Title: Explain the importance of having a good credit rating.
Course: Agricultural Business Management III (18201-36) > Section: Making Consumer Choices

Explanation should include

- identifying the advantages of establishing credit
- describing the way credit is rated (point system) and the contents of a credit report
- identifying what information is included in a person’s credit record or history (e.g., income, payment records, employment record, other personal factors)
- reviewing credit rating scores and describing their implications
- describing the factors that make up a credit score
- describing ways to build credit as an authorized user on an account
- explaining how one’s credit rating affects eligibility for credit and employment
- explaining how to access one’s personal credit record prior to applying for credit, or, if denied credit, identifying reasons for a credit check
- describing steps for correcting errors in one’s credit report.

Process/Skill Questions:

- How does one establish credit?
- What factors contribute to one’s credit score?