Use relevant math vocabulary to describe dot plots, including median, mode, range, and outliers.
Common Core Math Standards
Link to all CCSS Math
CCSS.HSS.ID.A.1
Personal Finance Objectives
Describe the purpose and components of a credit report
Understand why interested parties may want to check your credit score
Explain key components of the Fair Credit Reporting Act and how it impacts lenders and borrowers
National Standards for Personal Financial Education
Managing Credit
7a: Identify the primary organizations that maintain and provide consumer credit reports
7b: Assess the value to a potential lender of the information contained in a credit report
7c: Explain how a person can get a free copy of their credit report and why this is advisable
7d: Outline the process of disputing inaccurate credit report information
OBJECTIVES & STANDARDS
Math Objectives
Represent data using a dot plot
Use relevant math vocabulary to describe dot plots, including median, mode, range, and outliers.
Common Core Math Standards
Link to all CCSS Math
CCSS.HSS.ID.A.1
Personal Finance Objectives
Describe the purpose and components of a credit report
Understand why interested parties may want to check your credit score
Explain key components of the Fair Credit Reporting Act and how it impacts lenders and borrowers
National Standards for Personal Financial Education
Managing Credit
7a: Identify the primary organizations that maintain and provide consumer credit reports
7b: Assess the value to a potential lender of the information contained in a credit report
7c: Explain how a person can get a free copy of their credit report and why this is advisable
7d: Outline the process of disputing inaccurate credit report information
DISCUSSION PROMPT: Imagine You’re The Lender
What goes into the decision to lend someone money? Discuss the following question with your classmates or with a partner.
5
Question 1
1.
EDPUZZLE: Understanding Your Credit Report
Lenders use your credit report to decide whether to lend you money. A credit report includes your personal information and credit history. Watch this video to learn more about what goes into your credit report. Then, answer the questions either in EdPuzzle or below.
1
1
2
1
1
1
1
1
1
1
1
1
1
1
1
ARTICLE: Credit Monitoring Services: Are They Worth the Cost?
In addition to checking your own credit report, you can use credit monitoring services to alert you if anything changes. These services can help you respond more quickly to identity theft or fraud. Read the article and answer the questions.
3
1
ACTIVITY: MOVE: Credit Dot Plots
A dot plot is another type of graph that you can use to represent a data set. In a dot plot, each data point is represented by a single dot. This layout makes it easy to see how data is spread out; however, it is usually only used for small data sets.
20
Question 19
19.
Question 20
20.
Question 21
21.
Question 22
22.
If someone you did NOT know well wanted to borrow money from you, what would you want to learn about them before deciding? Why?
Question 2
2.
Question 3
3.
Question 4
4.
Use the internet to find credible answers to questions on the Fair Credit Reporting Act (FCRA). For each answer, be sure to cite your source with the name of the website you used.
Here are a few sources to get you started:
A Summary of Your Rights under FCRA, Experian
Fair Credit Reporting Act: Know Your Rights, Nerdwallet
Fair Credit Reporting Act, Debt.org
What You Should Know About the FCRA, About Money
Question 5
5.
There are three main credit reporting bureaus -- Equifax, Experian, and TransUnion. How frequently can you request and receive a free credit report from each bureau?
Question 6
6.
Give 5 examples of people or organizations who can request to see YOUR credit report.
Question 7
7.
What is the maximum amount of time a negative item (late payment, missed payment, default, bankruptcy) can stay on your credit report?
Question 8
8.
Suppose you apply for an apartment, and the landlord informs you that, based on your credit report, she is not going to rent you the apartment. According to FCRA, what information must she legally provide you about that decision?
Question 9
9.
Suppose you’ve already received your free credit reports this year. Give 3 situations in which the credit bureaus would have to provide you an additional free report.
Question 10
10.
If you review your credit report and find an error, and you’re able to prove it is, indeed, an error, how long does the credit bureau have to remove the error?
Question 11
11.
Explain why someone might want to put a “red flag” on their own credit report.
Question 12
12.
Question 13
13.
Question 14
14.
Question 15
15.
Question 16
16.
_______ The website you can get your free credit report.
Question 17
17.
What 3 things can you do to monitor your credit without paying for a credit monitoring service?
Question 18
18.
Why might someone want to pay for a credit monitoring service?