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

Pays credit card balance off monthly

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

You forgot to pay the cable bill.

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

You verify a charge on your credit card.

Which of the following would you NOT find on your credit report?

The amount you spent with a debit card last month.

Which of the following actions would improve your credit score?

paying the entire balance of credit card bill on time

Having a good credit score is important because:

it can impact your ability to be approved for bank loans

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FINANCIAL LITERACY: Credit Scores

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Questions 15

Answers

1
Which of the following is NOT a type of credit?
car loan
cell phone service
library card
credit card
2
a high credit score means....
more banks will loan you money
you are high risk to the banks
your interest rates will be high
your amount of cash is high
3
Which of the following actions can POSITIVELY impact your credit score?
Recently tried to open a new credit card
Pays credit card balance off monthly
Recently lost job and looking for work
Took out a loan to start a business
4
Which of the following statements about credit scores is TRUE?
Credit scores range from the low 300’s to the mid 800’s
Credit scores reflect how likely one is to pay off debts.
All of these.
Each person has three credit scores.
5
Having a low credit score can make it more difficult to:
all of these
obtain a car loan
secure an apartment lease
open a new credit card
6
Which of the following actions can NEGATIVELY impact your credit score?
You use a small amount of your available credit.
You forgot to pay the cable bill.
You pay all your bills in cash.
You disputed an item on your credit report.
7
Who is more likely to have a credit score of 820?
Franco
Terrell
8
Which of the following actions has NO impact on your credit score?
You verify a charge on your credit card.
You opened several new credit cards last week.
You use a large percentage of your credit limit.
You send in your credit card payment a couple days late.
9
Who will have the lower credit score?
M. Gibson
T. Wilson
10
Which of the following would you NOT find on your credit report?
Your current address.
The amount of your car loan.
The amount you spent with a debit card last month.
Your student loan payment history.
11
Which of the following is likely to have a higher credit score?
Jacob
June
12
Which of the following actions would improve your credit score?
opening a new savings account
paying the entire balance of credit card bill on time
closing out old credit cards
using a large portion of your credit limit
13
Who has access to your credit score?
Credit Bureaus
Any money lenders
All of the above
Banks
14
Having a good credit score is important because:
it can impact how much you will have to pay for college
it can impact your ability to get a driver’s license
it can impact your ability to be approved for bank loans
it can impact how much you will have to pay in taxes
15
Which item is not part of a credit report?
the balance of their credit cards
your medical history
any missed payments on a loan
the number of credit cards currently open

FINANCIAL LITERACY: Credit Scores Flashcards | StudBud