Objective

The purpose of this activity is to analyze and interpret information contained in a credit report.

Directions

Review the example credit report included with this activity. Then search for a sample credit report online, print it off, and answer the questions below. This activity will help familiarize you with how to read a credit report.

1. From which credit bureau is the report taken?

2. How old is this person?

3. What is the highest account balance?

4. What accounts have a zero balance?

5. Are there any collections or delinquencies on the report? If yes, list them.

6. Does this person have an automobile loan? If so, describe it.

7. Does this person have a mortgage? If so, describe it.

8. Does this person have any bankruptcies? If so, describe them.

9. Where does this person work?

10. Are there any inquiries on this report? If yes, list them.

11. Are there any closed accounts? If yes, list them.

12. Based on what you see, what kind of credit does this person have?

	Excellent
	Good
	Fair
	Poor

13. In your opinion, why do people rely so heavily on credit?

14. Why is debt so dangerous?

15. What are some practical ways to live without using debt?