5 Killer Steps to avoid Credit Card SCAMS!
In August, 2004, the Federal Trade Commission issued their findings of a recent study, which showed that nearly 25 million adults were victims of fraud.
Now, most importantly, If you are a victim of fraud, please do not feel like you did anything wrong. It happens to all of us at one point or another, as the FTC's study clearly shows. Everyone likes a magic trick, and none of us are fully capable of noticing the con-artists' slight of hand. So, if you're a victim, take a deep breath. You're normal.
But, there's an old saying that goes something like this: Fool me once, shame on you?Fool me twice, shame on me!"
Here are 5 KILLER STEPS to protect yourself from Credit Card SCAMS!
1. NATIONAL NO-CALL REGISTRY:
There's nothing more annoying then those credit card offers that you get over the phone. I don't know about you, but the last thing I want to be doing, while having dinner with my 1 year old daughter and my beautiful wife, is to be annoyed by phone calls from solicitors that just want to make money off me. Legitimate or not, these calls are a nuisance. If you're like me, and you would rather live without dealing with these calls, then go do this:
Join the FTC No-CALL-Registry, and enjoy a reduction in telephone solicitation phone calls.
2. TELEPHONE SOLICITATION:
Believe it or not, the vast majority of lenders out there are legitimate. Also, believe it or not, a lot of these lenders utilize telemarketing as a method of reaching out to potential customers.
Who is this on the phone? Don't trust people you haven't had a chance to get to know. Don't let one enticing offer on a phone call, be your guide...
3. 1-900 NUMBERS:
A 1-900 number is, of course, a phone number that charges the caller per minute for making the call. Whether it's a 1-900 number, or a future manifestation of the same type of telephone service, be wary of doing business this way.
Use your common sense, and don't fall prey to the con artists slight of hand, such as the Advance Fee Load Scam...
4. ANNUAL FEES, INTEREST RATES, ETC.:
Credit Card Scams come in all different shapes and sizes. Many of them are, arguably, not scams at all, but let's just call them credit card offers involving consumer unfriendly terms.
c) Make sure you know what you are getting. Some offers are for secured cards, some are for unsecured cards, and some offers are for shopping portals online and offline (Like a department store card). So, while none of these are scams, by definition, it is important that you fully understand the terms of the credit card offer that you are agreeing to.
Be a responsible consumer, and read the terms and conditions of your credit card offer...
5. THE UNITED STATES FEDERAL TRADE COMMISSION::
The best place to go for direct consumer information, protection, and remedy, is the United States Federal Trade Commission...
The FTC is there to help...
Use the No-Call Registry to cut down telephone solicitations in your home and places of business. While many legitimate lenders utilize telemarketing, be careful. Don't give out personal information to people you don't know, don't pay up-front processing fees over the phone, and get everything in writing. Consider yourself an advised consumer on "Advanced Fee Load" Scams, and look out for the signs, when these scams regrettably make their way to you. Read the terms of the offers that you are considering, and utilize the FTC website for trusted information, resources, and all related materials on consumer credit card issues.
We've enjoyed providing this information to you, and we wish you the best of luck in your pursuits. Remember to always seek out good advice from those you trust, and never turn your back on your own common sense.
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About The Author
Tom Levine provides a solid, common sense approach to solving problems and answering questions relating to consumer loan products. His website seeks to provide free online resources for the consumer, including rate-watch, tips and articles, financial communication, news, and links to products and services. You can check out Tom's website here: http://loan-resources.org, or you can email Tom at email@example.com.
Copyright 2004, by Loan-Resources.Org
Tips for Credit Card Surfers
Moving money from credit card to credit card to take advantage of interest free balance transfers and effectively borrowing money for free. It's even possible to make money by borrowing money, transferring the debt to an interest free card and investing the cash in a high interest savings account until the interest free period expires.
The FICO Score Misconceptions
There are many misconceptions about credit scores out there. There are borrowers who believe that they don't have a credit score. There are others who think that their credit scores don't really matter. These sorts of misconceptions can hurt your chances of gaining employment, obtaining preferred interest rates, and even your chances of qualifying for renting an apartment.
Credit Score ? for Scoring the Right Loan
Somebody once said, "There is always a way of knowing your limitations and going beyond it." It is fundamentally true with respect of credit score. There can be nothing more rewarding during loan borrowing than knowing your credit score. There are many people who are practically unaware of what their credit score is; in fact they don't even know what it means. This credit scoring system has been used since many years to decide whether a borrower is a credit risk or not. Your credit score is immensely decisive in the acceptance and rejection of your loan application.
Choosing The Best Credit Card To Apply For
Always shop around to get the best deal when choosing which credit card to apply for. If you don't do your due diligence you could end up with a card that has too high of an interest rate, that has an unnecessarily high annual membership fee, etc. Here are some things to look for when checking out the different credit card offers you may receive in the mail.
Credit Counseling: Could it Work for Me?
