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1.
When a disputed items form is submitted to the credit bureau, the bureau has _______ to investigate and contact you with their results.
30 days. Regulations require that the credit bureau complete an investigation of the items you dispute and contact you with their findings within 30 days.
2.
To rebuild credit, it can help if you use your credit card every month.
True. Using it regularly can help you build up your credit. Also, paying it off on time can help you build your credit rating.
3.
Having a credit card that does not report your payment history to the credit bureaus helps you build a good credit history.
False. To build a credit history, you want the card to report your payment history. Otherwise, the bureaus won't know about it.
4.
If you have bad credit and you want to get a loan or credit card from a bank, which of the following is the most effective thing to do first?
Have a deposit account. A deposit account is a sign of stability; also, it can be a source of collateral for a credit card.
5.
When it comes to negative information in your credit report, most negative information will appear in your credit report for _______.
Seven years. Although some negative information can appear for longer, most negative information will appear in your credit report for seven years.