PF Flashcard 11 -- Managing Credit

A key factor influencing credit scores is: Recent credit applications, Monthly expenses, Martial status, Education level

All of the following are part of a credit report EXCEPT: Spending Habits, Loan Repayment, Credit Limit Utilization, Current Credit Inquiries

Failing to pay federal student loans may result in: Reduced student loan interest, Higher credit score, Tax refund garnishments, Having your degree taken away

In the event that a loan is not being paid back on the agreed terms, co-signer can be held responsible for . . .

Which of the following is TRUE about a credit report? It is a complete history of one type of credit you have , Credit reports are maintained by the 5 IRS , You can get a copy of your credit report for free , You can get a credit report only when you're 21 years old

Which of the following does NOT contribute to your credit score?
Your payment history,
Your debt-to-credit ratio,
Length of credit history

Establishing credit early can help with: Quick loan approvals, Higher credit card limits, Avoiding yearly credit checks, Getting better interest rates

Which of the following is TRUE about finding errors on your credit report? You may have to file a dispute with each credit bureau , You should wait until the end of the month before reporting , Finding errors is common, so it is not a big deal , There are never any errors on credit reports

What is the main reason someone might want a secured credit card?

Why might older individuals typically have higher credit scores?