Credit Score And Credit History Quiz

Credit score is the most important number, any person will ever find during his entire financial life. This 3 digit number decides what will be the interest rates, repayment terms and other benefits when someone applies for a loan or credit card. So valuable is this credit score, that even employers ask about it, when a person applies for a job. How much do you know about credit score and credit history?

Check it out with this simple credit score and credit history quiz.

Credit Score And Credit History Quiz

What is the range of credit scores?

	300-850
	400-950
	600-800
	500-1000

What is the thing that concerns lenders and credit card issuers the most when they deal with you?

	Your age.
	Your education.
	Your health and fitness.
	Your credit history and credit score.

What is considered as a bad credit score?

	Between 300 and 500.
	Between 500 and 700.
	Between 550 and 750.
	Between 600 and 800.

Which one of these statements is incorrect?

	The majority of people in USA have a credit score between 600-800.
	11% of the population in USA have credit scores above 800.
	Only 1% of the population having credit scores below 499.
	The credit score below 500 gives the best interest rates on credit cards.

Which of these will cause your credit score to decline?

	Not redeeming the reward points on time.
	Not using the credit card within a stipulated time period.
	Not paying the outstanding balances regularly for a long time.
	Not responding to credit card company's emails.

Which of the following statement is incorrect?

	The credit rating agencies in USA are bound by law to give you a free credit report every year on request.
	To get the free credit report you have to log on to www.freeannualcreditreport.com.
	The three major agencies that make credit report in USA are Experian, TransUnion and Equifax.
	Getting the credit report from all the credit rating agencies every year is a good practice.

Which company developed the credit score system?

	FICO
	Experian
	TransUnion
	NACO

The bankruptcies are taken off from your credit report after how many years?

	5
	7
	10
	15

A credit report will not contain which one of the following data?

	Your name and address.
	Your date of birth and employment details.
	Your social security number and loan details.
	Bankruptcy statements older than 10 years.

10.

Which one of the following is incorrect regarding mistakes in credit reports?

	Almost 80% of the credit reports have some kind of mistakes.
	To get the mistakes corrected you need to fill out the form that comes with the report, or follow the instructions on the explanatory sheet.
	The creditors have 30 days to respond to a charge of a discrepancy.
	The facts in the credit reports are final and there is no way to get it corrected.