Title: Identify the significance of a credit report.
Course: Independent Living (22904-36)

Identification should include

- securing a credit report
- the components of the credit report
- the duration for which the credit report is valid
- methods for improving a credit score
- uses for the credit report
- privacy concerns regarding the credit report
- situations in which the credit report might be accessed by others
- those authorized to access the credit report.

Teacher Resources:

- Empowering Futures, One Dollar at a Time, Virginia Council on Economic Education (VCEE)
- Teen Teach-In, Virginia Events Jump$tart! Financial Smarts for Students
- Credit Reports and Scores, CFPB
- Financial Fitness, FCCLA

Process/Skill Questions:

Thinking

- What is a credit score?
- What causes low and high credit scores?
- When does one’s credit report begin?

Communication

- How do lenders interpret a credit report?
- What are the five most important factors affecting credit scores?

Leadership

- How might consumer spending habits affect a credit score?
- How does one’s credit score affect one’s life choices?

Management

- What decisions are based on a credit report?
- When and how does one dispute a credit report?
- How does one regularly check a credit report?