Credit Score Mythbusters: True or False
Medium-difficulty multiple-choice quiz that busts common credit score myths and teaches high-leverage behaviors to help with renting, auto loans, and first mortgages.
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6 questions · Quick play · Instant results
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Quiz Questions & Answers
Review every prompt, the correct responses, and helpful context to prep for your own run-through.
Question 1: Does checking your own credit report hurt your credit score?
Only if you check monthly
Yes — every check drops points
Only if you check two bureaus
No — soft inquiries don’t lower your score
Question 2: Will closing an old unused credit card always improve your credit score?
Only if the issuer charges fees afterward
Yes — fewer accounts always means better scores
No — closing can harm credit by reducing available credit and shortening average age
Only if the card has a balance
Question 3: Does paying off a negative item, like a collection, immediately remove it from your credit report?
Yes — but only after 30 days
Yes — payment erases the item immediately
No — payment may not remove the record but can change its status
No — nothing can ever change a collection
Question 4: If you have only one credit card and use it responsibly, will that automatically give you a high credit score?
Only if the card has no annual fee
Yes — one well-managed card is all you need
Not necessarily — score also depends on length of history, utilization, and diverse credit types
Only if the card issuer reports monthly
Question 5: Does applying for several credit cards while rate-shopping for a mortgage permanently destroy your chance at a good mortgage rate?
Yes — all hard inquiries double your interest rate
Yes — any new credit applications will permanently lower mortgage options
No — inquiries never affect mortgage decisions
No — multiple mortgage or auto loan inquiries within a short window are usually grouped, but unrelated hard pulls can lower scores temporarily
Question 6: Is it enough to focus only on on-time payments to rebuild credit after past problems?
Partly — on-time payments are crucial, but lowering utilization and addressing derogatory items matter too
No — payments don't matter after derogatory marks
Yes — payments alone will restore credit fast
Only if you also open many new accounts