I Don T Even Have A Sears Credit Card! !" There Was The Usual Moment Of Silence

Category: Finance, Credit.

We all like to think we are in control of our own lives. That perception is a myth that can get you in serious trouble.

We feel confident that our unique identities, and even our, reputations credit scores are completely governed by our own actions. What if your reputation or financial status was threatened by an inaccurate credit score caused by erroneously reported information? If identity theft protection isn t a part of your life, how will you even know if this has happened? Or if your personal information was stolen by an identity thief who hacked into someone else s computer without your knowledge? I recently received an unsettling, but all too common, phone call from a friend. "After reading your newsletter, I thought it would be a good idea to order my free credit reports. I m stunned.

I never thought I had to worry about what they contained because I pay my bills on time. " From the tone of his voice, I knew what was coming next. "My credit reports just came in yesterday. I have over 14 accounts that aren t mine, and not only that, just this morning I received my first collection call notifying me that I owed more than$ 11, 000 on my Sears credit card. While he was still reeling from his news and the subsequent unnerving collection call, I was taking a deep breath, knowing that I was about to make his life worse by telling him about the slew of clean- up work he now had in front of him- through no fault of his own. I don t even have a Sears credit card! !" There was the usual moment of silence. The reality is that data breaches continue to happen, and thieves continue to find new methods to hijack and then sell our personal information. Private businesses, local, universities, state, and federal entities all have databases that thieves view as precious gold- they are hot commodities!

It s been reported that 10, 000 people will, 000 have their identities stolen this year and recent studies show 1 in 4 credit reports contain inaccurate and damaging data that will cause consumers to pay higher interest rates, lose employment and, insurance premiums rental opportunities, and face humiliating denials of credit. When crooks, and hackers gain, thieves access to one of these databases filled with your personal information, it s as though the thief has physical possession of you and hence, your life. When thieves use a young child s Social Security Number to gain employment or credit, that particular SSN can be bought and sold for as long as it goes undetected. Thieves can sell your information multiple times to multiple buyers. By the time the child is old enough to notice his/ her identity has been stolen- their credit has been all but destroyed and can take years to reclaim. Remember. it s much easier to be proactive when protecting your credit and identity than to be reactive once" you ve" been stolen. The lessons to be learned: look for and close out any old accounts and do not rely on others to safeguard your information!

Here are a couple of resources for identity theft prevention. www. attrition. org/ dataloss- A database that includes a running list of reported data breaches. This page is updated quite frequently and unfortunately, the list continues to grow. Have you been stolen? Annualcreditreport. com( The only legitimate place to obtain your annual free credit report. ) To get your report, call toll free: 877- 322- 822 National Do Not Call Registry: Call( 888) 382- 1222 or visit www. donotcall. gov to reduce telemarketing. 888) 5- OPT- OUT/ (888) 567- 8688 or opt out online at www. optoutprescreen. com to opt of pre- approved credit card offers.

Copy On Credit Ratings By Donald McNaught

Category: Finance, Credit.

Copy on credit ratings by Donald McNaught.

Supplied on behalf of Invocas Group plc by The BIG Partnership. Donald McNaught is a director of Invocas Business& Recovery Limited, which operates consumer debt solutions arm Newtomorrow. For more information contact Stuart Forsyth or Bryan Garvie on 0141 333 9585 or stuart. forsyth@ bigpartnership. co. uk/ bryan. garvie@ bigpartnership. co. uk. But what information does this record contain and how does it affect the way in which lenders assess how risky a borrower you are? When you apply for a loan, the amount of money you can borrow and, whether you can, indeed borrow at all, is determined by lenders through examining a record of your credit history and ability to service the borrowings from current income. Knowing what s in your credit history is key to understanding how to improve it because even the financially well- off can have unattractive credit ratings that put off prospective lenders.

The record contains your address, any court judgments, previous addresses or bankruptcies against you and a record of your payments to previous or current creditors. There are three main agencies in the UK that compile credit histories- Equifax, Experian and CallCredit. If you have been refused credit and you want to know why, the first thing you should do is obtain a copy of your credit history by writing to one of the agencies, whose details you can find online, with a �2 payment. If you fail to repay loans, or miss several repayments, then lenders fear they will not get their money back. The most obvious reason why lenders may refuse you credit is that your past payment performance has been less than satisfactory. The way to address this is by ensuring you don t miss any repayments, and the simplest way to ensure no payments are missed is to set up a direct debit which will automatically allow the lender to transfer repayments from your bank. This will make you less attractive to credit card lenders.

