Check Your Understanding-Decide if each statement in true or false

Question 1.  Your credit report provides information about how much money you owe and if you pay your bills on time.
True      False   

Question 2. When you borrow money,  credit reporting agencies report this to your employer.
True      False    

Question 3. A low credit score means you have bad or no credit.
True     False 

Question 4. Credit reporting agencies look at your debt, your credit history and payment history to decide your credit score.
True     False 

Question 5. Banks and other creditors and lenders talk to your neighbors and family members to decide if they want to give you a credit card.
True     False  

Question 6. If you have a low credit score, you have a better chance of getting credit.
True     False 

Question 7. If you are a high risk, you probably won't get approval for credit or a loan. .
True     False    

 

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