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

you inquire about a credit card charge

Which of the following actions can NEGATIVELY impact your credit score?

you forgot to pay the cable bill

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

one report from each credit bureau per year

Having a good credit score is important because

it can impact your ability to be approved for bank loans

Which of the following actions would improve your credit score?

paying off your credit card bill

studbud

Fin Lit Mod 4, Credit Scores

10 termsStudBud Administration320 plays

Everfi Financial Literacy

Flashcards10 cardsFPractice quizPHost liveL

Questions 10

Answers

1
Which of the following actions has NO impact on your credit score?
you use a large percentage of your credit limit
you send in your credit card payment a couple days late
you inquire about a credit card charge
2
All of the following make up the big three credit reporting agencies EXCEPT:
Experian
TransUnion
Federal Reserve
Equifax
3
having a low credit score can make it more difficult to:
get a car loan
open a new credit card
get an apartment lease
all of the other 3 answers
4
Which of the following statements about credit scores is TRUE?
Each person has three credit scores
Credit scores range from the low 300's to the mid 800's
They reflect how likely people are to repay their debts
all three answers
5
Which of the following actions can NEGATIVELY impact your credit score?
you forgot to pay the cable bill
you pay all your bills in cash
you use a small amount of your available credit
you disputed an item on your credit report
6
How many free credit reports are you legally entitled to each year?
one biannually
three credit reports from each bureau per year
as many as you want
one report from each credit bureau per year
7
Having a good credit score is important because
a good credit score is cool!
it can impact your ability to be approved for bank loans
it can impact your ability to get a driver's license
it can impact how much you will have to pay for college
8
Which of the following actions would improve your credit score?
closing out old credit cards
using a large portion of your credit limit
paying off your credit card bill
making a large payment to your savings account
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
10
Which of the following MOST influences your credit score?
payment history
length of credit history
types of credit used
a good sense of humor

Fin Lit Mod 4, Credit Scores Flashcards | StudBud