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By Sills, December 30, 2009 8:20 PM

Jewelry, electronics, your car – in the past, if a thief wanted to rob you they stole your valuable possessions. But in today’s information-based world, there’s something even more valuable that thieves can take from you: your identity.

Armed with personal information such as your Social Security number, credit card number, name, and address, an identity thief can drain your bank accounts and commit fraud in your name. It is possible that you won’t find out you are a victim until the thief is long gone.

More than 15 million people become victims of identity theft every year. An identity is stolen every two seconds in the United States – the fastest growing crime in the U.S. for the past four years.

How Identity Theft Happens

Your identity is one of your most valuable possessions. Your Social Security number, bank account numbers, and personal information are all a thief needs to commit identity theft.

How do thieves get your personal information? They use every trick in the book – and they’re constantly coming up with new ways.

Mailbox Raiding & Dumpster Diving

Mail from banks, institutions, and even new credit card offers contain valuable personal information which identity thieves can use to drain accounts and open new credit cards in your name. They get the information by stealing mail right out of your mailbox, or as in the case of dumpster diving, out of the trash after it has been thrown out.

Phishing

If you’ve ever received an email from a “bank” or other financial institution asking for account information, thieves could have been phishing for your identity. (The word is derived from “fishing,” because the emails are like bait.) Clicking on their link will send you to a site that looks the same as the actual institution, but actually belongs to the thief. When you enter your information, the thief has won.

Vishing

A combination of the words “voice” and “phishing,” vishing is like phishing, except the thieves use the phone instead of email. They may leave a message pretending to be your bank or some other company. When you call back, they’ll take your personal information.

Medical Benefits Fraud

Increasingly, thieves have started seeking treatment using another person’s name and medical insurance information. They can get it by stealing your wallet or hacking into a doctor’s or hospital’s computer system.

Spyware

Spyware is a malicious computer program that installs itself on your PC and then allows thieves to record your personal information – like a credit card number, password, or Social Security number.

Skimming

Skimming is a way for a thief to get your ATM or credit card information by installing their own card reader on an ATM machine. When you pass your card through the skimming device, it records your card information.

Corporate Data Breach

Trusted businesses, like your employer, your local bank, and other organizations have a great deal of your personal information stored on their computers. Thieves can gain access to this information by hacking into the network, by posing as a business partner, or after an employee loses a computer, disk or box of files.

Are you on Facebook and MySpace?

Social Networking Sites

Identity thieves are using social networking sites like Facebook and MySpace® to find out your personal information. They use the information they find on the site to pretend to be someone they’re not and coax other information out of you – like your Social Security number.

Child Identity Theft

Child identity theft works the same way as it does for adults: the thief acquires a child’s personal information, and then creates fraudulent accounts in their name. But because children usually don’t have financial accounts until they are older, no one may find out about the theft for many years, allowing the problems to be greatly compounded.

Senior Identity Theft

Seniors are particularly vulnerable to identity theft, because most have significant accumulated wealth, and are often unable to monitor their accounts carefully. Many are also less knowledgeable about technology, and more trusting of strangers and marketers, increasing their vulnerability.

Student Identity Theft

College students are another high-risk group. School registration days and frequent unsolicited offers for new credit cards provide many opportunities to share personal information and Social Security numbers. Combine that with frequent address changes and unforwarded mail and it’s a group ripe for picking by identity thieves.

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By Sills, September 21, 2009 5:21 AM

A credit card that can be gotten with a poor credit rating is known as a bad credit card. These cards give those with bad credit a chance to improve upon the credit rating they have. For those people the cards act as a rescue like this. Those that were unable to control past spending urges will find these bad credit cards provide needed training.

Secured credit cards are what these bad credit card cards are called. The person is required to open an account that maintains a cash balance with the supplier of the card in order to obtain one. What is the reason for this? Credit card suppliers are in business and they find it hard to trust someone that has not fulfilled payment obligations in the past. Profits are what business is all about and profits are put at risk by this. The balance on the account will normally earn interest from the bank or company providing the credit card. This should be checked with the company providing the card. The cash balance in the account will be the deciding factor of the credit limit that is placed on the credit card for bad credit and it is normally fifty to a hundred percent of the balance of cash. Debit cards are another name these bad credit cards are known by and this gives credit to the fact that they are more a debt giving item than a credit giving item.