With credit card lenders however, whilst making timely repayments is looked on favourably, clearing the full balance each month is not- because the card companies don t make any money from charging interest on your borrowings. As far as they are concerned they could have kept the money you have used in the bank and earned interest that way. If you apply for credit from a number of sources in a short space of time, it can indicate a troubled financial picture, while not enough applications may indicate that you don t really require credit and therefore will not incur interest, thus limiting the profit for the lender. Other factors which affect credit ratings include the number of applications for credit you have made. Your traceability is also important. Likewise, being in employment or owning your own home and having lived there for several years, as well as having stayed with the same bank for a long time, makes you more attractive to lenders. Understandably, lenders prefer to give money to people they can find- so if you are not on the electoral roll, registering on this will help, as will obtaining a home telephone number if you do not already have one.

Other negative impacts on credit ratings include bankruptcy or court judgements against you. The lesson is to recognise how much credit you can afford to obtain and repay- as well as looking for the most attractive interest and repayment rates. While careless management of credit facilities can lead you to serious debt problems, being unable to access credit, or only being offered the worst interest or repayment rates, could be equally damaging. If you find yourself in financial difficulties speaking to a debt solution Company as early as possible is always a good idea.

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Chase Credit Card Corporation Is A Credit Card Brand Owned By JP Morgan Chase& Co, A Pacesetting World Fiscal Services Firm - Finance and Credit:

Firstly, if you re particular about your privacy and would like to sign up with an online credit card corporation that treats your personal details with the lots of respect, then find a credit card corporation on the Net whose site address begins with https.

What Kind Of Revenue Is Expected To Generate In The Business And So On - Finance and Credit Articles:

Commencing a new credit repair business might be extremely pleasing, but sensitively as, not only monetarily well, because through credit repair business opportunities, people will be able to get free of any debt and start life afresh. An individual need to consider credit repair business opportunities, since it offers very valuable information that will prove to be helpful for a person who is commencing a new credit repair business.

The Other Major Plan, The PLUS( Parent Loans For Undergraduate Students) Loan Plan, Supplies Over$ 8 Billion Per Calendar Year In Money To Parents And As Of July 1, 2006 Professional And Graduate Students Are Also Eligible For PLUS Loans, Providing Dollars To Parents To Assist Cover Expenses They Would Frequently Pay For Anyway, The PLUS Program Commonly Forms Part Of The Total Financial Aid Package Today

Category: Finance, Credit.

As part of any research when looking at your student loan consolidation information alternatives you need to consider the FFELP( Federal Family Education Loan Plan) .

Over 90% of the funds are directed by the two types of Stafford loan, unsubsidized& subsidized, in the second circumstance the Federal government pays the interest on the loan accrued whilst the student is in school and for a further six months afterwards, unsubsidized loans requires the borrower to be responsible for any interest, if the interest is deferred as it most often until after the grace period, it is then added to the primary total. The FFELP is a Federal Government private lender partnership scheme and umbrella program that includes both Stafford loans, PLUS loans and Perkins loans, setup by an Act of Congress in 1965, it began operation in 1966 and since this time over half a trillion in money has been disbursed with over$ 50 billion alone in 200 Money for Stafford loans, PLUS loans and other FFELP loans are provided through a large national network of credit unions, independent banks and other financial institutions, lenders will feel confident loaning dollars to what otherwise may be high credit risks because the money is in the end guaranteed, at least in theory via the Federal Government, private guarantors could possibly get involved, however in the almost 5% of cases where the loan goes into default, guarantors then apply for funds to cover the loss with the Federal Government for at least a partial reimbursement of any lost money. The other major plan, the PLUS( Parent Loans for Undergraduate Students) loan plan, supplies over$ 8 billion per calendar year in money to parents and as of July 1, 2006 professional and graduate students are also eligible for PLUS loans, providing dollars to parents to assist cover expenses they would frequently pay for anyway, the PLUS program commonly forms part of the total financial aid package today. Once the student and/ or parent accepts the package the money is disbursed, in the main twice per year once each semester, ordinarily with the biggest share of the funds going directly from the private lender to the school to pay for tuition and the remainder is then provided to the student or parent, these fees may, minus any charges range up to 4% or more, several schemes will charge a 3% origination fee and a 1% insurance fee, which they assign to the requirements of the Federal government with fees as high as 8% not being unknown, it s important to keep this information in mind when looking at any student loan consolidation information. Chiefly, all the services need a FAFSA( Free Application for Student Aid) application to be filled out, the data provided forms the core information that allows loan officers to make their funding decision, typically those decision makers are employed through the individual college at which the student is accepted, the financial aid department will make a suggestion for a package based in part on the EFC( Expected Financial Contribution) of the student and his or her parent( s) , analyzing income they aim to supplement any unmet need with combinations of subsidized and unsubsidized Stafford loans and other sources.

