If you assume that elderly and senior citizens are targeted for fraudulent scams because of their age, you'd be right. If you assumed that the victims had to be lonely, confused or lower income, you'd be wrong.
The BBB, which fields numerous complaints each month from seniors who've fallen victim to fraudulent telemarketing or direct mail pitches, advises family and friends of older adults to learn to identify common types of fraud.
Fall is an opportune time for fraud perpetration, so focusing our efforts on fraud prevention can have a positive impact," said Michael Clayton, president and CEO of BBB Southeast Texas.
Read More...
[Source: Google News Search Results for credit cards]
Wednesday, October 31, 2007
Top tips to beat the fraudsters
Despite increased awareness of identity theft, many people are still putting themselves at risk by throwing away private information without a second thought.
Research shows two thirds of the population are still failing to destroy confidential documents, with most homes not even owning a shredder.
Home Office figures show identity fraud costs the UK a whopping £1.7BILLION each year.
And it is not only bad news for the economy, it can have catastrophic consequences for victims as well.
Stealing your identity can mean the emptying of your bank account and the loss of your credit rating.
Once you have been black-listed for credit, it can take years to recover.
Many victims of fraud don't even know they have been targeted until it is too late. The best protection from ID fraud is to dispose of confidential details properly. The ideal way to do this is to shred papers before binning them.
Read More...
[Source: Google News Search Results for credit cards]
Research shows two thirds of the population are still failing to destroy confidential documents, with most homes not even owning a shredder.
Home Office figures show identity fraud costs the UK a whopping £1.7BILLION each year.
And it is not only bad news for the economy, it can have catastrophic consequences for victims as well.
Stealing your identity can mean the emptying of your bank account and the loss of your credit rating.
Once you have been black-listed for credit, it can take years to recover.
Many victims of fraud don't even know they have been targeted until it is too late. The best protection from ID fraud is to dispose of confidential details properly. The ideal way to do this is to shred papers before binning them.
Read More...
[Source: Google News Search Results for credit cards]
6 Steps to Establishing Good Credit History
In today's tight credit market, the idea of having no credit history can be enough to give a person nightmares. But fear not -- it is possible to establish solid credit that will keep bad dreams at bay.
Most creditors look at an individual's credit (or FICO) score, which typically ranges between 300 and 850, to help determine the likelihood that the person will repay debts. The score is calculated based on factors including:
* Repayment history - A history of not paying debts, or not paying on time each month, will lower scores.
* Amount of credit used - Credit lines near their limits, or maxed out, negatively affect credit scores.
* Amount of overall debt - Too much debt makes it less likely you could pay off additional debt. Too little debt offers creditors limited payment history, making it difficult to judge credit worthiness.
If you have a low credit score because you have not established credit, the good news is that you probably are not haunted by an array of unpaid debt. You can work to build good credit history - and your effort will pay off when your score helps you buy the car or home you need. To get started, try these six tips:
1.Understand your credit rating. Review your credit report for free once a year. Visit the Web sites of the three major credit reporting agencies (Equifax, Experian and TransUnion) or http://www.annualcreditreport.com, or call to request your report. The higher the credit score, the better.
Read More...
[Source: Yahoo! News Search Results for credit cards]
Most creditors look at an individual's credit (or FICO) score, which typically ranges between 300 and 850, to help determine the likelihood that the person will repay debts. The score is calculated based on factors including:
* Repayment history - A history of not paying debts, or not paying on time each month, will lower scores.
* Amount of credit used - Credit lines near their limits, or maxed out, negatively affect credit scores.
* Amount of overall debt - Too much debt makes it less likely you could pay off additional debt. Too little debt offers creditors limited payment history, making it difficult to judge credit worthiness.
If you have a low credit score because you have not established credit, the good news is that you probably are not haunted by an array of unpaid debt. You can work to build good credit history - and your effort will pay off when your score helps you buy the car or home you need. To get started, try these six tips:
1.Understand your credit rating. Review your credit report for free once a year. Visit the Web sites of the three major credit reporting agencies (Equifax, Experian and TransUnion) or http://www.annualcreditreport.com, or call to request your report. The higher the credit score, the better.
Read More...
[Source: Yahoo! News Search Results for credit cards]
Five Steps To Easier Credit
Earlier this week, while having breakfast at a local café, I noticed a sign behind the counter which read, "Please do not ask for credit". Given that the most expensive meal on the menu cost about £5, I was surprised that the owners needed to warn customers in this way!
Then again, the rules are similar in the financial world. Some people find it easy to get credit, while others struggle to borrow even small sums at reasonable interest rates. Of course, the larger your disposable income is, the easier borrowing becomes, all other things being equal. However, even fairly affluent people can have difficulty getting credit. Often, this is because of information contained in a credit reference.
