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WorksheetsCREDIT Scores!
Total questions: 10
Worksheet time: 6mins
What is the range of a credit score?
0-1000
300-850
700-1000
150-800
What maximum % of your total credit limit should you be using at any given time?
15%
20%
25%
30%
What action contributes to the highest portion of the factors that build your credit score?
Payment history
New credit
Age of accounts
Your personal information
Which of the following is NOT one of the 3 credit reporting agencies?
Transunion
Equifax
Experian
Credit Karma
What is a credit report?
A 3-digit number that represents your credit worthiness
A detailed account of your debt accounts and payment history
A stack of reference letters
An application for a credit card, mortgage or personal loan
What is a credit score?
A 3-digit number that represents your credit worthiness
A detailed account of your debt accounts and payment history
A stack of reference letters
An application for a credit card, mortgage or personal loan
Why do you need credit?
To get approved to rent an apartment
To get approved for a home loan
To get approved for a car loan
To get a good interest rate on a car loan
What is the minimum credit score needed to get a mortgage on a home?
You do not need a credit score to buy a home
350-500
720+
575+
What can you do if you don't have a credit score but you need to rent an apartment?
Lie and use someone else's social security number
See if your landlord will let you submit letters of reference instead
Don't rent ever, just stay at home forever and don't worry about credit it's too hard
Stay home for 6 more months and during that time use $250-500 at a bank to open a CD-secured credit card and build credit and re-apply for a rental
Can you check your own credit score and should you???
Yes you can, but you shouldn't
Yes you can, and you should at least 1x per year
Yes you can, but you should only check it once every 10 years
Yes you can, and you should check it every week!