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Look For The Mortgage Lead Companies That Sell Their Mortgage Leads Fresh - Finance and Credit:

If you do decide to go with a mortgage lead company, look for the mortgage lead companies that sell their leads in" real time, " this way you will be getting fresh leads, and you will be able to count ontheir quality. This is imperative because many mortgage lead companies will sell their leads up to seven times and your customer may already be working with your competition and not feel the need to call you back.

This Gives You Enhanced Credit Card Options - Finance and Credit:

Gone are the days when heavy currency notes had to be carried along when you had major shopping plans in mind.

Things Are Always Changing In The Credit Card Industry - Finance and Credit Blog:

Things are always changing in the credit card industry. And let s face it, credit cards are in the business to make profit- just like any business.

Why A Bad Credit Credit Card

Category: Finance, Credit.

Use a credit card to get you out of the mess caused by credit cards?

The trick is all in choosing the right option and using it wisely. If you re trying to repair a damaged credit history, bad credit credit cards may hold part of the key. Your credit report is a listing of all sorts of information about you, including when and how you pay your bills, if you ve got overdue accounts, if you have a history of defaulting on loans and if it s safe to trust you with borrowed money. Bad credit credit cards can help you change the image that your credit report reflects- as long as you actually use them appropriately. On the flip side, it also can show that you handle money responsibly, that you ve paid off debts and that you are a fine upstanding citizen who pays accounts off on time and properly. Why a bad credit credit card? If you ve had trouble applying from most lenders, there are options, though designed for people with spotty, stained or downright tattered credit.

Obviously, if you qualify for a low interest option, you wouldn t need to be reading this, would you? In some cases, you may have to go so far as applying for a secured credit card- where you deposit 1- 2 times the amount of your credit limit into a bank account as collateral- in order to get a card that you can use- but the results are worth it. One feature that most bad credit options share is their reporting habits. Here s why. Most credit companies only make reports to the credit bureaus when you miss payments or are late on them. This is important if you ve had credit troubles in the past. Credit cards that are marketed as credit repair cards, on the other hand, often report every payment that you make, and label your account in good standing .

While many infringments will stay on your credit record for up to six years, the further in the past they are, the less they ll count with prospective creditors. That s even better an outlook than a person who had a spot of trouble four years ago, and hasn t used credit since. If you had a bad spot of trouble four years back, but your credit report now shows two years of regular, on time payments to a credit card company, the picture that emerges is of a regular person who had a tough time, but has since recovered and is paying their bills on time. Obviously, you ll pay a bit more for your credit card than if you had spotless credit. To offset that risk, they ll charge higher interest rates, and quite possibly membership fees and service charges. Bad credit issuers are taking a bigger risk by giving credit cards to those who have had trouble in the past. That doesn t mean, that you, though re stuck paying a fortune in unreasonable fees and rates.

You can compare various options online where you ll find a full selection of the best offers available in the UK today. If you shop carefully, you ll find companies that aren t taking advantage of your vulnerability by tacking on outrageous fees.

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How Do You Get Hold Of A Joint Credit Card - Finance and Credit Articles:

It really is very easy to recognize newly married couples.

Look For The Mortgage Lead Companies That Sell Their Mortgage Leads Fresh - Finance and Credit Articles:

If you do decide to go with a mortgage lead company, look for the mortgage lead companies that sell their leads in" real time, " this way you will be getting fresh leads, and you will be able to count ontheir quality. This is imperative because many mortgage lead companies will sell their leads up to seven times and your customer may already be working with your competition and not feel the need to call you back.

