Category: Credit Reports

What's New With Managing Credit (2021)

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Aug 14, 2021
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Credit Cards, Credit Reports, Credit Scores
Consumer debt rebounded in the second quarter of this year after falling off during the pandemic. Much of this recent activity was driven by mortgages. Credit card debt is up a bit, but still $140 billion below December 2019 levels. (Reuters) Many are still struggling to pay their balances, and have seen credit limits decreased and accounts closed. (ABC7news)   BNPL (Buy Now, Pay Later). With that as background, the credit management tool talked about most in the news in recent months has...

Best of 2020: Most Visited NGPF Unit Pages

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Dec 23, 2020
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FinCap Friday, Credit Cards, Credit Reports, Investing, Math, Credit Scores, Savings, Paying for College
Our Unit Pages are the most visited pages on the NGPF website, which had over 5 million pageviews in 2020. Why are these pages so popular? Teachers tell us it's because they can see all NGPF resources on a given topic (unit) on ONE page. So, whether you are looking for 45 or 90 minute lessons or just individual resources (activities, projects, FinCap Fridays, questions of the day, case studies or math activities), you can find them on the unit page.  Here were the unit pages that...

Best of 2020...NGPF Arcade Games

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Dec 20, 2020
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Paying for College, Interactive, Credit Reports, Investing, Budgeting
2020 saw the release of two new games to the NGPF Arcade: Money Magic in January and The Bummer! Game in October. The game developers, McKInney, continue to add to their medal count: The investment game STAX was named a 2020 Webby winner in the Public Service, Activism, and Social Impact category Shady Sam collected a Wood Pencil at this year’s D&AD Awards, which honor the world’s best in advertising and design category 2019 saw PAYBACK win a Webby in the Education...

EdPuzzle Thursday: Debt Collectors

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Oct 28, 2020
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EdPuzzle Thursday, Credit Reports, Credit Scores
EdPuzzle is a great platform to test for knowledge while students watch a video and learn remotely. We will be releasing new EdPuzzle videos here on the blog each week so that your students can answer questions that are directly embedded within engaging videos.  This week's EdPuzzle video titled "How to Deal with Debt Collectors" discusses the four levels of debt collections and strategies for getting out of debt at each level.    Interested in more EdPuzzle videos? Visit...

Reading List for September 11-13

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Sep 11, 2020
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Economics, Investing, Credit Reports, Paying for College
Economics A majority of young adults (52%) live with parents for the first time since the Great Depression (graph at bottom of post). (Pew Research) Real Estate: “Booming” Zoom towns and “Gloomy” urban rental markets. The statistic above may explain some of the “gloom.” You will find some interesting statistics in this one. (NPR) Unemployment: New jobless claims settle down at a still, unprecedented rate of 884,000. And 839,000 applied for the Pandemic...

What's New With Managing Credit - 2020

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Aug 06, 2020
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Credit Reports, Credit Scores, Credit Cards
How is the pandemic impacting credit scores? For starters, 5 million student loan borrowers saw their credit scores drop after the CARES Act allowed (Federal) borrowers to defer payments with no interest and no penalty until September 30 (6 months). The loan servicers were supposed to report to the credit bureaus that $0 was owed and paid. Great Lakes reported only that payments were deferred, and several of the credit scoring agencies dinged the borrowers’ scores. Now they have to follow...

Question of the Day: How often do people check their credit scores?

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Apr 29, 2020
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Credit Scores, Question of the Day, Credit Reports
Answer: Every few months is the #1 answer. Questions:  Why is it a good idea to check your credit score and report on a regular basis? What are some of the repercussions of NOT checking your credit score regularly? Do you think that people who check their credit score on a regular basis tend to have higher scores? Your friend says “you only need to check your credit score just before you need to borrow money to buy a car or a house.” Do you agree or disagree with his...

Question of the Day: How often do the credit reporting agencies (Experian, Equifax and TransUnion) allow consumers to check their credit report for free?

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Apr 21, 2020
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Credit Reports, Question of the Day, Credit Cards, Current Events
Answer: Weekly Questions:  These credit reporting agencies typically allow consumers to check their reports annually for free. Why do you think they are now offering to let consumers check on a weekly basis? Given the current economic challenges, what do you think happens to a consumers ability to pay off their debts (e.g., student loans, home loans, credit cards, auto loans)? Click here for the ready-to-go slides for this Question of the Day that you can use in your classroom. Behind...

