by Lawrence Bland | Jun 22, 2020 | Credit Report, Credit Security & Protection
You should know that identity theft has become worse with the major problem of shopping online. There are sammers that are setting up clone web sites like the ones that are very popular to make purchases so that they can fool you to enter your personal information. You can also have your personal information stolen by not disposing of bank statements and other pieces of mail properly. You need to shred anything that has your personal account information and social security number immediately. This will help protect your identity and your good name as well.
Any woman that knows that it is very scary to have your purse stolen. This is going to cause a dreaded nightmare. You will end up losing your money and all of the things that are in it. You will have to get all of your personal information cards cancelled or replaced. You will have to have your debit account closed or changed. You do not want your bank account to be completely emptied by someone that has your debit card number. If you do not freeze your accounts and stop this from happening you will be broke. The other important things that you will need to do are to file a report with the police and place an initial fraud report on your credit report.
You will be taking a chance anytime that you give your personal information on the phone or Internet. Before you enter your personal information like your credit card number to make a purchase, make sure that you check the web address to be sure that you are on the companies official web site instead of a fake clone with the same appearance but with a very wrong address. This is something that is often not taken into consideration and many thieves have exploited this issue too many times. If you see this happening, you should report the fake site to the official site and this can help to prevent any other person from fraud by this company. This is going to help save your own credit and keep you save from anyone that is looking to take over your identity.
The right thing to do id you feel that you are a victim of identity fraud is to get an very accurate credit report and look for the activity that you are sure of that is not yours. In the event that you do find a new account is open or activity is not anything that you did contact the companies and try to get the signatures that was made by the thief. The faster that you do this means that you will find it easier to keep your credit report safe and unharmed. Make sure that you are taking note of every action that you take and make sure that you are asking many questions about your credit score to make sure that is all correct as it should be.
by Lawrence Bland | Feb 18, 2020 | Debt
The credit card business is one of the most competitive industries there is. You can tell that because you no doubt get dozens of invitations for new credit cards every week. That is because the only way a credit card company can continue to grow new business is to steal the business away from another credit card company. It isn’t really a business where there are a lot of new customers coming into the market. The types of accounts the credit card companies want are people who are carrying a lot of debt, who continue to pay on the debt but never pay it off and who have no history of defaulting on their loans. If that describes you, then you are on the A list for a potential customer for a credit card company.
If you have a lot of credit card debt, it really isn’t that flattering that other credit card companies want your business. Even more infuriating is when a credit card company who already has you in debt sends you offers for still more credit cards. But there may be a glimmer of light in this tough situation. You might be able to leverage you’re “A list” position with the credit world to find a way to manage your credit card debt more successfully.
Typically if you have three or four or more credit accounts, the credit ceiling on those accounts probably have gotten pretty high. That is because, as we just reviewed, if you carry debt but pay on it, that sets a cycle in motion for the credit card companies to offer you as much debt as they think you might use so you can owe them even more money. Again, while this seems cruel and heartless, that is how these folks make their living so they have to find some way of attracting the debt of the A list customers.
But another method they also use is to offer you an attractive rate of interest to either start a new account or transfer debt from an account you have to your existing account. A common “come on” is to offer you zero percent financing which seems wonderful because in theory you could transfer all of most of your debt to the generous company and not pay any interest which would greatly speed your pay off.
Transferring balances has its good side and its negative side and you need to be smart about both. Read every word of the offer, even the small print on the back of the page because you must understand any hidden fees you might face if you accept their generosity. Almost always the zero percent or low percentage rate is for a very limited time of perhaps three or four months. In credit card land, this is a heartbeat. Then once they have your account balance of your debt built up, they can jack your rates up and you are right back where you started.
So be smart about using these kinds of offers. A great tactics is simply to transfer a fairly small amount of your debt to the zero percent offer. Transfer $1000 and then pay it off over the three to four mouth period. You win because you paid no interest and they lose because they can’t sting you with a high interest rate at the end. Also be aware of any transfer fees or membership fees if you are taking out a new card. These fees can amount to additional interest and negate much of the benefit. But if you are smart and use these offers shrewdly, they can be terrific ways for you to drive down your credit card debt surfing “come ons” from the credit cards companies in a clever fashion.
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