'Get Smart About Credit Day' Provides Chance To Improve Financial Literacy

National initiatives to help consumers overcome debt and improve their credit have grown since the onset of the recession. "Get Smart About Credit Day" on Thursday, October 21, is intended to provide resources and education on ways to improve credit, manage money wisely and reduce debt.

The American Banker's Association, which sponsors the initiative, says the day brings together banks and consumers and allows them to work together to explore ways to develop smart credit habits. Participating banks provide lessons on paying on time, borrowing and using credit wisely.

"If credit came with an owner's manual, it would be filled with the tips and secrets bankers will share today with young adults," ABA Education Foundation executive director Laura Fisher said. "If you already have a credit card in your wallet, give yourself a credit tune-up. Whether you download your free credit report or research identity theft prevention, turn off the auto-pilot and take control of your credit today."

Consumers seeking debt relief services, money management advice or financial literacy tips should also consider visiting a credit counseling center. Financial professionals can help consumers create a budget and explore ways to reduce their debt.