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)
