Credit score factors, reports, interest, debt payoff strategies and loans.
40 cards · basic cards · AI-written, checked twice. Edit anything.
- What percentage of your credit score is determined by payment history?
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35%- What does credit utilization ratio measure?
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The percentage of your available credit that you are currently using.- What percentage of available credit is considered ideal to use?
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30% or less- How does the age of your credit accounts affect your credit score?
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Older accounts improve your score; they show a longer history of responsible credit management.- What percentage of your credit score comes from credit mix and payment history combined?
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50% (35% payment history plus 15% credit mix)- What is a hard inquiry?
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A credit check that occurs when you apply for credit; it may lower your score slightly and stays on your report.- What is a soft inquiry?
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A credit check that does not affect your credit score, used for pre-approval offers or background checks.- How long does a hard inquiry typically stay on your credit report?
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Two years- What credit score range is considered excellent?
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750 or above- What credit score range is considered good?
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670 to 739- What credit score range is considered fair?
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580 to 669- What credit score range is considered poor?
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Below 580- Name the three major credit reporting bureaus in the United States.
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Equifax, Experian, and TransUnion- What is a credit freeze?
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A security measure that prevents lenders from accessing your credit report without your permission.- What is a credit lock?
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A tool that restricts access to your credit file; it is similar to a freeze but easier to toggle on and off.
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