Twa kɔ nsɛm atitiriw so
Log in
Sign up for FREE
arrow_back
Laabri

5.0 Lesson 2: Your Credit Report

star
star
star
star
star
Last updated about 2 hours ago
17 Nsɛmmisa
Hyɛ no nsow a efi ɔkyerɛwfo no hɔ:

Learning Objectives

Students will be able to:

  • Analyze how often credit reports are used

  • Summarize the content and purpose of a credit report

  • Analyze a credit report

  • Explain how to address errors on a credit report

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

  • 7d: Outline the process of disputing inaccurate credit report information

  • 9a: Explain how landlords, potential employers, and insurance companies use credit reports and credit scores in decision making

Warm Up
Main Activity
Wrap Up
1
1
1

Learning Objectives

Students will be able to:

  • Analyze how often credit reports are used

  • Summarize the content and purpose of a credit report

  • Analyze a credit report

  • Explain how to address errors on a credit report

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

  • 7d: Outline the process of disputing inaccurate credit report information

  • 9a: Explain how landlords, potential employers, and insurance companies use credit reports and credit scores in decision making

1
Asemmisa {{asɛmmisaAhyɛnsode}}
1a.

When you sign up for phone, TV, or internet service, the provider is likely to check your credit report. Why would they do this even though you’re not borrowing money from them?

1
Asemmisa {{asɛmmisaAhyɛnsode}}
1b.

Imagine you’re renting an apartment with a friend after high school. Your friend wants to get satellite TV but can’t because they have bad credit due to a history of late payments. They ask if you’ll sign up for it and assure you they’ll take care of the payments. How would you respond?

1
1
1
1
1
1
1
1
1
1
1
Asemmisa {{asɛmmisaAhyɛnsode}}
3a.

What are the three credit reporting agencies you would possibly need to contact to report an error on your credit report?

1
Asemmisa {{asɛmmisaAhyɛnsode}}
3b.

List the information you should be prepared to provide to a credit reporting agency to dispute an error on your credit report.

Asemmisa {{asɛmmisaAhyɛnsode}}
4.

All of the following appear on your credit report EXCEPT…

Asemmisa {{asɛmmisaAhyɛnsode}}
5.

In general, why do so many different types of companies check your credit report?

Asemmisa {{asɛmmisaAhyɛnsode}}
6.

What should you do if you find errors in your credit report?

Asemmisa {{asɛmmisaAhyɛnsode}}
2a.

This is the credit report for how many people?

Asemmisa {{asɛmmisaAhyɛnsode}}
2b.

Which statement about Lillie’s mortgage is FALSE?

Asemmisa {{asɛmmisaAhyɛnsode}}
2c.

What open accounts does Lillie T. Lane currently have?

Asemmisa {{asɛmmisaAhyɛnsode}}
2d.

What is the credit limit on Lillie’s First USA Bank credit card?

Asemmisa {{asɛmmisaAhyɛnsode}}
2e.

What was the highest balance Lillie had on her credit card?

Asemmisa {{asɛmmisaAhyɛnsode}}
2f.

What is the current status of Lillie’s First USA Bank credit card?

Asemmisa {{asɛmmisaAhyɛnsode}}
2g.

Which of Lillie’s accounts was a joint account?

Asemmisa {{asɛmmisaAhyɛnsode}}
2h.

How many months did Lillie make on-time payments for her line of credit at Astoria Federal Savings?

Asemmisa {{asɛmmisaAhyɛnsode}}
2i.

According to this credit report, how many accounts has Lillie had sent to collections?

Asemmisa {{asɛmmisaAhyɛnsode}}
2j.

When did Lillie allow an external company access to her credit report for an auto loan?