Summary
Before there's a score, there's a report. This lesson outlines what a credit report is, where it comes from, how to read it, and how to fix it.
Bellringer: Maya's Mystery Debt
- Present Maya's apartment denial over a $340 medical collection she doesn't recognize.
- Have students guess the cause, then reveal it could be a billing error, mixed file, or identity theft.
Instruction
- Walk through the four sections of a credit report, the three bureaus, and revolving vs. installment credit.
- Cover hard vs. soft inquiries, the Three C's, ECOA protections, and how to dispute an error under the FCRA.
Activity: FICO Score Pretest & Vocab
- Students complete the Master Your FICO Score pretest and vocabulary.
- If time allows, they begin the related game.
Discussion: Is the System Fair?
- Pose whether it's fair that people never opt into a credit report but are still judged by it.
- Revisit Maya's story to explore what a slow-to-fix error actually costs someone, then discuss whether a "thin file" is good or bad.
Wrap-Up & Assessment
- Name the four sections of a credit report.
- Where can you get your credit report for free?
| Est. Time | Activity | Description |
|---|---|---|
| 5 min | Bellringer: Maya's Mystery Debt |
|
| 10 min | Instruction |
|
| 15 min | Activity: FICO Score Pretest & Vocab |
|
| 10 min | Discussion: Is the System Fair? |
|
| 5 min | Wrap-Up & Assessment |
|
Lesson Prep
Master Your FICO® Score Pretest
Students will determine what they know about FICO® Scores.
Master Your FICO® Score Vocab
Study key FICO® Score vocabulary terms.
Master Your FICO® Score
Learn all about how a FICO® Score is made and how you can keep yours as high as possible.
Class Presentation
Includes a 22-slide deck with teacher notes. Present from Banzai, download a PDF, or copy it to Google Slides.
Presentations, Ready to Go
- Built-in PresentationPresent full screen, straight from Banzai
- Copy to Google SlidesMake an editable copy for your class
- Download or PrintSave as a PDF or print
- Teacher NotesSlide-by-slide guidance, printable as one handout
Financial Essentials
Intro to Debt
Debt is a tradeoff where you spend future income to satisfy a present want. In this lesson, students finish the Life Scenarios game, vocab, and posttest, and learn more about the price of debt. This includes interest, APR, and types of debt.
Credit Reports
Before there's a score, there's a report. This lesson outlines what a credit report is, where it comes from, how to read it, and how to fix it.
Time, Interest, and Growth
Time gives money more years to benefit from compounding. This principle is the foundation of the exponential growth curve seen in long-term savings.
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