Arizona CBOs learn about credit cards

Consumer Action hosted a free train-the-trainer conference in Phoenix, AZ, to help community-based organizations obtain the information and tools they need to educate clients about using credit cards. The Oct. 23rd training was part of an educational partnership created by Consumer Action and American Express called “Credit Cards: What You Need to Know.”

Even though most people use credit cards, the majority of them do not understand the terms and conditions of the agreement they have with their credit card issuer. Because community organizations play a key role in helping consumers understand how credit cards work, Consumer Action developed two educational modules that contain multilingual brochures, a training manual, a training guide, and PowerPoint presentations.

Community-based organizations from Arizona gathered in Phoenix to learn about these educational modules, which provided them with a background on the different types of credit cards that are available to consumers and how to teach people to compare credit card offers, understand terms and conditions, maintain their accounts in good standing and avoid unnecessary fees and penalty interest rates.

Linda Sherry, Director of National Priorities, and Joseph Ridout, Consumer Services Manager for Consumer Action, also shared with participants the latest trends of the industry and the results of Consumer Action’s 2007 Credit Card Survey. Conducted between Oct. 9, 2006 and March 2, 2007, the survey examined 83 cards from 20 banks. The findings discussed at the training included universal default practices, changes of terms and conditions, policies for minimum ages for authorized users and arbitration clauses. To read more about the survey, click here.

Ruth Susswein, Deputy Director of National Priorities, presented on Families and Credit Cards, the second module created by Consumer Action under this partnership. The materials are designed to assist parents who are weighing the pros and cons of giving their children credit cards. During a lively discussion and group activities, participants recalled their parents’ use of credit and shared their views on the positive and negative aspects of giving credit cards to children and adolescents. Susswein’s presentation also covered requirements and policies for adding “authorized user” cardholders to an account, the recent changes on FICO scores and authorized users, and how to help young children understand the importance of good credit. 

To read and download Consumer Action’s credit card modules, click here. For pictures of the “Credit Cards: What You Need to Know” training, visit our Gallery of Events.