What is the primary function of a credit score?

"To reflect an individual's overall wealth" "To determine eligibility for government benefits" "To assess a borrower's creditworthiness" "To gauge an individual's spending habits"

Which of the following actions is widely believed to negatively impact a credit score, but actually doesn't?

"Regularly checking one's own credit score" "Carrying a large balance on a credit card" "Applying for multiple loans in a short period" "Making late payments on credit card bills"

What is the relationship between income and credit score?

"Higher income guarantees a good credit score" "Income is a direct factor in credit score calculation" "Credit score is irrelevant for high-income earners" "Income does not directly influence credit score"

Which type of loan does NOT impact a credit score?

"Car loan" "Student loan" "Home loan" "None of the above"

What is the impact of closing a credit card on a credit score?

"It always improves the credit score" "It has no impact on the credit score" "It can potentially lower the credit score" "It depends on the credit card limit"

Is a low credit score a guaranteed reason for loan rejection?

"Yes, a low credit score always leads to loan rejection" "No, other factors are considered besides credit score" "It depends on the type of loan being applied for" "Only if the credit score is below a certain threshold"

What is the main misconception about carrying a balance on a credit card?

"It improves credit utilization ratio" "It leads to higher interest payments" "It boosts the credit score" "It has no impact on credit score"

What is the primary factor determining creditworthiness based on the provided text?

"Employment history" "Investment portfolio" "Repayment history" "Marital status"