U.S. Bank is utilizing technology to educate consumers on the importance of smart money management. The bank launched this week an interactive website to will aid consumers in managing their credit scores, according to a release.
Called the “Credit Wellness Center,” the new website will provide answers on common credit questions, tools to help make credit decisions and tips on how to protect your credit for your entire life.
Credit Wellness Center Features
The website starts off by explaining what a credit score is and what range you should try to fall into. U.S. Bank stated that it wants consumers to be able to manage their credit score “so that it could be an asset at important moments throughout their lives.” The interactive slider shows how different scores can affect your creditworthiness.
Another section explains how credit scores are calculated. This is meant to help you understand what parts of your budget to focus on in order to improve saving habits. There are five factors that typically go into credit score calculations:
- Payment History — 35%
- What you Owe — 30%
- Types of Credit — 15%
- New Accounts — 10%
- Length of Credit History — 10%
Along with a section on the importance of credit that highlights all the things you need good credit for, there is another section with ways to improve your credit score. U.S. Bank even offers a “Test Your Knowledge” section where you can see if you retained any material from the website. If that isn’t enough, the videos and resources section is meant to simultaneously entertain and educate.
“U.S. Bank is committed to helping consumers understand how to use credit wisely, and why establishing a positive credit history is so important for their financial health,” said Cliff Cook, U.S. Bank chief marketing officer. “The U.S. Bank Credit Wellness Center reinforces our commitment by offering consumers an easy-to-use, one-stop credit education resource.”
To check out the new website click here and test it out for yourself.