Financial Literacy

Credit When Credit is Due (CWCID) Program

The concept of the Credit When Credit is Due (CWCID) program is similar to the familiar driver’s education course. When people successfully complete driver’s education, auto insurance companies recognize them as better driving risks and accordingly grant discounts on insurance premiums. The same theory applies to consumers who are borrowing money or applying for credit. Individuals who successfully complete the CWCID program are better equipped to handle their finances.

The primary tool in the program is a twelve-lesson workbook, Credit When Credit is Due, which is available in Spanish CRÉDITO AL MÉRITO, in audio, video, and online. The course is designed to give consumers the information they need to understand how credit and debt work and to develop responsible money management strategies.

CWCID may be taught by a facilitator/teacher or a student may opt to self-study the program. Tests follow each lesson and are evaluated on a pass/fail basis. When students successfully complete the program, they will be registered in a national database and sent a registration card identifying them as a graduate of this national standardized credit education program. Additionally, they will receive three cards addressed to the three major credit-reporting agencies that will allow them to add a positive statement to their credit report. Graduates will also have access to a growing list of financial advisors, lenders, mortgage companies, and others that provide discounts on the pricing of their services.

Why should you take this course?
The American Center for Credit Education encourages you to take this 12-lesson course if you are:

  • Applying for a loan
  • Asking for a credit card account
  • Wanting a discount on a loan from a participating lender
  • Trying to establish credit for the first time
  • Experiencing a life-style change such as getting married, having a baby, getting a divorce, or thinking of retirement
  • Presently enrolled in a debt management program
  • Thinking of declaring bankruptcy