Credit Report and Loan Approval Quiz

Determine whether the items found on a credit report were helpful or hurtful to a credit score in deciding whether a borrower should be approved for or denied a loan. Circle positive or negative for the scenario: Fully paying off a car loan.

• Positive

• Negative

Determine whether the items found on a credit report were helpful or hurtful to a credit score in deciding whether a borrower should be approved for or denied a loan. Circle positive or negative for the scenario: Making a payment on your credit card after the due date.

• Positive

• Negative

Determine whether the items found on a credit report were helpful or hurtful to a credit score in deciding whether a borrower should be approved for or denied a loan. Circle positive or negative for the scenario: A past due cell phone bill.

• Positive

• Negative

Determine whether the items found on a credit report were helpful or hurtful to a credit score in deciding whether a borrower should be approved for or denied a loan. Circle positive or negative for the scenario: Having several medical bills that were sent to collections due to nonpayment.

• Positive

• Negative

Determine whether the items found on a credit report were helpful or hurtful to a credit score in deciding whether a borrower should be approved for or denied a loan. Circle positive or negative for the scenario: Having a small balance remaining on a 30-year loan for a mortgage.

• Positive

• Negative

Determine whether the items found on a credit report were helpful or hurtful to a credit score in deciding whether a borrower should be approved for or denied a loan. Circle positive or negative for the scenario: Making a large payment on your credit card.

• Positive

• Negative

Determine whether the items found on a credit report were helpful or hurtful to a credit score in deciding whether a borrower should be approved for or denied a loan. Circle positive or negative for the scenario: Making a payment on your loan by the monthly due date.

• Positive

• Negative

Determine whether the items found on a credit report were helpful or hurtful to a credit score in deciding whether a borrower should be approved for or denied a loan. Circle positive or negative for the scenario: Applying for 6 credits cards within 2 weeks.

• Positive

• Negative

Determine whether the items found on a credit report were helpful or hurtful to a credit score in deciding whether a borrower should be approved for or denied a loan. Circle positive or negative for the scenario: Paying your monthly rent or mortgage by the due date.

• Positive

• Negative

Determine whether the items found on a credit report were helpful or hurtful to a credit score in deciding whether a borrower should be approved for or denied a loan. Circle positive or negative for the scenario: Your car being repossessed due to several missed payments.

• Positive

• Negative