Picture: iStockphoto/Thinkstock
About This Quiz For many individuals, pulling their credit report is be like pulling teeth. For no cost and no penalty to your credit score rating, you are entitled to a copy of your credit score report yearly. Take our quiz to see if you understand the ins and outs of pulling your credit report and your credit score rating.
The three major credit score bureaus are Experian, TransUnion and ________.
The major credit score bureaus are Experian, TransUnion and Equifax.
Transfax
Experfax
What's a tough inquiry of your credit score report?
an inquiry by a company that has business with you
A hard inquiry takes place when an organization that has business with you inquires about your credit score. Hard inquiries could happen whenever you apply for a brand new credit card and even do one thing as minor as order cable providers.
an inquiry by a company that has no business with you
an inquiry from you
Why must you limit the number of laborious inquiries?
Exhausting inquiries lower your credit score rating.
One hard inquiry will deduct about five points out of your whole credit score rating. In case you are looking for debt with a number of institutions, do not be concerned, as all of the inquiries made around the same time period will rely collectively as one inquiry. Try to do your mortgage buying within about two weeks, so you will not have factors deducted for a number of hard inquiries.
Onerous inquiries indicate a credit score threat.
Arduous inquiries point out a gradual payer.
Will delicate inquiries change your credit score?
no
Tender inquiries do not change your credit score rating.
sure, one level for every gentle inquiry
sure, three points for every soft inquiry
Before sending you an unsolicited pre-approved credit card software, do corporations examine your credit?
Companies could pull a gentle inquiry.
Companies could perform a soft inquiry earlier than sending you an software.
Firms always pull a tough inquiry.
Firms do not examine your credit score.
When you've got been permitted for a mortgage, what else does your credit score affect?
the length of the loan
the interest fee of the loan
Your credit score helps to find out the curiosity charge you can be charged.
the amount of the loan application payment
How usually must you check your credit?
every six months
annually
It's best to check your credit score report no less than as soon as a year.
best buy credit card Whenever you examine you own report, what type of inquiry is that this?
Getting your individual credit report is taken into account a mushy inquiry.
neither
How a lot do it's a must to pay to do an annual verify of your credit report?
The Honest and Correct Credit Transactions (Truth) Act permits you to see your credit score report from each major credit score bureau yearly for no charge.
$10 per credit score bureau
$50 per credit bureau
How do you get a duplicate of your credit report?
Go to AnnualCreditReport.com.
The three main credit score bureaus set up the online site AnnualCreditReport.com specifically for customers to get their free credit studies. You too can name or write to each credit bureau individually. Beware of other Web pages that provide credit score stories although; the one actually free site is AnnualCreditReport.com.
Go to GetMyCredit.com.
Go to IRS.gov.
How much does it value to examine your credit report after the annual free report?
10
15
Subsequent credit experiences price about $15 every. This may be a small value to pay to protect your credit score score.
25
What are the range of precise credit score numbers?
100 to 500
200 to 700
300 to 850
Credit scores vary from 300 to 850. The upper your credit score score, the higher your credit score.
What is one other identify for the FICO quantity?
credit score score
FICO comes from Honest Isaac Company and is one other name for the credit score rating.
debt index
monetary feasibility coefficient
What does a high credit score indicate to monetary institutions?
your credit score worthiness
The higher the score, the greater the probability that you just pays again your loans in full and on time.
your financial institution steadiness
your life expectancy
What should you do if there is inaccurate info in your credit score report?
dispute
It's best to dispute any incorrect data. Credit bureaus have 30 days to confirm or remove the information.
complain
nothing
What is a credit reporting agency?
credit bureau
A credit bureau and credit reporting agency are the identical thing.
bank
credit card firm
What credit score data is in the public report?
bankruptcies
liens and judgments
both solutions
Bankruptcies, liens and judgments are all in the general public record.
Why should not you apply for every credit card that has a good supply?
Too many laborious inquiries will hurt your credit score.
You do not need to overextend your credit score, and too many arduous inquiries will impact your credit score.
Too many delicate inquiries will harm your credit score rating.
Too much credit score will stop you from getting any loans sooner or later.
Potential employers may pull which type of credit report?
delicate inquiry
Potential employers might pull a mushy inquiry report to verify your financial conduct.
laborious inquiry
none
How can you discover out who has requested arduous inquiries?
Your credit report lists this info.
This information is available in your credit score report. Make sure all requests are from companies you already know.
You can not see this info.
A lawyer has to request this info in your behalf.
/20
iStockphoto/Thinkstock