Credit Analysis

Introduction | Staying Out of Debt | Credit Cards | Credit Scores | Buying a Car | Review


Good credit is a necessity in our economy today, therefore it is imperative that you understand how it works and how to obtain it. There are times when people need to borrow money. For example, most people would have a difficult time buying a vehicle without a car loan or a new home without the assistance of a mortgage loan. U.S. consumers racked up an estimated $51 billion worth of fast food on their personal credit and debit cards. That is equal to 10.2 Billion Big Mac meals, 3 billion pounds of fries and 1.7 billion gallons of coke (Delray Credit Counseling). According to, the average card owner in America had 3.7 cards, down from 4 in 2001. The average millennial only had 1.57 credit cards. NerdWallet reported that in 2019, the average household with any kind of debt (including mortgages) owes $136,643, down from $142,122 in 2008.

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What is credit?

Assignment: What is Credit Review? Questions

Directions: After watching the video on What is Credit? answer the review questions in itsLearning.

Staying Out of Debt

Take Charge of Credit Cards

Join Code: MWNVJ

Assignment: Take Charge of Credit Cards Nearpod

Directions: Complete the Nearpod lesson. You must join the lesson using the join code MWNVJ. If you do not join and use your first and last name, you will not receive credit for this assignment. You must complete all exercises and quizzes contained within the lesson.

Assignment: Students and Credit Cards Discussion

Directions: College is a time when many young people are first introduced to credit cards. We hit the street to find out how colleges students are handling credit. Watch the following video:

After hearing the opinions of the students in this video, do you think YOU would want a credit card in college? Why or why not? Compose your response into a thread on the discussion board and then reply to at least two classmates to continue the collaborative discussion.

Assignment: Credit Card Laws Web Quest

Directions: Use the internet to find credible answers to questions on these 3 major credit card laws that apply to US consumers. For each answer, be sure to cite your source with the name of the website you used. Download the Credit Card Laws Web Quest worksheet. Submit to itsLearning for grading.

Credit Score

Your credit scores determine a lot more than the loans you can get and the interest rates you pay. Insurers use credit scores to set premiums for auto and homeowners coverage. Landlords use them to decide who gets to rent their apartments. Credit scores determine who gets the best cell phone plans and who has to make bigger deposits to get utilities. You should know what your credit score is, how to maintain it, and how to protect it. A credit score is a numerical expression based on a level analysis of a person's credit files, to represent the creditworthiness of an individual or a business.

Your credit report will include information such as:

According to Experian which is one of the main three credit reporting agencies, for a score with a range between 300-850, a credit score of 700 or above is generally considered good. A score of 800 or above on the same range is considered to be excellent. ... Higher scores represent better credit decisions and can make creditors more confident that you will repay your future debts as agreed.

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Credit Reporting Agencies

Your credit report is information about you and your history with credit. It includes your accounts, whether you have paid your bills on time and sometimes collections or bankruptcies. It's important to check that the data is correct and up to date because it can have a powerful impact on your finances.

In the U.S., there are three national credit bureaus (Equifax, Experian and TransUnion) that compete to capture, update and store credit histories on most U.S. consumers. While most of the information collected on consumers by the three credit bureaus is similar, there are differences.

credit agencies

According to myFICO, a predictive FICO scoring system resides at each of these credit bureaus from which lenders request a FICO® Score when evaluating a particular consumer's credit risk. The FICO scoring system design is similar across the credit bureaus so that consumers with high FICO Scores on bureau "A's" data will likely see a similarly high FICO Score at the other two bureaus. Conversely consumers with lower FICO scores at bureau "A" will likely get low FICO Scores at the other two bureaus when the underlying data is the same across the bureaus. Your score will be slightly different with each credit reporting agency. You can read more from myFICO in Why are my FICO Scores different for the 3 credit bureaus?.

Assignment: How Can I Improve My Credit Score? Web Quest

Directions: Read the articles What does it mean if I have a "thin file?" by CK Staff and No Credit, or Poor Credit? Here Are Your Loan Options by Erin Millard.

Watch the video on the Equal Credit Opportunity Act:

It's credit scores - plural. You might think that you have a single credit score, but that is far from the truth. There actually are hundreds – more than 1,000, in fact – credit scores in existence. This web quest activity is a chance to research some strategies for improving it further (or creating it, if you have NO credit history so far). Complete the How Can I Improve My Credit Score? Web Quest. Uploaded the completed web quest to itsLearning for grading.

Assignment: Consumer Views on Crecdit

Directions: Read each of the scenarios of consumer views of credit. Read each and decide whether you agree or disagree and explain why. Submit your responses to itsLearning.

Buying a Car

One of the first major purchases a young person will make is buying their own car. If you are lucky, you get a car as a gift but most people do not. They have to save their money from part-time jobs and/or borrow money to purchase the car and make payments over time.

Assignment: Credit and Loan Discussion

Directions: Understanding consumer and business loans is very important. Were you a little shocked when you saw the real cost of a loan--the interest? Discuss interest rates with your class and what important lessons (for consumers and business owners) are in the activity above. What can consumers and business owners do to make the cost of using credit less expensive? Please remember to respond to this question AND respond to at least 2 of your classmates' posts. Use facts and figures from the mortgage calculator to justify your answers.


Managing Credit
Credit Review Game


If you are having problems viewing this page, opening videos, or accessing the URLs, the direct links are posted below. All assignments are submitted in itsLearning. If you have having problems, contact Mrs. Rush through the itsLearning email client.


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