Cash Course: Credit Explained | Kids Shows

Credit can be a great tool, but it can also lead to problems if someone takes on too much debt, especially early on in life. In this episode of Cash Course, your middle and high school students will find out what credit is, what makes it “good” or “bad,” and how to build great credit for themselves in the future.

Cash Course is a fun and educational show highlighting the importance of money management and financial literacy for grades 6+.

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[enochthetrucker]

Mort-gage literally means "death-pledge", because when they were started, the mortality rate was such a low age that most people never lived long enough to pay back a 30 year loan. Then the banks would take the house back, if the widow couldn't pay it and they would sell it again.

[karenc]

Not using credit, EVER! Nope, nyet, uh uh, no way, not happening!

[erielugo]

Credit is where you borrow money to pay for things you can't afford. My mother used to say: if you can't afford it, you shouldn't have it.

[thetimturnershow]

Funny how my uncle is riding my tail to get a credit card, but I never fully understood what credit was.
Thank you PragerU for enlightening me and now I have a baseline understanding of it. This whole Cash Course is a blessing and will watch the whole series.
Keep up the PHENOMENAL WORK!!!!

[Winnie-Kay]

Credit score? Try debt score. Credit is a fancy word for debt.

[living]

Everyone I know that has a super high credit score are 1 check away from losing everything I'm 40 years old never had a bank loan nor a credit card own a house 3 rental properties just bought a cheap crap house polished that turd sold it for 3 times what I paid bought another house and a cheap duplex kept the duplex and repeated the process with the house was fairly easy but I'm also a carpenter for profession so I do the work myself

[andrewrusin]

Credit cards are often the downfall of many people. A lot of people believe it's free money but then get wrapped up in this idea and don't know how to get out.

[A.RandomLattin]

I am almost 40 years young. I have NEVER had a credit card. I have done all with cash!

[rightwired]

I'm a 14-year banker in Chicagoland. The best - secret way to build a HIGH credit rating is to OPEN AS MANY CARDS AS YOU CAN. Make sure they have no annual fees. Make a single purchase, pay it off, then cut the card up, never use it again. Do this with 10, 12 cards. BANKS and Equifax and Experian scores are mostly based on your open - but unused - credit. Have a hundred thou open credit (debt/credit ratio), but not used? BANKS WILL DROOL to LEND money. We did. My credit score is 827. My wife is 828, lol. AIM.

[edikodra]

Thank you Jesus . $ 14, 000 weekly profit Our lord Jesus have lifted up my Life !!! Crypto has changed my life and you are the next.

[foristrothbert]

Okay, that was all well and good, but now do "What is Social Credit?" Given the way things are going, that's going to be even more important to understand.

[devr]

It’s sad…my son got his first big job but that job requires travel that is reimbursed. He could not have his job without a credit card…but he couldn’t qualify for one because he had no credit score at 19. I had to stick my neck out and co-sign a card with him for the limit to even be high enough for all his travel and the supplies he has to buy to do his job (and leave 80% of the available credit untouched so that he can build a good score) Just like his student loan…we have to bear the risk just for him to move forward as an adult before he can establish his credit.

[samuelelliot]

A fresh credit report never touched, starts you off at 600... This is still considered bad!

[Pikawarps]

Credit scores are a scam, pay cash and never use debt.

[Pikawarps]

You can live without a credit score, Homes can have manual underwriting. Everything else should be bought in cash

[airbomb]

Credit score is a scam, but it's so ingrained into society good luck trying to live without. From renting to getting a decent job your credit score is a huge factor. Game the scam system by using it only as a means to get a better score, not go into debt.

[helmutthat]

US Bank and Currency Committee, Samuel Unitermyer: "Is not commercial credit based primarily on money or property?
J.P. Morgan: "No sir, the first thing is character."
Unitermyer: "Before money or property?"
Morgan: "Before money or anything else. Money cannot buy it... a man I do not trust could not get money from me on all the bonds in Christendom."

[stevenw]

If you're having trouble getting approved by a credit card, a good option is a secured credit card. You put down a deposit equal to your credit limit. Helps you build credit and opens the door to other credit cards offers or other forms of credit

[rusharnmal]

Something they would need to correct in this video is on a credit card, if you pay your card off in full each month, it will not improve your credit score.

[modernsoul]

Lenders don’t want borrowers to pay off their balance in full every month. They want borrowers to pay the minimum monthly payment. This ensures the highest amount of accumulated interest the borrower will pay.