tips to improve your credit score

What is the most important factor in determining your FICO score?

• Length of credit history

• Credit mix

• Credit utilization

• Payment history

What percentage of your FICO score is determined by your credit utilization?

• 35%

• 30%

• 15%

• 10%

Which of the following is NOT a major credit bureau?

• Equifax

• Experian

• TransUnion

• FICO

What FICO score range is considered 'Good'?

• 800 or higher

• 740-799

• 670-739

• 580-669

How long do hard inquiries remain on your credit report?

• 6 months

• 1 year

• 2 years

• 5 years

What is a quick way to potentially raise your credit score?

• Applying for new credit cards

• Closing old credit cards

• Paying off revolving credit balances

• Increasing your credit limit

Which type of credit card is often easier for someone with limited credit history to get approved for?

• Rewards credit card

• Secured credit card

• Business credit card

• Travel credit card

What is the impact of becoming an authorized user on someone else's credit card?

• It can either raise or lower your credit score

• It can lower your credit score

• It has no impact on your credit score

• It automatically raises your credit score

What is the average FICO credit score according to Experian?

• 800

• 780

• 714

• 650

What percentage of adults with a FICO score have a score of 800 or higher?

• 11.5%

• 6%

• 21%

• 30%