Credit Score Questions and Answers

What does James want?

• A new house

• A bigger apartment

• A new car

• A pet giraffe

What is a credit score used for?

• To determine how much money you make

• To check how good you are at paying bills

• To measure your height

• To judge how much chocolate you eat

What is the best way to keep a good credit score?

• Always pay bills late

• Never use credit cards

• Pay bills on time and keep debt low

• Buy things you don’t need

What is the credit score range?

• 100-1000

• 375-900

• 0-100

• 50-500

What percentage of a person’s credit score is based on payment history and debt?

• 10%

• 20%

• 65%

• 99%

How can James improve his credit score?

• Spend more money

• Always pay at least the minimum payment

• Open a new credit card every month

• Don’t ever check his credit score

What happens if you have too many credit card accounts?

• You become rich quickly

• It can lower your credit score

• It makes you a better risk for loans

• It doesn’t affect your credit score

Where can James check his credit score for free?

• From his bank

• At the grocery store

• On the website www.annualcreditreport.com

• At a party with friends

What’s the best way to use a credit card?

• Open many credit card accounts

• Use the same card for a long time

• Close your credit card accounts quickly

• Use a card only for shopping

Why should James be careful about opening too many store credit cards?

• He will get a free gift

• It might lower his credit score

• It will improve his credit score

• It makes him famous