What is a credit score?
Credit Score Flashcard

Flashcard
•
Mathematics
•
9th - 12th Grade
•
Hard
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15 questions
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1.
FLASHCARD QUESTION
Front
Back
A credit score is a numerical representation of a person's creditworthiness, based on their credit history and other financial behaviors.
2.
FLASHCARD QUESTION
Front
What factors are typically included in a credit report?
Back
Factors typically included in a credit report are payment history, amounts owed, length of credit history, new credit, and types of credit used.
3.
FLASHCARD QUESTION
Front
Which type of information is not included in a credit report?
Back
Medical information is not included in an individual's credit report.
4.
FLASHCARD QUESTION
Front
What does a credit score of 570 indicate?
Back
A credit score of 570 is considered poor.
5.
FLASHCARD QUESTION
Front
What is considered an exceptional credit score?
Back
An exceptional credit score is typically considered to be 800 or above.
6.
FLASHCARD QUESTION
Front
How does a higher credit score affect interest rates?
Back
A higher credit score generally leads to lower interest rates, not higher.
7.
FLASHCARD QUESTION
Front
What is the significance of payment history in a credit score?
Back
Payment history is the most significant factor in determining a credit score, as it reflects an individual's reliability in repaying debts.
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