Category: Credit Reports

Interactive Monday: Test Your Credit Score Knowledge

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Apr 21, 2019
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Interactive, Credit Reports, Credit Scores
Hat tip to NGPF Fellow Jill Wilson for sharing this credit score quiz with us.  What's to like about the quiz? It's short (12 questions) It's thorough: covers what factor goes into a credit score, who cares about your credit score and the cost of not having a good credit score. It's a good review after you have completed your managing credit unit.  ----------------- Here are two teacher favorites when it comes to credit score activities to engage your students: Interactive: FICO...

Question of the Day: Can you name ONE of the three most frequent ways that consumers, under age 25, establish credit?

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Feb 06, 2019
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Question of the Day, Credit Cards, Paying for College, Student Loans, Credit Reports
Answer: Credit Card (35.6%) Student Loan (19.9%) Retail Credit Card (13.7%) Questions: Why do you think that credit cards tend to be the entry point for establishing credit for so many consumers?  Almost no one in any age group establish their credit for the first time by taking out a mortgage. Why do you think that is true?  How do you think that you will establish credit?  Here's the ready-to-go slides for this Question of the Day that you can use in your...

Question of the Day: What will your credit score be after your first six months of making on-time payments?

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Jan 27, 2019
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Credit Reports, Credit Scores, Question of the Day
Answer: About 500  Students often wonder if you start high (850) and go down or start low (300) and go up. The answer is that you start with no score and only after 3-6 months will you receive a score.  Questions: Why do you think the score is so low after 6 months?  Imagine you are lending money to a stranger and they were making monthly payments to you to pay off that debt. How long into a 5 year loan would you feel comfortable that they were going to pay you back in...

FinCap Friday: How To Get Extra Credit

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Nov 01, 2018
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Credit Scores, FinCap Fridays, Credit Reports
This week your students will learn about a significant change to the credit scoring system. How will UltraFICO open the door to more borrowers? Play this week's FinCap Friday and find out: ---------------------------- Looking for more FinCap Fridays to engage your students in the current events of the day? Here are the ten others!   ...

FinCap Friday: The Credit Deep Freeze

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Sep 13, 2018
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FinCap Fridays, Credit Reports, Current Events, Credit Scores, Policy
This week's FinCap Friday focuses on the one year anniversary of the great Equifax hack (not so great if you were one of its victims) and a new regulation to help protect the minors in your class:  New to NGPF's FinCap Friday? It's a fun way to engage your students with current events and includes: A five question Kahoot! A 90 second video providing details about the current event and explaining why it matters to students A discussion prompt Activity ideas to extend the learning...

Looking to use more infographics in your classroom? Here's a few good ones to use (and the brain science behind it)

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Aug 09, 2018
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Credit Reports, Investing, Personal Finance, Savings
Do your students seem very engaged with the infographics that you are using in your lessons?  Here's the brain science behind why they have become so successful as a teaching device. Some of the more interesting factoids from this infographic (of course, it's an infographic about the power of infographics): Information overload is real: Color graphics make us 80% more willing to read: When providing directions, illustrations (or YouTube) videos are a must: ---------------------- We...

Cartoons: Why Do Credit Scores Matter?

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Jul 19, 2018
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Cartoons, Credit Scores, Credit Reports
Questions: Do you think credit scores should play a role in choosing a partner? Why or why not?  What do you think a credit score tells you about someone's relationship to money?  ---------------------------- Questions: Can employers request to see your credit score before they hire you?  Why do you think that employers would care about their employees' credit scores?  -------------------------- Questions: In your own words, what do you think is meant by cash flow? Why...

What I'm Reading This Weekend (June 9-10)

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Jun 08, 2018
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Current Events, Parent Conversations, Retirement, Credit Reports, Investing, Mortgages
Parenting The WSJ takes a good look at the overprotected American child. You probably see the impacts on the students you teach. Michelle Singletary explains why parents should have “the talk” (about credit) with their kids. Here are eight things parents can do to help their college students become financially independent. And here is what you do if your adult children want to move home. Education The New York Times looks at education spending over time.  (Hint: it...

What’s New With……Credit Management?

