Problem:
A person’s ability to obtain financing, rent an apartment, get a cell phone, and get a job can hinge on his or her credit score. And, it’s actually easier to get a loan with a bad credit score than with no credit score at all.
Solution:
The Great Credit Race tackles this credit conundrum. The contest platform helps young adults establish credit scores, motivating them through gaming techniques and supporting them with financial education.
Test Results:
Del Norte Credit Union and Dupaco Credit Union piloted The Great Credit Race in their communities. Together, they collected 46 race applications, which yielded 15 qualified contestants. Each participant received a Visa credit card with a $500 limit and reasonable finance rate to use for building credit.
See the results so far:
- Del Norte Credit Union: http://www.delnortecreditrace.com
- Dupace Credit Union: http://www.dupacocreditrace.com