The market has numerous bad credit cards available. There are four things in particular that need to be taken into consider when looking for a credit card for bad credit that is suitable for you. The amount of the minimum balance that the bank requires you to keep, how much credit (what percent of the balance will be available for spending on the secured card), any fees involved in the obtainment of the card and how much interest will be earned from the account balance. No fees or other charges will be associated with the perfect credit card for bad credit and the smallest amount possible or a zero minimum would be required to be maintained. The credit limit will also be anywhere from ninety to a hundred percent of the balance. A decent rate of interest will also be offered on the ideal credit card for bad credit.

The concept of bad credit cards is good for those that have a poor credit rating by allowing them relief by allowing them to partake in the benefit of credit cards to improve credit standings.

Nick Makaryk is an Internet Publisher, Copywriter, and Founder of Best Credit Cards A Free consumer credit card comparison site helps consumers find the Best Credit Card while avoiding high interest rates, charges, and fees.

Author: Nick Makaryk
Article Source: EzineArticles.com
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By Jess Peterson, September 21, 2009 5:21 AM

If you are a college student, you probably have already heard about student credit cards. These credit cards work in the same way than regular credit cards do, but they have also some advantages that you should get to know if you have ever considered applying for a credit card.

Why To Apply For A Student Credit Card?

College students have many and unique financial needs. A regular credit card could suit these needs, but there are many requirements that financial institutions ask their candidates to accomplish before applying for credit cards.

Student credit cards are easier to obtain. Of course there are a few requirements to accomplish and documentation has to be presented as well as for regular credit cards, but it is a lot more simple to fulfill those requirements.

Advantages Of Applying For Student Credit Cards

First of all, you should have an employment with a fix income to apply for a regular credit card, and, if you are a full time student you know this is not always possible. Student credit cards are, as their names say, designed specifically for students. You do not have to be an employee to apply, and unlikely regular credit cards, there are no annual fees to be paid for this kind of cards. There are certain charges you will have like interest and maybe a small fee, but these charges will always be lower than those of regular cards.

Another good point to mention is that you can access to the different rewards or gifts that financial companies offer, as well as if you had a normal credit card.

Many financial companies offer for student cards owners as well as for normal credit cards owners, the possibility to access and manage their accounts online.

Where To Obtain A Student Credit Card

Although you may have received different credit card offers so far, Internet is still the best tool you have to look for your first card, you may also ask your friends and relatives which were their options and what did they chose.

Different financial companies, offer different student credit cards plans. First, try to determine what are you looking for, if low interest, a good reward program, student benefits, lower fees. And then you will be able to find and compare among those options you have, which student card suits your needs best.

How Can A Student Credit Card Help To Build Your Credit Score?

A student credit card may be the first step you give in building your credit record. This may not seem very important for you today, but you must have present that a good and well constructed credit history will turn into a car loan, mortgage, or any other loan type you may need to ask for in the future.

A Few “Always” Rules To Follow To Get A Good Credit Record

Always remember that your card should help you with your college’s needs. Do not blow your credit doing unnecessary shopping.

Always keep record of your purchases. Making a list and comparing the amounts when bills arrive, will prevent you of paying for things that you have not bought or paying twice the same purchase.

Always try to be on time and pay your bills in full, this will give you extra points in the future and keep you off extra charges due to late payments. At the same time, this may help you to start being a responsible adult.

Jessica Peterson is a Personal Loan Consultant with more than twenty years of experience. For more information about Personal Loans for Bad Credit People Guaranteed Credit Cards, Unsecured Loans, Fresh Start Loans, Debt Consolidation, Student Loans and others please visit http://www.yourloanservices.com

Author: Jess Peterson
Article Source: EzineArticles.com
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By Sarah Dinkins, September 21, 2009 5:21 AM

Once a person has the legal age, financial companies start offering many credit cards, either different or almost the same, depending on your age and credit score.

Credit cards are nothing but financial tools. If used wisely, they can help building a good credit record that will unlock the door to a big loan in the future, if you are thinking on purchasing a house or starting your business.

In the other hand, without responsibility, credit cards may turn your credit down and make you lose time and money trying to repair your finances.

Common Mistakes That People Makes With Credit Cards

People usually tend to spend more than what will be able to pay and this is the first step into debt. Even when it is OK to use a credit card to buy something that you really would like to have, you should not go through life buying everything you would like to have. The fact of having a big limit in one or many of our credit cards does not mean that we actually own that money, so the best thing to do is putting a limit to our monthly expenses and try to live within that budget.

Missing bills’ deadlines is extremely harmful to your credit’s health. You should figure this as if every bill you forget to pay lows one point of your credit. This may not seem important if you have forgotten to pay a bill this month, but think about how many points will you lose in your life for each late payment.

