Credit Score Quiz Statistics



Quiz summary
People completed the quiz: 43962
People successfully passed the quiz: 34423
Current max score of quiz: 105 points
Current passing score of quiz: 70% or 73.5 points
 
Users' max score: 105 points
Users' min score: 1 points
Users' average score: 76 points


Questions
1

Which of the following might use credit scores?

Options    
Mortgage lender 3%
Credit card issuer 2%
Home insurer 1%
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 typically pay than a borrower with a good score?

Options    
Under $1,000 4%
$1,000-$3,000 17%
$3,000-$5,000 27%
More than $5,000 44%
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 61%
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 39%
No 58%
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 91%
No 9%
Don't Know 1%
7

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

Options    
Yes 26%
No 71%
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 46%
Those with a bank account 4%
Those who’ve paid for any financial or utility service 14%
All Americans at least 21 years old 36%
11

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

Options    
FICO and VantageScore Solutions 9%
Three main credit bureaus: Equifax, Experian, and TransUnion 83%
Individual lenders 3%
Federal government 3%
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 35%
Independent websites 1%
Many individual lenders 2%
All of the above 61%
Don't know 1%
13

Does each consumer have just ONE generic credit score?

Options    
Yes 13%
No 84%
Don't Know 2%
14

What is a good generic credit score?

Options    
600 4%
700 32%
800 21%
900 5%
It depends on the scoring system 37%
Don't know 1%
15

Are generic credit scores free?

Options    
Always 12%
Sometimes 71%
Never 10%
Don't know 7%
16

When are lenders who use generic 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 18%
All of these 64%
None of these 8%
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 13%
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. 15%
The co-signer's credit score is likely to improve if the student makes all payments on-time. 3%
The co-signer's credit score is likely to decline if the student makes one late loan payment. 5%
All of the above 69%
None of the above 8%
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 18%
Usually 19%
Occasionally 42%
Never 15%
Don't know 5%