Students Leverage FTC Credit Report Policy

(PRWEB) March 9, 2005

Residents in 12 Midwestern states just became eligible to for a little publicized (almost secret) website, http://www.annualcreditreport.com, that gives $24 of credit reports for Free. “When used properly these free reports can be parlayed into significant monthly savings from lower cost loans,” according to Larry Chiang, founder of United College Marketing Services.

CreditHealthy.com instituted the “Come, Grow, Go” credit program that focuses on young adults’ credit. Visitors can fax (877-369-5577) in their credit reports and get recommendations to boost their FICO credit score. Larry Chiang introduced the concept by saying, “Come to the website, grow in your learning, go out and leverage your better score”.

“To support College Credit Card Credit Healthy Month, CreditHealthy.com will fund the new program free for college students until spring of 2007,” said Larry Chiang. “We are supporting college students effort to turn their credit card into a financial tool,” said Chiang. He added, “College students are graduating with FICO scores in the high 700s which opens up doors to lower cost car loans, discount car lease programs, reduced apartment fees and the waiving of utility security deposits”.

Secrets shared can lead to a 50 point jump. “Your credit score be bumped as high as 50 points if you remove something as simple as one incorrect credit reporting agency entry,” said Chiang and added, “This can be leveraged into a cost savings of up to $1200 on your next loan”.

According to, CNN, “personal finance remains a fringe topic”. “We see CreditHealthy.com as a way for the spectrum of college students to phase shift in credit understanding and sophistication,” proclaimed Chiang. CreditHealthy.com shows that better FICO scores means lower cost loans.

In the consumers’ best interest?! Ordered by Congress to give consumers free access to their own credit reports once a year, the nation's three largest credit bureaus are turning that requirement into a marketing opportunity. “CreditHealthy.com is bucking the establishment and doing what’s best for the consumer. Sure we could make $10, $15, $20 on each consumer the way that the big three credit reporting agencies do… but we are not about squeezing college students for a profit,” said Chiang.

On the Internet, many firms offer so called ‘Free Reports’. Most come with an obligation to buy, submit personal information, sign up for a service that you need to cancel, or something similarly unsavory. CreditHealthy.com provides something truly free.

The Federal Trade Commission mandated free credit reports for 12 Midwestern states beginning March 1. "The free credit report policy is supposed to give consumers an incentive to check their credit reports regularly for errors or signs of ID theft.," said Beth Givens, director of the Privacy Rights Clearinghouse, a nonprofit consumer advocacy group. She added, “The law is not to be an incentive for the bureaus to market their products”.

CreditHealthy.com, provides cutting edge tips, strategies, techniques and ideas to college students at seminars and also on the web. Its focus is on helping people’s credit issues proactively. It is also the first to offer free fax credit counseling.

United College Marketing Services is number one in marketing to college students at credit card sponsored educational seminars. It leads the credit industry in proactive credit education and has educated over 25,000,000.

Contact:

Larry Chiang

650-283-8008

larrychiang@ucms.com

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