How to use credit wisely? Citibank book provides the answers

Market leader tells you everything you need to know about credit with new book

MANILA — Now, Filipinos can learn everything they need to know about how to better manage credit in 52 reader-friendly pages with Use Credit Wisely, the latest phase in Citibank’s ongoing financial education campaign.

According to Country Business Manager for Global Consumer Group Mark Jones: “As the market leader in credit cards, and a key player in consumer finance, we believe in empowering our clients not only with world-class and relevant products and services, but also the information to use these wisely.

Following the successful launch of a website in the same name (www.usecreditwisely.citibank.com.ph) in 2004, and its subsequent translation in the local language a year later, the Use Credit Wisely book is expected to make credit information even more accessible.

“We’re very happy to take our credit education campaign to the next level. We started with a website because that allowed us to offer a comprehensive resource on credit and financial management on a channel that was accessible to clients and non-clients alike,” related Jones.

“In an effort to reach out to a wider audience, we offered a version in the vernacular language and worked with National Artist for Literature Virgilio Almario to ensure that we will have a faithful translation. Unfortunately, Internet access is still limited in the country and this is why we saw the need to develop a handy reference guide that we can readily distribute to targeted publics.”

Just like the website, the book has three major sections: Know the Rules, which gives users information on all things about credit and how credit cards work; Spend Responsibly, which contains discussions on gaining financial control and handling hard times such as living with a disability or how to cope following a marriage breakdown; and Be Protected, where readers are treated to information on fraud prevention, identity theft and knowing their legal rights.

What’s more, the book offers worksheets to make the discussion more interactive. Readers are encouraged to take a short quiz to determine if they need a credit card, or take a test to see their preparedness in case of a financial emergency.

Without a doubt, the book, like its online predecessor, will prove to be an invaluable tool to people who want to make the most out of their credit, while steering clear of financial crisis brought about by credit misuse.

Citibank Philippines will soon make the rounds of companies to share its advocacy on Use Credit Wisely, as part of its efforts to help its credit cardholders and the public better manage their credit. Use Credit Wisely is just one of Citibank Philippines’ planned initiatives lined up this year to promote financial literacy in the country.

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[tags]credit, credit cards, credit card, citibank, philippines, credit management[/tags]