Sample response: Yes, Ahmed has a very good credit score. A credit score is a numerical rating that shows how good one’s credit is. It ranges from 300 to 850. Lenders will use his credit score to determine how likely it is that he will pay back the loan. With a score of 750, they will be confident that he will pay the money back. Check all that you included in your response.Yes, a score of 750 is a good credit score, so Ahmed should qualify for a car loan.Lenders use credit scores to determine h
You opened three new credit card accounts in a month. increasedecreaseno effect
Your employer gave you a raise, so your income increased. increasedecreaseno effect
The balance on your credit card is close to the credit limit. increasedecreaseno effect
Greg would have saved $ .
898.75
You make more than minimum payments before the due dates. increasedecreaseno effect
Martin used his credit card to buy a new bike. Which statement is true?
Which are considered good credit practices? Check all that apply.
Explain what a credit report is and list five kinds of information found on a credit report.
A credit report is a detailed written document that shows a person’s credit history. It includes personal information, information from public records, details about credit cards and loans, information from collection agencies, and a list of individuals or companies that have requested a copy of the credit report.
Check all that you included in your response.
Be sure to describe what a credit score is and how it is used by lenders.
A credit score is a numerical rating, usually ranging from 300 to 850, that reflects how responsibly a person has used credit. Lenders use it to judge how likely a borrower is to repay a loan and to help decide whether to approve the loan and what interest rate to charge.
Which should Mark do to increase his credit score?
Which would decrease your credit score? Check all that apply.
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You missed a credit card payment in November and paid a late fee. increasedecreaseno effect
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