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Taking Credit: Understanding Loans, Credit Cards, and Other Debts

Some people have a hard time qualifying for a loan, while others can walk into a bank empty-handed and leave with thousands of dollars in credit. The same goes for credit cards—although most consumers carry several, for an unfortunate few they are out of reach. But no matter how easy or difficult it is to borrow money, one thing is certain: paying it back is the real challenge. This program helps high school and college-level viewers understand the basics of financial credit systems, the best ways to obtain and manage credit, and how credit decisions can influence one’s future. Focusing on credit cards, car loans, student loans, and mortgages, the program offers lighthearted dramatizations that first illustrate good and bad borrowing and spending habits—and then highlight discipline as the key to a great credit rating and sustained financial health. Students will also encounter the four Cs of lending: capacity, credit, capital, and collateral. A viewable/printable instructor’s guide is available online. A Cambridge Educational Production. (25 minutes)

Playing preview clip:
What Is Credit?
Credit is a loan that must be paid back with interest over a specific length of time. Banks and financial institutions rate a person's credit rating. Students are urged to make good financial decisions at all times.