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CREDIT REPORT REPAIRS
& LIVING WITH ROOMMATES
by Shawna Frisbee
University of Idaho

ITV SERIES RIGHT ON THE MONEY

GRADES 11 - 12

OVERVIEW

Bad debt happens to good people, the question is "How can people repair their credit, once the damage has been done?"


LEARNING OBJECTIVES

Students will be able to determine the steps in checking a credit report.

Students will be able to analyze a credit report.

Students will be able to create a plan to develop and/or improve credit history.

MATERIALS

  • VCR
  • Television
  • Computers with Internet Access
  • Paper
  • Pencils


PREVIEWING ACTIVITIES

Discussion of "Why don't people analyze all the costs of using credit cards before they make a purchase?"

 

FOCUS FOR VIEWING

To give students a specific responsibility for viewing, students will be asked to listen for and write down four ways that will help develop or improve credit history.


Viewing Activities

START the video segment when Chris asks guest Gerri Detweiler "But they find themselves in a lot of debt trouble, and then they sort of would like to get away from it and they can't?" PAUSE the video after Gerri talks about the three reporting credit bureaus.

Discuss with students how they could improve a bad credit history and what steps they should take to improve their credit rating.

START the video when Chris asks Michelle what to look for on a credit report. To give students a specific responsibility for viewing, students will be asked to listen for and write down five things they should look for when examining their credit report. PAUSE the video when Michelle says "But at least be sure that you're paying them on time."

Discuss what things you should look for when examining your credit report and the procedures for fixing errors.

 

POST VIEWING ACTIVITIES

Students will develop a financial plan on how to develop a positive credit report and report to the class. Students will also request a credit report and will need to analyze their report and what they need to do to adjust/improve their credit rating.

Students will play the Credit Card games at
http://www.themint.org/documents/parents
_teachers_cash_or_credit.htm

Students will need to keep track of purchases, expenditures and finance charges on a separate piece of paper as they play the game and report back to the class.

ACTION PLAN

Invite a credit counselor, bank officer, or loan officer into the classroom to discuss how to build a good credit report and what lending institutions are looking for in applicants.

EXTENSIONS

Additional online activities about spending and credit can be found at

Love the Idea of a Credit Card?
http://www.themint.org/documents/parents
_teachers_love_the_idea.htm

The Credit Card Mystery
http://www.econedlink.org/minute
/archive/minute_981005.html

How to Choose a credit card http://www.nice.emich.edu


For additional lesson plans and ideas relating to this topic and many others try TeacherSource at PBS Online! You will find activities, lesson plans, teacher guides and links to other great educational web sites! Search the database by keyword, grade level or subject area! Mathline and Scienceline are also great resources for teachers seeking teaching tips, lesson plans, assessment methods, professional development, and much more!


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