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?
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.
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.
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?
Which of the following has the strongest impact on your credit score?
BLength of credit 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.
Which of the following is NOT included in your credit report?
APublic records and collection items
BHow much money you make
DYour credit accounts
True or False: When you get married, you and your spouse receive one joint credit score.
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
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?