Credit card firms offer financial education

The very credit card companies that charge $35 late fees are increasingly offering financial education that they hope will reduce cardholder delinquency.

Wells Fargo, U.S. Bank and Target Financial Services developed pilot programs for at-risk or new-to-credit customers in 2003 with the Responsible Credit Roundtable, a group with members ranging from credit card executives to credit counselors.

The Roundtable, which aims to help consumers manage credit as well as to improve industry practices, was developed at the St. Paul Foundation and recently moved to the Center for Financial Services Innovation in Chicago.

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