Podcast
Questions and Answers
Which of these is not one of the three big credit reporting agencies in the United States?
Which of these is not one of the three big credit reporting agencies in the United States?
- Equifax
- TransUnion
- Experian
- TransFaxUniperian (correct)
Which option represents one of the major functions of credit reporting agencies?
Which option represents one of the major functions of credit reporting agencies?
- Granting loans to individuals
- Managing bank accounts
- Collecting taxes for the government
- Providing credit scores to consumers (correct)
What can be a consequence of having a low credit score?
What can be a consequence of having a low credit score?
- Increased chance of loan approval
- Better interest rates on loans
- Access to premium credit cards
- Higher premiums on insurance (correct)
Which term is frequently used to describe the interest rate applied to a loan based on creditworthiness?
Which term is frequently used to describe the interest rate applied to a loan based on creditworthiness?
Which option is typically included in a credit report?
Which option is typically included in a credit report?
Flashcards
Credit Reporting Agencies in the US
Credit Reporting Agencies in the US
Companies that collect and share information about people's credit histories.
3 Major Credit Bureaus
3 Major Credit Bureaus
Equifax, Experian, and TransUnion are the most significant credit reporting agencies in the US.
Non-Credit Bureau examples
Non-Credit Bureau examples
Companies that are not part of gathering credit history like Equifax, Experian, or TransUnion.
TransFaxUniperian
TransFaxUniperian
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Identifying credit agencies
Identifying credit agencies
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