NGPF 5.3 Your Credit Score | Baamboozle - Baamboozle

English 11 Public

credit scores

Study Slideshow

What’s the average credit score for Gen Z? 11-26 year olds

379

850

479

679

15

What is the scale for minimum to maximum possible credit score?

0-100

300-850

100-900

15

Why is it better to have a high credit score than a low one?

you will be more likely to be approved when applying for credit, more likely to get lower interest rates, and more likely to have positive outcomes

15

Explain how your payment history is used as a measure of your creditworthiness.

if you’ve been responsible enough to make on-time payments in the past, you can probably be trusted to make them in the future.

15

What value does the video recommend keeping your credit utilization percentage below?

10%

30%

100%

15

How do you calculate your credit utilization percentage?

(What you owe/your credit limit) X 100

your credit limit - what you owe

15

Which of the following categories make up most of your credit score?

Average length of your credit history

Number of recent hard inquiries

Payment history and credit utilization

Number of active credit accounts

15

It is best to avoid these in order to improve your payment history…

late payments

Banks that only offer one type of credit card

Payments greater than the minimum

Credit cards without a rewards program

15

It’s beneficial to use some of your available credit because…

Employers are less likely to hire you

Banks make you tuse some form of credit

shows you can responsibly use credit & builds your credit

15

What is our coping skill of the day?

problem solving

15

What are our five classroom expectations?

you better know this by now

15