If one of your loans goes into COLLECTIONS, you must use your payment card(s) to get it out of COLLECTIONS during one of your regular turns before bills are due.
Be sure that you have enough payment cards [Green cards] to cover your loans when it’s time to pay bills after every 3 turns.
Loans [Yellow cards] get cheaper to repay as your credit score improves. The loan payment cost is indicated by the color and number on the card.
Each NEW loan type [Yellow cards] (credit card, student loan, auto loan and home loan) gets you an additional action every turn...but make sure you will be able to make the payment when bills are due!
Part I: Play
Play the game Credit Clash twice. As you complete each game, jot down your results as well as the strategies you used to try and beat your opponent, the computer.
Required
40
Question 1
1.
Record your results:
Game #1
Ending Credit Score:
_______
Who won?
_______
Notes on your strategy:
_______
Game #2
Ending Credit Score:
_______
Who won?
_______
Notes on your strategy:
_______
Part II: Reflection
Required
10
Required
10
Required
10
Required
10
Required
10
Required
10
Question 2
2.
How many lines of credit did you take out while you played the game?
Credit Cards:
_______
Student Loans:
_______
Auto Loans:
_______
Mortgages:
_______
Question 3
3.
How did you decide when you were “ready” to take out more lines of credit?
Question 4
4.
Did any of your loans go into Collections?
If YES, what caused that to happen, and what impact did it have on your credit score and your strategies in the game?
If NO, how did you prevent it from happening, and what impact did that have on your credit score and your strategies in the game?
Question 5
5.
What perks or advantages came with increasing your credit score throughout the game?
Question 6
6.
After each round of bill pay, you were given a random “Special Event” purple card that either helped or hurt your situation. How might that translate into real world situations?
Question 7
7.
Describe two key takeaways of playing this game that you could apply to your financial future to help you manage your credit.