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May 17, 2018
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Identity Theft, Credit Cards, Credit Scores, Credit Reports, Mortgages
This second quarter update deals mostly with credit cards and credit scores, but we touch on managing mortgages and financial infidelity. Credit Cards/Score Ever wonder what to do with that credit card you never use? There is not necessarily one answer for all situations. Do you know exactly what happens when if you make a late credit card payment? How about what happens when you don’t pay off your credit card balance in full? This one might make you think twice about opening a joint...

Update: NGPF's Elite Eight (Game 1): #1 PAYBACK vs. #8 Community Credit

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Mar 25, 2018
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Interactive, Parent Conversations, Paying for College, Credit Cards, Credit Reports, Credit Scores
FINAL PAYBACK looks unstoppable as they crushed Community Credit 186-14 yesterday. Will they be tested in the Final Four? Stay tuned.  UPDATE on Monday at 9am PT Yes, you are reading this correctly: PAYBACK 151 - Community Credit 11. Looks like their starters will be extra fresh as PAYBACK appears close to punching their ticket to the Final Four.  The pretenders have left town and the field has been whittled down to 8 NGPF resources. What patterns can we discern from the...

What's New With....Managing Credit?

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Feb 16, 2018
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Credit Cards, Credit Reports, Credit Scores, Current Events
Identity Theft In the wake of the Equifax breach, many took action to protect themselves, and faced some frustration. In case you haven’t taken action yet, here is what you can do. Oh, and apparently the breach was worse than initially reported, according to Consumer Reports. Is CFPB continuing their Equifax probe? Reuters reports they are putting it "on ice."  Oops, the I.R.S. forgot to notify almost 500,000 taxpayers that their information was being used by others for employment...

Question of the Day: What percent of minors (under 18 years of age) have had their identity stolen?

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Feb 12, 2018
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Question of the Day, Credit Scores, Credit Reports, Identity Theft, Credit Cards, Article
Answer: 10% Questions: Why do you think that this happens (ID theft) so frequently to minors?  What would you do if you found out that someone was using your Social Security number to open accounts?  How can you check to make sure this hasn't happened to you?  Click here for the ready-to-go slides for this Question of the Day that you can use in your classroom. Behind the numbers (from Buzzfeed, great article that your students will enjoy since it describes...

How To Integrate Personal Finance Content Into Family and Consumer Science Courses

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Nov 15, 2017
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Entrepreneurship, Investing, Identity Theft, Credit Scores, Credit Reports, Personal Finance
A few days ago, Leah Bratcher, Financial LIteracy Program Coordinator for FCCLA reached out to us with an interesting challenge. Leah helps Family and Consumer Science teachers discover ways to integrate personal finance into their courses, which can range from child development to fashion, interior design to hospitality, and more, all while adhering to different standards. As you can imagine, finding ways to weave personal finance into such a wide variety of subjects while meeting standards can...

NGPF Podcast: Tim Talks To Steve Frederickson, Executive Chairman of PRA Group

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Nov 06, 2017
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Credit Reports, Credit Scores, Entrepreneurship, Credit Cards, Podcasts
I really enjoyed my recent conversation with Steve Frederickson of PRA Group. He just recently stepped down as CEO of PRA, a company he founded 20 years ago (Hat tip to Melissa at NGPF for connecting me with Steve) Looking back at his tenure, Steve shares the ups and downs (mostly ups!) that make entrepreneurial ventures so satisfying and so all consuming too. Steve shares that journey from developing an enduring strategy for PRA right out of the gate as a start-up, to taking the company...

Question of the Day: How much will an Excellent credit score save you on a $25,000 auto loan?

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Nov 02, 2017
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Credit Scores, Current Events, Research, Credit Reports, Question of the Day
Answer (from credit.org infographic): Over $10,000 ($10,896 to be exact) Methodology: Excellent credit score paid interest of $2,113 on a $25,000 auto loan while a Poor credit score paid interest of $13,009 on that same loan.  Thanks to NGPF Fellow, Diane Mondoro for highlighting this awesome infographic which is chock full of information. It does the best job I have ever seen at answering the question about the value of a good credit score by showing how interest rates vary by credit...