« February 2007 | Main | April 2007 »
March 31, 2007
Resources for Protection From Identity Thieves
Identity Theft – Worksheets to Protect Yourself
If you suspect that you are a victim of identity theft you need to take action immediately. Identity thieves work fast, here is what you MUST do to protect yourself from the evil-doers that hijack your personal information:
Step 1 - Identity Theft Protection – Contact the Credit Bureaus
Contact the major credit bureaus immediately and have a fraud alert placed on your credit file
Here are the numbers for the credit bureaus:
Equifax 1-800-525-6285
Experian 1-888-397-3742
TransUnion 1-800-680-7289
When you call the bureaus ask to speak with the people in charge of fraud
Write down the following information and keep it in a safe place for future reference:
1. The date and time that you contacted each of the credit bureaus
2. The first and last name of the person you spoke with at the credit bureau
3. Take notes of the conversation with the bureau representative
Tip: DO NOT be shy. Ask the person at the credit bureau to slow down while you take copious notes about the conversation you are having. It’s your financial future at stake here and the person you are speaking to will be very gracious towards you. If they are not gracious, you have their full name and you should file a complaint with their supervisor.
Again, take note of the supervisor’s full name and contact details such as email address and direct phone number.
Step 2 - Identity Theft Protection – Contact Lenders and Creditors
Make sure you contact all lenders to let them now that your identity has been stolen or that you suspect it has been stolen.
Record the persons name, time of day and notes about your discussion. The same as you did when contacting the credit bureaus.
Step 4 - Identity Theft Protection – File Police Report
Now that you have taken care of steps 1 through 3 to “stop the leak” by deploying immediate damage control, call the police and files a report with them.
As with everybody you speak with, record notes about your conversations.
Step 5 - Identity Theft Protection – File Report with FTC
File your report with the Federal Trade Commission here
Step 6 - Identity Theft Protection – Stop Payment on Checks
Put on stop payment on your checks by calling your financial institute as well as the following services:
SCAN 1-800-262-7771
TeleCheck 1-800-710-9898
Certegy 1-800-437-5120
Global Payments 1-800-766-2748
Further Issues to Consider
Text here summarizing what needs to be done…
Fraudulent Cell Phone and Long Distance Calls
Report to your state Public Utility Commission
Report misuse of your phone services here:
1-888-225-5322 OR 1-888-CALL FCC
Misuse of SSN to Get Driver’s Licence
Visit the State Department of Motor Vehicles at:
Stolen Home Delivery Mail
Contact the US Postal Service online at:
Or
Consult your local phone book for the United States Postal Service listing in your area. Look up online at:
When your identity has been hijacked by low life criminals it is an incredibly stressful time but do what it takes to maintain a clear and calm mind.
Systematically go through the process of stopping the problem and in the future you will be very knowledgeable as to what measures you need to keep in place to ensure your identity is secure.
Because of just how savvy identity thieves have become is why I recommend having some form of identity protection in place. The identity protection company that impresses me most is LifeLock, if you don’t have a credit and identity monitoring service in place I strongly urge you to register right now for some form of monitoring protection for everyday peace of mine.
March 16, 2007
A Way Out of Costly Credit Card Debt
Credit card debt can definitely cause a feeling of hopelessness. The seemingly insurmountable pile of credit card bills can really start adding up and it sometimes seems that even if you have stopped using your credit card that the debt owing just keeps growing due to the incredibly high cost of card interest rates.
It's time to reconsider how to pay down your card debt. Paying down your high interest rate credit card should take priority as your cards are likely your highest rate loans. So get them paid first.
Most people are advised to simply keep paying down your credit card but I just came up with an alternate solution that will help get you out of debt faster. Rather than simply paying more and more on your credit card balance you should consider taking out a secured loan at a MUCH lower interest rate to pay off your credit cards and then proceed to pay off your secured loan.
The average interest rate on credit card balances is roughly 18% and a secured loan can be acquired at about 9% - That's an amazing 50% savings in interest charges.
Apply your interest savings from your secured loan directly to the balance of the loan and you WILL save even more money in interest charges.
