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The Ultimate Hurting Your Credit Score Quiz
by Staff
Sticks and stones may break your bones, but a bad credit name will also harm you. How much damage can you cause to your own credit score if you're not careful? Take this quiz to get the answers.

What is a common way to improve your credit score?

  • Ask the credit company to recalculate it in your favor.
  • Pay bills before they're due.
  • Open a new bank account.

How long can it take to damage your credit score?

  • no time at all
  • a few months
  • a number of years

Where is debt-free living discussed?

  • in the confines of your bank manager's office
  • at PTA meetings
  • on radio shows and Web sites

What findings do some studies conclude regarding credit scores?

  • Credit scores are not worth the paper they're written on.
  • The numbers are always an accurate and fair calculation of credit worthiness.
  • The numbers may not be a true reflection of a person's credit worthiness.

A library book that you haven't returned could cost you how many credit points?

  • as few as 20
  • as many as 50
  • as many as 100

You are spending too much so you decide to cancel one credit card. Does this damage your credit score?

  • strangely, yes
  • thankfully, no
  • no, it actually increases it

How do credit bureaus use your available credit and your debt to determine your credit score?

  • They calculate the difference between the two.
  • They go according to the ratio between them.
  • They set a low limit and increase your balance.

Which of these companies created the industry standard for credit models?

  • Morgan Stanley
  • Fair Isaac Corporation
  • Dow Jones & Company

What kind of debts affect your credit score more, old debts or new ones?

  • old debts
  • new debts
  • they affect the score equally

How does contacting a collection agency to rectify an old debt go against you?

  • They would rather bury the past than dig up archives.
  • They resent being called. Usually, they call you for things.
  • It appears as recent or new activity.

If a third of your credit score is based on your credit history, will late payments be positive or negative in terms of your score?

  • negative
  • positive
  • neither, since it has no bearing on your score

After six months of unpaid bills, a credit card company will turn the problem over to a collection agency. They'll write off your debt and call it a:

  • no-dough-show
  • bill bungle
  • charge-off

For how many years can a charge-off appear in your credit history?

  • for five years
  • for seven years
  • for 10 years

You're in debt so you close your account. What happens then?

  • You have to pay the debt and your credit limit is significantly lower.
  • You don't have to pay the debt any more because the account is kaput.
  • You still have to pay, but you don't have a credit limit.

Late payments can create a ripple effect with regard to damaging your credit score. What is the effect sometimes called?

  • a domino effect
  • a halo effect
  • a bad effect