SAN FRANCISCO - October 2, 2012
Consumers’ credit profiles affect their ability to borrow and the interest rates they’ll pay. And, lenders aren’t the only people who use credit scores to make decisions – many insurance companies, cell phone providers and landlords, do, too.
To help customers know where their credit stands and how to better manage their credit, Wells Fargo & Company (NYSE: WFC) will launch two initiatives to encourage consumers to take charge of their credit situations:
- Free Credit Score. A free credit score for every Wells Fargo consumer customer.
- Credit Education. Support of the American Bankers Association’s Get Smart About Credit day on Oct. 18, 2012.
“Knowing how to use credit responsibly is an essential part of our customers’ ability to reach their financial goals,” said Tom Wolfe, head of Wells Fargo’s Consumer Credit Solutions Group. “We want our customers to feel empowered to take charge of their credit and we believe we have an important role in providing the access and information that will help them do just that.”
Free Credit Score
From Oct. 1 through Nov. 15, 2012, all Wells Fargo consumer customers have complimentary, no-obligation access to their credit score and credit report. Customers can take part in this program by visiting a store and obtaining a unique access code from a Wells Fargo banker. Typically, if consumers wish to check their credit score, they either pay a flat fee or they sign up for a service such as credit monitoring or identity theft protection and pay a monthly fee.
Get Smart About Credit
In support of the American Bankers Association Education Foundation’s 10th annual National Get Smart About Credit day on Oct. 18, 2012, Wells Fargo will launch a month-long campaign to reach out to communities across the country and talk about the importance of credit and how to use it responsibly. Throughout October, team members will use the curriculum from Hands on Banking®/El Futuro En Tus Manos® to talk with young adults about the importance of managing their credit and using it wisely to reach their financial goals. The company has set a volunteerism goal of 60,000 hours.
“As our customers manage their finances coming out of the recession, we want to share credit and money management tactics that can help them succeed financially,” said Angel Zapata, national manager for the Wells Fargo Foundation’s Office of Financial Education. “This includes strategies to rebuild their credit and to plan for their financial futures.”
About Wells Fargo
Wells Fargo & Company (NYSE: WFC) is a nationwide, diversified, community-based financial services company with $1.3 trillion in assets. Founded in 1852 and headquartered in San Francisco, Wells Fargo provides banking, insurance, investments, mortgage, and consumer and commercial finance through more than 9,000 stores, 12,000 ATMs, the Internet (wellsfargo.com), and has offices in more than 35 countries to support the bank’s customers who conduct business in the global economy. With approximately 265,000 full-time equivalent team members, Wells Fargo serves one in three households in the United States. Wells Fargo & Company was ranked No. 26 on Fortune’s 2012 rankings of America’s largest corporations. Wells Fargo’s vision is to satisfy all our customers’ financial needs and help them succeed financially.