Credit Score Workshop Flashcard

Front

How long does a Chapter 7 bankruptcy stay on your credit report?

Back

10 years

Front

What type of debt typically has the lowest interest rate? Credit Card Debt, Personal Loan, Mortgage Loan, Payday Loan

Back

Mortgage Loan

Front

Which factor has the BIGGEST impact on your credit score? Length of credit history, Credit utilization, Payment history, Types of credit used

Back

Payment history

Front

What is considered as an exceptional credit score?

Back

800-850

Front

How long do most negative items stay on your credit report?

Back

7 years

Front

Which of these does NOT affect your credit score?
Your income,
Late Payments,
Bankruptcy,
Credit Inquiries

Back

Your income

Front

How often can you check your own credit score without hurting it?

Back

As often as you want

Front

What is the FICO score range? (Most widely used credit scoring model)

Back

300-850

Front

What is the recommended maximum credit utilization percentage?

Back

30%

Front

How many free credit reports are you legally entitled to each year?

Back

1