Reading and Utilizing Your Credit Report

Fill in the blank: If you suspect that you're a victim of identity theft, you can request a ________ alert.

• fraud

• credit

• security

• identity

which one of these will NOT appear on your credit report?

• account history

• loan offers

• inquires

• personal information

TRUE or FALSE: You have no control over your credit score

• True

• False

Closing out accounts you are not using is helpful for your credit score

• Yes, because it shows lenders that you have room for new debt

• No, because it shows lenders that you are not faithful to them

• Yes, because you should avoid having any lines of credit open if possible

• No, because open accounts are used to determine credit history

What is NOT a factor to consider when picking a credit card?

• interest rate

• perks

• credit limit

• card style

Will checking your credit score negatively impact your score?

• Yes, because it would be a hard inquiry on my account

• No, because it would be a soft inquiry on my account

• Yes, because I am not suppose to know what my credit score is

• No, because you have to check your credit score daily

What is a quick fix to boost your credit score?

• apply for 5 new credit cards to boost your mix of credit

• Closing all lines of credit to boost your credit capacity

• There is no quick fix to boosting your credit score

• Make 3 payments in one day to boost your payment history

Why is it important to know how to read your credit report?

• It can help protect you from identity theft

• It isn't important as long as you are making your payments

• It helps you understand what you owe and how you are doing on payments

• It can be used to make you feel financially stable

How can evaluating your credit report help you plan for the future?

• You can decide when to make big purchases on credit to minimize the impact to your credit score

• It can help you to improve your credit score for the coming months

• your credit report has nothing to do with planning for the future

• optimizing your credit score and report can improve your odds of getting a new job

What is one of the best ways to improve your credit score?

• keep your credit capacity low

• make big purchases to increase credit history

• only have one type of credit at a time

• apply for a new credit card with a higher limit