Filling in every form that we are offered to, is another common mistake. We are not always paying attention to what are we said about interest rates, fees and other charges, and most of the time we receive and use a new credit card in addition to those that we may already have, without thinking about the consequences. This is easy to avoid just by reading all terms and conditions before signing for a new plastic.

How To Use A Credit Card To Build A Good Credit Record

If you had never have a credit card before, it will be better for you to choose a secured card as your first credit card. Taking a secured credit card you will be asked to deposit a certain amount of money that will work as your credit limit. This may be boring at first, and you may feel a little uncomfortable to have a limit on your expenses, even more if you have a job and your incomes allow you to have an unsecured credit card. Why to start with a secured credit card then? It will teach you a good financial behavior. You will not be able to spend more than your limit allows you and you will not miss a deadline, since your deposit may be taken as a payment for the lender company. Of course, if this happens, you will have to do the deposit again to be available to use your credit card.

Once you feel comfortable handling with your credit card’s payments and you have learned to keep your expenses within a certain budget, you may want to apply for an unsecured credit card. If you have made no mistakes with your secured credit card, you will have already got many good points for your credit record, so you will be able to apply for a very good credit card. This means that you should take your time to evaluate what do financial companies have to offer to you before filling and signing any credit card form.

Unlikely prepaid credit cards that have no influence at all, secured and unsecured credit cards contribute for good or bad to your credit score. If you have sense when using them, you will have constructed a good credit record by the time you decide to apply for a bigger loan.

Sarah Dinkins is a financial advisor who has been associated with Unsecured Personal Loans since long ago. She also holds a master degree in economics from Harvard University. To find Online Bad Credit Loans, Personal Loans, Debt Settlement Programs, Bad Credit Auto Loans, Poor Credit Mortgage Home Loans visit http://www.badcreditfinancialexperts.com

Author: Sarah Dinkins
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By Darrin Roseborsky, September 21, 2009 5:21 AM

Has your credit score taken more hits than a car in a demolition derby? If so, you may be tempted to get a credit card and try to rebuild your credit with a solid, systematic track record of on-time payments.

Done correctly, this could possibly be a smart solution, but for too many people credit cards have been a one-way ticket to financial ruin.

For this reason I’m opposed to credit cards almost universally. However, if you’ve made the decision that credit card use is how you want to improve your credit standing, here’s how you can do it without risking your entire financial future.

First of all, don’t buy into the notion that an unsecured credit card is a good idea. Your credit report has already taken a number of hits, so you’ve already established a track record – and it’s not one of which you’re terribly proud. Take the moral and economic high road: go for the gusto with secured plastic.

Here’s how it works:

Your credit card lender will open a credit card account for you, secured by a “security” deposit equal to your credit limit. These companies will typically advertise credit limits as high as $10,000, but the reality is most credit limits are $500 or less. The reason? Most people can’t afford to deposit more than $500 in order to gain an equal amount of credit.

This is fine for you because it will keep your spending in check, while guaranteeing that your credit card account will be paid off if you default on your card member agreement.

You need to keep in mind that you’re going to have to come up with money on a monthly basis to pay off any purchases you’ve made with your credit card. The money may be in the bank, but your card issuer is going to pretend it doesn’t exist unless you don’t live up to your promise to make timely payments on the account.

These accounts do have a cost: Most have annual fees – some as high as $150 per year. They may charge you monthly membership, program, or participation fees. If you opt to carry a balance from month to month, you’ll also pay interest on a credit card backed by a savings account that doesn’t pay you interest. The cost can be substantial over time, but if you’re responsible with the account it will improve your credit. It won’t happen overnight, but it will happen.

There are a few steps you can take to try to minimize your costs: after you’ve established a consistent record of on-time payments, you can request that the credit card issuer reduce or eliminate the annual fee. The monthly fees are another area you can try to get reduced as well. There’s no guarantee your credit card issuer will go along with it, but it never hurts to ask.

It’ll take some time, but your credit score will begin to inch back up as you make your payments on time. It doesn’t take much effort to hurt your credit rating, but correcting the damage after the fact can take quite awhile.

Do you still want to pursue a higher credit rating with plastic or have you concluded it’s more trouble than it’s worth?

Darrin Roseborsky is a Refinance Specialist with OMAC Mortgages, seminar speaker and president of the Roseborsky Group and HomeRefinanceCoach.com. Darrin can help you maximize your equity properly and help you find options that make the most sense for your situation! Learn more about how it works at: http://www.homerefinancecoach.com

Author: Darrin Roseborsky
Article Source: EzineArticles.com
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