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Nathan Rufty

How Do Credit Scores Work: Take the Credit Score Quiz!

Saturday, April 28, 2012 - Article by: Nathan Rufty - Mountain West Financial, Inc - Message

How Do Credit Scores Work: Take the Credit Score Quiz!

Credit scoring is that mysterious number that is assigned to your when you apply for a mortgage, a car loan and your insurance company even runs one to determine your premium amounts.

So, there's a new website, created by the Consumer Federation of America and Vantage Score Solutions if you'd like to know how credit scoring works.

CreditScoreQuiz.org

Thousands of people have taken the quiz--with the average score of 60%. People between the ages of 34 to 45 got 67% right and people with income over $100,000 got 66% correct answers. Consumer with lower income and the elderly scored lower. They just don't use credit enough to know how the scores affect them.

The quiz has 25 questions -- and the website will give you the answer to those questions that you missed.

Didn't find the answer you wanted? Ask one of your own.

Get an answer
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