Credit score quiz by joola | Feb 27, 2024 1. What is considered a good credit score by most lenders? 450 500 600 700 None Hint 2. Which factor has the greatest impact on your credit score? Length of credit history New credit Payment history Types of credit in use None Hint 3. What does it mean to have a credit utilization rate of 30%? You are 30% over your credit limit. You are using 30% of your total available credit. You have paid off 30% of your total credit. You need to reduce your spending by 30%. None Hint 4. Can checking your own credit score lower it? Yes, but only if you check it too often. Yes, it always lowers your score. No, but it will show as a negative mark on your report. No, it has no effect on your score. None Hint 5. Is it beneficial to close unused credit card accounts? Yes, to avoid potential fraud. Yes, it simplifies your finances. No, but it has no effect on your score. No, it can hurt your credit score. None Hint Time's up
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