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Questions and Answers
If your credit score is below 600, what type of credit risk are you considered by lenders?
If your credit score is below 600, what type of credit risk are you considered by lenders?
- Low risk
- High risk (correct)
- No risk
- Moderate risk
What are three ways you can boost your credit score?
What are three ways you can boost your credit score?
- Pay bills late, keep credit card balances high, apply for new credit accounts frequently
- Pay bills on time, keep credit card balances low, apply for new credit accounts only when needed (correct)
- Apply for new credit accounts frequently, keep balances high on credit cards, make late payments
- Keep credit card balances high, make late payments, open new credit accounts frequently
What are four benefits of having good credit?
What are four benefits of having good credit?
- Higher interest rates, slower credit approvals, lower deposits required by utilities, insurance approvals
- Lower interest rates, faster credit approvals, higher deposits required by utilities, insurance rejections
- Lower interest rates, faster credit approvals, lower deposits required by utilities, insurance approvals (correct)
- Higher interest rates, slower credit approvals, higher deposits required by utilities, insurance rejections
If your credit score is above 700, what type of credit risk are you considered?
If your credit score is above 700, what type of credit risk are you considered?
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To raise your credit score by 50 points, what action could you take?
To raise your credit score by 50 points, what action could you take?
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To raise your credit score by 80 points, what action could you take?
To raise your credit score by 80 points, what action could you take?
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What actions would you need to take to raise your credit score by 260 points?
What actions would you need to take to raise your credit score by 260 points?
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What is the general range for credit scores?
What is the general range for credit scores?
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What is the recommended approach for applying for new credit accounts?
What is the recommended approach for applying for new credit accounts?
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How long should you pay your bills on time to improve your credit score?
How long should you pay your bills on time to improve your credit score?
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