Credit Score/ Credit Report

Front

What is a credit score?

Back

A number assigned to a person that indicates to lenders their capacity to repay a loan.

Front

Name one of the 3 nationally recognized credit bureaus.

Back

Equifax.

Front

True or False: A bad credit report cannot affect my chances of getting a job.

Back

False.

Tags

CCSS.RI.4.10

CCSS.RI.5.10

CCSS.RI.6.4

CCSS.RI.7.4

CCSS.RI.8.4

Front

How long are late payments retained on credit reports?

Back

7 years.

Front

True or False: Paying my bills late could negatively affect my credit history.

Back

True.

Front

What is a credit report?

Back

A detailed report of an individual's credit history, including credit accounts, payment history, and credit inquiries.

Front

What does a high credit score indicate?

Back

It indicates a strong ability to repay loans and may lead to better loan terms.

Front

What is the purpose of a credit bureau?

Back

To collect and maintain consumer credit information and provide it to lenders.

Front

True or False: Checking your own credit report can lower your credit score.

Back

False.

Front

What factors can affect your credit score?

Back

Payment history, credit utilization, length of credit history, types of credit, and new credit inquiries.