What is Credit Score Video Quiz

What is the estimated number of Americans without a credit score as of 2017?

• Around 30 million

• Over 50 million

• Approximately 45 million

• Nearly 60 million

Which institutions do not report payment information to credit reporting agencies?

• Cell phone carriers and landlords

• Student loan servicers

• Mortgage lenders

• Credit card companies

What factors influence a credit score?

• Number of dependents

• Age and education level

• Payment history and account balances

• Marital status

What was a significant shift in creditworthiness assessment after the Civil War?

• From personal trust to algorithmic scoring

• Introduction of social media checks

• Mandatory credit education

• Elimination of credit reports

What were some reasons people were denied credit in the past?

• Promiscuity and possible homosexuality

• Lack of online presence

• Not owning a telephone

• Refusing to use banks

How can employment history indirectly reflect racial bias in credit reports?

• Number of job changes

• Higher likelihood of layoffs during recessions for black workers

• Preference for certain universities

• Work experience in specific industries

What legislative action has been taken to address credit score disparities?

• Abolishing credit scores entirely

• Mandatory credit score education in schools

• Outlawing the use of credit scores for non-lending decisions

• Universal basic credit score for all citizens

What is one community-based initiative to help build credit?

• Community potluck discussions

• Local credit score lotteries

• Formalizing informal lending circles

• Neighborhood credit score competitions

What technological innovation is being explored to improve credit access?

• Loans based on rent payment histories

• Blockchain-based credit systems

• AI-driven credit counseling

• Credit scores based on social media activity

Why is access to credit considered essential in American life?

• Needed for voting in elections

• Mandatory for all citizens over 18

• Required for purchasing online goods

• Necessary for major life activities like renting a home or car