SDP Understanding Credit Scores Quiz

What is a credit score primarily used for in the United Kingdom?

• Determining eligibility for university

• Assessing an individual's creditworthiness for loans and credit cards

• Calculating council tax

• Setting mobile phone tariffs

Which of the following is NOT a major credit reference agency in Great Britain?

• Experian

• Equifax

• TransUnion

• FICO

What is the typical range of credit scores in the UK, as used by most agencies?

• 0–100

• 0–700

• 0–999

• 0–2000

Which of the following actions is most likely to improve your credit score?

• Missing monthly payments

• Registering on the electoral roll

• Maxing out your credit cards

• Frequently applying for new credit

If you check your own credit report, what effect does it have on your credit score?

• It lowers your score

• It raises your score

• It has no effect

• It freezes your score

Which of the following is considered a 'soft search' on your credit report?

• A mortgage application by a bank

• You checking your own credit score

• A credit card company performing a full credit check

• A landlord running a tenant check

What is the main consequence of having a low credit score in the UK?

• Higher council tax

• Difficulty obtaining loans or credit cards

• Increased mobile data speeds

• Lower energy bills

Which of the following will NOT appear on your credit report?

• Your current address

• Your criminal record

• Your history of missed payments

• Your electoral roll status

How long do most negative marks, such as missed payments, stay on your credit report in the UK?

• 1 year

• 3 years

• 6 years

• 10 years

Which of the following is most likely to damage your credit score?

• Paying bills on time

• Having a long-standing credit account

• Defaulting on a loan

• Being on the electoral roll