Credit Test Review

EXTRA CREDIT - 1 point - What does FICO stand for?

If you make some late payments, you won't be able to get approved for any credit.

• True
• False

A creditor can call you at work to try to collect a debt.

• True
• False

A person can challenge any information that is on their credit report.

• True
• False

A person is entitled to a free copy of their credit report if they have been denied credit.

• True
• False

A creditor looks at income, FICO score, and credit reports before approving loans.

• True
• False

Only credit card accounts are listed on a credit report.

• True
• False

Debt counseling is usually offered by banks.

• True
• False

FICO scores help people get loans faster.

• True
• False

Making a large down payment is a good idea before using credit.

• True
• False