Credit Reports – You Thought Your Report Card Was Important


Students read informational text and discuss the advantages and disadvantages of using credit and the importance of maintaining a good credit history. Students read a scenario about a young person’s use of a credit card and answer questions regarding repayment. Students learn about credit history, credit reports, and the three credit bureaus. Students read a scenario and write an essay addressing the key points of the lesson.

Objectives

Students will

  • define credit and creditor,
  • define interest and interest rate,
  • compare the advantages and disadvantages of using credit,
  • identify the three credit bureaus,
  • explain the importance of maintaining a good credit history, and
  • identify features on a credit report.

 

Time Required

60-75 minutes

 

Concepts

  • Credit
  • Creditor
  • Credit cards
  • Credit history
  • Credit report
  • Interest Interest rate

 
Whiteboard (SMART/notebook)
Whiteboard (ActivInspire/flipchart)
PowerPoint (pptx)

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