Intro to Credit Scores

Lesson: 6.3 Intro to Credit Scores: 9-12

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https://credit.org/blog/all-you-need-to-know-about-credit-scores-infographic/

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Open Ended Question

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What percent of Americans know their credit score? Are
you in that group?

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Please enter your answer here.

Open Ended Question

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At what credit score range do you think it’s unlikely that banks
would offer you a loan or credit card?

Lesson: 6.3 Intro to Credit Scores: 9-12

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Draw It

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Poll

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Say you’ve got a credit score of 750, and you miss one credit card payment. Will this

impact your credit score MORE or LESS than if your score was 650?

More

Less

The same

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Open Ended Question

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If you have a credit score of 750, and you miss one credit card payment, this will impact
your credit score MORE than if your original score was 650. Why do you think this is

the case?

Lesson: 6.3 Intro to Credit Scores: 9-12

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What is a Credit Score? Kal Penn Explains | Mashable

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Quiz

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What is the scale for minimum to maximum possible
credit score?

300–690

0–300

0–850

300–850

Lesson: 6.3 Intro to Credit Scores: 9-12

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Do you ideally want to have a HIGH credit score or LOW?

High

Low

Either is fine.

Lesson: 6.3 Intro to Credit Scores: 9-12

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Open Ended Question

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Payment history and total debt, combined, comprise 65% of
your score. Why do you think it’s so high?

Lesson: 6.3 Intro to Credit Scores: 9-12

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Open Ended Question

Lesson: 6.3 Intro to Credit Scores: 9-12

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Does the method for calculating credit scores seem fair
to you? Why or why not?

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https://www.newyorkfed.org/data-and-statistics/data-visualization/community-credit-profiles/index.html#inclusion/credit_quality/pct_ce_prime

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Open Ended Question

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What states have the highest percent of their credit
economy with prime credit scores?

Lesson: 6.3 Intro to Credit Scores: 9-12

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Open Ended Question

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What state in the country has the highest percent of
their credit economy with subprime credit scores?

Lesson: 6.3 Intro to Credit Scores: 9-12

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Open Ended Question

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What challenges might people living in a county or
state with a high concentration of subprime scores be
facing as a result of the low credit scores?

Lesson: 6.3 Intro to Credit Scores: 9-12

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Open Ended Question

Lesson: 6.3 Intro to Credit Scores: 9-12

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As you scroll over different states, what pattern(s) do
you notice? What might be a cause of this distribution?

Lesson: 6.3 Intro to Credit Scores: 9-12

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Open Ended Question

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How do credit scores in your county compare to those
of your state and the nation?

Lesson: 6.3 Intro to Credit Scores: 9-12

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Draw It

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Open Ended Question

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What do you think Sam’s credit score is (from a range of 300-850)?

Lesson: 6.3 Intro to Credit Scores: 9-12

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Draw It

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Draw It

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Open Ended Question

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What do you think Jessica’s credit score is (from a range of 300-850)?

Lesson: 6.3 Intro to Credit Scores: 9-12

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Draw It

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Draw It

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Open Ended Question

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What do you think Danielle’s credit score is (from a range of 300-850)?

Lesson: 6.3 Intro to Credit Scores: 9-12

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Draw It

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https://www.consumerfinance.gov/ask-cfpb/where-can-i-get-my-credit-score-en-316/

Lesson: 6.3 Intro to Credit Scores: 9-12

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https://www.nerdwallet.com/article/credit-cards/credit-cards-give-free-fico-scores

Lesson: 6.3 Intro to Credit Scores: 9-12

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Open Ended Question

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What’s the catch with many services promoting a “free credit score”?

Lesson: 6.3 Intro to Credit Scores: 9-12

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Open Ended Question

Lesson: 6.3 Intro to Credit Scores: 9-12

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How could you find out whether your credit card company or loan service

provider offers free credit scores?

Lesson: 6.3 Intro to Credit Scores: 9-12

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Open Ended Question

Lesson: 6.3 Intro to Credit Scores: 9-12

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Credit card companies fall into three groups: those who offer credit scores to everyone,
those who offer to cardholders, and those who do not offer credit scores. Why do you

think there’s such variation?

Lesson: 6.3 Intro to Credit Scores: 9-12

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Quiz

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All of the following are factors that affect your credit score EXCEPT:

Payment history

New types of credit

Whether your credit is with Visa or Mastercard

The amounts you owe on your different lines of credit

Lesson: 6.3 Intro to Credit Scores: 9-12

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Which of the following actions will likely DECREASE your credit score?

Requesting a copy of your credit report

Opening new checking and savings accounts at a different bank

You are 3 months late paying your student loan bill

You lose your job, and it takes 4 months to find a new one

Lesson: 6.3 Intro to Credit Scores: 9-12

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What does it mean to have “prime credit”?

You have a credit card with an Amazon Prime account

You have a credit score of 720 or above

You pose the most risk to lenders

You have a credit score below 400

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