Credit Score Clarified Ms. Gliot

Simulation 1.Pick up a 6-Sided Die. 2.Roll the Die and Record Your Answer for Each Situation. 3.Use the Die Rolls and Situations to Fill Out the Credit Score Calculator Worksheet. 4.Answer the question: Am I credit worthy why or why not?

1. Salary 1 = $0 – 20,000 2 = $21,000-30,000 3 = $31,000-40,000 4 = $41,000-50,000 5 = $51,000-60,000 6= $61,000 or more

2. Education 1 = You do not graduate high school 2 = You graduate high school 3 = You graduate community college with a 2-year Associates Degree 4 = You graduate university with a 4-year Bachelor’s Degree 5 = You graduate university with a Master’s Degree 6 = You graduate university with a Doctorate Degree

3. Paying For Education 1 = You are unable to secure any funds for school 2 = You borrow money from a private lender for school 3 = You borrow money from the government for school 4 = You borrow money from family or friends for school 5 = You receive some scholarships for school and work to pay off the rest 6 = You receive a full ride with scholarships and grants for school

4. Job Status 1 = You are unemployed 2 = You are able to work part time at minimum wage 3 = You are able to work full-time at minimum wage 4 = You work for a charity organization that covers your basic expenses 5 = You join the military 6 = You are able to work full-time at a salaried job with full benefits

5. Health 1 = You are extremely sickly and may not survive past age 20 due to lack of proper care 2 = You are extremely sickly but have been receiving proper care and may live to age 30 3 = You struggle with illness, but still have a long life expectancy provided you receive proper care you are expected to live to age 50 4 = You have several minor but maintainable illnesses and expect to live to at least age 70 5 = You have an illness occasionally, but are reasonably healthy and expect to live to at least 80 6 = You are extremely healthy and may live past age 100

6. Credit Accounts 1 = You have recently applied for 20 or more credit cards 2 = You have never applied for a credit card before 3 = You have recently applied for 3 to 6 credit cards 4 = You have recently applied for 3 to 6 credit cards 5 = You have recently applied for 1 to 2 credit cards 6 = You have recently applied for 1 to 2 credit cards

7. Credit History 1 = You have had credit accounts for 1 year 2 = You have had credit accounts for 2 years 3 = You have had credit accounts for 3-5 years 4 = You have had credit accounts for 5-10 years 5 = You have no credit accounts 6 = You have had credit accounts for 10 or more years

8. Credit Balance 1 = Your credit balance is over $100,000 2= Your credit balance is $50,000 3 = Your credit balance is $25,000 3 = Your credit balance is $10,000 4 = Your credit balance is $5,000 5 = Your credit balance is $1,000 6 = Your credit balance is $0

9. Random Occurrences 1 = You are a frequent recipient of speeding tickets 2 = You have gone bankrupt in the past 5 years 3 = You have completely stopped paying all credit cards and are currently dealing with collection agencies 4 = Although you have struggled with debt in the past, you are receiving help from a debt consolidation company and have not missed a payment in 4 years 5 = You have some credit, but you keep all accounts current by making all required payments, you have a small savings account 6 = You have a hefty savings account, retirement funds, and no credit

Exit Ticket Answer the question: Am I credit worthy why or why not? (Based on the Simulation)