Credit Quiz: How Credit Savvy Are You?

Which are the three major credit bureaus in the United States?

• Experian®, Equifax®, TransUnion®
• American Express, Master Card, Visa
• Bank of America, Citibank, Chase Manhattan

Can checking your own credit report hurt your credit score?

• Yes
• No

Can an employer get a copy of your credit report without your permission?

• Yes
• No

How long can a bankruptcy stay on your credit report?

• 2 years
• 5 years
• 7 years
• 10 years

What information is used to calculate your credit score?

• Your average credit history from the previous year
• The information that appears on your credit report the day your score is calculated
• Information contained on your credit reports from the last three months
• Your credit report and bank statements

Credit repair companies:

• Can "clean up" your credit by removing accurate, negative information
• Can only legally dispute inaccurate information on a credit report, which you may do yourself for free
• Help you legally create a new credit history
• Do a better job if you pay them more money

When is a consumer entitled to receive a free statutory credit file disclosure from a credit reporting company?

• After they have been denied credit
• Under the FACT Act, Americans will have the right to one free statutory credit file disclosure every twelve months from each of the three national credit reporting companies; residents of Georgia will be entitled two
• When they write to a bureau and request a copy of their own report
• A and B only

When you marry, your credit report:

• Is merged with your spouse's credit history
• Stays the same. The only information on both spouses' reports are joint accounts or those for which one spouse is an authorized user
• Shows your spouse's debt in a separate section
• Is wiped clean so you can start again