Credit Score
What is your Credit Score?
A) The Number Of Credit Cards You Own
B) Your Credit Data
C) A Random Number
D) First Three Numbers Of Your Salary
B) Your Credit Data
Credit Accounts where you can borrow up to a limit and pay off a balance overtime is called...
A) Open Credit
B) Secured Credit
C) Installment Credit
D) Revolving Credit
D) Revolving Credit
What Is A Credit Report?
A) A Record Of Someone's Credit History
B) The Percentage Of Available Credit Being Used On Revolving Accounts
C) Random Information About Your Money
D) Information About Your Debts
A) A Record Of Someone's Credit History
When Should You Start To Build Credit?
A) As Soon As Possible
B) When You Turn 18
C) When You Turn 21
D) Whenever You Want
A) As Soon As Possible
True Or False: Product And Services Include Car Loans, Mortgages, Personal Loans, And Lines Of Credit?
A) False
B) True
B) True
All Build Your Credit Except...
A) Opening More Credit Cards
B) Paying Bills On Time
C) Closing A Credit Card
D) Reviewing your credit report
C) Closing A Credit Card
Loans that are repaid in fixed payments over time are...
A) Installment Credit
B) Unsecured Credit
C) Open Credit
D) Fixed Credit
A) Installment Credit
All Are Included In Your Credit Report Except...
A) Personal Information
B) Credit Inquiries
C) Marital Status
D) Public Records
C) Marital Status
All of these build your credit except...
A) Paying Your Loans On Time
B) Having A Long Credit History
C) Managing/Opening Multiple Credit Cards
D) Paying Your Utility Bills
D) Paying your Utility Bills
What Is A Checking Account Mostly Used For?
A) Used For Saving
B) Paying Bills/Tracking Spending
C) Monthly Limit You Can Spend
D) Can Make A College Fund
B) Paying Bills/Tracking Spending
These Components affect your Credit Score Except...
A) New Credit
B) Payment History
C) Amounts Owed
D) Your Salary
D) Your Salary
Credit that doesn't require collateral is called...
A) Open Credit
B) Unsecured Credit
C) Secured Credit
D) Fixed Credit
B) Unsecured Credit
All Of These Are Major Credit Bureaus Except...
A) Experian
B) TransUnion
C) Equifax
D) CredUnion
D) CredUnion
These all Help Maintain Your Utilization Ratio Except...
A) Reducing Your Revolving Credit Balances
B) Increasing Your Credit Limit
C) Maintaining Good Credit
D) Using One Card More Then Others
D) Using One Card More Then Others
What Are Wire Transfers Mostly Used For?
A) Whenever You Want
B) Used Like Venmo and Apple Pay
C) International Transfers
D) Used For Cross Country Payments
C) International Transfers
You Can View Your Credit Score At All Of These Except...
B) FICO Score
C) Vantage Score
D) UnitedCredit.com
Credit That Is Backed By Collateral is called...
A) Personal Credit
B) Installment Credit
C) Secured Credit
D) Card Credit
C) Secured Credit
A) Once A Year
B) Twice A Year
C) Three Times A Year
D) Four Times A Year
D) Four Times A Year
What Does DTI Stand For?
A) Debt-To-Income Ratio
B) Dress To Impress
C) Down-Payment Insurance Ratio
D) Deduction For Taxable Income
A) Debt-To-Income
What Are Mortgages?
A) A Short-Term Loan That Must Be Paid Back Within A Few Months
B) A Loan Give To Renters Moving Into A New Apartment
C) Loan To Purchase A Home
D) A Loan That Doesn't Require Collateral, Only Affects Your Credit Score
C) Loan To Purchase A Home
What Is An Ideal Credit Score?
A) 705
B) 600
C) 650
D) 900
A) 705
Accounts that must be paid in full each month, with no interest charges if the balance is paid off is...
A) Balance Credit
B) Open Credit
C) Monthly Credit
D) Installment Credit
B) Open Credit
These Are All Associated With Having A Thin File Except...
A) Harder Time Getting Lower Interest Rates
B) Harder Time Getting Higher Credit Limits
C) Harder Time Getting Approved For Loans And Credit Cards
D) Need To Have Multiple Credit Cards To Build Credit Faster
D) Need To Have Multiple Credit Cards To Build Credit Faster
Should You Always Take A Credit Limit Increase?
A) Not Always, Can You Handle It
B) Always, It Is Always Good
C) Never, It Is Always Bad
D) If You Want More Money
A) Not Always, Can You Handle It
If A Secured Credit Card Is Backed By A Cash Deposit, Does It Still Help Build Credit?
A) Yes, It Only Builds Credit
B) Yes, It Can Hurt And Build Credit
C) No, It Never Can
D) Maybe