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Wk 14 Exit Ticket 5.1 & 5.2
By Tang Xiong
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Last updated about 3 hours ago
5 questions
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Question 1
1.
Which of the following items does
not
appear on your credit report?
Your payment history on loans
Public records such as bankruptcies
Your credit card account numbers
Your current and past addresses
Question 2
2.
Why do many different types of companies check your credit report?
To verify your personal identity information
To assess your creditworthiness and risk as a borrower
To calculate your income level
To determine your employment history
Question 3
3.
What should you do if you find errors in your credit report?
Ignore the errors, as they will be corrected automatically over time
Increase your credit card balances to offset the errors
Request a credit score boost from the reporting agency
Contact the credit reporting agency and dispute the errors in writing
Question 4
4.
Why is paying more than the minimum payment (or paying your balance in full) on a credit card beneficial?
It helps you avoid interest charges and reduces debt faster
It increases your credit score immediately
It reduces your total credit limit
It automatically cancels any fees or penalties on the account
Question 5
5.
Which of the following is a type of secured debt where the item you purchased could be seized if you fail to make payments?
Student loan debt
Medical debt
Auto loan
Credit card debt