Vocabulary
True or False
What Makes Up A Credit Score
Credit Score
Miscellaneous
100
Adding or putting money into an account.
Deposit
100
You should always spend more money than you have.
FALSE!
100

What factor makes up 10% of your credit score?

Credit Inquires or Credit Mix

100

At CoastLife Credit Union, if you have an A+ credit score, you are in the ______ Club

720

100

What is the highest possible credit score? 

850

200
Taking money out of an account.
Withdrawal
200
Interest is always a good thing.
FALSE
200

What factor makes up 10% of your credit score?

Credit Inquires or Credit Mix

200

When a minor becomes an adult, their credit score will be ____

No Score

200

Generally, which has a lower interest rate: a car or a credit card?  

A car loan 

300
A plan for how to save and spend money.
Budget
300
Fixed expenses include things like rent.
TRUE
300

What factor makes up 15% of your credit score and is the third most impactful?

Credit Length History

300

Your credit score will impact things like what? 

Buying a car or a house, getting approved for a loan, job opportunities, getting approved for an apt. 

300

What does APR stand for? 

Annual Percentage Rate 

400

Extra money that you either earn on an account or owe.

Interest

400
The two parts of a budget are income and outcomes.
FALSE
400

What factor makes up 30% of your credit score and is the second most impactful?

Credit Utilization Capacity

400

Name one of the nationwide credit reporting agencies.

Experian, Equifax, and TransUnion

400

What is the best way to improve your credit score?

Pay bills on time. 

500

An I.O.U. that you pay later.

Credit or Loan

500
Variable Expenses change from month to month
TRUE
500

What factor makes up 35% of your credit score and is the most impactful?

Payment History

500

Name one of the nationwide credit reporting agencies, not previously named.

Experian, Equifax, and TransUnion

500

What is the lowest possible credit score? 

300

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