Lite work
Which of the following factors has the biggest impact on your credit score?
a) Payment history
b) Amount of debt
c) Length of credit history
d) New credit
a) Payment history
True or false. All credit models weigh different credit factors the exact same way
NOT TRUEEE
What is a credit bureau?
a) A government agency that regulates lending practices.
b) A non-profit organization that offers credit counseling services.
c) A type of credit card with very high interest rates.
d)A company that collects and reports information about consumers' credit history.
What is the typical credit score range, from lowest to highest?
a) 0-500
b) 300-850
c) 500-999
d) 600-900
b) 300-850.
How often are u required to get a free copy of ur credit report from major credit bureaus?
a) Once per year
b) Twice per year
c) Once every six months
d) Once every two years
ANSWER ISSS A OFC.
Which one of these could potentially lower ur credit score?
a) Requesting a credit limit increase on an existing credit card.
b) Having a long history of responsible credit use.
c) Having a high credit utilization ratio.
d) Paying off a loan in full.
DA Answer ISSS C
True or False: Checking your own credit report will lower your credit score.
FALSE. Why would it lower ur credit score just by checkin it.
Which one of these debts normally impact the most if u fall behind on the payment.
a)Utility bills
b) Medical bills
c) Credit card debt
d) Library fines
Ture/False= If you have a high income u shouldnt need to worry about credit score?
False. just becuase you have a high amount income doenst mean u dont have to worry about it.
What one of these would help raise a low credit score?a) Opening several new credit cards to increase available credit.
b) Closing old, unused credit card accounts.
c) Making on-time payments on all your debts.
d) Ignoring small debts that are past due.
YO answer is C.
What is considered a hard inquiry on your credit report?
a) When you check your own credit report.
b) When you pay off a credit account.
c) When a company checks your credit for employment purposes.
d) When a lender reviews your credit report as part of an application for credit (like a loan or credit card).
THE ANSWER IS D
A) Not ur problem.
B) Payment history.
C) late to pay.
D) None of the above
Payment history
What one of these are not normally found in a credit report?
a) Your payment history on credit accounts
b) Your current income and employment details
c) Public records like bankruptcies and tax liens
d) Inquiries from lenders when you apply for credit
THE ANSWER ISSS B
Is it better for the utilization of ur credit score ratio to be high or low?
Typically lower.
What is the highest possible FICO credit score?
A) 300
B)500
C)450
D)850