WorksheetsCredit Score
Total questions: 14
Worksheet time: 13mins
Name
Class
Date
1.
True or False: Missing a payment on your credit card has no effect on your credit.
a)
True
b)
False
2.
What are 2 of the top 5 factors that assist in calculating your credit score?
a)
Payment History and Amount of current debt
b)
Length of credit history and types of credit
c)
Payment History and Job History
d)
Payment History and Credit inquiries
3.
What is credit?
a)
Free money
b)
Borrowed money
c)
Standard of living
d)
A term that causes tears
4.
What is a credit score?
a)
A credit score is a three-digit numerical rating that reflects how likely you are to fail at paying your debts
b)
A five-digit numerical rating that reflects how likely you are to repay your debt.
c)
A three-digit numerical rating that reflects how likely you are to repay your debt.
d)
A credit score is a five-digit numerical rating that reflects how likely you are to fail at paying your debts
5.
How is credit used?
a)
Employers may check job applicants' credit.
b)
Before renting an apartment, the landlord will check the prospective tenant's credit.
c)
If you apply for a cell phone or credit card, your credit will be checked.
d)
All of these are correct, these are only some of the ways credit can be used.
6.
What actions can decrease your credit score?
a)
Pay your bills on time
b)
Only check your credit score once a year
c)
Max out your credit cards
d)
Pay off your full debt at one time
7.
Your credit score is not configured off of which of the following:
a)
Payment history
b)
Amount owed
c)
GPA
d)
Length of credit history
8.
What is considered a good credit score?
a)
760 - 850
b)
700 - 759
c)
660 - 699
d)
620 - 659
9.
what is 589 on the credit score rating ?
a)
poor
b)
average
c)
excellent
d)
good
10.
at age 18-20 , what are some of the best ways to establish credit ?
a)
waiting until you are old
b)
never buy credit cards
c)
establish a checking / savings account now
d)
always pay your bills and cards late
11.
what is the 789 on the credit score rating
a)
poor
b)
excellent
c)
very poor
d)
good
12.
How much % is amount owed on credit scores?
a)
35%
b)
15%
c)
10%
d)
30%
13.
The actual range can vary depending on the company reporting the score. Typically, what is the highest number in the ranges?
a)
600
b)
700
c)
800
d)
850
14.
What is one way to improve your credit score?
a)
Contacting your creditors and requesting a credit line increase
b)
Contacting your creditors and requesting a credit line decrease
100 %
