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College and Career Readiness II Term Exam -2 (part 2-2) Questions and Answers
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College and Career Readiness II Term Exam -2 (part 2-2) Questions and Answers
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College and Career Readiness II TermExam #2 (part 2/2) Questions and
Answers
2 factors in calculating your credit score - Answer -Payment history and amounts owed
(T/F) It is more difficult for young people to borrow (i.e., get a loan) because they have
less payment history for a lender to rely upon. - Answer -TRUE
shows up on a credit report - Answer -Salary of your current job
annualcreditreport.com - Answer -you can order a free credit report online quickly and
easily from this site, which is sponsored by and supported by all three major credit
bureaus.
establishing a credit history - Answer -It is possible to start the development of credit
history by having a cosigner on a loan or credit card or by applying for and using a
student credit card.
LEAST likely to look at your credit score? - Answer -A bank representative who is
helping you open a savings account
High credit score gets you - Answer -lower interest rates
How long does a late payment stay on credit report? - Answer -7 years
way to use it to boost your credit score. - Answer -Using less than 30% of the credit limit
on your card and paying it off in full every month by the due date
companies that track credit info - Answer -Equifax, Experian and TransUnion
payday loans - Answer -A short-term, high-interest loan that usually must be repaid on
the borrower's next payday.
You find an error on your credit report.What should you do FIRST? - Answer -Contact
the credit card company to have them fix it.
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