# Personal Finance Level 3: Credit and debt (free quiz and certificate) | Get Certified for Free

Source: https://getcertifiedforfree.com/courses/personal-finance/level-3/

Personal Finance · Level 3 of 5 · Intermediate

# Credit and debt

Credit scores, credit reports, interest, and paying debt down.

## Study notes

1. Your credit report lists your accounts and payment history. You can get free reports from Equifax, Experian, and TransUnion at AnnualCreditReport.com.
1. Payment history and amounts owed (credit utilization) are the biggest factors in common FICO scoring models.
1. Keeping card balances low relative to limits helps. Utilization is the balance divided by the credit limit.
1. Paying only the minimum on a credit card can take years and cost a lot of interest.
1. Two payoff methods: avalanche (highest interest rate first, saves the most) and snowball (smallest balance first, builds momentum).

## Quiz: 6 questions

Choose one answer for each question, then check your answers. Score 5 of 6 to pass. Then enter your name and email to download a PDF certificate and have a copy emailed to you. Answers are graded in your browser.

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