The Econ4U Credit Ratings Quiz

Which of the following organizations determine your credit rating?

Experian, Equifax and TransUnion
Visa, Mastercard, and American Express
Citibank, Bank of America, and J.P. Morgan Chase
Your bank
Please select an answer.

How often can you obtain a free credit report?

Whenever you want
Once a month
Once a year
More than once a year under certain conditions
Please select an answer.

Which is most likely to improve your credit rating?

Opening new credit accounts
Spreading debt over many credit cards
Not missing payments
Keeping balances on credit cards low
Please select an answer.

What is the single most important factor in determining whether you will get a loan?

Income level
Home ownership
Amount of debt
FICO or credit score
Please select an answer.

How long does a bankruptcy claim stay on your record?

1 year
5 years
10 years
15 years
Please select an answer.

What is a credit score?

The number of credit cards issued in your name.
The annual percentage rate charged on a credit card account.
The score used by lenders to evaluate credit worthiness.
The score comparing the ratio of your debt to your income.
Please select an answer.

Which of the following are not included in on your credit report?

Identifying information like your Social Security number
Accounts with creditors
Savings and checking accounts
Public record information like late child support payments
Please select an answer.