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February 18, 2002: 4:25 p.m. ET

They stand between you and the best loans, but do you know what they are?


		Improve your credit score - Feb. 15, 2002


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NEW YORK (CNN/Money) - You may have heard of them, and you may know they affect whether you qualify for the best rates on loans. But do you know what credit scores really are and how often you should check yours?

Take the following short quiz and find out. Then, for more information, read about five ways to improve your credit score.

1. Your credit score measures:
a) How many credit card accounts you have.
b) How much money you owe.
c) How likely you are to repay a loan on time.
d) How many loans you've applied for.

2. When's the best time to check your credit score?
a) At least every month.
b) At least several months before applying for a loan.
c) Once every five years.
d) At least twice a year.

3. What's a key factor in determining your FICO score, one of the most widely used credit scores?
a) The ratio of your credit card accounts to your outstanding credit card balance.
b) Your income.
c) The ratio of your outstanding credit card balance to your total credit card limit.
d) Your age.

4. If you want to raise your credit score, don't:
a) Transfer your credit card balances onto a few cards and then cancel the rest.
b) Pay your bills on time.
c) Be afraid to open new credit accounts whenever a good deal comes along.

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Improve your credit score - Feb. 15, 2002

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