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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.
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.
3.
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.
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.
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.