Credit, Credit Cards and Credit Reports

Grade Level:

10

Subject:

Social Studies

Start Date:

End Date:

Goal Summary:

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Standards Met:

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Essential Questions:

Should I get a credit card?

Understandings:

Students will be able to understand good and bad uses of credit.

Content Goals:

Discuss the advantages and disadvantages of using credit.
Describe four major types of credit
List ways to begin building a credit history.
Describe a person whom creditors would view as a good credit risk.
Explain the importance of a good credit rating.

Skill Goals:

Students will be able to figure interest using the formula principal x rate x time.
Students will be able to identify the parts of a credit report and evaluate the reasons why a person might be denied credit.
Students will be able to use an online amortization calculator to figure total interest paid.

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Reflection:

10/31 and 11/1 Watched the pbs.org video "The Secret History of the Credit Card." Students enjoyed watching the video and asked questions about how credit cards work.

11/4 Students read Chapter 27 out of the Learning for Earning text. They answered questions summarizing the things that they have read. We discussed the answers to the questions as a class.

11/5 Credit Card Comparison. A good activity, maybe not have them investigate so many different credit cards and have them do it after we do the activity about figuring credit card interest.

11/6 Credit 101. Good for introducing the credit lesson and obtaining new vocabulary. Not worth an entire class period.

11/7 - 11/12 Good activity for letting students evaluate the pros and cons of credit cards. Allow 2 days for data gathering/poster creating and 1 day for presentations.

11/13 Credit card interest, balance and payment activity (Justin Jabowski). Good activity. Do instead of Credit 101.

11/14 Credit Card Amortization: Good activity for students to see how much is spent on credit card interest and how easy it is to build up debt quickly. Good opportunity for students to work with a partner.

11/15 &18 -19 Credit Report/Score Discussion Don't use the 1st PowerPoint presentation, Use the presentation that I created.

11/19: Good to check for understanding -- Credit Report worksheet to assess student understanding of credit reports and scores.

11/20: Complete Credit Discussion my PowerPoint. Do the Credit Report Scenario and discuss her options as a class. Worksheet needs to be adjusted for directions and information. 1. Students take a highlighter and identify risky credit indicators. 2. Figure Total debt possible, 3. Figure total Debt owed. 4. Figure Percentage of total debt used.
5. List 3 things that Carolina could do to do improve her credit.

Lessons:

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