Campaigning for better credit

24 Nov

In Athens, Ga., a couple of weeks ago, I noticed a television commercial by the Advertising Council and the U.S. Treasury. The advertisement’s purpose was to encourage better credit practices for young Americans. This campaign is a beneficial way to make the public more knowledgeable of better spending habits, especially in a time serious national financial strain.

The national campaign is targeted towards Americans between the ages of 18-24 years old. This age group is targeted because a study by Sallie Mae showed that 50 percent of college students accumulate around $5,000 dollars in debt while they are in school. One out of 10 U.S high schools teach financial management, according to studies done by Capital One; therefore, education on the subject of credit may be quite beneficial.

The campaign’s Website uses an online game to teach young adults about how to make good credit choices to ultimately gain a credit score of 850. The campaign also has radio and television public service announcements that all ultimately say, “Don’t let your credit put you in a bad place.”

Credit card debt can create many financial problems for Americans. It is important that young adults practice appropriate spending habits so they don’t find themselves with serious long-term problems such as bankruptcy. Many Americans find themselves in atrocious credit card debt, so it is important to teach the future generation of adults the power of good credit. This campaign is a step in the right direction toward helping Americans budget their money better, especially with the U.S. personal savings rate at 3.3 percent.

It would be great if this campaign prevented future Americans from finding themselves in the financial bind that many Americans are in today. Hopefully, the efforts of the Ad Council and the U.S. Treasury will be successful.

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3 Responses to “Campaigning for better credit”

  1. soupknife December 1, 2009 at 9:20 pm #

    Wow, I really liked this content. I was just talking to a friend the other day about the need to communicate credit to young adults and how unethical I thought mall vendors are when they seemingly force their store cards onto patrons. This is a great story. I’d love to see a social media approach to this too!

  2. Julie December 2, 2009 at 8:58 pm #

    Thanks! Yeah, I have noticed a few young adults in unfavorable financial situations, so this campaign really stuck out to me. I agree with you about the mall vendors. It is important for people to know what they are getting into when they sign up for credit cards, especially since some stores can be a little tricky with their credit card terms.

  3. bry0000000 April 1, 2010 at 7:34 pm #

    As a UO grad, I can certainly speak to the importance of managing your credit card and student loans. Credit card companies don’t always take the initiative in educating new credit card holders how to build credit, so it’s great to see campaigns promoting responsible credit use. I remeber in college, a student group was decrying credit cards as evil, but realistically, students will need credit cards while they are students or immediately afterward, so I think promoting responsible credit use is the appropriate way to approach credit cards.

    I think this is an excellent example of socially responsible public relations and is worth highlighting, especially considering that there is a lot of interest in socially responsible public relations (at least, there was when I was a student). Great post!

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