Financial Management Quiz

Do you effectively manage your finances and are improving your credit report score? Take the quiz below to find out, then use our free credit check to rate your credit score.

1. How do you normally pay your monthly credit card bill?
a. I take antacid, set the bill aside and wait until the very last minute to mail a check.
b. I pay the bill immediately online, so I don't have to worry about my payment getting lost; or delayed, in the mail.

2. You get another pre-approved credit card offer in the mail. What do you do with it?
a. I heave it into the trash.
b. I read the fine print carefully.

3. You find a bill and the payment is due tomorrow. You don't have the full amount available so what do you do?
a. I wait until payday and hope I don't exceeded the grace period.
b. I use what money I have and pay only the minimum amount due.

4. You are shopping online for a new car. Do you visit more than a couple web sites and let all of them pull your credit report?
a. Yes
b. No

5. You find the perfect house, but the mortgage payments will be difficult. What do you do?
a. I shoot for the stars and take the house.
b. I pass on the offer.

6. Is it every American's right to obtain a credit card?
a. Yes, because it's Federal law.
b. No, because a credit card is a privilege.

7. What do you look for in a new credit card?
a. The highest possible credit limit.
b. The lowest interest rates and penalty fees, and the longest grace periods.

8. Your credit card billing statement shows a purchase you don?t remember making. What do you do?
a. Pay it anyway, because the billing department will probably catch the mistake and credit it towards the next payment.
b. Dispute the error by sending a letter by certified mail.

9. You want to cancel one of your credit cards. How do you do it?
a. Cut it up, shred it, burn it, and dump the ashes in the trash.
b. Notify the card issuer by telephone, follow up in writing, and then check the credit report.

10. Do you have a spending plan?
a. No
b. Yes


Scoring: For each 'b' response you chose, give yourself one point.
If you had 7-10 points, you're a financial wiz.
If you had 4-6 points, you have some weaknesses.
If you had 0-3 points, read more of our financial articles!