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

Answer: 3-6 months

Questions:

• Why do you think credit reporting agencies want you to have 3-6 months of history to get a score?
• After your first 6 months of managing credit, how do you think your ability to borrow money would compare to someone with years of credit history?
• What are some good habits you would practice in order to make sure you 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 (from Capital One):

"The time it takes to build good credit can be different for everyone. But it generally takes about three to six months to get your first credit score. The timing depends on factors like what your credit scores are now and how you’re managing your debt."

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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.