Mastering Credit 104

What is the primary focus of the video?

• How to raise your credit score quickly

• How to invest in stocks

• How to save money on groceries

• How to start a business

What is the name of the DIY program mentioned in the video?

• Limitless Culture

• Credit Boost

• Credit Master

• Score Up

What is the main factor discussed in the video that affects your credit score?

• New credit accounts

• Credit history length

• Credit utilization

• Credit inquiries

What was the average credit utilization in the United States in 2021?

• 26%

• 35%

• 30%

• 20%

What percentage of Americans do not carry a balance and report zero utilization?

• 10%

• 5%

• 3%

• 1%

What should you do to avoid paying interest fees on your credit card?

• Pay off your credit card in full by the due date

• Only use your credit card for large purchases

• Keep your credit card balance below 50%

• Use multiple credit cards

What happens if you carry a balance on your credit card past the statement closing date?

• You get a higher credit limit

• You incur interest fees

• Your credit score increases

• You receive a reward

Why is it better to use a credit card instead of a debit card?

• Credit cards have lower interest rates

• Credit cards offer better fraud protection

• Credit cards are accepted everywhere

• Credit cards have higher limits

What is the main benefit of using a credit card for everyday purchases?

• Higher credit limits

• More reward points

• Better fraud protection

• Lower interest rates

What is the optimal credit utilization percentage for the best credit score?

• 0%

• 1-6%

• 7-19%

• 20-30%