Font size
Worksheets6.1-6.2 Credit History and Credit Report
Total questions: 16
Worksheet time: 32mins
What is the connection between a credit report and a credit score?
They are basically the same thing
The information from your credit report is what determines your credit score.
Your credit score determines what information is on your credit report.
If you have a lot of accounts on your credit report you automatically have a high credit score.
How long do financial records remain on your credit report?
7 years
10 years
7 to 10 years
Forever
Which of the following information would you NOT expect to find on a credit report?
History and track record of paying bills
Opened/Closed accounts
Late payments
Credit inquiries
Your investments
Select two reasons explaining why it’s important to request your 3 credit reports and review them regularly.
To see if you should apply for a new credit card
To see if there is someone else using credit under your name (identity theft)
To check your credit score
To see if there are any errors
Which of the following people/companies DO NOT have reason to access your credit report?
Credit Card companies
Employers
Your ex boyfriend/girlfriend
Landlords
Government agencies and courts
Which of the follow would NOT show up on your credit report?
Late payment on your credit card of 30 days
A closed personal loan
A credit inquiry from an auto dealer
Late rent payment of 10 days
Unpaid medical bills that have gone to collections
What are the big 3 credit bureaus?
Innovis
Experion
Equifax
Transunion
Fico
How often can you get a free copy of your credit report?
1 time per year
every 6 months
Whenever you want
You always have to pay
Which of the following is TRUE about a credit report?
It is a complete history of one type of credit you have
Credit reports are maintained by the 5 main credit bureaus
You can get a copy of your credit report for free
You can get a credit report only when you're 21 years old
Which of the following is TRUE about finding errors on your credit report?
You may have to file a dispute with each credit bureau
You should wait until the end of the month before reporting
Finding errors is common & is not a big deal
Overlooked errors may result in you paying a fine
Where can you get a free copy of your credit report?
annualcreditreport.com
freecreditreport.com
getmycreditreport.com
creditreport.gov
What information can you find on a credit report?
Your medical insurance information
Your parents' and siblings' contact information
Your education level
Inquiries you've made on new lines of credit
All of the following may access your credit report EXCEPT...
A landlord
A future employer
Colleges and universities
Insurance companies Insurance companies
If you review your credit report and find an error, and you’re able to prove it is, indeed, an error, how long does the credit bureau have to remove the error?
30 days
1 year
6 months
60 days
The most important section of your credit report is your trade lines -- the details about each of your credit accounts. Which of the following is NOT a piece of information found in this section?
Name of the creditor/lender
Your home address
Account or other identifier for the type of credit being provided
The parties responsible for paying the loan
The payment status of the account.
What is the first step in Disputing a credit report error with a credit bureau?
Decide
Investigate
Dispute
Identify
Notify
