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Connie Barker is the owner of several financial websites including those dealing with Credit Reports
January 24, 2008
There are many people who still fear buying items or services on the internet because they worry about identity theft or credit card fraud. While these are natural concerns, it’s important to note that there have been many advancements in credit card security, and in particular, protection for online purchases. Shopping online is not all that much different from shopping in person as far as security is concerned. Certain cards have special security features intended just for online purchases, and include password protection and single use credit card numbers.
Web sites that accept credit cards typically offer an additional layer of protection as well, by encrypting the information (credit card numbers) as it is sent from your computer to theirs. In fact, someone who is intelligent enough to decrypt such information is probably intelligent enough to create a self-generating credit card system, and make their own credit card cards with fake account numbers! Before making a purchase on a website, just make sure that there is a secure label someplace on the page, usually ‘SSL’. Also, you can check to be sure that the domain starts with ‘https’; the ’s’ is to show you that it is a secure site.
Using credit cards online gives you purchase protection, in addition to security protection. If you make a purchase from an online merchant that does not delivery on their promise for what you expected to receive, or the item is never sent, your credit card offers protection. You will not have to pay for an item that is not as described. Also, if the item arrives in the mail broken or gets lost before you receive it, in most cases your purchase protection will allow you to return the item or obtain a new one.
Visa, among other credit card lenders, have come up with a way to password protect your credit card. Whenever you are shopping online, you will be required to input your special password before you can make the purchase. This protects you against people who have obtained your credit card number or have the card itself and are attempting to make purchases with it. As long as you don’t store your password with your card, this layer of protection should make it impossible for someone else to use your credit card.
Many cards are currently offering single use credit card numbers for shopping online. Each time you make an online purchase, the credit card company issues a secondary card number, which will be used for that single purchase only. Once your transaction has been entered with your single use card number, you (or anyone else who may have seen the transmission or is waiting on the other end of the website for your card information!) will not be able to use that particular number again to make another purchase.
If the worst happens- and someone does happen to get your credit card number or the card itself- if you report the fraud the moment you notice it on a statement, or the moment you notice the card is not in your wallet- you will not be held liable for charges made on that card. In fact, it is the retail stores that take the biggest beating when it comes to credit card fraud, not the consumer. Shopping online is as safe, if not safer, than shopping at the store or over the phone thanks to the plastic protection your credit cards provide.
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This article has been provided by Creditor Web. At CreditorWeb.com you can compare over 100 credit cards from multiple banks and apply for a credit card online.
There are many different web sites available that will offer you the opportunity to get an official credit report. Simply put, many of these are fraudulent web sites and just want visitors and traffic to their web sites. They do not really offer what they state in their advertisements. In reality, the only true official credit report web sites are those of the three major credit report agencies, TransUnion, Equifax, and Experian. You can obtain 3 free online credit reports with score, from any of these reporting agencies.
A yearly government credit report can help you in a variety of ways and you can obtain one from any company by signing up for a 30-day free trial. After the trial expires you will be required to pay a fee for membership. There are not any totally free credit report web sites available on the internet due to the laws in the United States. You can receive 3 free online credit reports with score from each of the three major credit-reporting companies, though. The only way to get further credit reports, other than the yearly government credit report, is to prove you have been the victim of identity fraud.
If you are one looking for a completely free credit report, you will have a hard time finding one, the reason is that most will require payment after the 30-day trial period has ended. More than 14 million people nationwide have taken advantage of 3 free online credit reports with score and the trend does not seem to be slowing down. Having a copy of your credit report will help you determine if you are a victim of identity fraud or have any type of errors on your credit report that could be harming your credit rating.
If you do run across any errors on any of your 3 free online credit reports with score, you should immediately report it to the corresponding agency. Take advantage of your yearly government credit report.
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Get all of your credit report information at http://goodcreditforyou.com
Copyright 2006 @ Ann Born http://goodcreditforyou.com
No part of this article may be reproduced in any manner without including the author’s bio.
When you are looking to obtain a credit report with your credit score, TransUnion is the way to go. TransUnion provides you with an accurate and up-to-date credit report with your score. As one of the three major credit reporting agencies, you will have the peace of mind in knowing that your credit report will be completely accurate and you can trust TransUnion to deliver you the utmost quality. It is easy to obtain a TransUnion credit report right on the internet. They have an easily navigated website and quick sign up for memberships.
