Credit is essential for financial stability, which means you need to review your credit profile. Each section of your credit report carries information that lenders use to determine your creditworthiness.
Watch the video to learn about the different parts that make up Your Credit Report, then test your knowledge at the end of the lesson.
What are the three major credit bureaus?
A. Equifax, Experian, FDIC
B. Experian, TransUnion, CFPB
C. Equifax, Experian, TransUnion
D. IRS, Experian, TransUnion
To achieve good credit, you must obtain and use credit responsibly. One way you can do this is by:
A. Making all scheduled payments on time
B. Taking on new credit whenever possible
C. Closing credit accounts once you pay them off
D. Using credit cards to cover bills and expenses
Which of the following circumstances would produce a hard inquiry on your credit report?
A. Applying for new credit
B. Applying for an apartment
C. Applying for a mortgage
D. All of the above