Understanding Credit Scores

Which of the following is NOT one of the three main credit bureaus?

• Equifax

• VantageScore

• Experian

• TransUnion

What is the most heavily weighted factor in calculating a FICO credit score?

• New credit

• Credit mix

• Length of credit history

• Payment history

What is the recommended maximum debt-to-income ratio to maintain a healthy credit score?

• 43%

• 50%

• 60%

• 30%

Which factor is least important in the FICO credit score calculation?

• Length of credit history

• Credit mix

• Amounts owed

• Payment history

What is a recommended action to quickly improve your credit score?

• Max out your credit cards

• Open multiple new credit accounts

• Make all payments on time

• Close old credit accounts