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WorksheetsBuilding Healthy Credit
Total questions: 9
Worksheet time: 12mins
Which person probably has the lowest credit score?
A woman who has missed three credit card payments in a row.
A man who has had three car repossessions
A woman who has a $125,000 house loan
True or false: "Bad credit is better than no credit"
True
False
What does it take to keep a good credit score with credit cards?
Making your monthly payments on time.
Making most of your payments most of the time.
Having lots of cards so that no single card is above the limit.
Paying off balance each month.
Keeping Balances below limits
How could opening several new credit accounts all at the same time affect your credit score?
It helps: it says I can handle lots of new credit
It hurts: it says I had too little credit to begin with
It helps: it says I had too little credit to begin with, but now I have the correct amount
It hurts: it says I may be in trouble and need lots of help to stay afloat
What is the single best thing you can do to help build a good credit score and to keep it once you have it?
Pay my bills on time
Keep balances on all accounts low
Take out only the credit I need when I need it
Pay cash
Which helps to establish a negative credit history?
Make payments on or before the due date.
Never miss a payment.
Pay off the full amount with the first monthly statement.
Pay less than the minimum amount due.
Dahlia is explaining to her sister why a positive credit history is important. Which of the following should Dahlia give as reasons for a positive credit history? Check all that apply.
A good credit history portrays irresponsibility.
A good credit history results in lower interest rates.
A good credit history makes borrowing easier.
A good credit history results in higher interest rates.
A good credit history may result in denial of a rental application.
This year, Mr. Thomas has a higher credit score than he did last year. Which of the following should Mr. Thomas expect with the improved score? Check all that apply.
a more difficult time borrowing money to buy a house
an easier time getting a car loan
an easier time renting an apartment
a denial when opening a bank account
higher interest rates on credit cards
Which is considered a good credit practice?
Use the credit card with the highest interest rate.
Make late payments.
Pay more than the minimum amount that is due.
Borrow more than one can afford to repay.