The Credit Report Layout - Pamela Gladfelter about Finance and Credit:

You might not realize but finding out the best way to read your credit report can actually save you a lot of time and money- it s not even that hard to get started, but there are some basics that you need to get your head around all the numbers, abbreviations and unfamiliar terms before reading your credit report.

Even If You Have Spare Cash, A Credit Card Is Much Safer To Use

Category: Finance, Credit.

Even if you tend not to spend too much money, you will still need a credit card to make routine payments and attempting to get around without one is like turning up at a meeting with a new client having left your briefcase containing the client proposal back at the office.

Renting a car without the use of a credit card when you get where you are going is practically impossible. As far as travel is concerned you will need to give a credit card number to reservations when booking a hotel or a flight and if booking on line or by telephone you will have to pay for the services with a credit card. In fact, without a credit card you may just as well keep some cash on you, probably quite a large amount, to pay for taxis. For example, if during your travels your wallet is stolen you can say goodbye to your cash. Even if you have spare cash, a credit card is much safer to use. Although having your wallet stolen will no doubt inconvenience you, you will still be protected as far as your credit card is concerned.

Any attempts by the thief to charge expenses to your credit card will be stopped and if the thief has managed to spend on your card before you had the chance to make the call, you will not be responsible for this debt. All it takes is a simple phone call to your credit card company and a freeze will be put on your account. This is the reason why so many frequent travelers rely on credit cards rather than paying by cash. Make sure the website you are using has the secure shopping symbol and you can then feel confident about entering your credit card details to make a payment. As far as shopping on line is concerned, a credit card is an ideal way of paying for your goods. It is also possible to link your bank account to your credit card as an easy way of transferring funds should you find yourself short of time or do not want to stand in queues at the bank.

It will not take long for you to discover just how convenient this is on occasions when it s raining or you are in a hurry. You can even use your card to pay at the pump of the gas station during the morning or evening rush hours. If you tend to use the same gas station on a regular basis you may be able to get a gas credit card from them. A the same time as enjoying the advantages of buying on line, and paying for, renting cars holidays you are also building up a credit history. This may offer you extra savings or extra gas by way of rewards when you buy using your credit card. Of course, settling your outstanding balance by paying promptly and using your card in a responsible manner are also important factors which go towards your credit rating.

Your credit rating is important for the future when you may wish to make a larger than normal purchase say, a house or, for example a car.

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There Is This Scene In Desperate Housewives With Bree Son Andrew Spending Her Credit Card On His Expenses - Finance and Credit Articles:

As long as they are able to handle the responsibility that comes along with it well.

Another Easy Way To Help Protect From Fraud Is To Always Keep Your Credit Card With You - Finance and Credit:

Along with increased technological advances it seems there are increased ways for the criminal element of society to find ways to take advantage of it for nefarious purposes. Make sure that you investigate the card you choose carefully and get one that offers exceptional security.

Credit Cards Are Somewhat Notorious For Giving Us The Ability To Run Up Debts Without Really Realising What We Re Doing - Finance and Credit Blog:

While there are some very organised people out there who open every piece of mail as soon as it arrives, and take the appropriate action straight away, many of us don t quite take the same approach. This, is not really, however a good way to deal with things, and here are three reasons why.

In Legal Speak, Creditors Can Not Call You, Threatening To Take You To Court

Category: Finance, Credit.

You can not separate Bad Credit Debt Consolidation from each other. Whatever the type of your borrowing, be it a mortgage, or a personal, a car loan, i you default in repaying, be prepared to be subpoenaed to court.

If and when you fail to repay your loans, your creditor can take you to court for recovery. Always remember that it is not easy to handle court room matters Many of the courts will consider both sides offensive. If you want to keep away from stressful situations, then it is imperative to construct shrewd decisions ahead of spending cash you don t have. It is worth noting here that the court will brand you untrustworthy if you are seen to be negligent. You should fulfill your repayment obligations so as to avoid penalties, court proceedings, law suits. If you are repaying credit on your home, you may want to consider selling your home.

If you stumble on a corner in your life where you get a glimpse of difficulties required to meet these demands, better look out for debt consolidation. Another solution is finding a low cost alternative and lower monthly installment loan combined. When you already feel indebted is is time for recovery agencies to take over and you will become even more stressed. Few mortgage loans will include a debt consolidation solution into the agreement. Once you are in the hands of collection agencies, be aware that most of these people could care less how they get their money. This is illegal. Some have even sent personnel to debtor s doors claiming to be the law.

