For immediate release: September 18, 2006 12:00:00 PM
CDT
BATON ROUGE, La. (September 18, 2006) — Noesis
Data, a Louisiana-based company that provides background intelligence
and insight on businesses, consumers and employees, is participating
in National Credit Education Week (NCEW) Sept. 18-23. Sponsored
by ACA International, the Association of Credit and Collection
Professionals, NCEW is a public service campaign to educate the
public on the basics of personal finance. The theme for this year’s
campaign is Play Your Cards Right: Don’t Gamble with
Your Credit!
“In the game of personal finance, consumers hold the cards,” said
Layne McDaniel, president of Noesis Data. “But you might
be surprised to find that using credit doesn’t have to be
a gamble. If you know the rules and understand how our modern credit
system works, you can use it as a positive tool for accomplishing
your financial goals.”
The 2006 National Credit Education Week campaign features tips
to help consumers “play their cards right,” including:
- Always Bet on Black. Budget carefully
so your checkbook stays in the black. Don’t live beyond
your means. If you’re spending
more than you’re making each month, you may be able to
get by for a while on credit, but if uncorrected, it’s
only a matter of time before you go bust.
- Never Go “All-In.” You know that exceeding
your credit limit results in a hefty fee. But were you aware
that running a tab close to your limit on any credit line makes prospective
creditors nervous, and is reflected in your credit score? Determine
your limit on each account and try to keep the balance under 50 percent. This
will prevent your score from being docked and will help you avoid over-limit
fees.
- Always Double Down.
If you carry a balance on a credit card, be sure to pay more
than the minimum payment each month. If possible, take the minimum
payment amount and double it. Doing this consistently will help
you reduce debt and save big on interest.
Take the Personal Finance Quiz that gives consumers a chance
to test, and possibly improve, how much they know about credit.
For more information on National Credit Education Week, visit www.noesisdata.com or www.nationalcrediteducationweek.com.
About Noesis Data
Noesis Data, LLC is an independent sales and marketing representative for the
Credit Bureau of Baton Rouge, Inc. and its corporate partners, including Equifax,
ChoicePoint, Fidelity National Information Services, AccuData and others. Its
relationships with its corporate partners provide clients with the most comprehensive
array of consumer information products and services available in the industry.
Noesis Data provides innovative, industry-leading consumer information solutions
including credit reports and data products, debt recovery products, fraud detection
and prevention, employee background screening, residential tenant screening,
check authorization, mortgage reporting, direct marketing, personal solutions
and much more. For more information on Noesis Data, visit www.noesisdata.com.
###
Interviews, Photos and Graphics Available.
NOESIS DATA MEDIA CONTACT: Shelly Dupré (shelly@object9.com)
(225) 368.9899 or (337) 962.5288 mobile
DOWNLOAD PRESS RELEASE IN PDF FORMAT
Personal Finance Statistics
Over 40 percent of American families annually spend more than
they earn.
(Observer, Jan. 12, 2004)
Total U.S. consumer credit outstanding is $2.2 trillion. This
excludes mortgages and all debt secured by real estate.
(Source: The Federal Reserve, G.19 Release, viewed May 4,
2006)
Mortgage debt outstanding in the U.S. was $8.6 trillion at the
end of 2005.
(Source: The Federal Reserve)
Fifty-six percent of Americans carry over their credit card balances
from month to month. (Source: The Federal Reserve)
The number of consumer bankruptcy filings over the past decade
equates to one in every seven U.S. households.
(Source: American Bankruptcy Institute, ABIworld.com)
The number of electronic payment transactions surpassed the number
of check transactions for the first time in 2003. There were 44.5
billion electronic transactions and 36.7 billion checks paid in
2003.
(Source: The 2004 Federal Reserve Payments Study, December
2004)
The number of bounced checks in 2003 was approximately 200 million,
for a value of approximately $151.2 billion. This averages out
to 548,000 checks bounced every day, for a value of $414 million.
(Source: The 2004 Federal Reserve Payments Study, December
2004)
Average college tuition and fees at four-year public institutions
during the 2005/06 school year rose 7 percent over the previous
year to $5,491. The increase at four-year private institutions
was 6 percent, for an average $21,235 in 2005/06.
(Source: The College Board, Trends in College Pricing 2005)
Seventy-six percent of college undergrads have at least one credit
card. The average student owes a balance of $2,169.
(Source: Nellie Mae, Undergraduate Students and Credit Cards,
May 2005)
