Mirrors on the ceiling…. pink champagne on ice. We are all just prisoners here, of our own device….

Pardon me, just a quick digression to some of the lyrics from one of my favorite Eagle’s songs, “Hotel California“.  The song always conjures up somewhat eerie images in my mind, and it is what I thought of first when I heard about a recent project announced by the U.S. Treasury (besides the 700 billion dollar bailout plan): an educational, online interactive game entitled the Bad Credit Hotel.

One thing is for sure, there is “plenty of room” at the Bad Credit Hotel.  And even if it’s not a “very lovely place”, it’s a somewhat fun, informative online experience for teenagers, college students — and adults as well — to learn to get a grip on excessive credit card spending and the potential consequences of misuse. The unique yet informative game created by the U.S. Treasury and the Advertising Council, along with a new set of Public Service Announcements both on radio and television, emphasizes an important goal for the organization; teaching generation Y about credit and its effect on their lives.

Clearly, there is a ongoing focus throughout the country on educating our youth on the importance of good credit. Kristy’s blog in September discussed the banning of credit card marketing on college campuses and how student credit card debt has become a serious problem. Recent surveys that we blogged about in August showed 63% of those in the age group of 19-39 had credit card debt.

The virtual hotel game itself is actually rather innovative. Once you check in at the Bad Credit Hotel, your goal is to get to “room 850″, given that 850 represents a perfect FICO credit score. You encounter interesting cyber characters and pick up hidden clues and tips along your journey, while clicking on various items for information; for example, clicking on the clock informs you that creditors cannot call you before 8am or after 9pm. In another scene, after talking with a worldly cyber-gentleman, players are prompted to create their own monthly budget which is coupled with a debt payoff calculator providing a clear plan to paying off credit card debt.

If you want to skip the game altogether but still learn about good use of credit, you can click an information-only link at the site. Some folks don’t have the patience to go through the game… (or perhaps are stumped!)

The effort is well-intentioned and certainly a unique learning tool; it’s worth a visit to the Bad Credit Hotel (www.controlyourcredit.gov) - even if you don’t “qualify for membership”! I’m wondering if they should create a similar virtual learning tool for bank CEOs and those in the mortgage industry: what might be a good name for this one… let’s brainstorm on some ideas!

Popularity: 15% [?]