Show:
Credit Worthiness
Credit History
Credit Score
100
How do you apply for a credit card?
Apply online or go to a bank and fill out an application.
100
A record of an individual's or company's past borrowing and repaying.
Credit history.
100
What is the range of acceptable credit scores?
630-850.
200
What is credit worthiness?
An assessment of the likelihood of a borrower being able to repay debt.
200
What is a term that is synonymous with credit history?
Credit reputation.
200
The website that enables a consumer to obtain a free credit report annually?
Annualcreditreport.com
300
What is credit worthiness based on?
Credit history and credit score.
300
What is your credit report?
Summary of your credit history.
300
The name of the numerical credit rating that lenders use?
Credit score.
400
What does good creditworthiness give a person the ability do?
Borrow more money.
400
Who writes and keeps your credit report?
Credit recording companies like TransUnion, Equifax, and Experian.
400
Credit scores are not only limited to banks. Other organizations that use credit scores are?
Cell phone companies, insurance companies, landlords, government departments.
500
How long does it take to repair your creditworthiness?
Takes many years to repair.
500
What is on your credit report? (7 things)
Name, Address, Social Security number, credit cards, loans, how much money you owe, if you pay your bills on time or late
500
What are some factors that determine a good credit score?
Payment history, outstanding debt, amount of time building credit, number of inquires of credit report.