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1.
Which of the following is NOT a good reason to have a credit card?
To pay for daily expenses. Daily expenses are best paid for with cash.
2.
You can add new information to your credit report.
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.
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.
4.
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.
5.
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.
False. Though its not guaranteed to, the company might extend your due date or waive the late fee for you.