September 16, 2008
HP-1139

Treasury Launches Multi-Media Campaign to Help Young Adults
Control Their Credit

Washington - The U.S. Treasury Department unveiled a new multi-media campaign today aimed at combating financial illiteracy among young adults. The ad campaign, featuring an interactive online game and radio and television spots, warns its audience, "Don't let your credit put you in a bad place."

"Many consumers need to better understand how to control their credit," said U.S. Treasurer Anna Escobedo Cabral. "It's especially important that we reach young adults with this information. Our research shows that the relationship between financial decisions made early in life and their credit scores too often remains a mystery for many young adults."

Presented in partnership with the Ad Council and created pro bono by Lowe Worldwide, the campaign is designed to encourage young adults ages 18 to 24 to take control of their credit. Radio spots and web content in English and Spanish demonstrate the consequences of developing bad credit at an early age, such as being declined future employment or denied a car loan. Every advertisement ends with the tag line, "Don't let your credit put you in a bad place."

"Consumers can face serious problems when they make uninformed choices about borrowing," said Dan Iannicola, Deputy Assistant Secretary for Financial Education. "The goal of this campaign is to equip Americans with the knowledge to take advantage of the positive aspects of credit, while avoiding its pitfalls."

The campaign features a new website, www.controlyourcredit.gov, where the audience can play an online game, The Bad Credit Hotel. The website also provides free financial information and tools.

The announcements will air in advertising time and space donated by the media.

Click here to watch the television spots and listen to the radio spots.