Credit, Warm Up and Review 4.8.2024

How long will a late payment stay on your credit report?

• 4 months

• 1 week

• 2 years

• 7 years

As a new credit card holder you can control these factors which effect your credit rating.

Choose all that apply. There are 3 correct answers, and 1 incorrect answer.

• avoiding late payments

• long credit history

• credit card utilization

• minimizing hard credit checks

If you want to ensure you have a good credit rating, you should keep your credit card utilization______

• Below 20%

• Below 30%

• Below 100%

• Below 50%

True or False

Paying the minimum payment on your credit card bill is considered paying your credit card on time.

• True

• False

Which number is considered a perfect credit score?

• 50

• 100

• 850

• 200

True or False

With a high credit score, we can get a lower interest rate on loans?

• True

• False

True or False?

Making an early credit card payment before the statement closing date will limit the impact on your credit score?

• False

• True