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4.1: Credit Score and FICO

ESL 111B / 242C: Academic Listening and Speaking · LibreTexts

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    Warmup Questions

    1. Why do almost 90% of people feel stressed or uncomfortable when talking about personal finances?

    2. What things would you consider if you were to let some borrow money from you?

    3. What do you think banks, landlords, and credit companies use to determind wheter or not you can get a bank loan, rent an apartment, or open a credit card?

    Vocabulary

    Exercise \(\PageIndex{1}\)

    Directions: Read each sentence pair and select the correct definition (A or B).

    Fine Print (noun)
    • Sentence 1: Before you sign an apartment lease, always read the fine print carefully.
    • Sentence 2: Many people understand what a credit score is, but they do not know the fine print about how it is calculated.
    • A) Important rules, conditions, or details that are often overlooked
    • B) A large advertisement displayed on a billboard
    Answer

    A) Important rules, conditions, or details that are often overlooked

    Listening Comprehension

    Main Idea: Summarize the main idea of the video in 2-3 sentences

    Exercise \(\PageIndex{1}\)

    Directions: Read the statements below. Based on the video, write T for True or F for False. If a statement is False, rewrite it to make it true or explain why.

    1. ____ Nearly 90% of people report that their personal finances affect their daily stress levels.
    Answer

    T (True) — The video states that nearly 90% of people say finances impact their stress levels.

    Discussion Questions

    1. Credit Culture Across Countries: In the United States, credit scores are used for renting apartments, getting loans, and buying cars. How does borrowing money or renting an apartment work in your home country? Do people use credit scores, or is it based on other factors?

    2. Payment Habits and Tools: The expert emphasizes that missing just one payment can lower your score. What practical tools or habits (like automated payments, phone calendars, or budget apps) do you use to make sure you never miss a deadline or bill?

    3. Advice for New Students: If a classmate just arrived at college and has no credit history in the US, what two pieces of advice from this video would you share with them to help them start building a strong score safely?

    This page titled 4.1: Credit Score and FICO was last modified on Sat, 26 Sep 2026 19:01:27 GMT and is shared under a CC BY-NC-SA 4.0 license and was authored, remixed, and/or curated by Ricky Tjandra.