Credit Scores and Good Credit Quiz

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If your credit score is below 600, what type of credit risk are you considered by lenders? (Understanding Credit Score )

No risk

Low risk

Moderate risk

High risk (correct)

What are three ways you can boost your credit score? (Understanding Credit Score )

Keep balances high on credit cards

Pay bills late

Pay off accounts

Apply for and open new credit accounts frequently

Pay bills on time

Keep balances low on credit cards (correct)

What are four benefits of having good credit? (Understanding Credit Score )

Approval for insurance

Ability to borrow higher amounts (correct)

Higher deposits required by utilities

Approval for apartments

Approval by an employer

Higher interest rates

Better credit cards, car loans, and mortgage offers

Slower credit approvals

If your credit score is above 700, what type of credit risk are you considered? (Understanding Credit Score )

Low risk Signup and view all the answers

To raise your credit score by 50 points, what action could you take? (Understanding Credit Score )

Pay down credit balance Signup and view all the answers

True or false: A credit score below 600 is considered low risk to lenders. (Understanding Credit Score )

False Signup and view all the answers

True or false: Paying off accounts can raise your credit score by 80 points. (Understanding Credit Score )

True Signup and view all the answers

True or false: To raise your credit score by 260 points, you would need to take multiple actions. (Understanding Credit Score )

True Signup and view all the answers

Match the credit score range with the corresponding risk to lenders: (Understanding Credit Score )

300-600 = High risk Above 700 = Low risk Signup and view all the answers

Match the following actions with their potential credit score change: (Understanding Credit Score )

Pay off accounts = +80 Build history of paying on time = +40 Pay down further and no new accounts opened = +50 Signup and view all the answers

Match the benefits with having good credit: (Understanding Credit Score )

Get approved for insurance = Yes Obtain better credit cards, car loans, and mortgage offers = Yes Lowers your interest rates = Yes Signup and view all the answers

Where does Joe Smith work? (Credit Report Example)

Unitrade, Long Beach CA Signup and view all the answers

What is Joe's previous address? (Credit Report Example)

101 Quincy Street Signup and view all the answers

What did Joe have to file for on 12/1? (Credit Report Example)

Bankruptcy Signup and view all the answers

What three credit cards does Joe have? (Credit Report Example)

Walmart, Mastercard, Target Signup and view all the answers

What other debt does Joe have besides credit card debt? (Credit Report Example)

Student Loan Signup and view all the answers

Joe Smith's social security number is 100-10-0001.

True Signup and view all the answers

Joe Smith filed for bankruptcy on 12/01.

True Signup and view all the answers

Joe Smith has $20,400 in liabilities.

True Signup and view all the answers

Match the following information about Joe Smith with the correct details: (Credit Report Example)

Date of Birth = 7-20-75 Current Address = 243 East Dove Ave, Santa Fe, CA 92700 Previous Address = 101 Quincy Street, Long Beach CA 92675 Employer = Unitrade, Long Beach CA 92675 Signup and view all the answers

Match the following credit account information with the correct details: (Credit Report Example)

Walmart Account = Opened 7/97, Balance Due $2900 Visa Account = Opened 1/98, Good Standing Target Account = Opened 7/12, -30 days past due Student Loan Account = Opened 9/07, Good Standing Signup and view all the answers

Match the following entities with the reason they are mentioned in Joe Smith's credit report: (Credit Report Example)

Suntrust Properties = Requested Joe's credit file in 2/15 Mastercard = Requested Joe's credit file in 4/14 City of Long Beach = Location where Bankruptcy was filed Checking Account = Opened on 02/2004 but closed on 2014 for reasons of non-sufficient funds Signup and view all the answers

Credit Scores and Good Credit Quiz

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Questions and Answers

If your credit score is below 600, what type of credit risk are you considered by lenders? (Understanding Credit Score )

What are three ways you can boost your credit score? (Understanding Credit Score )

What are four benefits of having good credit? (Understanding Credit Score )

If your credit score is above 700, what type of credit risk are you considered? (Understanding Credit Score )

To raise your credit score by 50 points, what action could you take? (Understanding Credit Score )

True or false: A credit score below 600 is considered low risk to lenders. (Understanding Credit Score )

True or false: Paying off accounts can raise your credit score by 80 points. (Understanding Credit Score )

True or false: To raise your credit score by 260 points, you would need to take multiple actions. (Understanding Credit Score )

Match the credit score range with the corresponding risk to lenders: (Understanding Credit Score )

Match the following actions with their potential credit score change: (Understanding Credit Score )

Match the benefits with having good credit: (Understanding Credit Score )

Where does Joe Smith work? (Credit Report Example)

What is Joe's previous address? (Credit Report Example)

What did Joe have to file for on 12/1? (Credit Report Example)

What three credit cards does Joe have? (Credit Report Example)

What other debt does Joe have besides credit card debt? (Credit Report Example)

Joe Smith's social security number is 100-10-0001.

Joe Smith filed for bankruptcy on 12/01.

Joe Smith has $20,400 in liabilities.

Match the following information about Joe Smith with the correct details: (Credit Report Example)

Match the following credit account information with the correct details: (Credit Report Example)

Match the following entities with the reason they are mentioned in Joe Smith's credit report: (Credit Report Example)

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