Credit Scores

What is a credit score?

• A credit score is a three-digit numerical rating that reflects how likely you are to fail at paying your debts
• A five-digit numerical rating that reflects how likely you are to repay your debt. 
• A three-digit numerical rating that reflects how likely you are to repay your debt. 
• A credit score is a five-digit numerical rating that reflects how likely you are to fail at paying your debts

A credit score of 800 is considered _____

• Poor
• Fair
• Good
• Amazing

Tags

CCSS.RI.5.10

CCSS.RI.6.4

CCSS.RI.7.4

CCSS.RI.8.4

CCSS.RI.9-10.4

What actions can decrease your credit score?

• Pay your bills on time
• Only check your credit score once a year
• Max out your credit cards
• Pay off your full debt at one time

Your credit score falls between what range?

• 300 - 800
• 300 - 850
• 350 - 800
• 350 - 850

Tags

CCSS.8.NS.A.1

True or False: Missing a payment on your credit card has no effect on your credit.  

• True 
• False

My credit history does not affect my chances for renting my first apartment.

• True
• False

Routinely paying my bills late could negatively affect my credit history.

• True
• False

Tags

CCSS.RI.5.8

CCSS.RI.6.8

CCSS.RI.8.1

CCSS.RL.4.5

CCSS.RL.7.1

If my credit card allows me to charge up to $1000, I should charge the maximum amount to build my credit history.

• True
• False

Length of credit history is listed on your credit report

• True
• False

What can be found on your credit report?

• FICO score
• Girlfriend's name
• Cash amount in your bank account
• Number of traffic tickets