WorksheetsCredit Scores
Total questions: 15
Worksheet time: 9mins
Which of the following factors are taken into account when calculating a credit score? You can select multiple options.
New Credit
Types of Accounts
Length of History
Payment History
Which of the following intervals exemplifies excellent credit scores?
300-549
550-649
700-749
750-850
Which of the following are good credit habits? You can select multiple options.
Missing payments
Avoid exceeding your credit limits
Not spending more than you can afford
Making payments above the minimum
Paying less than the minimum payment on your credit card bill doesn’t count as a missed payment.
True
False
What type of credit score is this 570?
Average
Great
Poor
Excellent
Connor is trying to improve his credit score, so he discussed this with his friend Becky. Which factors did she tell Connor to focus on?
Payment history, credit utilization, length of credit history
His income, education level, age
Number of credit cards he has, types of credit used, recent inquiries
His social media activity, shopping habits, favorite color
Best Buy Credit Card is what type of credit?
Open
Installments
Revolving
Netflix is what type of credit?
Open Credit
Installments
Revolving
Mortgage is what type of credit?
Open Credit
Installments
Revolving
What is the main difference between credit cards and debit cards?
Credit cards allow borrowing money, while debit cards use existing funds.
Credit cards are linked to a bank account, while debit cards are not.
Credit cards require a PIN for transactions, while debit cards do not.
Credit cards have no spending limit, while debit cards do.
What type of credit is typically used for large, one-time purchases like a car or home?
Service Credit
Installments
Revolving
Why do lenders use credit scores?
To decide how much money someone has saved
To determine loan approval and interest rates
To track spending habits
To calculate taxes
Why is building good credit important for your future?
It only matters for rich people
It replaces the need for savings
It affects interest rates, approvals, and financial opportunities
It only matters when buying a house
