San Diego, CA.  "Are you unable to obtain a loan at a reasonable rate or forced into paying a higher deposit to a phone company or utility because of negative items in your credit report? If so, you are not alone. Millions of Americans have similar blemishes on their credit files causing them to be denied for a loan or pay higher interest rates if they do get a loan,” says the nonprofit Institute of Consumer Financial Education (ICFE), a San Diego based group that is making the self-study credit education program available for the first time.

Credit When Credit Is Due is a 12-lesson text, (also available in Spanish) written by Paul Strassels, one of America's premiere analysts on the subject of credit and debt, and the author of 14 books on personal finances.

The course is designed to help individuals gain a better knowledge of money issues and responsibilities revolving around the world of credit. The course is a self-study curriculum, with pass/fail tests following each lesson.

When students complete the course successfully, they will be registered in a national database and sent a registration card identifying them to lenders as graduates of a national standardized credit education program. This could entitle them to special consideration from participating utilities, mortgage companies and discounts, depending on the lenders’ discretion. They will also receive three cards addressed to the three major credit bureaus allowing them to add a positive statement to their credit reports.

The same theory applies to consumers who are borrowing money or asking for credit as the concept of the well-known driver's education course. When people take drivers education and learn the rules of the road and necessary driving skills, they are considered to be better drivers. Auto insurance companies recognize them as better driving risks and grant discounts on insurance premiums to those who satisfactorily complete the course.

Individuals who successfully complete the Credit When Credit Is Due program should be better able to steer their financial course in the future.

Who should consider taking this course? If you are a first-time credit seeker, a college student seeking credit, or an individual who has negative items on your credit report, this program should help you boost your credit rating and entitle you to other valuable benefits when seeking an apartment or insurance, etc.

The Credit When Credit Is Due course is also beneficial when applying for a loan, asking for a credit card account, seeking a discount on a loan from a participating lender, or experiencing a life-style change such as getting married, having a baby, getting a divorce, or thinking of retirement. Also if you are currently enrolled in a debt management program with an accredited, nonprofit credit counseling agency or thinking of declaring bankruptcy.

Now considered the nation's foremost credit education program, the 300-page Credit When Credit Is Due text will help users achieve security and financial stability by providing money management skills and proven techniques promoting an understanding of the wise use of credit.

The 12 lessons included in the Credit When Credit Is Due course are:

The cost of the 12-week self-study program is $50. Text books may be ordered from the the ICFE at
PO Box 34070
San Diego, CA 92101

or at the ICFE’s Web by clicking on the following link: Credit When Credit Is Due

Some of the incentives offered by banks and credit unions to Credit When Credit Is Due graduates include:

From 1/8% to 1% off on loan rates, scholarships, reimbursement off all or part of the cost of books, discounts on loan closing costs, waive membership fees, no-fee checking, waive credit report fee for mortgage loan applicants and waive loan processing fees. Participating banks and credit unions include but are not limited to: Kern Schools Federal Credit Union, Bakersfield, CA., Bakersfield City Employees Federal Credit Union, Orange County Teachers' Federal Credit Union, Orange County, CA., American River HealthPro Credit Union, Sacramento, CA, 1st Bank of Colorado, Denver, CO., Florida Central Credit Union, Tampa, FL, Tampa Bay Federal Credit Union, Tampa, FL., American Trust Bank, Dubuque, IA., Iowa State Bank, Waterloo, IA., Union Planters Bank, Waterloo, IA., US Bank and Wells Fargo Bank, Waterloo, IA.

Some of the incentives offered by mortgage companies to Credit When Credit Is Due graduates include:

Waiving credit report fees, .25% discount on loan origination fees, discounts of up to $1000 off loan fees, no-cost appraisals upon loan closing and a cash rebate of $500 once loan has closed. Participating mortgage companies include but are not limited to: Provision Mortgage Corporation, San Diego, CA., First Source Mortgage / MyWebLender.com, and Security Mortgage, Rapid City, SD
 

Some real estate companies offer a cash reimbursement of up to $75 upon real estate loan closing.

Participating real estate companies include but are not limited to: Century 21 Award and Coldwell Banker Associates Realty

Some utility companies will waive deposits.

Participating utilities companies include but are not limited to: NY State Electric & Gas, Black Hills Power & Light - Rapid City, SD Black Hills Electric Cooperative - Rapid City, SD West River Electric Association - Rapid City, SD Butte Electric Cooperative, Newell, SD and Avista Utilities, Spokane, WA.

For more information about the Credit When Credit Is Due course visit the ICFE's Web page at: http://www.icfe.info. To receive the same information by mail, please send $1 and a self-addressed, 60 cent stamped envelope to:

ICFE: Credit When Credit Is Due Course
PO Box 34070
San Diego, CA 92163-4070.