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Understanding Credit Decisions
1.
What is the lowest FICO score and the highest FICO score you can have?
2.
What happens to your interest rate when you have a low FICO score?
3.
List 2 of the 5 components that a FICO score is based on.
4.
Which component of a FICO score prevents most Americans from having a FICO score more than 700?
5.
If you increase your mortgage payment by $100 per month, on a 30 year mortgage, how many years of interest will you have saved?
6.
What is the national average interest rate for a student loan?
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7.
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