Unique Partnership Offers Advice on Managing Credit

The Ad Council has teamed up with the Consumer Bankers Foundation, and the Leadership Conference on Civil Rights Education Fund, as well as several banks—HSBC, SunTrust, Wachovia, Citigroup, and National City—to inform the public about simple steps consumers can take to improving their credit.

The website, CreditFairy.org, is designed to make consumers more knowledgeable about the proper use of credit as well as increase awareness of the negative impact of poor credit. Credit Fairy may be a useful resource for AFI grantees in offering financial education. It offers interactive to-do lists, a glossary, quizzes, links, and PSAs.

Credit Fairy helps users understand what credit is; how to obtain, read, and fix their credit report; how to get and improve their credit score; and how to manage their credit over their lifetime. Credit Fairy also provides sound advice in its frequently asked questions, such as: “My fiancée has terrible credit. Once we're married, will her bad credit lower my credit score?” Or, “If my credit score falls in the ‘high risk’ category, does that mean I won't be able to get a loan?” Reading the success stories gives people hope that, with knowledge and time, they can improve their credit and the quality of their lives.

This article originally ran in the IDAresources.org Update Newsletter on 08/20/09 and is available for archival purposes.
For updated information on asset building and the AFI program, please see www.IDAresources.org.