Test Your Credit Knowledge

MSN Money has a short credit quiz sponsored by Experian.  It tests your knowledge on general credit subjects such as

• Who are the three major credit reporting agencies?
• Can your employer pull your credit report without your permission?
• What information is used to calculate your credit score?
• What happens to your credit report when you marry?

Upon completion, the quiz provides the user with a score and the correct answers together with a brief, but helpful, explanation of why the answer chosen is correct.  For example, one question posed is “under what circumstances are consumers entitled to a free credit report?”  The answer explanation reads “The Fair and Accurate Credit Transactions Act (FACT Act) allows consumers to get one free comprehensive disclosure of all of the information in their credit file from each of the three national credit reporting agencies once every twelve months through a Central Source. Consumers are also entitled to a free credit file disclosure if they: 1) have been denied credit, insurance or employment as a result of their credit report, 2) believe Identity Fraud has resulted in inaccuracies on their report, 3) will be applying for unemployment or 4) are receiving welfare assistance. The Fair Credit Reporting Act mandates that consumers who have been denied credit have the right to a free credit file disclosure.”

Check it out…you may be suprised what you don’t know about credit!