Credit Rating TODAY YOU WILL... START DOWN THE PATH TO BUILD A REPUTATION AS A RESPONSIBLE BORROWER. 1 ©2014 National Endowment for Financial Education.

Slides:

Advertisements

Similar presentations

Your Name – Your Business Helping People Improve & Protect Their Credit Credit Concepts I.

Advertisements

Your Financial Education Guide. The Basic ABCs of Finance Income Opening Accounts Creating a Budget Financial Goals Money Management Borrowing Money Credit.

Borrowing Rights TODAY YOU WILL... EXPLORE THE RIGHTS AND RESPONSIBILITIES OF BORROWERS AND LENDERS. 1 (C)2012 National Endowment for Financial Education.

Teens lesson seven credit presentation slides 04/09.

MoneyWi$e: Good Credit Good Credit Money Wi$e –A joint financial education project of Consumer Action and Capital One.

Credit Rating TODAY YOU WILL... START DOWN THE PATH TO BUILD A REPUTATION AS A RESPONSIBLE BORROWER. 1 (C)2012 National Endowment for Financial Education.

Earning Money  What is income and what are 3 possible sources?  Income is money that you have available to you to spend  3 sources: babysitting,

Introduction to Business & marketing

Understanding Loans and Borrowing Money. Development of Credit  In the Past  Credit Today.

Copyright, 1996 © Dale Carnegie & Associates, Inc. GETTING OUT OF DEBT MINI-LESSON INDIANA DEPARTMENT OF FINANCIAL INSTITUTIONS CONSUMER EDUCATION.

CREDIT. ADVANTAGES OF CREDIT advantages: o Able to buy needed items now o Don’t have to carry cash o Creates a record of purchases o More convenient than.

Teens 2 lesson seven understanding credit presentation slides 04/09.

Applying for Credit Chapter 26.1.

 A record of your credit history that includes information about: ◦ Your identity ◦ Your existing credit ◦ Your public record ◦ Inquiries about you.

Build Wealth, Not Debt Strategies for helping clients out of poverty.

PART 2: MANAGING YOUR MONEY Chapter 6 Using Credit Cards: The Role of Open Credit.

Credit Scores and Scorecard Lending AGEC 489/690 Spring 2009 Slide Show #12.

A Good CREDIT Welcome to MoneyWI$E A CONSUMER ACTION AND CAPITAL ONE PARTNERSHIP Build it and keep it © 2011.

Happy Thursday! 1. Complete the review questions on the back! 2. Have out part 8 & 9. I will be checking that for completion. 3. We are going over Credit.

The Importance of a Good Credit Score and How to Read a Credit Report

Applying for Credit Unit 3.  Most lenders build their lending polices around the “five C’s of credit”  Character – Will you repay the loan?  Capacity.

Can I, Like, borrow 10 bucks?. CREDIT: Your Best Friend and Worst Enemy.

A.) FinancialAid.gov B.) Wichita.edu/Finances C.) MyCollegeMoneyPlan.orgD.) Money4You.com L C.) MyCollegeMoneyPlan.org F What is the name of the website.

1. 2 Welcome  3 rd of 16 Sessions No cost to participate.  Financial Support: FINRA Foundation & United Way Worldwide  Solid Finances Webpage: 

Understanding Your Credit Score By Your Name Company Telephone Number & URL Logo Enter your company tag line here.

FINANCIAL ROADMAP. AGENDA  Credit cards and interest  Student loans  What happens if you don’t pay: Credit scores  Taking control of your money.

Credit. Credit is the ability to borrow money based on an individuals economic status. The advantage of credit is that you can enjoy new purchases today.

CREDIT – Part 2 Business Issues. Credit Cards Paid over a variable amount of time Finance charge (interest) is called annual percentage rate (APR) expressed.

FINANCIAL AWARENESS CREDIT CARDS & LOANS Lesson 2: Credit Basics – Part 2 Instructor PowerPoint Copyright © 2009, Thinking Media, a division of SAI Interactive,

Credit Credit is a sum of money a person can use for a period of time before having to reimburse the lender.

CREDIT REPORTS How important is your credit score? What do we already know? What do we want to know? When would a credit report get pulled?

Building Credit RisksTrouble Types of Credit Fees Final Jeopardy.

Secrets to Financing APPROVAL DELETE ( )

Copyright, 1996 © Dale Carnegie & Associates, Inc. GETTING OUT OF DEBT MINI-LESSON INDIANA DEPARTMENT OF FINANCIAL INSTITUTIONS CONSUMER EDUCATION.

 the ability to borrow money in return for the promise of REPAYMENT  Before using credit you should ask your self:  Is it a want or a need?  Do you.

Credit Reports. What is a Credit Report? Credit Report: A record of past borrowing and repayment of debts.

11111 Youth Money Management Learning Good Spending Habits.

2 You Will Know Major types of insured financial institutions Basic banking terms Differences between banks and check-cashing services Bank employees.

Filing for Bankruptcy Mr. Stasa – WE City Schools © 1.

College lesson four about credit.

* Do you have a checking account or credit card that you pay for? Do you know how to manage a checking account or credit card? * Please put your responses.