Question of the Day [Updated]: What's the average monthly payment for a new car purchased in 2019?

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Mar 18, 2020
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Question of the Day, Credit Reports, Purchase Decisions
Answer: $554 Questions: When do you expect to buy your first car? Will you buy new or used? Explain your answer. Do you think that $554/month for a car payment is reasonable? Why or why not? What is the trend in monthly payments for new cars over the last five years? Click here for the ready-to-go slides for this Question of the Day that you can use in your classroom. Behind the numbers (Credit Karma):  Recent data indicates that new-car prices have gone up — by 2.3% from March...

Question of the Day: What’s the average credit score for 18- to 24-year-olds?

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Mar 16, 2020
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Question of the Day, Credit Reports, Credit Scores
Answer: 630 Questions: Why are credit scores important? Why do you think 18- to 24-year-olds have the lowest credit scores? What is the relationship between age and credit score in this chart? Why do you think this relationship exists? What might be some of the reasons? Click here for the ready-to-go slides for this Question of the Day that you can use in your classroom. Behind the numbers (Credit Karma): Our Credit Trends show you how you compare to other Credit Karma members. See where you...

Question of the Day: Rank order from most to least prevalent these credit products used by Gen Z (18-24): Student Loan, Auto Loan, Credit Card.

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Feb 05, 2020
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Credit Cards, Question of the Day, Student Loans, Credit Reports
Answer: Note: Private label = store credit card Questions: What is your current attitude toward credit products?  Do you anticipate using any of these products? If so, at what age do you think you will start using them?  Describe what it means to use credit products responsibly.  Click here for the ready-to-go slides for this Question of the Day that you can use in your classroom. Behind the numbers (TransUnion research): Many younger consumers receive smaller credit limits...

QoD: What is the interest rate differential on car loans between those with bad credit and those with best credit?

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Feb 04, 2020
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Credit Scores, Question of the Day, Credit Reports
Answer: 4.4% vs. 16.7% (12.3% difference) Note: APR = Annual Percentage Rate (a.k.a. Interest Rate) Source: MyFICO Loan Savings Calculator as of 1/31/2020 (From NGPF Activity: Impact of Credit Score on Loans)  Questions: Why do you think that those who struggle with managing credit pay higher interest rates when they need a loan?  Looking at the column, TOTAL Interest Paid, how much more is someone with a 580 credit score paying in interest compared to someone with a 720 credit...

Best of 2019: Most Visited Unit Pages

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Dec 30, 2019
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Checking Accounts, Paying for College, Credit Cards, Credit Reports, Career, Investing, Insurance
 Our Unit Pages are the most visited pages on the NGPF website. Why? It provides teachers with all of the NGPF resources available on a given topic (unit) on ONE page. So, whether you are looking for 45 minute lessons or just individual resources to supplement your existing lesson, you can find them on the unit page.  Here were the unit pages that received the most page views: Checking Budgeting Taxes Types of Credit Investing Career Paying For College Saving Insurance  Managing...

NGPF Podcast: Rod Griffin on the current landscape for credit reports and credit scores

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Dec 20, 2019
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Podcasts, Credit Reports, Credit Scores
If you want to learn about credit scores and credit reports, there is no better teacher than Rod Griffin of Experian. Attend this webinar and you will learn how credit scores are determined, the educational tools available on the Experian website and recent changes that are helping to boost scores in certain situations. Enjoy!  Details:  0:00~0:57 Introduction 0:57~3:41 Rod’s role at Experian and the importance of teaching personal finance 3:41~4:59 The increase in ways for...

Have you seen the new "What's New With _________?" posts?

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Aug 31, 2019
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Current Events, Credit Reports, Index Funds, Investing, Credit Cards, Checking Accounts, Career
We all know that things are always changing in the world of Personal Finance. We bring you a weekly reading list of news related to Personal Finance, Economics, and other topics relevant for teachers, but what if you want to hone in on what’s been happening in just one topic? This year, the “What’s New With” series of blogs is a bit different than in the past. We are pulling in fewer articles on each topic, but going into more depth within the blog to explain what has...