Let’s talk
We’re here to work with you
for the long term. Let’s set
up a meeting to discuss your
financial situation and see what
we can do to help.
Banker’s name: Phone number: Location: Date: Today, Americans continue
to find it challenging to
manage credit.
Wells Fargo would like to
help you by providing the
information, services and
tools you need to better
manage your credit now
and for the future.
To learn more about
managing your credit
in today’s environment,
we invite you to visit our
TM
Smarter Credit website and view our
education videos on:
Understanding credit: An introduction
What lenders look for: The Cs of credit
Establishing and improving credit
Protecting credit by preventing identity
theft
wellsfargo.com/smarter_credit
© 2012 Wells Fargo Bank, N.A.
All rights reserved. Member FDIC. NMLSR ID 399801
HEL5925 01/2012
Want to better manage
your credit situation?
Here’s how.
Cr
Take charge of your credit—here are ways we can help
The first
step is to
understand how
credit is evaluated
Lenders consider five key factors in the loan
evaluation process. We call them the Five C’s:
1
Credit history:
Have you established credit and is your
credit score high enough to qualify you?
2
Capacity:
Is your income sufficient to carry your
current debt plus more?
3
When applying for Secured Loans
Collateral:
Does the collateral you are borrowing against
have a high enough value?
4
Capital:
Do you have personal liquid assets set aside as
a secondary source for repayment?
5
Conditions:
Does the economic environment or purpose
of the loan make it a risk?
Situation
Immediate steps
Wells Fargo resources available to you
Not enough
credit history
 Get and responsibly use a secured credit card
 Take out a loan with a co-borrower
 Visit the Smarter Credit web site to find out more about
establishing credit at www.wellsfargo.com/smartercredit
 Keep most of your accounts in one bank—it shows stability
 A Wells Fargo Secured Credit Card1 is a great start
 Wells Fargo CD/Savings secured loan/line offers easy qualification even if you
have no credit history—it just takes a savings or CD that can be used to secure
the loan/line3

Identity Theft Protection2 monitors your credit file for suspicious activity
Less than perfect
credit history
 Check your credit reports annually for free
(annualcreditreport.com)
Correct any mistakes on your credit reports
 Pay down high interest rate debt first
 Pay more than the minimum amount due
 Be sure to pay bills on time
 Don’t open new credit accounts you don’t need
 Develop a budget and maintain it
 Get confidential help from a certified, non-profit counselor at
CredAbility, call 1.800.251.2227 or visit www.CredAbility.org
 Online Banking helps you stay on top of your finances:
-Account Alerts: free on your savings, credit card and mortgage accounts
-Online Bill Pay2: makes payments easier
 My Money Map helps you map your own financial plan and see your finances
in a whole new way. With one click, you can view your spending, budgeting and
savings in easy-to-understand charts.
-My Spending Report with Budget Watch helps you maintain your finances
and displays your spending at a glance, summarized in one free online report
-My Savings Plan® is a free online tool that helps you
set and reach your savings goals by letting you set up
automatic transfers into your account
 Auto-pay makes sure your bills are paid on time
 Wells Fargo CD/Savings secured loan/line offers easy qualification even
if you have no credit history. It just takes a savings or CD that can be used to
secure the loan/line.3
 Identity Theft Protection monitors your credit file for suspicious activity
Too much debt
for your income








Consider other income sources not listed on your application
Consider a co-borrower on your loan
When possible, consolidate debt into a lower interest rate
Pay off high interest rate debt first
Pay more than the minimum amount due
Build your savings
Develop a budget and maintain it
Get confidential help from a certified, non-profit counselor at
CredAbility, call 1.800.251.2227 or visit www.CredAbility.org
 Online Banking helps you stay on top of your finances:
-Account Alerts: FREE on your savings, credit card and mortgage accounts
-Online Bill Pay2: makes payments easier
 My Spending Report with Budget Watch helps you maintain your finances and
displays your spending at a glance, summarized in one free online report
 My Savings Plan is a free online tool that helps you set and reach your savings
goals by letting you set up automatic transfers into your account
 Direct Deposit automatically deposits your paychecks into your account for
convenient access to your funds
You haven’t established a credit
record to qualify you yet. The earlier
you establish your credit, the better.
Delinquent payments have a
negative impact on your score. If
you missed payments, get current
and stay current. Even if you pay off
a delinquent account, it can stay on
your report for up to seven years.
Your current income is not enough
or consistent enough to qualify you.
This depends on your income and
outstanding debt relative to your
income.
When applying for Secured Loans
Insufficient
collateral value
In the case of secured loans, the value
(equity) of the collateral you’re using
to secure the loan is not sufficient for
the amount of the loan.
Real estate:
 Pay extra on your mortgage payments
 Make one extra payment a year to build equity
 Monitor local real estate trends for potential increases in value
Other:
 Consider using the value in a CD or savings account as collateral
for a secured loan3
 Sign up for Wells Fargo Mortgage Rate MonitorSM Alerts at wellsfargo.com/
trackrates
 For Wells Fargo Home Mortgage customers, sign up for Preferred Payment
Options to pay down your mortgage faster
 Talk to your banker about applying for a CD/Saving Secured Loan
Subject to credit qualification.
Service provider fees may apply.
3
For Wells Fargo CD/Savings Secured loans/lines and Secured Credit cards collateral is required to be in a Wells Fargo Bank approved deposit product.
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