The phrases ‘credit reference', ‘credit report' and ‘credit history' suggest that you have only one credit reference. In fact, there are three different commercial companies which monitor and measure your ability to manage credit, known as your ‘creditworthiness'. These credit reference agencies (CRAs) are Experian, Equifax (NYSE: EFX - news) and Callcredit. Lenders use reports produced by one or more of these agencies when deciding whether to lend to you.
Read More...
[Source: Yahoo! News Search Results for credit cards]
Then again, the rules are similar in the financial world. Some people find it easy to get credit, while others struggle to borrow even small sums at reasonable interest rates. Of course, the larger your disposable income is, the easier borrowing becomes, all other things being equal. However, even fairly affluent people can have difficulty getting credit. Often, this is because of information contained in a credit reference.
The phrases ‘credit reference', ‘credit report' and ‘credit history' suggest that you have only one credit reference. In fact, there are three different commercial companies which monitor and measure your ability to manage credit, known as your ‘creditworthiness'. These credit reference agencies (CRAs) are Experian, Equifax (NYSE: EFX - news) and Callcredit. Lenders use reports produced by one or more of these agencies when deciding whether to lend to you.
Read More...
[Source: Yahoo! News Search Results for credit cards]
Choose credit cards wisely
Americans have a complicated relationship with credit cards. Most of us won't leave home without them.
But ask the average consumer how she feels about credit card companies, and you're likely to hear words you can't say on prime-time TV.
A survey by J.D. Power and Associates found that credit cards have the lowest customer satisfaction level of all financial services. On a 1,000-point scale, card companies received an average satisfaction rating of 658.
Credit card issuers lagged behind mortgage services (798), online brokerage firms (773) and retail banks (763) on the satisfaction scale.
Still, choosing the card that best suits your borrowing habits can improve your credit card experience, said Jeff Taylor, senior director of banking practice for J.D. Power.
The J.D. Power study divides credit card users into two categories:
TRANSACTORS
These are people who usually pay off their balance each month. These folks tend to be more satisfied with their credit cards than are cardholders who carry a balance.
Read More...
[Source: Yahoo! News Search Results for credit cards]
But ask the average consumer how she feels about credit card companies, and you're likely to hear words you can't say on prime-time TV.
A survey by J.D. Power and Associates found that credit cards have the lowest customer satisfaction level of all financial services. On a 1,000-point scale, card companies received an average satisfaction rating of 658.
Credit card issuers lagged behind mortgage services (798), online brokerage firms (773) and retail banks (763) on the satisfaction scale.
Still, choosing the card that best suits your borrowing habits can improve your credit card experience, said Jeff Taylor, senior director of banking practice for J.D. Power.
The J.D. Power study divides credit card users into two categories:
TRANSACTORS
These are people who usually pay off their balance each month. These folks tend to be more satisfied with their credit cards than are cardholders who carry a balance.
Read More...
[Source: Yahoo! News Search Results for credit cards]
Learning plastic's pitfalls
High school seniors spend time getting savvy about finances, and how a credit card fits into one's budget.
The students of one of Tracy Parido's classes at Central York High School received a run-through of the ins and outs of establishing and keeping a good credit report Monday afternoon with the help of a representative from Commerce Bank.
"Lots of people get out into the real world and don't know how to even balance a checkbook," Donna McCleary, assistant head teller of the Commerce Bank branch in Red Lion, said.
The presentation covered everything from interest rates to protecting themselves against identity theft, as well as credit records to what some graduating seniors will have to deal with in the near future - managing personal finances.
Read More...
[Source: Yahoo! News Search Results for credit cards]
The students of one of Tracy Parido's classes at Central York High School received a run-through of the ins and outs of establishing and keeping a good credit report Monday afternoon with the help of a representative from Commerce Bank.
"Lots of people get out into the real world and don't know how to even balance a checkbook," Donna McCleary, assistant head teller of the Commerce Bank branch in Red Lion, said.
The presentation covered everything from interest rates to protecting themselves against identity theft, as well as credit records to what some graduating seniors will have to deal with in the near future - managing personal finances.
Read More...
[Source: Yahoo! News Search Results for credit cards]
Apple Refuses Self-Branded Gift Cards for iPhone Purchases
In an effort to prevent modding and hacking the iPhone to use other providers and software, Apple is not only refusing cash but now insisting on credit or debit cards instead. They have now went another step farther, there also even refusing their own gift cards. If you read the fine print Apple does not say that you can not buy an iPhone with their gift cards, it in fact says more or less you can purchase whatever you want with them. Apple could be treading into dangerous legal territory now, since people these days will sue you at the drop of a hat.
Read More...
[Source: Yahoo! News Search Results for credit cards]
Read More...
[Source: Yahoo! News Search Results for credit cards]
Subscribe to:
Posts (Atom)