Your Credit History

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

• 4 years

• 11 years

• 7 years

• 15 years

What is included in the credit history section of a credit report?

• Description of your purchases

• Late payments

Late payments can help create a high credit score.

• True

• False

Which information would NOT appear on your credit report?

• Credit Card balance

• Car loan

• Mortgage

• Debit Card balance

What is important for establishing good credit?

• Making payments on time

• Being late on payments

• Spending 100% of your credit limit

• Missing a payment

When may a person view his/her credit report for free?

• At any time and an unlimited number of times

• Once a year, from each of the three main credit reporting agencies

• A person may not review his/her credit report

• When a person has sufficient financial resources

Late payments stay on a credit report for...

• 2 years

• 7 years

• 10 years

• Never appear on a credit report

• Always on your credit report

A record of a person's use of credit is called?

• Credit Score

• Credit Report

Should I review my credit report for errors? Is this statement true or false?

• True

• False

When a person or company looks at your credit report to make a decision

• Borrower

• Lender

• Credit Report

• Credit Inquiry