You can find your credit report with score on the TransUnion web site and view it on your monitor in just a few minutes. The great thing about receiving a credit report from the three different credit reporting agencies is that you can compare the credit scores from all three, this helps you to determine if there are any errors that you need sort out and get corrected.
When going through the TransUnion web site, you have the opportunity to not only get your credit report with score from TransUnion but also from the other two reporting agencies. Errors do not occur very often, but if they do occur, you will want to know about them right away and fix them if possible. Even the slightest error in your credit report can make or break your entire credit rating. It can prevent you from receiving any type of credit in the future. So keeping your eye on it at all times is of the highest importance. We live in a world that is jammed packed full of credit related events and needs that you will want to ensure that you stay on the green side of the bar at all times.
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Get all of your credit report information at http://goodcreditforyou.com
Copyright 2006 @ Ann Born http://goodcreditforyou.com
No part of this article may be reproduced in any manner without including the author’s bio.
January 21, 2008
Have you ever been in that position where you get the bills in the mail or online and they just seem to keep coming? One credit card after another, one utility after another! It seems to be never ending. Every paycheck is a struggle.
Well there are some things you may be able to do for yourself by your own means that can help. There is a particular book out there called ‘Rich Dad, Poor Dad’ and it was written by a fellow who didn’t just write it but did everything he teaches for himself, he has basically become the Rich Dad and the proof is in everything he does and writes. But besides what he has to say, there are lots of things you can do for yourself even before you borrow the book. And just in case you do want to buy the book I suggest you check around. You can even check out Amazon Books and compare.
In any case, one of the best things you can do is get your debt on ice (cards especially) and freeze what you are doing. The best way to get out of a hole is to first stop digging. Once you stop the credit from happening, then take it one step further and get rid of the interest. You can use the great offers by the major players to your advantage. And undoubtedly you will be able to save x amount of dollars a month. Whenever you condense all the payments down to one you always end up having to pay less for the minimum. But DO NOT let this fool you! Just because you have a lower payment does not mean you are in the clear. You need to remember to take a good credit card offer and get things done. Use the difference between what you were paying and the new minimum to pay off extra principle. So for example, lets say you had a retail outlet card, 2 credit cards and a personal loan. In order of total owing lets say: 2500, 2500,5000, and 10000. Payments might look something like this:
2500 at 19% might be around 58/month 40 goes to interest
2500 at 17% might be around 56/month 38 goes to interest
5000 at 10% might be around 75/month 45 goes to interest
10000 at 8% might be around 225/month 60 goes to interest
so total you would have say $414/month going out with 183/month being paid to interest.
Now say you transfer this all to an introductory offer by a major credit card. Now you have all 20000 with one card right. Payments might look like this:
20000 at 0% might be around 360/month with nothing going to interest.
So now you have an extra 54 bucks a month plus whatever you were spending on interest. So you take the extra 54 and add it to the payment every month. Within a year you have 237/month x 12 months = $2844 extra being paid to your debt! That is pretty close to that first card amount of 2500. And think, this is just the first year.
So you see in the end, it doesnt matter if you have bad credit, no credit, good credit, business credit or you are just a student. There is a way to enjoy great rewards using your own willpower as the tool to get you started.
Well hope this article helps anyone trying to make a difference in their struggle to beat out the interest monster.
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Good Luck,
Matt
January 12, 2008
In your quest for payday loans you have an option to take into consideration unsecured or secured credit cards for debtors. Credit cards online may have high interest rates and fees on late charges; in spite of that, if you pay back the debt before the grace period, you will pay less than what you would pay on a payday advance.
A number of online card providers offer a range of credit lines, which may ask you to pay a small fee upfront on the card. This means that if you have bad credit the lender may ask you to pay fees prior to using a fixed amount on the card. For example, the lender may offer $250 line of credit, which roll into the credit card. You will then pay $172 prior to utilizing the card. As soon as the fee is paid, you will have $250 every month to pay late fees, overdrafts, or other bills.
Here are some examples. Let?s assume that you have an overdraft and the amount due is $100. The check is bouncing; therefore the bank has charged you a fee of around $31-35. The bank will continue to charge a late fee per day, which at the end of the week could be to $35.
