Category: Credit Scores

NGPF Podcasts: Demetria Gallegos of WSJ on 9 Myths About Credit Scores

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Jan 10, 2020
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Credit Scores, Podcasts
Everything you ever wanted to learn about credit scores and more. Discover the myths, the realities and ways that you can improve your credit score in this informative podcast with Demetria Gallegos of the Wall Street Journal. Enjoy!    Details: 0:00~1:28 Introduction 1:28~6:10 Utilizing a Roth IRA 6:10~9:05 Learning about money growing up  9:05~11:47 Financial lessons learned from raising children 11:47~14:14 Myths about credit scores 14:14~15:08 Using a secured credit card...

QoD: You're new to credit and you don't pay your credit card bill for months. It gets sent to a collections agency. How much will your credit score decline?

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Jan 08, 2020
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Credit Scores, Question of the Day, Credit Cards
Answer: 224 points (from 599 to 375) Explanation: Your score sank 224 points. A credit card in collections means your credit score is now in the high-300s.  Questions: Why do you think not paying your credit card bill for months has such a big impact on someone who is new to credit? What do you think are the reasons that people can’t pay their credit card bills? Identify at least 3 reasons. What are strategies you can come up with to make sure that you are always in a...

Best of 2019..NGPF's Questions of the Day

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Dec 25, 2019
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Question of the Day, Behavioral Finance, Budgeting, Credit Cards, Credit Scores, Current Events, Investing, New Products
If you receive our daily blog updates, you know that we produce a Question of the Day every Mon-Thursday during the school year..which amounts to about 160 questions. Here are the 10 questions that garnered the most pageviews in 2019. See how many you can answer correctly: What's the average credit score needed to rent an apartment?  What percent of people age 75 and older are still working? What percent of U.S. millionaires are professional athletes? What percent of 18-34 year olds are...

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...

Last Reading List for 2019!!

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Dec 20, 2019
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Personal Finance, Budgeting, Credit Scores, Investing, Paying for College, Taxes, Retirement
Many of the articles this week have a common theme: reflecting on the 2010’s as the decade comes to a close. Wishing you all a joyful holiday season and hope you enjoy your well-deserved break!   Personal Finance Do you think the Social Security Administration should mail out statements annually, or let people log on and check themselves? (WAPO) Time again for New Years Resolutions: Here is a list from AICPA of 20 things you should consider doing to keep your financial life in order....

Chart of the Week: What's the relationship between credit card balances and credit scores?

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Nov 20, 2019
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Chart of the Week, Credit Cards, Credit Scores
Definitely some surprises here...   From Experian, State of Credit Cards:    Questions:  Those with _______________ credit scores have the highest credit card balances while those with ______________ credit scores have the lowest credit card balances.  What has been the overall trend with credit card balances for all credit scores since 2011?  Do you think that taking out more credit on a credit card is a sign of consumer optimism or pessimism?  Consumers...

Activity idea: How will this impact my credit score?

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Nov 18, 2019
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Credit Scores, Activities
This activity was adapted from a recent WSJ article (sub. required) about credit scores. The activity takes students through scenarios and students predict how each one will impact their credit score. What becomes evident quickly is that for consumers with limited credit histories, early missteps can have a dramatic negative impact on credit scores.  Enjoy! ...

QoD: You're new to credit and miss a payment on your credit card. How much will you credit score decline?

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Nov 10, 2019
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Question of the Day, Credit Scores, Research
Answer: 131 points (from 599 to 468) Explanation: Your score sank 131 points. As someone who is new to credit, you have the most to lose from a missed payment. This mistake will move you from Fair to Poor and make future credit more costly or more difficult to obtain. Questions: Why do you think a late payment has such a big impact on someone who is new to credit? What do you think are the reasons that people make late payments on their credit card? Identify at least 3 reasons. What are...

Reading List for October 25-27

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Oct 25, 2019
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Investing, Financial Literacy, Economics, Credit Cards, Credit Scores, Career
Investing We will start this week’s list with this mind-blowing headline: “Tesla overtake GM as most valuable automaker.” (Reuters) Comparing today’s IPO environment (the “Not-Com Bubble?”) to the “dot-com” bubble of 2000. (The Atlantic)   Financial Literacy A look at programs that bring experiential, hands-on learning about money into the classroom. (Reuters) The New York Times reviews three of the most popular personal finance books....

QoD: Order these based on which are most to least important to millennials: Instagram likes, credit scores, YouTube followers.

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Oct 16, 2019
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Question of the Day, Credit Cards, Credit Scores, Research
Hat tip to Beth Tallman for sharing this press release that led to this question of the day.    Answer: Credit Scores (59%) Instagram followers (48%) YouTube followers (40%) Here's the complete results:  Questions: Why is it important to increase your credit score?  Looking at the list in the chart above, which of these ratings/scores will have a financial impact? Why do you think that so many people would place higher value on increasing their social media likes...

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...