Credit for Starters
About This Course
This foundational online course is designed to equip you with essential knowledge about credit, empowering you to make informed financial decisions.
What You Will Learn:
- Understanding Credit: Get a clear definition of credit and its importance in today’s financial landscape.
- Types of Credit:Â Explore the different types of credit available, including revolving and installment credit, and how each can impact your financial life.
- The Importance of Credit:Â Learn why credit matters, from securing loans to affecting your ability to rent an apartment or get a job.
- Credit Scores:Â Discover what credit scores are, how they are calculated, and their significance in lending decisions.
- Building a Strong Credit Foundation:Â Understand the steps you can take to establish and maintain a healthy credit profile.
Who Should Enroll: This course is perfect for anyone looking to gain foundational knowledge about credit, whether you are a middle school student, a young adult starting your financial journey, or anyone seeking to improve their understanding of credit.
.
Learning Objectives
Basic concept - Credit is borrowed money that must be repaid, usually with interest. It's built on trust and financial responsibility.
Credit score importance - Their future financial opportunities (car loans, apartments, college loans) will depend on their credit history and score.
How credit scores work - Scores are calculated based on payment history, amounts owed, length of credit history, new credit, and types of credit used.
Building credit early - They can start building credit as authorized users on parents' accounts, with secured credit cards, or student credit cards when they're old enough.
Dangers of debt - Understanding how interest compounds and how minimum payments can lead to long-term debt problems.
Credit vs. debit - The difference between using borrowed money (credit) and their own money (debit).
Protecting their credit - The importance of protecting personal information, checking credit reports, and avoiding identity theft.
Budgeting basics - How to only use credit for planned purchases they can afford to repay.
Common credit mistakes - Late payments, maxing out cards, and opening too many accounts can all damage credit.
Requirements
- No requirements
Curriculum
11 Lessons
Understading Credit
Definition and examples of credit
Your Instructors
TBA
See more
Free
