Which of the following actions would IMPROVE your credit score?

Paying off your credit card bill

Having a good credit score is important because:

It can impact your ability to get a bank loan.

Which of the following actions has NO impact on your credit score?

Inquire about a credit card charge.

How many free credit reports are you legally entitled to each year?

One report from each credit bureau

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Everfi - Unit 3 Credit Scores

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Everfi, Financial Literacy, Credit Scores

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Questions 10

Answers

1
Which of the following actions would IMPROVE your credit score?
Opening a new savings account
Paying off your credit card bill
Using a large portion of your credit limit
Closing out old credit cards
2
Having a good credit score is important because:
It can impact your ability to get a bank loan.
It will impact how much you pay for college.
It can impact how much you will pay in taxes.
It can impacct your ability to get a driver's license.
3
Which of the following MOST influences your credit score?
Payment history
Types of credit used.
Length of credit history
Amounts owed
4
Having a low credit score can make it more difficult to:
Open a new credit card
All of the above
Secure an apartment lease
Obtain a car loan
5
All of the following make up the big three credit reporting agencies EXCEPT:
TransUnion
Experian
Federal Reserve
Equifax
6
Which of the following actions has NO impact on your credit score?
Use a large percentage of your credit limit.
Opened several new credit cards last week.
Send in credit card payment a couple days late.
Inquire about a credit card charge.
7
Which of the following actions can NEGATIVELY impact your credit score?
Disputed an item on your credit report.
Pay all your bills in cash.
Use a small amount of your available credit.
Forgot to pay the cable bill.
8
How many free credit reports are you legally entitled to each year?
One report from each credit bureau
Three credit reports each month
One credit report each year
Three credit reports from each credit bureau
9
Which action is LEAST important to maintaining a healthy credit score
Fix inaccurate information on your credit report
Know your exact credit score
Check your credit report annually
Make on-time payments
10
Which statement about credit scores is TRUE?
Reflect how likely you are to repay debts.
All the above.
Range from the low 300's to the mid 800's.
Each person has three credit scores.

Everfi - Unit 3 Credit Scores Flashcards | StudBud