Credit Score Quiz

How well do you understand credit?

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It’s quick! Only 15 short questions!

What percentage of your credit score is related to your gender and marital status?

  • AIt accounts for 5% of your score
  • BIt accounts for 10% of your score
  • CIt accounts for 15% of your score
  • DThese factors have no bearing on your score whatsoever

Which of the following do NOT affect your credit score?

  • APayment history
  • BThe interest rate on your credit card or other credit account
  • CHow much total debt you have
  • DThe length of your credit history

True or false: Each time you apply for a credit card and the credit issuer makes a credit inquiry, your credit score can be impacted.

  • CTrue
  • DFalse

True or false: Once a year, you are allowed to request a free copy of your credit report, but if you request more than one copy in a single year, it is counted as a credit inquiry and causes a temporary ding to your credit score.

  • CTrue
  • DFalse

Which of the following ensures that consumers have access to one free copy of their credit report each year?

  • AEqual Credit Opportunity Act
  • BFair Credit Billing Act
  • CFair Credit Reporting Act
  • DIdentity Theft Protection Act

Which of the following is NOT one of the three major credit bureaus that collect credit information on consumers?

  • AAdvantage
  • BTransUnion
  • CEquifax
  • DExperian

Which of the following has the strongest impact on your credit score?

  • AAmounts owed
  • BLength of credit history
  • CNew credit
  • DPayment history

Victims of identity theft can have their credit scores impacted severely if a criminal opens lines of credit in their name and racks up debt. What can a consumer do to avoid identity theft?

  • AAvoid leaving personal financial information around the home
  • BLook over their bank statements electronically for any errors at least twice a month
  • CEnroll in a service that provides you with your credit report and credit score on a regular basis
  • DAll of the above.

True or false: If you are going through credit counseling to get your finances in order, this will be reflected in your FICO score, and your credit score will improve.

  • CTrue
  • DFalse

Which of the following is NOT included in your credit report?

  • APublic records and collection items
  • BHow much money you make
  • CCredit inquiries
  • DYour credit accounts

True or False: When you get married, you and your spouse receive one joint credit score.

  • CTrue
  • DFalse

Under what circumstances will you not have a credit report?

  • AYou've never opened a line of credit, or have moved out the country and your credit report is deleted over time.
  • BIf you file for bankruptcy, which purges your credit report.
  • CImmediately after you pay off all of your credit cards and loans, including students loans, home loans, auto loans, etc.
  • DUnder no circumstances. Your credit report begins when you are issued a Social Security number.

When you are attempting to fix a credit report error, the credit bureau who recorded the item in question has how long to investigate the potential error?

  • A10 working days
  • B30 days
  • C60 days
  • D90 days

The following make up your FICO score:

  • APayment history, amounts owed, length of credit history, new credit, and types of purchases made
  • BPayment history, amounts owed, length of credit history, new credit, and types of credit used.
  • CPayment history, amounts owed, length of credit history, new credit, and where you live.
  • DPayment history, amounts, owed, length of credit history, new credit, and employer credit checks.

Which of these options is NOT a tried and true method of improving your credit score?

  • APaying your bills on time
  • BKeeping balances low
  • CClosing a credit card account
  • DCorrecting errors on your credit report

You did great!

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