Financial Service Providers SELECT YOUR OWN FINANCIAL SERVICE PROVIDER 1 ©2014 National Endowment for Financial Education | Lesson 5-4: Financial Service.

Simple Interest. Simple Interest – * the amount of money you must pay back for borrowing money from a bank or on a credit card or * the amount of money.

MoneyWi$e Webinar: Good Credit What is credit?  Ability to borrow money or obtain goods.  Your promise to pay the original cost later or over time plus.

Credit Cards. When thinking of getting a Credit Card follow the Three C’s: Character: Will you repay the debt? How you used credit before? Do you pay.

The Three C’s of Credit Objectives: – Students will be able to describe the “Three C’s of Credit (Capacity, character, and collateral) and factors used.

Teens Credit- Day 3 Independent Living December 2, /09.

Credit Score Based on the articles, “How Credit Scores Work; How a Score is Calculate?” and “Managing Your Credit Score” from Personal Finance Literacy,

What’s a Credit Report? From age 18 on, agencies collect data about your spending habits. Monitor your ability to handle risks (i.e. loans I installment.

Financial Service Providers SELECT YOUR OWN FINANCIAL SERVICE PROVIDER 1©2012 National Endowment for Financial Education | Lesson 5-4: Financial Service.

2 Table of Contents  Personal Identification Information  Trade Lines or Payment Records  Public Record and Collection Items  Inquiries  Consumer.

Using Credit TODAY YOU WILL EXAMINE REASONS WHY PEOPLE USE CREDIT. 1 ©2012 National Endowment for Financial Education | Lesson 2-1: Using Credit.

Teens lesson seven credit presentation slides 04/09.

Copyright, 1996 © Dale Carnegie & Associates, Inc. GETTING OUT OF DEBT MINI-LESSON INDIANA DEPARTMENT OF FINANCIAL INSTITUTIONS CONSUMER EDUCATION.

How to Improve Your Credit Score Who Determines your Score? Three Credit Bureaus:

Making the Most of Your Credit An Advantis Credit Union Better Together Workshop.

Credit scores & Creditworthiness

Do Now 12/7/16 On a half sheet of paper answer the following:

Borrowing Econ 10/13.

Who Determines your Score? Three Credit Bureaus:

© 2014 Junior Achievement USA, M1205 – Debit and Credit PowerPoint

Financial Concepts &Terminology

Credit Scores Interest on Debt and Interest on Savings

High School Financial Planning Program Lesson 2-3: Credit Rating

Credit and Credit Reports

High School Financial Planning Program Lesson 2-3: Credit Rating

Workshop Goal Learning Objectives

Presentation transcript:

Credit Rating TODAY YOU WILL... START DOWN THE PATH TO BUILD A REPUTATION AS A RESPONSIBLE BORROWER. 1 ©2014 National Endowment for Financial Education | Lesson 2-3: Credit Rating

Can I Borrow? What were you trying to borrow, and were you successful in negotiating a deal to borrow the item? Why or why not? What were the conditions (if any) for you to follow so you could borrow or use the item? When you were asked to loan the item, what influenced your decision to let the person borrow the item? ©2014 National Endowment for Financial Education | Lesson 2-3: Credit Rating 2

Preview Today we will answer these questions: How do I get a loan or credit card? Will I automatically get approved for a loan? How much can I borrow? Use what you learn today to establish a borrowing code of conduct. 3 ©2014 National Endowment for Financial Education | Lesson 2-3: Credit Rating

Applying for Credit Full, legal name Current address and phone number Date of birth and Social Security number Current employer Monthly income Bank name and account number Monthly rent or mortgage payment ©2014 National Endowment for Financial Education | Lesson 2-3: Credit Rating 4 Christina L. Anderson [use your own address, phone number] May 29, 1963, (SS # provided) Ms. Anderson is a physical therapist at Sargant Care Clinic, 400 Medical Way, [your town] Ms. Anderson started working at Sargant five years ago today and currently earns $5,100 per month. The Andersons have a savings account (# ) at a bank near you Pay $975 per month for mortgage Christina L. Anderson [use your own address, phone number] May 29, 1963, (SS # provided) Ms. Anderson is a physical therapist at Sargant Care Clinic, 400 Medical Way, [your town] Ms. Anderson started working at Sargant five years ago today and currently earns $5,100 per month. The Andersons have a savings account (# ) at a bank near you Pay $975 per month for mortgage

You Make the Call Approve or Deny a credit application? ©2014 National Endowment for Financial Education | Lesson 2-3: Credit Rating 5

Credit Reporting A history of how you have used credit: Where you live and work Credit account amounts (balances and limits) Payment history (on time or late) Recent inquiries from creditors Any collection or legal action to collect debt ©2014 National Endowment for Financial Education | Lesson 2-3: Credit Rating 6

Who’s Watching? ©2014 National Endowment for Financial Education | Lesson 2-3: Credit Rating 7

Starting Out ©2014 National Endowment for Financial Education | Lesson 2-3: Credit Rating 8

Challenge Assignment Devise a plan for action you can take now to practice sensible borrowing habits and to build a good reputation as a borrower. ©2014 National Endowment for Financial Education | Lesson 2-3: Credit Rating 9