Category: Credit Scores

4 Infographics to Start the School Year

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Sep 12, 2019
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Credit Cards, Credit Scores, Investing
Infographics to start the school year September 2019   PRINTABLE INFOGRAPHICS FOR 2019-20 NGPF has partnered with Visual Capitalist to bring you a series of infographics explaining key topics in personal finance. Each one delivers personal finance concepts in a compelling way, including text to read, graphs to interpret and questions to answer. Hang these in your classroom to reinforce student...

Question of the Day: When a couple takes out a loan, which credit score does the lender use?

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Sep 03, 2019
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Question of the Day, Behavioral Finance, Credit Scores, Mortgages
Answer: The partner with the lower score Questions: How do you think having different credit scores can affect a relationship?  How would you feel… being the only spouse listed on the mortgage (the home loan) because of a high credit score being the spouse left off the mortgage because of a low credit score Click here for the ready-to-go slides for this Question of the Day that you can use in your classroom. Behind the numbers (Zillow):  When applying...

What's New With......Credit Reports and Scores?

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Jul 15, 2019
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Credit Reports, Credit Scores
 More data, more control Far and away the biggest development in the area of credit reporting and credit scores so far in 2019 has been the introduction of a new program from Experian, and the announcement of another one from Fair Isaac Corporation. Both programs incorporate a broader array of metrics to give a clearer picture of a person’s default risk. Interestingly, the two companies are using the same “financial data access and insights “company, Finicity, to drive the...

Reading List for June 14-16

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Jun 14, 2019
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Career, Investing, Credit Scores, Cryptocurrencies, Financial Literacy, Parent Conversations
Careers Here is a fun one! Take a look at these wacky job titles. It might be fun to have your students guess what each one might mean! (Indeed.com) Forbes provides another list – this time it is the best employer in each state. Can you guess the best employer for your state? (Forbes) Managing Credit This article explains how smart use of a secured credit card can help you build or boost your credit score. Now Amazon is getting into this game. (NYT) "The Financial Health Network...

Interactive Monday: Are You A Credit Score Guru?

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Jun 09, 2019
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Interactive, Credit Cards, Credit Scores
Thanks to Brian Page for finding this interactive and developing this set of reflection questions to accompany it. Interactive: Up My Score: Million Dollar Challenge Cheat Sheet: Adobe Flash Player is required There are four skill levels players should play in order: Clueless, Consumer, Expert, UpMyScore Guru Each level requires the player to respond correctly to 15 questions As you can see from the question dashboard: The player has 120 seconds to answer each question The player chooses from...

QoD: What age group has seen the greatest increase in credit scores since 2008: 18-21 year olds, 22-35 year olds or consumers 72 and older?

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Jun 03, 2019
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Credit Scores, Question of the Day, Research, Credit Reports
Answer: 18-21 year olds saw an increase of 23 points in the past decade.  Credit score changes since 2008 18-21 year olds: 23 point increase to 639 in 2018 22-35 year olds: 15 point increase to 644 72 and over: 40 point drop to 732 Questions: The CARD Act passed by Congress in 2009 reduced teen access to credit cards. What impact do you think this had on credit scores for 18-21 year olds since it passed?  What relationship do you see between age and credit scores? Why do you think...

QoD: Which credit score band has the highest percentage of people: 670-739, 740-799, 800-850?

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May 13, 2019
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Question of the Day, Credit Scores, Research
Answer: 670-739 with 21.5% of people in that range Questions: What are some of the disadvantages of having a low credit score? What are some advantages of having a high credit score? Why do lenders use credit scores? How is this information helpful in running their business? What is your strategy to develop a high credit score?  Here's the ready-to-go slides for this Question of the Day that you can use in your classroom. Behind the numbers (Financial Samurai): Your credit score ranges...

QoD: Who has the highest credit score between the ages of 18 and 30?

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Apr 21, 2019
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Credit Scores, Research
Answer: 18 year olds with average FICO score of 713 Questions:  Based on the chart above, why do you think that 18 year olds have the highest credit score among 18-30 year olds? Between what two ages do you see the sharpest drop? What do you think happened to cause this drop?  What are steps that you can take to have a high credit score when you are 18?  Here's the ready-to-go slides for this Question of the Day that you can use in your classroom. Behind the numbers (from...

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...

QoD: What percent of credit card applications are declined?

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Mar 25, 2019
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Question of the Day, Credit Cards, Credit Scores, Research
Answer: 14.4% Questions: Do you think this number is higher or lower for 18-24 year-olds? Why? Why do you think are the reasons that consumers applications for credit are turned down? How do you think this percentage has changed since the Great Recession? Do you think banks and other lenders change their criteria over time as they determine who to/not to lend to?  Here's the ready-to-go slides for this Question of the Day that you can use in your classroom. Behind the numbers (from Value...

True or False. A parent can place a credit freeze on a minor under the age of 16 to protect against ID theft.

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Mar 19, 2019
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Question of the Day, Credit Cards, Credit Scores
Answer: TRUE Questions: What do you think a credit freeze does?  Why would you want to freeze your credit before you even have a credit card or other form of credit? Would you ask your parents to freeze your credit? Why or why not?  Here's the ready-to-go slides for this Question of the Day that you can use in your classroom. Behind the numbers (Federal Trade Commission): The new law also lets people like parents, guardians, and representatives acting on behalf of a young person in...

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...

Best Of 2018...NGPF Video Library

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Dec 27, 2018
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Behavioral Finance, Video Resource, Compound Interest, Credit Scores, Paying for College, Budgeting
Looking for videos to supplement your existing lessons? Here's a few of teacher favorites as measured by click data in our Video Library. Drumroll please...top 10 picks for 2018: 10. The Pain of Paying from Dan Ariely of Duke University 9. Fighting the Financial Pitfalls of the Supermarket from PBS Digital's Two Cents 8. What's A Credit Score? from Kal Penn Explains 7.Why We Crave What's Cool from PBS NewsHour 6. Can I Afford It? from CNBC 5. Battle Between Your Present and Future Self from...

FinCap Friday: How To Get Extra Credit

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Nov 01, 2018
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Credit Scores, FinCap Friday, 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!   ...

Reading List for October 27-28

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Oct 26, 2018
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Economics, Investing, Credit Scores, Current Events
Economics Have real home prices entered a cyclical downturn? What does that mean? (Bloomberg) What impact is the limitation on SALT (State and Local Property Tax) deductions having on the housing market, especially in the Northeast? I’ll give you one guess. (Bloomberg) The New York Times "Upshot" takes a look the mystery of today’s low wage growth in spite of very low unemployment. NBC News examines whether people are better off economically since 2016. Unemployment is low, but...