Podcast
Questions and Answers
What is a potential benefit of having a good credit score?
What is a potential benefit of having a good credit score?
- Qualifying for better interest rates on loans and credit cards (correct)
- Paying higher interest rates on loans
- Increasing credit card limits
- Avoiding credit card fees
What happens when you 'max out' a credit card?
What happens when you 'max out' a credit card?
- You use the credit card to its credit limit (correct)
- You hide the card from lenders
- You pay off the credit card completely
- You destroy the card physically
What practice is beneficial for your credit health?
What practice is beneficial for your credit health?
- Keeping a high balance on one card
- Using different types of credit (correct)
- Missing a credit card payment
- Only using cash for all transactions
How can identity theft affect your credit score?
How can identity theft affect your credit score?
What should you do if you find an error on your credit report?
What should you do if you find an error on your credit report?
What is the main purpose of the Fair Credit Reporting Act (FCRA)?
What is the main purpose of the Fair Credit Reporting Act (FCRA)?
What is the primary purpose of a credit score?
What is the primary purpose of a credit score?
What is a potential consequence of having a high credit score?
What is a potential consequence of having a high credit score?
What is a good practice for managing credit card debt?
What is a good practice for managing credit card debt?
What does a credit report typically include?
What does a credit report typically include?
What is a potential benefit of debt consolidation?
What is a potential benefit of debt consolidation?
What is a common factor that directly affects your credit score?
What is a common factor that directly affects your credit score?
What does APR stand for in credit terminology?
What does APR stand for in credit terminology?
What type of credit report information does not affect your credit score?
What type of credit report information does not affect your credit score?
How often should you ideally check your credit report?
How often should you ideally check your credit report?
What entity collects information on your credit history and compiles it into a credit report?
What entity collects information on your credit history and compiles it into a credit report?
What is considered a 'good' credit score?
What is considered a 'good' credit score?
What type of information is NOT found in your credit report?
What type of information is NOT found in your credit report?
What is 'debt consolidation'?
What is 'debt consolidation'?
Why is it important to have a good credit history?
Why is it important to have a good credit history?
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