TRUE OR FALSE: 1. Always paying cash is helpful in establishing a high level of

ID: 2758669 • Letter: T

Question

TRUE OR FALSE:

1. Always paying cash is helpful in establishing a high level of creditworthiness.

2. Credit reports contain non-discriminatory information.

3. Credit reports contain non-discriminatory information.

4. The FACT Act of 2003 established the website www.creditreporting.com for consumers to check their credit report for free.

5. Understanding how credit works and how it relates to you is important for many aspects of your life.

6. Bounced checks that have not been taken through the court system will show up on your credit reports.

7. It is 100% safe to buy things online from any vendor.

8. Too many hard inquiries in a short amount of time can hurt your credit.

1) FALSE, Alwayse paying cash may affect credibility of the business and working capital shortage

2. TRUE, Credit reports contain non-discriminatory information.

3. TRUE, Credit reports contain non-discriminatory information.

4. TRUE, To get onefree credit report from each of the three national credit bureaus every 12 months

5. TRUE, understanding of credit related aspects important in the cuurent life

6 TRUE

7 FALSE, Online purchase is not 100% safe. There are some bad incidents while making online shoping

8.TRUE,Too many hard inquiries in a short amount of time can hurt your credit.

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