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Managing Credit - Made Simpler offers tailored advice and easy-to-follow tips online for free

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BBB and Capital One Partner to Help Cardholders Manage Credit Wisely

By Better Business Bureau

    April is Financial Literacy Month and Better Business Bureau and Capital One Financial Corp. have partnered to create a unique set of free resources to help consumers learn how to effectively manage credit.

    Recognizing that not every credit cardholder is the same, the new “Managing Credit – Made Simpler” (www.bbb.org/credit-management/) provides tailored advice for different types of credit cardholders – including young adults who are new to credit and consumers who may be looking to pay down high balances.

 

    “Faced with the realities of the economic downturn, millions of Americans have been taking a second look at their finances, including examining their spending habits and how they are using credit,” said Stephen A. Cox, President and CEO, Council of Better Business Bureaus. “Regularly examining your finances including how and why you use credit is important. BBB’s Managing Credit – Made Simpler provides easy-to-follow tips, checklists, and advice that can help consumers better understand and successfully manage their credit.”

    “Used wisely, credit can be an invaluable tool,” said Shelley Solheim, Director of Financial Education, Capital One.  “Armed with basic information about credit, including understanding of the agreements they are entering into and knowing what's expected of individual cardholders, consumers can make better choices about how they’re using their cards. Our goal is to help consumers establish good credit habits and empower them to take control of their personal finances.”

    Most credit card users understand the need to manage credit effectively, however there is no “One Size Fits All” answer about how to do it. The needs and perspectives of credit users differ based on their level of experience with credit and how they use it.  Managing Credit – Made Simpler provides targeted advice for:

 

    •    Consumers interested in securing their first credit card or managing a personal credit line for the first time

    •    Cardholders who recognize they need long-term guidance on managing their credit efficiently.

    •    Cardholders who face mounting bills and need advice on how to pay down high balances efficiently.

 

    BBB and Capital One created Managing Credit – Made Simpler to give customized credit management guidance to different types of credit users, based on their specific needs and perspectives. Credit users can self-select the version that fits their needs best:  “New to Credit,” “Balancing Act,” “Overwhelming Obligations”. Topics include strategies to pay off balances faster, how to improve your credit score, reputable resources to get help now, five ways to find more cash and fraud prevention guidelines.

 

    All of the resources and guidance made available through Managing Credit – Made Simpler can be found online for free at www.bbb.org/credit-management/.