HSBC North America, the company that used to be Household Finance and related businesses, is offering consumers a source for educating themselves on credit scores. The site is badly needed, according to an HSBC survey.
The survey found that 7 of 10 consumers don't know what condition their credit score is in, nearly half don't know what goes into the scoring process and 74 percent don't know how to improve their credit.
To close that information gap, the company launched "Your Credit Counts," a financial education program with a Web site (www.yourcreditcounts.com) about borrowing, savings, and credit management. To provide an incentive to consumers to visit the site, the company is offering a $50,000 sweepstakes contest.
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