Credit Reports Flashcards
1
Q
What can you find on a credit report?
A
Personal Information, Account/Trade Line Information, Public Records, Inquiries, Consumer Rights, Payment History, Capacity Used, Length of Credit History, Type of Credit Used, New Credit, Credit Score
2
Q
What is a FICO Score?
A
The most commonly used scoring model for lending and credit decisions in the US.
3
Q
True or False: Amounts owed is the largest portion that takes up your FICO Score
A
False
4
Q
What is the largest portion in your FICO score determination?
A
Account History
5
Q
New Credit is ___% of your FICO Score
A
10
