Credit Training






Complete the following quiz to complete your training.

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Question 1 of 9) Which of the following is an advantage of credit use?

Credit reduces your financial flexibility
Using credit can make it tempting to overspend
Using credit can help you build a good credit score

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Answer: Using credit can help you build a good credit score

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Question 2 of 9) Having a low credit score will affect which of the following:

The amount of interest you are charged on auto loans and mortgages
Your ability to get a job or apartment
Both A and B

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Answer: Both A and B

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Question 3 of 9) Which of the following is a characteristic of a GOOD credit user?

Pays only the minimum payment due each billing period
Uses credit to purchase items they normally wouldn't be able to afford
Pays the entire balance each billing period in order to prevent wasting money on interest

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Answer: Pays the entire balance each billing period in order to prevent wasting money on interest

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Question 4 of 9) Which of the following is a GOOD way to build a good credit score?

Max out your credit cards - Charge as much as possible
Open 1 or 2 credit accounts and leave them open to build an account history
Close most of your credit accounts

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Answer: Open 1 or 2 credit accounts and leave them open to build an account history

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Question 5 of 9) What items should you consider when looking for a credit card?

APR, Grace Period, Fees & Rewards
Fees & Rewards
Just APR

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Answer: APR, Grace Period, Fees & Rewards

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Question 6 of 9) Is there a difference between your credit report and your credit score?

No, they are the same thing
A credit report includes only a list of your credit accounts and a credit score ia a measure of how you used your accounts
A credit report is a history of how you've paid your financial obligations - The information in your credit report is used to calculate your credit score

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Answer: A credit report is a history of how you've paid your financial obligations - The information in your credit report is used to calculate your credit score

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Question 7 of 9) If you have a low credit score, what is one thing you can do to increase your score?

Move your debt around - Put your debt on several credit cards
Work diligently to pay down your debts
Ignore mistakes on your credit report

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Answer: Work diligently to pay down your debts

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Question 8 of 9) What is the MOST important thing you can do to build a good credit score?

Open several credit accounts in a short period of time
Pay your bills on time
Use revolving credit accounts, including credit cards

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Answer: Pay your bills on time

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Question 9 of 9) Where should you go to check your credit report?

www.annualcreditreport.com
www.fico.com
Your credit card company's website

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Answer: www.annualcreditreport.com

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FINAL RESULTS

0-3 Correct

Please describe one thing you learned:


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FINAL RESULTS

3-6 Correct

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FINAL RESULTS

7-9 Correct

Please describe one thing you learned:


To receive your training certificate, please hit Submit.