The Ultimate Credit Report Quiz
by Staff
In today's world, your credit report can have a big impact on your life. Understanding your report and making sure it is accurate are important to your financial wellbeing. Take our quiz to learn everything you need to know about your credit report.

Which of the following may cause you to be denied a line of credit?

  • Your credit report says you have a lot of debt.
  • Your credit report says you don't pay your bills on time.
  • both of the above

Which facts about your financial life are included in your credit report?

  • money you will inherit in the future
  • a bad debt from 20 years ago
  • your monthly debts

Credit reports are compiled by:

  • credit card companies
  • credit bureaus
  • banks

The first groups organized by merchants in the United States to protect themselves from bad debt were known as:

  • mutual protection societies
  • roundtables
  • both of the above

In what 19th century decade were the first third-party credit reporting agencies established in the United States?

  • 1830s
  • 1860s
  • 1890s

Which personal identifying information is included in your credit report?

  • address
  • education
  • number of siblings

Your bill-paying history is also known as your:

  • default history
  • credit history
  • monthly banking history

Which public records are considered relevant to your credit report?

  • your birth certificate
  • your marriage license
  • bankruptcy court records

Which section of a credit report is of interest to credit card companies that want to offer you a "pre-approved" card?

  • credit card inquiries
  • report inquiries
  • bank inquiries

Which type of statement, included in your credit report, allows you to dispute information in the report?

  • dispute statement
  • conflict statement
  • appeal statement

The different versions of credit reports available are:

  • the consumer version
  • the business version
  • both of the above

The three-digit number that sums up the information in your credit report is your :

  • credit number
  • credit score
  • credit digit

How many major national credit bureaus are there?

  • three
  • ten
  • 20

Which type of inquiry is considered a "hard inquiry" that may influence negatively how potential lenders view your credit report?

  • an application for a credit card
  • requests to view your credit report
  • requests to view your bank records

What do you need to do to close a credit card account?

  • Cut the card in half.
  • Put the card away in a drawer or safe.
  • Call or write the card company.

How many credit cards should you maintain to keep your credit score and debt balances healthy?

  • four to six
  • eight to 12
  • 15 to 20

How many years do payment delinquencies remain on your credit report?

  • two
  • seven
  • ten

Maxed-out credit lines indicate to creditors that:

  • You are a savvy spender.
  • You are in financial trouble.
  • You don't need any more credit.

Which 1971 United States law specifies who can access your credit report and for what reasons?

  • The Fair Credit Reviewing Act
  • The Fair Credit Responsibility Act
  • The Fair Credit Reporting Act

How much does it cost to get a copy of your credit report?

  • 10
  • 20
  • 50