QUIZ: CREDIT (LOANS, CREDIT REPORTS & SCORES)

Which of the following companies are NOT credit bureaus? (Select all that apply)

• Credit Karma
• Credit Wise
• Equifax
• Experian
• TransUnion

What do credit bureaus do?

• Analyze your entire credit history and generate a single number or score.
• Track the credit history shown on your credit report, and provide an automated alert of any changes to your credit file.
• Gather, store and sell credit information to business subscribers.
• Make personal and business loans.

Which of the following does a credit score mainly indicate?

• Your attitude toward credit.
• Your risk in not repaying your debt.
• Your knowledge of consumer credit.
• Your buying habits.

Which of the following exemplifies an exceptional credit score?

• 470
• 625
• 750
• 800

The most commonly used Credit Score is ______________.

• FICO
• Experian
• Equifax
• TransUnion

A ________________________ is a complete written version of your credit history.

• credit record
• credit paper
• credit report
• credit score

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 bureaus.
• A person may not review his/her credit report.
• Once a year, but only from 1 credit reporting bureau.

A low credit score may impact which of the following?

• Ability to rent an apartment.
• The interest rate a lender will offer you.
• Getting approved for a mortgage (home loan).
• All of the above

Which factor carries the most weight when calculating a credit score?

• Payment History
• New Credit
• Amounts Owed
• Credit Mix
• Length of Credit History

You have multiple kinds of credit, such as credit cards, personal loans, auto loans, mortgages and/or student loans. Will this help or hurt your credit score?

• Helps
• Hurts