- Written by Administrator
If you want to borrow money from the bank but find out that your credit score is not that good, you won’t be able to get an approval unless you are willing to pay this back at a high interest rate but this can change if you are able to improve your credit score.
Here are ten tips that will help you get started.
First, stop spending money on things that you don’t really need. These include clothes, shoes, jewelry, CD’s, toys, a trip to the parlor, the spa or salon. You will miss them for awhile but when things get better, you can surely enjoy them again.
Most of us use the credit card to pay for just about anything and part of cutting on your expenses means putting limits where you can use it. This should only be used to buy food and groceries as there are things that we need daily.
Reduce the number of long distance calls that you make. If possible, cancel your service provider and get one that gives better rates. The same goes with cell phones since some companies charge lower for air time or allow you to make free calls at certain times of the day.
Your utility bills come during the end of the month so that is another thing to worry about aside from the card bills. To lessen the amount you have to pay, conserve so you don’t use that much by lowering your thermostat during the winter and raising during the summer as well as turning off the lights when no one is in the room.
To come up with the money you need to improve your credit score, try working overtime, getting a second job if it is possible and sell stuff that you don’t need. Keeping yourself will really help so you are not tempted to spend your hard earned cash.
When it comes to your credit card, pay the one that has the highest interest first then work your way down the line.
Related Article: What is credit card fraud and how does it happen
Strike a deal with creditors so that they are aware of what is happening because this gesture helps improve your credit score.
As things pick up, close your unused accounts especially the newer ones. You can also apply for a new credit card preferably those offered by groceries and supermarkets as they offer lower interest rates than those coming from banks.
Also, review your credit report and see if there are any errors. Most of the time, there is one or two there that can be corrected as long as you have the supporting documents. If the investigation shows that there was an error or that the creditor cannot prove their allegations, this is immediately removed from your record and you get a revised copy with these corrections.
Improving your credit score is something you have to do if you score is below 700. Doing so will allow you to have better rates from banks and other lending institutions when you want to buy a house, a car or undergo a renovation at home.
So for those who are in trouble, there is still hope. You just have to make some sacrifices that will eventually pay off in the long term. For those who are in good standing, keep up the good work or make it even higher.
- Written by Administrator
Stopping fraud is as easy as starting at StopFraud.gov.
Credit fraud targets people of all ages and walks of life. Victims are lured in with false promises of significant cash prizes, goods, services, or good works, in exchange for up-front fees, taxes or donations. Sometimes, however, it isn’t an extravagant method of obtaining your information that works for an identity thief committing credit fraud. Sometimes credit fraud is committed simply because you lost your wallet or purse and someone else found it and used your credit cards.
Credit fraud includes a variety of scams that target people applying for credit and/or are dealing with debt, such as:Advance-fee loan scams that involve charging an upfront fee to guarantee a credit card or loan before you apply. These offers are illegal and often target people with credit problems.Debt settlement scams that include deceptive ads that promise debt relief, when in fact what they are offering is bankruptcy, and others that promise to negotiate with your creditors, but take the money and run.Loan scams that offer you enticing rates to apply for a loan, but then do not include any language to let you know that you’re not actually getting the offered interest rate.Free Government Grant scams that promise you can get tons of free money to pay your bills, go back to school, pay for your daycare, or even start a small business as long as you fork over all your personal information first.
This is in addition to the most obvious kind of credit fraud, which is using your card or your card’s information to purchase goods and services without your permission. Credit fraud is one of the fastest growing crimes in the United States and falls under the umbrella of identity theft because you generally have to pretend to be someone other than yourself in order to use a stolen credit card or open up new lines of credit in someone else’s name.
How can you prevent credit fraud from occurring? There are a few basic steps:Better protect your information on your own. We’ve outlined 10 basic steps you can take to better protect your information at home without having to pay a dime.Sign up for credit monitoring services. A good identity theft protection plan will monitor your credit information and your personal identification information around the clock so that you can know immediately if someone else is making unauthorized changes to your financial picture. Compare the best credit monitoring services at StopIdentityFraud.org
Verify, verify, verify. If you don’t know why you’ve received a text or an e-mail, then don’t give a reply or click on a link included to provide your personally identifying information. When in doubt, call a customer service representative.Report anything suspicious immediately. Go to stopfraud.gov and report anything suspicious. You’ll be able to find the specific type of credit fraud to report and where you need to go report it.
The worst thing that any of us can do is to not report anything. By not reporting credit fraud when it is discovered, we are condoning it. By taking the steps to prevent credit fraud and then actively reporting suspicions, we are doing something about credit fraud and identity theft: we’re fighting to stop it. Follow these steps today to make sure that you can prevent credit fraud before it ever starts.
More ways you can prevent credit card fraud online.