Test your knowledge

Choose wisely. There is only one correct answer to each question.

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1.
Having a credit card that does not report your payment history to the credit bureaus helps you build a good credit history.
Choose wisely. There is only one correct answer.
False. To build a credit history, you want the card to report your payment history. Otherwise, the bureaus won't know about it.
2.
You can add new information to your credit report.
Choose wisely. There is only one correct answer.
True. Though credit bureaus arent required to accept it, they often do, and any positive information you add can make your credit report look more attractive.
3.
For incorrect information that you find on your credit report, complete and submit a _______ to the credit bureau for investigation.
Choose wisely. There is only one correct answer.
Disputed items form. The credit bureau will provide you with a disputed items form to fill out. When submitted, the credit bureau will investigate the items you dispute.
4.
If you know you are going to make a credit card payment late, talking with the credit card company will not do you any good.
Choose wisely. There is only one correct answer.
False. Though its not guaranteed to, the company might extend your due date or waive the late fee for you.
5.
Which of the following is a good credit-building step?
Choose wisely. There is only one correct answer.
To apply for a small retail store or gasoline company credit card. These are often the easiest cards to get. If you get a card, charge items and pay the bill on time.