- Describe the elements of a credit score.
- Understand how to obtain a credit report.
- Explain how a credit score affects creditworthiness and the cost of credit.
- Explain the factors that affect a credit score.
- Analyze a credit report, indicate the time that certain negative data can be retained, and describe how to dispute inaccurate entries.
- Watch Video 3.1
- As you watch the video, record the missing words from page 90 of the textbook as they pop up on the left side of the video screen by filling in this form. (page 90) .
- Discussion Questions:
- Why is the FICO score really an “I Love Debt” score?
- Can you really live without a credit score?
- What are the five components of the FICO score?
- Does the FICO score measure wealth or how well you manage money?
- Pick one of the myths presented in the Debt chapter and available in your digital notes in your email. Write a persuasive essay to someone who believes that particular myth to be true. Name your file Myths Debunked-(your initials).
- Remember that a persuasive essay attempts to convince someone that your point of view is valid. In your essay, be sure to discuss both sides of the position so you can effectively counter the opposing view.
- Use one other source of information besides your student text to support your argument. You can search for information at daveramsey.com or use a search engine and type a summary of your myth in the search box (for example, “lottery tax on poor”).
- Your persuasive essay will include the following five paragraphs:
- Introductory paragraph: Provide a clear statement of your position in the topic sentence. Give two clear arguments that support this position.
- Two supporting paragraphs: Each argument stated above should be covered in a separate paragraph. Support each paragraph with specific examples, facts and reasoning.
- One paragraph stating the opposite viewpoint: Use an opposing statement and then refute it. For example, you might say, “One could argue that (state opposite viewpoint), but I believe that (state your viewpoint).”
- Closing paragraph: Restate the position. Rea rm the most compelling argument. Do not introduce new arguments in the conclusion.
- In your Personal Finance Journal-C4 file in your Chapter 4 folder, complete the next row in the table by answering the question listed.