Susan has always maintained an excellent credit rating over the years. She has an annual income of $63,000, has lived at her current residence thirteen years, and has worked at the same job for eight years. Susan works in a clerical position, has two credit cards and maintains two bank accounts. Susan is very conservative and has all of her savings ($12,000) in a NOW account at her local bank. One of her credit cards has a balance of $550 and has an APR of 23%. Susan has been making monthly minimum payments on the credit card. Out of curiosity she would like to know how her credit card companies judge her creditworthiness and what she can do to improve her financial situation.
-Susan has never seen a copy of her credit report. Which of the following is NOT a credit bureau?

Question

Quizplus · Accepted Answer

Expedia is a travel booking website and is not a credit bureau. The three main credit bureaus are Experian, TransUnion and Equifax.

To improve her financial situation, Susan should aim to pay off the balance on her credit card with the high APR as soon as possible to avoid accruing interest charges. She should also consider diversifying her savings by investing in options such as mutual funds or stocks instead of keeping all her savings in a low-interest NOW account. Additionally, she should check her credit report regularly to ensure there are no errors or inaccuracies that could negatively affect her credit score.

Susan Has Always Maintained an Excellent Credit Rating Over the Years