Take the ‘Credit Score Quiz’ to learn more about this important number

Thursday, December 10, 2020

 

When it comes to your credit history, what you don’t know may hurt you.

Your past use of credit informs the three-digit number known as your credit score. A lack of awareness about the importance of credit scores may limit your access to credit (such as a car loan, credit card or mortgage) and subject you to higher interest rates and other financing costs when you apply for credit. That means, for example, that a borrower with a low score could pay thousands more in interest over the life of a typical five-year car loan than a consumer with a high score.

Want to test your knowledge AND learn more about credit scores?

Our friends at the Consumer Federation of America and VantageScore developed an online quiz to help you learn about credit scores and ways to improve your personal score. In a recent poll of consumers, these organizations found that at least a quarter of low-income people surveyed (the very ones that can least afford to pay higher interest rates and fees) are far more likely than their higher-income peers to say they don’t understand credit scores.

Click here to take the 12-question quiz at the CreditScoreQuiz.org website (no log-in or personal information is necessary). The quiz doesn’t take long, and you’ll learn crucial information to help you tackle improvements in your own score.

Use the links at the top of this email to share the quiz with family, friends, clients and co-workers to help the widest possible number of people gain this important know-how!

 

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