And they get away with such tactics because debtors often fail to stay current with the laws. Be advised that it is illegal for creditors to call you before and after certain hours of the day. Rather they are only worrying about how to pay their debts. In legal speak, creditors can not call you, threatening to take you to court. If you have bad credit and need to consolidate your debt, you should know your rights. Prevent your creditors from getting the better of you.

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They Told Me That Most Loan Providers Try To Rip You Off - Finance and Credit:

The minute I realized that I could finally afford to buy my own home, it was time to rejoice.

The Use Of Credit Cards Has Its Own Pros And Cons - Finance and Credit Blog:

The use of credit cards is but just an evolution of the ancient merchants form of transacting for their various businesses. The words Credit Card had been mentioned in his novel Looking Backward eleven times, and in the book s sequel named Equality three times.

Ready To Build Your Credit History - Rosa Biggins's Finance and Credit blog:

Ready to build your credit history? But before you sign that application form, here are five things you need to know: They come to you.

There Are Also Low Interest Credit Cards And Business Credit Cards

Category: Finance, Credit.

There are several types of Prepaid Credit Cards as well as regular credit cards. The most common brand names are Visa, American Express, MasterCard, and Discover.

Both of them are offered by different banks of financial companies and come under a variety of names. While most of them require you to fill in credit card applications, for some of the prepaid cards available on the market you do not even need to have an account. Some of the Prepaid Credit Cards like for example Eufora Preferred Credit Builder Prepaid MasterCard have an annual fee of$ 595 but offer a way to start building your credit immediately. Some of the companies offering Prepaid Credit Cards allow buyers to be as young as 13 years old, but anyone 16 and older can get a prepaid card very easily. Other prepaid cards like Wired Plastic Prepaid Visa Card, Account Now Vantage Debit MasterCard, All- Access MasterCard Prepaid Card, Western Union Prepaid MasterCard, and BuyRIGHT Pre- Paid MasterCard do not have an annual fee. No matter of the name of the prepaid card they all function in the same way.

While each of them offers different advantages like being excellent cards for online shopping or not needing a credit history or a credit score, they all have zero APR. The ones that require you to have an account will charge you a setup fee and then you will have to pay fees every time you want to recharge the card. The advantages of this type of cards are that they do not require a lot of paperwork and they work almost like a credit card but instead of using the bank s money you use your money. The ones that say you do not need account for having a prepaid card will still have you recharge your card by sending the money and having them recharge the card. This means that while you can enjoy going around without cash you can still have your money with you for shopping and you can only shop for a certain amount of money thus never getting in debt. In the actually credit card category, the types of cards offered is so big that it actually gets to be divided into smaller categories and in different ways.

A lot of people prefer this type of prepaid card or a secure credit card which is very similar with the prepaid one. There are credit cards available from people with no credit score to people wit outstanding credit score. There are special credit cards available for college and university students. Of course the terms and the amount of money that can be credited vary significantly from person to person depending on the credit score and credit history. These cards usually have a lower interest rate as well as a wide variety of rewards. There are also low interest credit cards and business credit cards. There is a rewards credit cards category where you can choose form airline, gas or cash, hotel back rewards depending on your personal needs.

Thus before actually starting filling credit card applications it is important to know which credit cards suits your needs best.

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There Are Major Advantages To Applying For Credit Cards Or Loans Online - Inez Debusk about Finance and Credit:

One of the more recent innovations brought by the Internet technology is the possibility to apply for loans and credit cards online, benefitting from the 0% APR balance transfer and not only. The 0% APR balance transfer feature is one of the greatest things about credit cards.

Similar Things Happen To Other Rewards - Finance and Credit Articles:

Getting rewarded as you spend money with your credit card makes things interesting for a credit card holder.

Although This May Sound Too Good To Be True, These Credit Card Offers Are Genuine - Finance and Credit Articles:

Like most people, you have probably received offers for credit cards with 0% annual percentage rate( APR) . As long as you do your research and are cautious with your use, just like any other credit card, 0% APR credit cards can be very beneficial. 0% APR credit cards can actually save you money- just be aware that the zero percent interest that is offered probably has a time constraint so make sure you know what the interest rate will be after the introductory rate expires.