You now know the five factors that determine your credit score and how much each one matters. Let's practice identifying these factors in action.
Engagement Message
Ready to analyze some credit scenarios?
Type
Fill In The Blanks
Markdown With Blanks
Let's review the credit score factors and their importance. Fill in the missing percentages:
The five credit score factors are:
- Payment History: [[blank:35]]%
- Credit Utilization: [[blank:30]]%
- Length of Credit History: [[blank:15]]%
- Credit Mix: [[blank:10]]%
- New Credit Inquiries: [[blank:10]]%
Suggested Answers
- 35
- 30
- 15
- 10
- 10
- 25
- 20
Type
Multiple Choice
Practice Question
Sarah has a 800 on her credit card. What's her credit utilization rate?
A. 20% B. 30% C. 40% D. 50%
Suggested Answers
- A
- B
- C - Correct
- D
Type
Sort Into Boxes
Practice Question
Sort these credit actions by which score factor they primarily affect:
Labels
- First Box Label: Payment History
- Second Box Label: Credit Utilization
First Box Items
- Pay bills on time
- Never miss payments
- Pay before due date
Second Box Items
- Keep balances low
- Pay down debt
- Use less credit
Type
Swipe Left or Right
Practice Question
Swipe each scenario to identify whether it would help or hurt someone's credit score:
Labels
- Left Label: Helps Credit Score
- Right Label: Hurts Credit Score
Left Label Items
- Keeping credit card balance at 5% of limit
- Making car loan payments 2 days early every month
- Keeping your first credit card open for 5 years
Right Label Items
- Applying for 6 new credit cards in one month
- Missing credit card payment by 35 days
- Using 90% of available credit limit every month
Type
Multiple Choice
Practice Question
Which two factors make up 65% of your credit score and should be your main focus?
A. Credit mix and length of history
B. Payment history and credit utilization
C. New inquiries and credit mix
D. Length of history and new inquiries
Suggested Answers
- A
- B - Correct
- C
- D
