Question
3. Checking your credit score yourself can drop your score A. True B. False 4. Your credit score can determine your insurance rates A True B False
Answer
4.1
(339 Votes)
Cecilia
Master · Tutor for 5 years
Answer
3. B4. A
Explanation
3. Your credit score is a numerical representation of your creditworthiness, and consists of information about current and possible loans, total available credit, and your history with credit. The Fair Credit Reporting Act allows consumers to check their credit report once a year without negatively impacting their credit score. Thus, checking your credit score yourself does not affect your score.4. Your credit score can indeed impact your insurance premiums. In most states, companies may use your credit-based insurance score to decide what you pay for insurance. However, rules vary by state and insurance company. It is best to check with your state regulator if you are unsure.