Unit 3: Credit Test Review

Experian, Equifax, and Transunion are examples of

• credit card companies

• banks

• credit reporting agencies

• lenders

The highest FICO score possible is:

• 1600

• 1000

• 850

• 700

What is the most important factor of a credit score?

• Types of credit

• Payment History

• Amount of debt

• Inquires

Hard Inquires lower your credit score

• True

• False

Which one of these is NOT one of the 3 main Credit Bureaus?

• Equifax

• Experian

• FICO

• TransUnion

Other than FICO, which other company creates credit scores?

• McDonalds

• FICO

• Credit Karma

• VantageScore

A high credit score means you will have the highest interest rates when applying for a loan

• True

• False

Payment history accounts for around _______ of your credit score.

• 1/2

• 3/4

• 35%

• 90%

Your credit score is not configured off of which of the following:

• Payment history
• Amount owed
• GPA
• Length of credit history

Which of the following items can be found on a credit card statement?

• Payments made and new charges

• Fees and interest charged

• Year to date totals and how long it will take you to pay it off w/minimum only

• All of these