Basics
This gives you the option of buying something now and paying it back over an extended period of time.
What is credit?
These companies will check your credit score before offering you water or power.
What are utility companies?
This is a three-digit number is a shorthand way to express raw data in your credit report.
What is a credit score?
This explains in detail all of your credit activity.
What is a credit report?
This makes up 35% of your credit score.
What is payment history?
Utilizing credit responsibly will help you build a ____.
What is a credit score?
Lenders look at your credit score to determine your likelihood to _____ a loan.
What is payback?
Your credit score can be anywhere between 300 and ____.
What is 850?
Name the three major credit bureaus.
Experian, Equifax, and TransUnion
This refers to the amount of your available credit you have currently used.
What are amounts owed?
This is used by lenders to determine if they should lend you money.
What is a credit score?
If you've purchased things only using cash, there's a good chance you _____.
Don't have a credit score at all.
Lenders are more likely to approve loans for people with a score above ____.
This type of credit inquiry may impact your credit scores and stay on your credit reports for two years.
What is a hard inquiry?
This measures the average age of your credit accounts.
What is credit history?
Borrowing more money than you can afford to pay back does this to your credit score.
Damages it.
In order to build credit, you must first do what?
Use credit.
A person's level of risk to repay loans is also known as _____.
This type of credit inquiry is just a glimpse into your credit report and does not impact your credit score.
What is a soft inquiry?
This refers to any new credit accounts and hard inquiries of your credit score.
What is new credit?
Damaging your credit score can prevent you from getting one of these in the future.
What is a loan?
One way to start building credit is to open a _____.
What is a secured card?
Borrowers with scores below this number are more likely to be higher risk.
What is 600?
When determining your creditworthiness, lenders will pull your credit report from three ____.
What are credit bureaus?
This refers to the diversity of your credit accounts and makes up only 10% of your credit score.
What is credit mix?