In the face of financial hardship, many seeking a responsible solution turn to credit counseling. Credit counseling is, all too often, the last stop before bankruptcy. That is, of course, not to say that credit counseling prevents bankruptcy altogether. There are more cases than one might think that end up in bankruptcy court after credit counseling has failed to remedy the financial woes of the debtor.
Credit Repair Services vs. Do-It-Yourself Credit Repair
Millions of Americans suffer because of bad credit these days, and almost all of these people turn to the Internet for help. In the past 5 years hundreds of 'internet-based' credit repair services have sprung up, preying on consumers in need of real help. Most of these companies have built less than desirable reputations by over-promising and under-delivering; all the while taking millions of dollars from those in need.
Minimum Credit Card Payments to Rise
For years, major credit card companies have allowed cardholders to make minimum payments of 2% of the outstanding balances on their credit cards. Having customers pay the minimum doesn't reduce the balance by very much, but when the 18-30% interest rates that many credit cards charge is applied, the result is a profitable ones for the banks that issue credit cards. A balance of $1000 can take nine years to pay off at 20% interest if the borrower only pays the minimum due each month.
Credit Reports Inside and Out
The Credit Report is like your scorecard in the lending world. Every time you prepare yourself to acquire or purchase something that requires financial assistance from a lending institution, your credit report will be your "presentation card".
Small Business Credit Cards
So what do you look for when applying for a credit card for your small business? One thing is for sure, wasting money isn't an option because it can make or break your business. Things to look for are low interest rates and good customer service.
Your Consumer Rights
If you have ever fallen behind on your debts you already know that dealing with your creditors can be a hassle. Sometimes it can be downright humiliating. It doesn't have to be that way.
Credit Cards - A Blessing or a Curse?
Owning a credit card can be quite an advantage. Whethermaking online purchases, booking an air ticket or a hotelroom on the phone or simply being in need of someemergency cash, having a credit card can be a big help.However, getting a credit card is also a hugeresponsibility and if you don't keep an eye on yourspending habits, credit cards can create some seriousproblems. Here is an excellent list of tips on propercredit card use and if you follow these, you will likelystay out of trouble and your credit card will be ablessing instead of a curse:
Credit Cards - Why Prepay?
With prepaid credit cards, you get the practicality of plastic while choosing exactly how much debt to charge. By taking charge of your personal financing, you determine your own limits, to the penny, and change them any time you need to.
What You Need to Know About Interest Rates
For all people shop around for the best rate, there are few who have taken the time to sit down and add it all up. After all, why would you bother? The answer is that understanding just how interest rates work can help you see how important small differences in rates and payment amounts can be.
Rewards Cards - Are They Right For You?
Rewards cards have become the latest rage in the credit card industry. In the past, consumers shopped for credit cards that offered the lowest interest rate. Next came cards with low interest rates and no annual fees. Today, consumers can shop for cards based on what type of "reward" they can earn for using a specific issuer's card.
Credit Cards or Store Cards - Which Is Better?
Identity Theft : They Got Him
His hard earned money? Gone. Creditors on his back everyday. Police knocking on his door. His family strained to the breaking point. He didn't do anything wrong but my business partner's life got turned upside down a few years back. He became a victim of what is now the fastest growing crime in the world. Identity theft.
Credit Worthiness is an important business and personal asset each person has to manage. I mean this is an asset which could make or break business relationships and interestingly in some cases personal relationships. This is a complex abstract thing that is evaluated in many ways by different entities. What factors contribute to the credit worthiness is really dependent on the case for which this is evaluated. Mostly for small debts or purchases the credit worthiness is just a credit card reference, but for larger one it starts with that but really ends with a personal visit by evaluators. The typical purchases where your credit worthiness dictates your payment terms are credit cards, real estate purchases, business credit, and any type of loans. This is also used to judge the qualification of foster parents, just to mention a diverse application of the concept. Given that the number of factors that contribute to this worthiness, it is worth noting the few important ones. And try to make sure your credit worthiness is in the positive side.
Ways to Look Good without Selling Your Soul to the Credit Card Sharks
1. Buy clothes at thrift stores. BEFORE you buy them, however, hold the clothing to the light to make sure there are no tears, check the seams under the arms, make sure the buttons are all there, and don't buy anything that you can't try on.
Comprehending a Credit Report
Obtaining a credit report is an excellent way to begin taking control of your financial future. It's recommended that you review your credit report once a year, not only to be aware of your standing with creditors but to also keep abreast of errors and fraud. However, once your report arrives you may have trouble making sense of it. How are you to read and understand a credit report?
Identity Theft ? Who Would Want Mine?
With all my bills who would possibly want my credit? Let them steal my identity and pay my bills! Unfortunately, that's not the way it works. Many of us mistakenly believe that identity thieves hit only the wealthy. Nothing could be farther from the truth. The average person is often more vulnerable that those we consider wealthy?
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