Exam 7: Assessing and Securing Your Credit

Which of the following can be used by a creditor in deciding whether or not to grant credit?

The minimum credit score required by financial institutions

Use the following two columns of items to answer the matching questions below: -dumpster diving

An advantage to credit is it eliminates the need for writing checks.

Credit cards are an example of revolving open-end credit.

In order to have good credit in the future,you must have used it wisely in the past.

Credit issued by department stores for relatively long periods of time is called non-installment credit.

Identity thieves that obtain your information from the magnetic strip on your credit card are using a technique known as

Using e-mail messages that pretend to be from a legitimate source to obtain account information for the purpose of identity theft is referred to as

With a credit score of over 500,you should have no problem getting approval for credit purchases.

If you receive a phone call that seeks to verify or update personal information you should

Credit scores in the 500-600 range will likely result in

________,________,and ________ are the three major credit bureaus.

The ________ is a document showing information reporting your payment history and past use of credit.

The Fair Reporting Act limits the sharing of credit information.

The Credit CARD Act of 2009 made it easier for college students to obtain credit cards.

Which of the following is not one of the three primary credit bureaus?

Identity theft only occurs through individuals who do not have legitimate access to your information.

Why is it so important that you make all of your credit and loan payments on time?

Which of the following items should not be removed from your wallet?