Standard 4

Objective: The student will show understanding of credit.

Evidence:

A. Provide a definition for credit.

An opportunity for a consumer to get goods and services before payment, noting that payment will be made at the end of the month.

B. Give an example showing your understanding of the cost of revolving credit.

An line of credit, it is automatically updated as debts are payed off.

C. Identify the financial behavior of a credit worthy person

Very responsible and trustworthy with money

D. Illustrate the information included in credit reports & credit scores

Your success fullness with credit cards, your public records, credit card accounts, bankruptcies, foreclosures, credit inquires.

Reflection (should include both bullets):

A. Identify the financial behavior of a credit worthy person.

B. Explain the importance of a good credit score and how a credit score could be used.

A credit worthy person is someone that keeps track of their money, credit, and is responsible and trustworthy with money-as the make their payments on time and the right amount is always payed. A good credit score is very important because they can get you lower insurance, car, and house payments. A good credit score can also allow you to get a higher loan because it shows if you will be able to pay the bank back on time.