Darien & Adan's Credit Jeopardy

Credit Vocabulary

100

The record of on time / late payments

Payment history

200

[DOUBLE JEOPARDY]

Hard and soft ____ into the consumer's credit

Inquiries

300

What does the abbreviation 'APR' mean?

Annual Percentage Rate

400

A numerical grade that shows how likely you are to repay a loan

Credit Score

500

Legal matters like bankruptcies, tax liens, and monetary judgements are called what?

Public Records

Credit Worthiness

100

What is considered an “exceptional” credit score?

800 or more Credits

200

Lenders will find you as a risky borrower if you have this amount of credit

579 credits or less

300

[DOUBLE JEOPARDY] 

Most lenders consider this as a good credit score

670 - 739 Credits

400

Lenders will see you as dependable if you have this amount of credit

746 - 799 Credits

500

Some lenders will approve of loans if you have this amount of credit

580 to 669 credits

Improving Credit Score

100

When using a credit card, who's money are you using?

The bank

200

Cancelling a credit card will do what to your credit score

Decrease it

300

Your credit score will go down if you don't pay back your _____

Debts/Loans

400

What is the ideal credit utilization ratio?

30%

500

[DOUBLE JEOPARDY]

Having multiple kinds of credit, such as credit cards, personal loans, auto loans, mortgages and/or student loans will do what to your credit score

Increasing credit