Karen M. Harris of the Pocono Record recently asked me to collaborate with her on a quiz to measure your credit savviness. Check it out and see how you do!
1. Are you on time with your debt payments?
2. What is your ratio of credit used vs. credit available? (Example: Your total credit limits on all cards equals $20,000. You have $2,000 total charged on all cards. This is a 10 percent ratio.)
3. How old is your oldest credit account?
4. How old is your newest credit account?
5. How many credit cards or loans have you applied for in the past year?
6. Do you charge most of your purchases each month, for points or other perks?
7. Have you checked your credit report recently?
8. Are you a co-signer on anyone else’s account?
9. Do you have a foreclosure, bankruptcy or short sale in your credit history?
10. Have you closed any credit card accounts?
11. Do you have loans other than credit cards?
Get the answers here.