the minimum

Your credit score determines how successful you will be in obtaining a loan

• True

• False

What is the most important factor of a credit score?

• Types of credit

• Payment History

• Amount of debt

• Inquires

Which of the following may request your credit report?

• Insurance companies

• Banks

• Your landlord

• Al of the above

Which of the following probably has the highest credit score? Assume that all of them have made regular monthly payments on time.

• An 18 year old college freshman

• A 20 year old waitress with two active credit cards

• A 40 year old business owner with two cars, a house, and four active credit cards

• A 50 year old with five credit cards who rents his house.