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How much do you know about credit reports and scores?

You've heard that credit scores and credit reports are important, but just how much do you know about them? Take our quiz and test your knowledge to see if you're a credit expert.

You'll get two points for each question you get correct -- although a few questions may require more than one correct answer to get both points. Good luck!

1. What is a credit score?

The amount of interest you pay annually to borrow using a credit card
A number indicating a borrower's credit risk
The money lenders earn by letting consumers borrow money
A government system used to rate banks

2. What is a credit history? Choose the two best answers:

A record of whether or not a borrower has paid bills on time, listed in a credit report
The way universities keep track of a student's class credit earned over an academic career
Something we must learn from or be doomed to repeat
The information used to calculate a consumer's credit score

3. Lenders look to credit scores when deciding whether to extend which type of credit?

Credit cards
All of the above

4. Which of these is NOT one of the three major U.S. credit bureaus?


5. What is the most commonly used credit score?

The FICO score
The Acme credit score
Discount Bob's Sav-a-lot score

6. A FICO credit score has how many digits?

It depends on how good your credit is

7. Which of the following is NOT considered when calculating your FICO score?

Your payment history
The types of credit you are using
The amount of debt you owe
Your income

8. What is a VantageScore?

A credit score created in a joint venture between the three major U.S. credit bureaus
A term borrowed from tennis but now used in banking
A score used by borrowers to rate lenders
All of the above

9. True or false: You can improve your credit score by having negative, incorrect information removed from your credit report


10. A change to which of the following could impact your FICO credit score?

Your credit card's annual percentage rate (APR)
Your credit limit
Your job title
Your home address