Credit Score Quiz Statistics



Quiz summary
People completed the quiz: 51878
People successfully passed the quiz: 39082
Current max score of quiz: 110 points
Current passing score of quiz: 70% or 77 points
 
Users' max score: 110 points
Users' min score: points
Users' average score: 77 points


Questions
1

Which of the following might use credit scores?

Options    
Mortgage lender 3%
Credit card issuer 2%
Home insurer 0%
Cell phone company 1%
Electric utility 0%
Landlord 0%
All of the above 93%
2

On a $20,000, 60-month auto loan, about how much more would a borrower with a low credit score likely pay than a borrower with a high score?

Options    
Under $1,000 4%
$1,000-$3,000 17%
$3,000-$5,000 26%
More than $5,000 45%
Don't know 8%
3

Which of the following does a credit score typically measure?

Options    
Knowledge of consumer credit 3%
Attitude toward consumer credit 3%
Amount of consumer debt 19%
Risk of not repaying a loan 60%
Financial resources to pay back loans 12%
Don't know 2%
4

Is a person’s age a factor used to calculate a credit score?

Options    
Yes 37%
No 60%
Don't Know 3%
5

Are missed payments a factor used to calculate a credit score?

Options    
Yes 98%
No 1%
Don't Know 1%
6

Is carrying a high balance on a credit card a factor used to calculate a credit score?

Options    
Yes 90%
No 9%
Don't Know 1%
7

Is marital status a factor used to calculate a credit score?

Options    
Yes 26%
No 72%
Don't Know 2%
8

Is ethnicity a factor used to calculate a credit score?

Options    
Yes 5%
No 94%
Don't know 1%
9

Is personal bankruptcy a factor used to calculate a credit score?

Options    
Yes 97%
No 2%
Don't know 0%
10

Which group of Americans is most likely to have a credit score?

Options    
Those who have borrowed money 47%
Those with a bank account 5%
Those who’ve paid for any financial or utility service 14%
All Americans at least 21 years old 35%
11

Who collects the information on which credit scores are most frequently based?

Options    
FICO and VantageScore Solutions 10%
Three main credit bureaus: Equifax, Experian, and TransUnion 81%
Individual lenders 3%
Federal government 4%
Don't know 2%
12

Who may make a credit score available to an individual consumer?

Options    
Three main credit bureaus - Equifax, Experian and TransUnion 33%
Independent websites 1%
Many individual lenders 2%
All of the above 62%
Don't know 1%
13

Does each consumer have just ONE generic credit score?

Options    
Yes 14%
No 83%
Don't Know 2%
14

What is a good generic credit score?

Options    
600 4%
700 31%
800 21%
900 6%
It depends on the scoring system 38%
Don't know 1%
15

Are generic credit scores free?

Options    
Always 12%
Sometimes 72%
Never 10%
Don't know 6%
16

When are lenders who use credit scores required to inform borrowers of the credit score used in the lending decision?

Options    
After a consumer applies for a mortgage 2%
On all credit card, auto and other consumer loans when a consumer doesn't receive the best terms and/or lowest interest rate available 6%
Whenever a consumer is turned down for a loan 16%
All of these 65%
None of these 7%
Don't know 3%
17

Which of the following actions helps a consumer raise a low score or maintain a high one?

Options    
Make all loan payments on time 6%
Use a credit card keeping the balance under 25% of the credit limit 1%
Avoid opening several new credit card accounts at the same time 1%
All of the above 91%
Don't Know 1%
18

When will multiple inquiries about getting a mortgage or auto loan or loans from lenders lower one’s FICO or VantageScore credit score?

Options    
Each time one makes an inquiry 37%
Only when one makes at least five inquiries 20%
Never during a 1-2 week window 30%
Never 12%
19

How would co-signing a student loan affect one's credit score?

Options    
At first, the co-signer's credit score is likely to decline slightly because their credit score is pulled and an inquiry reported. 12%
The co-signer's credit score is likely to improve if the student makes all payments on-time. 4%
The co-signer's credit score is likely to decline if the student makes one late loan payment. 6%
All of the above 70%
None of the above 7%
20

How important is it to check the accuracy of your credit reports at the three main credit bureaus?

Options    
Very important 94%
Somewhat important 4%
Not very important 1%
Don't know 1%
21

How often are credit repair companies helpful in correcting any credit report errors and taking other measures to improve one’s credit score?

Options    
Always 20%
Usually 22%
Occasionally or never 43%
22

When you cannot resolve a complaint to a credit bureau or lender about your credit report or credit score to your satisfaction, which of these federal government agencies is best suited to help you resolve the problem?

Options    
The Federal Reserve Board 6%
U.S. Federal Trade Commission 15%
U.S. Consumer Financial Protection Bureau 75%
U.S. Department of Justice 3%