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1.
Which of the following is a good credit-building step?
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.
2.
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.
3.
If you want to close one of your credit cards, which of the following will affect your credit score more?
Closing one with a balance on it. When you close a card, your credit limit becomes zero and it may thus appear maxed out.
4.
How long can a bankruptcy stay on your credit report?
Seven or 10 years, depending on the type of bankruptcy. At present, they can stay this long.
5.
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.