Magazine article American Banker

Lead Generator Pitching Book on Scores to Banks

Magazine article American Banker

Lead Generator Pitching Book on Scores to Banks

Article excerpt

Credit.com Inc., a San Francisco credit card lead generator, is telling financial institutions they should give their customers a book one of its executives has written on financial literacy and building good credit.

John R. Ulzheimer, the president of Credit.com's educational services and a veteran of the credit bureaus, wrote "You're Nothing But a Number, Kid," which was published this year. Adam Levin, the lead generator's president, said that it has been talking to Wachovia Corp., Stanford Federal Credit Union of Palo Alto, Calif., and the First Command Educational Foundation, a Fort Worth nonprofit that offers financial advice and scholarships, about selling them the book at wholesale price and would be talking to more institutions.

The subprime mortgage meltdown has helped make financial literacy a hot topic.

Mr. Ulzheimer, who worked for 15 years at Fair Isaac Corp. and Equifax Inc., said in an interview Tuesday that the book helps institutions draw better borrowers and win their loyalty. "The financial institutions' reputations isn't excellent" with consumers, and handing out this book can show that a lender cares about them.

He also said his book benefits from his extensive knowledge of credit reporting. The book covers topics such as how a divorce affects the scores of both spouses. A chapter on "The Top 12 Credit Myths" advises consumers never to cancel a credit card, that a credit history is repairable, and that consumers must fix errors on their history with all the reporting agencies. …

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