They say good things come to those who wait. But for how long?

Answer: 6 months

Questions:

• Why do you think credit reporting agencies want you to have 6 months of history to get a score?
• How do you think your ability to borrow money compares at 6 months, versus after years of credit history?
• What habits could you practice in order to improve your credit score once it’s established?

Here are the ready-to-go slides for this Question of the Day that you can use in your classroom.

Behind the numbers (Experian):

"When building credit from scratch, it takes at least six months to generate your first FICO Score, though VantageScore® provides a score much faster. Either way, reaching good credit can take a year or more, depending on your habits and starting point."

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Check out this teacher favorite Interactive: FICO Score Simulation, where students see which factors impact a credit score. 

About the Author

Kathryn Dawson

Kathryn (she/her) is excited to join the NGPF team after 9 years of experience in education as a mentor, tutor, and special education teacher. She is a graduate of Cornell University with a degree in policy analysis and management and has a master's degree in education from Brooklyn College. Kathryn is looking forward to bringing her passion for accessibility and educational justice into curriculum design at NGPF. During her free time, Kathryn loves embarking on cooking projects, walking around her Seattle neighborhood with her dog, or lounging in a hammock with a book.

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