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Understanding Your Credit


Pprothero
2 played - 11 yrs ago
Understanding your credit
 
QUIZ 11 QUESTIONS
55%
1

A credit bureau 'Tradeline' is the credit information reported by creditors to your credit report?

2

Your 'Debt to Income Ratio' is your monthly income divided by your monthly payment obligations.

3

Delinquency is reported to your credit report in 30, 60 and 90+ day increments.

4

How long you've had credit is the largest contributor to your credit score.

5

Closing credit cards is good for improving your FICO score.

6

Keeping your revolving limits high will improve your FICO score.

7

A revolving loan and an installment loan are the same thing.

8

Employers can use your credit to determine if you are eligible for employment.

9

A Bankruptcy will impact your credit for 10 years.

10

There is no impact on your credit is you are a co-signer on someone else's loan.

11

If your student loans are in deferment, there is no impact on your credit.


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