Which of the following actions would IMPROVE your credit score?

Paying off your credit card bill

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

One report from each credit bureau

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

Inquire about a credit card charge.

Having a good credit score is important because:

It can impact your ability to get a bank loan.

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

Everfi - Module 4 Credit Scores Flashcards | StudBud