You need approximately $165 to cover the overdraft. Therefore, you get a payday loan of $200 and agree to pay back $240. This amount includes the payday fees and loan amount.
The payday due date arrives and you do not have the amount as well as the fees to pay back the loan. The loan is rolled over another 14 days, and you give $40 to extend the loan. Now you have paid $80 to evade extra charges on overdrafts. In spite of everything, you have a savings. If you roll the loan once more, you will increase the rate to $120, and you still have a saving.
The cycle goes until savings are no longer in the picture and now you have overdrafts and cannot get another loan until you pay the first loan off. You can go to another provider, but you might be rejected if the second provider sees on your bank statements that you have a pending payday loan.
On the other hand, if you have $250 on a credit card and wrote a check that bounced equaling $100, using your credit card to pay back the late fees, you will have $95 remaining on your credit card.
The grace period is 21 days on the card, which gives you plenty of time to get $165. Once the grace period ended and you only have $100 to apply to the card, which means you will roll over $65. The annual percentage rate on the card is 13.99 percent and the late fees are 9.99 percent. You will likely pay $88 on the loan, yet you have 21 days to pay $88, which will balance out to
$23.98 paid resulting from overdrafts.
If you can see, the credit cards are better option than choosing payday loans to take care of incurred overdrafts.
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Alex Fir shares a wealth of information on his website Payday Cash Loan Guide. If you want to learn more about fast payday loans visit his site right now.
January 4, 2008
Myth: Make sure your teenager gets a credit card so he or she will learn to be responsible with money.
Truth: Getting a credit card for your teenager is an excellent way to teach him or her to be financially irresponsible. That’s why teens are now the number-one target of credit card companies.
Over 80% of graduating college seniors have credit card debt before they even have a job! The credit card marketers have done such a thorough job that a credit card is seen as a rite of passage into adulthood. American teens view themselves as adults if they have a credit card, a cell phone and a driver’s license. Sadly, none of these ‘accomplishments’ are in any way associated with real adulthood.
You are not teaching your 16-year-old child to spend responsibly when you give him or her a credit card any more than you are teaching gun responsibility by letting him sleep with a loaded automatic weapon with the safety off. In both cases, you as a parent are being stupid. People with common sense don’t give 16-year-olds beer to teach them how to hold their liquor. By giving a teenager a credit card, the parent - the one with supposed credibility - introduces a financially harmful substance and endorses its use, which is dumb but unfortunately very normal in today’s families. Parents must instead teach the teenager to just say NO.
Anyone visiting a college campus in recent years has been shocked at the aggressive and senseless marketing of credit cards to people who don’t have jobs. The results can be devastating. Recently, two college students in Oklahoma gave up on their credit card debt and committed suicide with the bills lying on the bed beside them.
Vince called my radio show with a problem that has become a trend. Vince signed up for multiple cards during his sophomore year at college to get the free campus t-shirt. He wasn’t going to use the cards unless there was an emergency, but there was an ‘emergency’ every week, and soon he was $15,000 in debt. He couldn’t make the payments, so he quit school to get a job. The problem was, without his degree, his earnings were minimal. Worse than that, he also had $27,000 in student loans. Student loans aren’t payable while you are in school, but when you leave school by graduating or quitting, the payments begin. Vince was one scared 21-year-old with $42,000 in debt but making only $15,000 per year. What’s scary is that Vince is ‘normal.’ The American Bankruptcy Institute reveals that 19% of the people who filed for bankruptcy last year were college students. That means 1 in 5 bankruptcy filings were by very young people who started their lives as financial failures. Do you still think it is wise to give a teen a card? I hope not.
The reason why lenders market so aggressively to teens is brand loyalty. The lenders’ studies have found that we consumers are very loyal to the first bank that certifies our adulthood by issuing us plastic. When I am doing an appearance and cutting up credit cards, the emotional attachment many people have to the first card they got in college is amazing. They clutch it like it is an old friend. Brand loyalty is real.
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This content is provided by DaveRamsey.com and may be used only in its entirety with all links included. Dave Ramsey is changing the face of America by helping people beat debt and build wealth with his best-selling book, The Total Money Makeover, and nationally syndicated radio show, The Dave Ramsey Show. Read more of what Dave says about kids and money.
