What is a credit score?

Credit Score Infographic Flashcard

Flashcard
•
Mathematics
•
12th Grade
•
Hard
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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 financial behavior.
2.
FLASHCARD QUESTION
Front
What range is considered an 'Excellent' credit score?
Back
An 'Excellent' credit score typically ranges from 740 to 850.
3.
FLASHCARD QUESTION
Front
What factors influence a credit score?
Back
Factors include payment history, credit utilization, length of credit history, types of credit used, and recent credit inquiries.
4.
FLASHCARD QUESTION
Front
What is the impact of a low credit score?
Back
A low credit score can lead to higher interest rates, difficulty in obtaining loans, and potential denial of credit.
5.
FLASHCARD QUESTION
Front
What is the credit card rate for an 'Excellent' credit score?
Back
The credit card rate for an 'Excellent' credit score is typically around 11.99%.
6.
FLASHCARD QUESTION
Front
What does a 'Fair' credit score range indicate?
Back
A 'Fair' credit score typically ranges from 620 to 679, indicating some risk to lenders.
7.
FLASHCARD QUESTION
Front
What is the median credit score in the US?
Back
The median credit score in the US is 722.
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