Credit Ratings and Credit Scores

Front

Identify the three main credit bureaus.

Back

Experian, TransUnion, Equifax

Front

What information is included in a credit report?

Back

Personal information, types of debt, payment history

Front

What is the range of credit scores that Kayla might be referring to?

Back

300-850

Front

Factors to focus on to improve credit score?

Back

Payment history, credit utilization, length of credit history

Front

How often should Joel check his credit reports when planning to apply for a loan?

Back

Once a year

Front

What is the purpose of checking Franklin's credit score?

Back

To determine Franklin's creditworthiness

Front

What type of inquiry is performed when Lexi applies for a new credit card and the bank checks his credit history?

Back

An inquiry that impacts Lexi's credit record

Front

What is the term for the bank taking possession of a property if the owner defaults on a loan?

Back

Foreclosure

Front

Who calculates Donovan's credit scores?

Back

Fair Isaac Corporation

Front

What is the purpose of credit bureaus?

Back

They track individuals' financial lives and calculate credit scores