Quizzes

Credit IQ Quiz

Ok, so maybe you’re a bright bulb academically. How’s your credit IQ? See how skilled you are at some neglected skills, like knowing when to use a credit card, or the definition of “credit floor.” You’re probably using credit right now, but do you really know what’s happening when you swipe your card?

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1. How long can a bankruptcy stay on your credit report?




2. What information is not used to calculate your credit score?




3. What qualifies as a good credit score?




4. What is a credit floor?




5. What does APR mean?




6. When is the best situation to use your credit card?




7. How can you lower your monthly payments and maintain your high credit score after a big purchase?




8. Which of these is affected by your credit?




9. Which organization is responsible for your credit-based consumer rights?




10. True or False: It’s best to pay off your credit balance in full each month.


11. What is a potential long-term effect of cancelling all your credit cards?




12. What’s the difference between a hard inquiry and a soft inquiry?




13. Which agency is not one of the three major credit reporting agencies?




14. Expect to find your credit score somewhere between




15. How often are U.S. residents entitled to see their credit reports for free?




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