Personal finance: why should you know your credit score?

do you know your credit score

Level - BASIC

Learn about the credit score, which summarizes the repayment track record of a borrower across all lenders and loans. Watch this investor education video by Moneykraft

AUTHOR(S): Shreeja Thirani

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Do you know your credit score

Learn about the credit score, which summarizes the repayment track record of a borrower across all lenders and loans

1 2 3 4

    1.Which of the following aspects of an individual's personal finance are tracked by a credit bureau?



  • Jobs and earnings pattern
  • Loans and history of repayment
  • Assets and investment choices
  • 2.Which of the following statements is true?



  • Each loan has a different credit score
  • Credit scores are used only for home loans
  • Credit scores track loan repayment across all loans and lenders
  • 3.A defaulting borrower moves to another city and wants to take a loan from a different bank. The bank can know about his earlier default by



  • Checking with the organization where borrower works
  • Checking the loan application form carefully
  • Checking the credit report of the borrower
  • 4.Borrowing history is updated ----------



  • Monthly
  • Annually
  • On the request of the lending bank
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