Podcast
Play an AI-generated podcast conversation about this lesson
Questions and Answers
What is a potential advantage of using credit monitoring services?
What is a potential advantage of using credit monitoring services?
- To maintain a clear picture of your credit health (correct)
- To avoid paying interest on your debts
- To dispute inaccuracies on your credit report
- To obtain a detailed report on your FICO score
Why is it essential to have a personalized credit building plan?
Why is it essential to have a personalized credit building plan?
- Because credit scores are not affected by financial situation
- Because credit building plans are only for those with bad credit
- Because everyone's financial situation is the same
- Because everyone's financial situation is unique (correct)
What is the primary factor affecting your credit score?
What is the primary factor affecting your credit score?
- Budgeting and debt management
- Payment history (correct)
- Credit mix
- Credit utilization ratio
What is the recommended level of credit utilization?
What is the recommended level of credit utilization?
Signup and view all the answers
What can be an excellent way to build credit for those with limited credit?
What can be an excellent way to build credit for those with limited credit?
Signup and view all the answers
What is essential for effectively building and maintaining credit health?
What is essential for effectively building and maintaining credit health?
Signup and view all the answers
What is the purpose of services like Experian Boost?
What is the purpose of services like Experian Boost?
Signup and view all the answers
Why is it important to review your credit report from all three major bureaus?
Why is it important to review your credit report from all three major bureaus?
Signup and view all the answers
What is a potential benefit of having a mix of credit types?
What is a potential benefit of having a mix of credit types?
Signup and view all the answers
Why is ongoing education important in a credit building plan?
Why is ongoing education important in a credit building plan?
Signup and view all the answers
Flashcards are hidden until you start studying
