Consumer Payment Card News

Debt Tools

One of the nation’s most stable and largest banks has unveiled a new tool kit for customers to fight the debt beast. Wells Fargo has rolled-out “Debt Pay Down Solution,” “Cash Back Cards,” and “Smarter Credit.” The “Debt Pay Down Solution” enables customers to consolidate high-interest debt and lower monthly payments through a Wells Fargo personal loan. Customers use the new Wells Fargo “My Spending Report with Budget Watch” to find opportunities each month to spend less and then transfer the extra money to the principal of the new loan. The “Cash Back Card” and the new “Cash Back College Card” offers a full 1% in cash back. Once customers have earned $25, they can apply the reward toward a personal loan or line of credit or to decrease their card balances, add the cash to their savings/checking accounts or get it in a check. Customers also can add their “Check Cards” to the “Cash Back” program at no cost to earn 0.25% on their signature debit card purchases. The “Smarter Credit” program assists customers to establish or rebuild credit, including information on how to order free credit reports and learn money skills for life through Wells Fargos “Hands on Banking/El futuro en tus manos” program. Highlighted throughout is “3 Steps to Smarter Credit Choices.” For more information visit: “http://www.wells”:http://www.wells

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