Components
Does making late payments raise or lower your credit score?
It lowers it.
What is one way to check your credit
Credit Karma
Should you tackle the smaller balances first or the larger balances first?
Smaller
How does your credit score affect your ability to borrow money?
It can lead to higher interest rates.
Does paying early help your credit score?
No
Should you consign somebody else's credit card?
No, unless it is a trust individual
What is one of the components of a credit score?
Payment History, Length of Credit History
Do all payments on time help your credit score? Why?
No it doesn't because not all utility bills are reported to credit bureaus.
Should you consider taking a personal loan to pay off credit debt?
Yes.
What is a credit score?
A number assigned to a person that indicates the capacity to repay a loan.
Does closing credit cards help raise your score?
No.
what is the highest and lowest credit score you can achieve?
the lowest score is 300 and the highest credit score is 850.
what is the difference between a soft credit check and a hard credit check ?
Soft credit pulls don't affect your credit, but hard credit pulls are reported to the three credit bureaus and can lower your credit score
what are two ways to build credit?
Paying bills of time, pay off existing loans,
how can parents' build credit for there child?
Adding a minor as an authorized user or co-sign for them.