If you do this you will pay off your debt very quickly, faster than you ever imagined. There's hope in solving your debt problems.
Another strategy you can try is to consider credit card applications that offer a 0% introductory period for anywhere between 6 to 18 months. Then after the introductory period expires, go apply for a secured loan to drive your interest costs down even further.
I must caution you though, to carefully select the credit card you are applying for and apply only once for the card that will best fit your needs and think honestly about the offer that you are most likely to qualify for because if you "over apply" for credit it will impact your FICO score.
When the introductory rate expires on the 0% intro rate offer and you are ready to apply for a lower rate secured loan be sure to mention your strategy to the banker so they are aware of what you are doing. If you don't let them know what you are up to they might perceive you as a "credit junkie".
Make sure you come back to visit Crediteria.com for more great advice. More money saving tips coming soon!
March 15, 2007
Discover Business Card Rate Hike
If you run your own business like I do then you know every point counts, whether it be in your profit margins or with your financing.
If you weren't aware of an interest rate increase with the Discover Business Card, you now are aware.
The interest rate on Discover Business has just been increased from from 12.99% to 13.24%.
While the increase is only 1.25%, if you are carrying a balance on your Discover Card you might want to think about paying it down a bit.
Now, I am not saying that Discover Business Card is a bad credit card for business. The fact is that interest rates are rising and this includes rates on savings accounts so the slight increase will likely be offset by increases in savings account rates. However, I am an advocate of paying off higher interest debt as fast as possible.
Even with the slight rate hike, I still endorse the Discover Business Credit Card.
The advantages are still great, see the facts below:
- 0% Intro APR* on Purchases for 12 months
- 5% Cashback Bonus® on office supplies*
- 2% Cashback Bonus® on gas*
- Up to 1% Cashback Bonus® on all other purchases*
- No Annual Fee
- Employee cards with customizable limits and monthly reporting on their spend
HSBC Offers High Interest Savings
I just read that HSBC is offering an interest rate of 6% on new money until the end of April. While this sounds very enticing to move any savings you have over to a higher interest account it might not be worth it for you.
Let's say you carry $5000 balance on your credit card and you happen to have $2000 in a savings account. Then you see the HSBC offer and think to yourself "Hey, look at that savings account! I can earn more if I move my money into that account".
Well, my friend, you won't actually make any money. Your credit card balance is likely incurring an interest rate of anywhere between 17% and 28%. You would be getting much further ahead if you took that $2000 in your savings account and applied it to the balance of your credit card.
Paying off high interest credit cards should take top priority!
Posted by Colin at 08:21 AM | Permalink | Comments (0) | TrackBacks (0)March 11, 2007
Credit Card Rewards
Does you budget not allow for travel?
Are you spending with no thought to earning travel miles?
It's time to get control and review your spending habits and it's time to do it now.
You see, I too am out of control with my spending and I have to say that it's not so bad because I have accumulated so many travel rewards with my credit card spending that I have earned free travel.
By using my credit card to make all my purchases I have earned enough for free trips to Las Vegas. I just flew there on my points a few weeks ago.
While I don't endorse spending more than you can afford on your credit card in order to get free trips, I do endorse making purchases that you can afford on your credit card to take advantage of the reward points offered by several credit card companies.
I highly recommend checking out the top airline rewards credit cards to start taking advantage of free travel rewards now. You will be happy you did.
March 09, 2007
Discover Gas Rewards
Discover Gas Card provides you with relief of high fuel prices!
You work far too hard for your money and what is really frustrating is how much money you pay for gas just to get to work. The cost of driving has soared so high that many regular hard working people like yourself simply can't afford to drive to work anymore!
Discover Card is here to rescue you by offering gas rewards, something we all need.
Currently the Discover Gas Card is providing a 0% APR for 12 months and an amazing 5% cash back on gas and automotive work! That's like saving 5% automatically on the cost of gasoline.
Gas is something we all use and saving 5% on filling your car is going to make a huge difference to your family finances!
I highly recommend the Gas Card from Discover!
If you want to save on your gas costs, get Discover® Gas Card now!
Posted by Colin at 11:53 PM | Permalink | Comments (0) | TrackBacks (0)