What is the correct range for credit scores?

Which of the following is NOT one of the major credit bureaus?

True or False a credit card company must mail a bill 21 days before it is due.

How many days notice must a credit company give before raising your APR?

True or False. You can open a credit card under the age of 21 without a cosigner.

What is a responsible person who signs a loan along with a borrower thereby agreeing to pay the obligation if the borrower fails to do so?

Which of the following is NOT a disadvantage of using credit?

True or False: Closed-Ended Credit allows the borrower to use a certain amount of money for an indefinite period of time.

What type of loan requires collateral?

Who is the party that supplies money, goods, or services in a credit agreement?

Who agrees to make future payment by a particular date or according to an agreed-upon schedule?

Which of the following is NOT an example of Open-Ended Credit?

True or False. Payday loans and pawn shop financing have low interest rates.

True or False. Fair Debt Collection Practices Act protects consumers from abusive and deceptive practices by debt collectors

Violators of the Equal Credit Opportunity Act, can be fined up to $10,000 per incident.

True or false. When choosing a credit card, it’s not important to compare factors like annual fees, percentage rates, and finance charges because all credit cards are the same.

True or False. Making all credit card payments on time and in full is a sign you're in

credit trouble.

What are the two types of personal bankruptcy?

True or False. Filing for personal bankruptcy should be considered first option for handling credit problems.

This type of bankruptcy results in the sale of a debtor’s nonexempt property and the distribution of the proceeds to creditors.

This type of bankruptcy allows a debtor to keep property and pay debts over time, usually three to five years.

True or False. If you are receiving calls from a collections agency you should change your phone number to avoid the calls.

True or False. Filing for bankruptcy will never impact a person’s ability to obtain credit or affect future employment opportunities.

True or False. AnnualCreditReport.com is the free government site to check your credit report.

True or False. Avoiding all types of credit counseling services and Ignoring collection agency calls

is the best way to manage your debt.

A borrower promises to repay money from a lender is the definition of which term

Which term is a record of an individual’s past borrowing and repayment behavior, including loans, credit card accounts, late payments, and any negative marks such as bankruptcies or judgments. It reflects overall credit behavior over time.             

Which term is a detailed document provided by credit bureaus that summarizes an individual's credit activity and current credit status. It includes information like account balances, credit limits, payment history, and inquiries from lenders.        

What is the property that a borrower agrees to give up in case of default?