Credit Reports

Which are the three major credit bureaus in the United States?

	A:	Experian^®, Equifax^®, TransUnion^®
	B:	American Express, Master Card, Visa
	C:	Bank of America, Citibank, Chase Manhattan

What is one factor that can significantly impact your credit score?

	A:	File for bankruptcy
	B:	Apply for credit to pay off previous debts
	C:	Make all payments on time, every time
	D:	Ignore charge-offs on your credit report

Can an employer obtain a copy of your credit report without your permission?

	Yes
	No

How long can a bankruptcy stay on your credit report?

What information is used to calculate your credit score?

	A:	Your average credit history from the previous year
	B:	The information that appears on your credit report the day your score is calculated

	C:	Information contained on your credit reports from the last three months
	D:	Your credit report and bank statements

Credit repair companies:

	A:	Can “clean up” your credit by removing accurate, negative information
	B:	Can only legally dispute inaccurate information on a credit report, which you may do for free

	C:	Help you legally create a new credit history
	D:	Do a better job if you pay them more money

Under what circumstances are consumers entitled to a free credit report from a credit bureau?

	A:	After they have been denied credit
	B:	Under the FACT Act, Americans will have the right to one free statutory credit file disclosure every twelve months from each of the three national credit reporting companies; residents of Georgia will be entitled two

	C:	When they write to a bureau and request a copy of their own report
	D:	A and B only

When you marry, your credit report:

	A:	Is merged with your spouse’s credit history
	B:	Stays the same. The only information on both spouses’ reports are joint accounts or those for which one spouse is an authorized user.

	C:	Shows your spouse’s debt in a separate section
	D:	Is wiped clean so you can start again