What is the primary purpose of a credit score?

Understanding Credit Scores and Cards

Interactive Video
•
Business, Life Skills, Other
•
9th - 10th Grade
•
Hard

Patricia Brown
FREE Resource
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10 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
To calculate your monthly expenses
To track your savings account balance
To show how well you manage borrowed money
To determine your annual income
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
How do credit cards help in building a credit score?
By making regular payments on borrowed amounts
By offering high interest rates
By requiring no monthly payments
By allowing unlimited borrowing
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which factor has the most significant impact on your credit score?
The number of credit cards you own
The amount of money in your savings account
Timely payment of borrowed money
The number of loans you have
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is a potential consequence of having a bad credit score?
More loan approvals
Increased credit limits
Lower monthly payments
Higher interest rates on loans
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is a secured credit card?
A card that requires a deposit before use
A card that offers cash back on all purchases
A card with no spending limit
A card that does not require any identification
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
How often can you check your credit score for free?
Every two years
Once a month
Once a year
Every six months
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is typically required to open a credit card account?
A driver's license
A social security number or taxpayer ID
A birth certificate
A utility bill
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