College Students Paying Attention to Credit Scores Due to Credit Card Project Project and Campaigns Expanding to Additional College Campuses SAINT PAUL, Minn., Sept. 16 /PRNewswire-FirstCall/ -- The Credit Card Project, a comprehensive credit education and early intervention project aimed at college students, recently completed its initial campaigns. The project consists of a What's My Score credit education campaign and early education tests conducted by credit issuers. The project has shown to be effective at increasing awareness of credit scores among college students and "at risk" credit consumers. The comprehensive results from the What's My Score campaign and early education tests will be presented at the 2004 ABA/Forword Financial Bank Card Conference on September 19. "Building positive credit habits is important at any age, but especially for college students who are at a critical stage in building their credit history," said Lynn Heitman, senior vice president of bank branded credit card products at U.S. Bank. "So much depends on their ability to manage credit early in their lives, which is why we feel so strongly about the collaboration that is taking place with the Credit Card Project." The Credit Card Project has found that credit education works for people who are new to credit, especially college students. Three credit issuers involved in the Credit Card Project conducted early education tests on a nationwide scale to college students and "at risk" credit users. The goal of the tests was to share best practices and improve cardholder education. Credit education campaigns with college students resulted in cardholders making larger, on-time monthly payments, and a decrease in late and over-limit fees. These behaviors result in better credit scores for consumers. "Wells Fargo believes increased education and awareness, particularly with those consumers new to credit, can improve both cardholder and issuer experiences resulting in a win-win outcome for all parties," said Kevin Rhein, executive vice president of card services at Wells Fargo. "Our early intervention program clearly indicates an increase in positive credit behaviors for those card holders completing the education modules." The What's My Score campaign, initially launched at two Minnesota universities during the first week of March 2004, consisted of traditional advertising and non-traditional, grassroots tactics. The 10-week campaign was designed to communicate the importance of a good credit score to the lives and careers of new credit users. Print ads focused on issues important and relevant to college students. For example, one ad depicted a rusty, old, beat-up car with the headline, "When you're ready for a nicer car, you'll be glad you have a good credit score." Other ads showed the importance of having a good credit score when looking to upgrade to a nicer entertainment system or a better job. After successful inaugural campaigns, the Credit Card Project will sponsor additional college campaigns and provide campaign materials to several more schools this fall. "We were very pleased with the results of the What's My Score campaign last spring," said Kimberly Gartner, project director, The Saint Paul Foundation. "The success of this project is really a testament to the cooperation of all the stakeholders and credit industry participants in this program. Everyone involved has been focused on educating consumers and encouraging smart spending. We're thrilled that we can roll out the What's My Score campaign on a larger scale and continue to engage college students early in their credit history." The Credit Card Project grew from research completed by The Saint Paul Foundation that validated the problem of credit card debt. Initial support from Target Financial Services, U.S. Bancorp, Wells Fargo and The Saint Paul Foundation helped the Credit Card Project. The project has support from card issuers, credit bureaus, credit scoring agencies, credit counselors, foundations and educational institutions. Companies interested in supporting the Credit Card Project should contact Kimberly Gartner at 651-493-7471. About The Saint Paul Foundation The Saint Paul Foundation is a nonprofit community foundation whose mission is to contribute to the health and vitality of the community. Bringing together card issuers, consumers, credit counselors, educational institutions, foundations and regulators, the Credit Card Project of The Saint Paul Foundation provides a unique forum for understanding the factors that lead to credit trouble and devising actions to alleviate the problem. DATASOURCE: Wells Fargo & Company CONTACT: Kimberly Gartner, Project Director of Saint Paul Foundation, +1-651-493-7471 Web site: http://www.wellsfargo.com/

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