The brand-new "Get Smart About Credit" campaign, engineered by Wells Fargo, helps Latinos and others toward financial independence by offering Wells Fargo customers an opportunity to obtain a free copy of their credit score and a complimentary credit report from now through Nov. 16.

The initiative was developed after a survey revealed that 64 percent of respondents believe that they have to have a "very good" credit score when pursuing home ownership. However, that's just one of many misconceptions that surround credit scores.

An educational initiative coincides with the free credit score promotion, endorsing credit health and wellness through a series of tips that help one to succeed financially.

"A recent Wells Fargo survey said 27 percent of Americans are more worried about their financial health than their physical health," said Gary Korotzer, an executive vice president in Wells Fargo's Consumer Credit Solutions Group. "In much the same way an annual check-up helps us stay physically healthy, consumers can take control of their financial health by regularly checking their credit and taking steps to improve it."

More than 800,000 customers and team members have taken advantage of the offer since it was developed in 2012. In its third year, the Wells Fargo's Free Credit Score promotion coincides with the American Bankers Association's "Get Smart About Credit," which is a national network of volunteer bankers who work with young people to raise awareness about the importance of responsible credit use. Wells Fargo has set a goal of reaching at least 60,000 people in classrooms and community centers across the country to teach credit lessons.

Tips for Credit Health and Wellness

Strong credit profiles are so important. They help consumers qualify for lower interest rates, which is important for countless reasons. Yet, many don't consider their credit situation until they're interested in getting a loan. Here are some tips from Wells Fargo:

1. Check your credit report annually. Be sure that your credit report has current and accurate information. Errors could reflect negatively, and it could be a sign of possible identity theft. Request a credit report for free at least once a year from AnnualCreditReport.com or call toll-free 1-877-322-8228.

2. Pay your bills on time. Payment history is one of the biggest factors in credit score, including the on-time payment of rent and cell phone bills. Also, using free financial tools online, and online banking, can help one to develop a budget and create an automatic bill payment schedule.

3. Keep debt at no more than 35 percent of your gross monthly income. Lenders view the amount of consumer-garnered debt, and they compare it to monthly income when making credit decisions.

4. Understand how strong credit impacts your bottom line. Less is paid in interest over time if the interest rate is lower. And credit scores influences the interest rate one qualifies for. Many sites offer calculators that help consumers understand how interest rates impact payment and the total cost of a loan.

5. Establish and maintain healthy credit - even if you don't need a loan. Insurance companies, cell phone companies and landlords look at credit scores, not just lenders.

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