7 Questions
Which of the following is NOT a way to establish credit for the first time?
Taking out a federal student loan
How long does it take for someone with good credit habits to have a credit score in the mid to high 600s?
3 years
What is the benefit of being added as an authorized user on someone else's credit card?
The primary cardholder's payment history is added to your credit files
Which of the following is a way to build credit while in college?
Get a secured credit card
What is the responsibility of a co-signer on a loan?
The co-signer is responsible for the full amount owed if the borrower doesn't pay
What does the Fair Credit Reporting Act (FCRA) provide?
The right to be told if information in your credit report has been used against you
What is the purpose of a credit builder loan?
To help the borrower build credit history
Building Credit 101: Start from Scratch or Repair Bad Credit? Discover the best strategy to build good credit in this quiz. Learn the advantages of starting with no credit and explore effective methods to establish a solid credit history. Find out when is the ideal time to start building credit and understand the time frame required to build a strong credit score. Take the quiz now and take control of your financial future!
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