SAINT PAUL, MN – Credit plays a large role in our daily
lives, yet many of us do not know how to navigate the credit arena. Low credit
scores can have a wide-sweeping impact – from being denied credit or loans, not
qualifying for the best interest rates or lowest insurance premiums, to not
securing employment. There are many steps we can
take to protect and build good credit and as part of Financial
Capability Month, the Minnesota Department of Commerce is providing a Credit
Guide and an opportunity to secure your identity with “Shred It” events across
the Twin Cities on Saturday, April 12.
“Protecting your identity and good credit are
critical to financial security,” said Commerce Commissioner Mike Rothman. “You
can protect financial security and achieve savings by safeguarding personal
information, knowing your credit score, and following the tips to improve a
credit score.”
This month, the University of Minnesota Extension,
Center for Family Development and the Minnesota Department of Commerce are
collaborating on a set of five guides to help Minnesotans start on the path to
financial security. The guide, How is your Credit? provides a wide variety of resources to help protect or
repair credit. The strongest defense from criminal damage to your credit
score is to shred documents that contain personal identification like social
security numbers, drivers’ license numbers, and birthdates. Here’s how:
Secure
Your ID Day
The Commerce
Department, Better Business Bureau, and US Federal Credit Union are teaming up
for a Shred Event on Saturday, April 12 to help protect personal information
from falling into the hands of criminals.
Saturday,
April 12, 2014
9:00 am –
12:00 pm
Locations:
US Federal Credit Union locations in Bloomington, Burnsville, Fridley, Lakeville, or Shakopee
For more
information about how to secure personal document and ways to prevent fraud,
visit the Better Business
Bureauand the Minnesota Department of Commerce websites.
Building and
Maintaining Good Credit
In our
complex economic conditions, it is essential to have a clear understanding of
credit. Commissioner Rothman hosted Darryl Dahlheimer, Lutheran Social
Services Financial Counseling Program Director to explain what everyone should
know and do to protect their finances and gain control and confidence about
money. Listen to this installment of Minutes with Miketo learn the top 5 things you should know about personal finance.
We are here
to help.
If you have
been a victim of a scam or fraud, contact the Department of Commerce Consumer
Response Team at 651-539-1600 or 800-657-3602 in Greater Minnesota.