January 2, 2008
I want everyone to know that credit is a choice. It’s up to you to have credit and it’s up to you to have good or bad credit. No one will choose for you. Unless you are a millionaire, and if you were you wouldn’t be checking my site everyday, you will need credit. Credit is so complicated. I know my mathematics very well and can do risk analysis like anyone can; however, I still can not understand the entirety of credit. So here are simple things to start your good credit life.
Step 1 - Check your credit report. There are three main credit agencies out there: Equifax (www.equifax.com), Experian (www.experian.com), and Transunion (www.transunion.com). They all have aptly named websites, don’t they? Go to anyone of these and pay for the basic credit reports. But can’t you get free credit report? Yes, you absolutely can get free credit reports. You get what you pay for in credit reports. A free one may not go as in depth as you need.
Step 2 - Review your credit report. Ensure that everything that is on there is true. If something is not true, challenge it. There are steps on how to challenge items at the bottom of the report. This is insanely important to your credit score.
Step 3 - Make this an annual project. I’ve read somewhere that you are supposed to do it semi-annually for identity-theft prevention; but I’m sure I was reading on the sites that would benefit from me paying twice a year. I choose to do it annually.
Keep on checking everyday because I will go to statistical regression of credit scores and short-term to long-term risk analysis models. Exciting! (J/K about posting about that?but it is exciting.)
December 27, 2007
There are good credit cards and then there are bad credit cards. While credit cards can be very beneficial to many consumers, some credit cards may not be for every type of consumer. Here are some tips on credit cards to avoid.
Usually secured credit cards are not for everyone. Secured credit cards are when you open a bank account and deposit money into it, in which the credit card will give you a specific limit for. Secured credit cards are great tools for people with no or poor credit history, but can be expensive and not practical for consumers with a solid credit history and good credit rating.
For people looking for reward credit card offers, make sure you read the fine print, rewards offers are not for everyone. You can spend lots of money chasing rewards that may be worthless, do some homework and realistically think if you will be using the card enough to qualify for valuable rewards.
Low introductory interest rate credit cards can be a disaster in disguise for some consumers. Many low introductory interest rate offers last for six months or one year, which is great, but once the time period has ended, the interest rates might rise suddenly. You can be stuck with lots of credit card debt and a high interest rate to boot.
Store credit cards can sometimes be cards to avoid as well. Store credit cards are usually only allowed to be used at certain stores, which is fine. However store credit cards can have high interest fees and you can usually purchase the same items with your own standard credit card with a lower fee.
Remember, if you are applying for a credit card, do your homework and think about how you will use it. Not all credit cards fit each person?s specific situation and should be avoided.
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Connie Barker is the owner of several financial websites including those dealing with Bad Credit Cards
One of the ways that credit cards get consumers interested in their credit card products is by offering them low interest rates or low interest rate introductory offers. While low interest rates are great for consumers, do your homework so that you?re not surprised with high fees or short term low interest rates that jump sky high after the introductory period is over.
It?s hard to turn down a credit card with 0% interest, but as they say, there is no such thing as a free lunch. While credit cards with low fees are great for consumers, banks need to make their money in some way and have a way of finding revenue by adding steep fees and only offering low interest rates for the short term.
For instance, you might sign up for a credit card with 0% interest for 6 months, only to find that at the end of that period, the interest rate jumps to 15%. During the first 6 months, you used that specific card very often thinking you are getting a bargain. Unfortunately, now that your credit card balance is higher than before you will be paying a high interest rate and not getting such a great deal. If you want to avoid high interest rates and high credit card debt, avoid traps such as the one above. Low interest rates are great, but in the long run an introductory offer can hurt more than a stable low interest rate credit card.
Low interest rates that last for more than 6 months or a year are usually given to consumers with the best credit rating. If you have good credit, you can usually count on being offered good credit card rates with low fees, for people with bad or poor credit expect a moderate or high interest rate.
There are instances where consumers can use low or no interest rate introductory offers to their advantage. One is to purchase an item that you have the money for in the bank, you can easily pay it off in six months and don?t have to use your savings as it accrues interest. This might work for a high priced TV or vacation. Another instance, low or zero percent interest rates can work for you is if you have a high credit card balance on another card. You can transfer the card to the new card, no longer paying your high interest rate each month. This alone can save you a few hundred dollars over the course of six months or a year.
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