Title: Identify the influence of a credit report.
Course: Independent Living (22904-36) > Section: Managing Personal and Family Finances

Identification should include

- 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 issues regarding the credit report
- situations in which the credit report might be accessed by others
- those authorized to access the credit report.

Process/Skill Questions:

Thinking

- What is a credit score?
- What do you think causes low and high credit scores?

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?

Management

- What decisions are determined based on a credit report?

Teacher Resources:

- Educator Toolkit for 2011 National Financial Capability Challenge, U.S. Department of Education (https://www.ed.gov/category/keyword/educator-toolkit-2011-national-financial-capability-challenge)
- Virginia Council on Economic Education (https://vcee.org/)
- Virginia Jump$tart Coalition for Personal Financial Literacy (https://www.jumpstart.org/who-we-are/states/virginia/)