Georgia standard · Social Studies

`SSPFL5`Credit and Credit Scores

Describe the importance of credit and having a favorable credit score.

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Expectations

SSPFL5.a
Define credit and interest rates.
SSPFL5.b
Describe factors that affect credit worthiness and the ability to receive favorable interest rates including character (credit score), collateral, and capacity to pay.
SSPFL5.c
Describe the basic components of a credit score including payment history, debt to income ratio, amount owed, length of credit history, types of credit used, amount of available credit, and recent credit applications.
SSPFL5.d
Describe different ways financial institutions, employers, and other parties use credit reports and credit scores.
SSPFL5.e
Describe how to access one’s credit report and credit score.
SSPFL5.f
Analyze and evaluate a sample credit report.
SSPFL5.g
Explain how to begin building a good credit history at an early age.
SSPFL5.h
Explain causes of personal bankruptcy and describe consequences of declaring bankruptcy.

No Georgia Milestones blueprint cites this standard.