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5 Killer Steps to avoid Credit Card SCAMS!
In August, 2004, the Federal Trade Commission issued their findings of a recent study, which showed that nearly 25 million adults were victims of fraud. Now, most importantly, If you are a victim of fraud, please do not feel like you did anything wrong. It happens to all of us at one point or another, as the FTC's study clearly shows. Everyone likes a magic trick, and none of us are fully capable of noticing the con-artists' slight of hand. So, if you're a victim, take a deep breath. You're normal. But, there's an old saying that goes something like this: Fool me once, shame on you?Fool me twice, shame on me!" Here are 5 KILLER STEPS to protect yourself from Credit Card SCAMS! 1. NATIONAL NO-CALL REGISTRY: There's nothing more annoying then those credit card offers that you get over the phone. I don't know about you, but the last thing I want to be doing, while having dinner with my 1 year old daughter and my beautiful wife, is to be annoyed by phone calls from solicitors that just want to make money off me. Legitimate or not, these calls are a nuisance. If you're like me, and you would rather live without dealing with these calls, then go do this: Join the FTC No-CALL-Registry, and enjoy a reduction in telephone solicitation phone calls. 2. TELEPHONE SOLICITATION: Believe it or not, the vast majority of lenders out there are legitimate. Also, believe it or not, a lot of these lenders utilize telemarketing as a method of reaching out to potential customers. Who is this on the phone? Don't trust people you haven't had a chance to get to know. Don't let one enticing offer on a phone call, be your guide... 3. 1-900 NUMBERS: A 1-900 number is, of course, a phone number that charges the caller per minute for making the call. Whether it's a 1-900 number, or a future manifestation of the same type of telephone service, be wary of doing business this way. Use your common sense, and don't fall prey to the con artists slight of hand, such as the Advance Fee Load Scam... 4. ANNUAL FEES, INTEREST RATES, ETC.: Credit Card Scams come in all different shapes and sizes. Many of them are, arguably, not scams at all, but let's just call them credit card offers involving consumer unfriendly terms. c) Make sure you know what you are getting. Some offers are for secured cards, some are for unsecured cards, and some offers are for shopping portals online and offline (Like a department store card). So, while none of these are scams, by definition, it is important that you fully understand the terms of the credit card offer that you are agreeing to. Be a responsible consumer, and read the terms and conditions of your credit card offer... 5. THE UNITED STATES FEDERAL TRADE COMMISSION:: The best place to go for direct consumer information, protection, and remedy, is the United States Federal Trade Commission... The FTC is there to help... SUMMARY: Use the No-Call Registry to cut down telephone solicitations in your home and places of business. While many legitimate lenders utilize telemarketing, be careful. Don't give out personal information to people you don't know, don't pay up-front processing fees over the phone, and get everything in writing. Consider yourself an advised consumer on "Advanced Fee Load" Scams, and look out for the signs, when these scams regrettably make their way to you. Read the terms of the offers that you are considering, and utilize the FTC website for trusted information, resources, and all related materials on consumer credit card issues. We've enjoyed providing this information to you, and we wish you the best of luck in your pursuits. Remember to always seek out good advice from those you trust, and never turn your back on your own common sense. Publisher's Directions: This article may be freely distributed so long as the copyright, author's information, disclaimer, and an active link (where possible) are included. Disclaimer: Statements and opinions expressed in the articles, reviews and other materials herein are those of the authors. While every care has been taken in the compilation of this information and every attempt made to present up-to-date and accurate information, we cannot guarantee that inaccuracies will not occur. The author will not be held responsible for any claim, loss, damage or inconvenience caused as a result of any information within these pages or any information accessed through this site. About The Author Tom Levine provides a solid, common sense approach to solving problems and answering questions relating to consumer loan products. His website seeks to provide free online resources for the consumer, including rate-watch, tips and articles, financial communication, news, and links to products and services. You can check out Tom's website here: http://loan-resources.org, or you can email Tom at info@loan-resources.org. Copyright 2004, by Loan-Resources.Org MORE RESOURCES:
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GOOGLE SEARCH Warning: Free Credit Report Imposter Websites Springing Up on the Web A recent amendment to the federal Fair Credit Reporting Act (FCRA) requires each of the nationwide consumer credit reporting companies to provide consumers with a free copy of their credit report, upon request, once every 12 months.Access to the free credit reports has been phased in beginning last December in the West and will finally be nationwide by 1 September. Ways to Look Good without Selling Your Soul to the Credit Card Sharks 1. Buy clothes at thrift stores. Are you paying higher interest on your credit cards than you think? Many credit card holders sign up for a credit account with an 8.9% interest rate and then later realize that their interest rate has been bumped to 27. How to Improve Your Credit Rating So you got into debt, had problems but you got yourself back on your feet through hard work and sacrifice and how are you rewarded? A Bad Credit Rating.You would be forgiven for thinking thats not fair and why did you bother sorting yourself out if your hands are still tied when it comes to applying for anything financial? There are ways to improve your credit rating and get back on track completely. Useful Tips When Choosing Credit Cards Chances are you have received your share of "pre-approved" credit card offers in the mail, some with low introductory rates and other perks. Many of these solicitations urge you to accept "before the offer expires. 10 Simple Steps to Manage Your Credit By far the greatest invention the banks have ever come up with came out in the 20th century. Also the new field of Credit Management was born with the invention of the credit card. Credit Report Secrets: Do You Know What They Reveal? If you've ever applied for a credit card or loan, you've probably hadyour credit report reviewed by the lender. Your credit report has a huge impact on your financial future, so it's well worth your time to be sure that you understand what your credit report says about you. Compare Credit Card Offers and Reward Yourself Here's a simple system on how to pay zero interest and get tons of free stuff. Almost everyone uses credit cards. Bankruptcy vs. Credit Counseling: What Should I Do? Credit Counseling and bankruptcy are both ways to relieve the stress of debt. However, they are very different and it is important to understand both before making a decision as to which is best for you. Collection Agencies: What Do They Do? Collection agencies are businesses that collect past-due bills and accounts receivable for other persons or businesses in exchange for a fee. Collection agencies charge for their services one of three ways:1) A flat fee. What Happens When Your Credit Is Damaged? Do You Have Recourse? The good thing about bad credit is that you can fix it. If you start now, over time, your bad credit can turn into good credit, and you could qualify for the loans you want at the rates you want. How to Avoid Credit Card Late Fees Everyone hates late fees and being late will cost you dearly these days. For some credit cards today, if you are late, you will have to shell out as much as $40 each time. Its Your Credit - Take Care of It! Thanks to the Fair and Accurate Credit Act, American consumers can receive a free annual credit report from each of the three major credit bureaus-Experian, TransUnion and Equifax. You can order your free credit report by visiting www. Useful Tips on Using Credit Cards Here are some useful tips on using credit cards. Whether you shop online, by telephone or by mail, a credit card can make buying many things much easier; but when you use a credit card, it's important to keep track of your spending. Everything You Always Wanted To Know About Your Credit Report Your credit report is a very powerful report that essential controls what you can and cannot do in your life. Unfortunately many people aren't aware of what a credit report actually is and what information is contained on the report. The Top 5 Secrets to Managing Your Credit Cards-So They Won't Manage You You've probably never heard of Frank X. McNamara, but he revolutionized the way you shop on a daily basis. A Cure for an Ailing Credit Credit has become a much-used word, thanks to the various connotations that it is being used in. Transactions in which the payment is deferred to the near future are termed as credit transactions. Maximizing Credit Card Rewards In their quest to get you to sign up for their credit card, banks and financial institutions are coming up with more and higher incentives to entice you. Frequent flyer miles gave way to gas miles which opened the door for cash rebates and reward points to be used at 'our fine member merchants'. Credit Score: The Brightest Feather In Your Financial Cap Credit scores are the most important aspect that determines your financial future. Carrying a good credit score is an asset and can pave your future towards greener pastures. First Major Regulatory and Legislative Victory of 2005 for Creditors and Consumers Under the Fair Debt Collection Practices Act, collectors are not allowed to disclose a consumers past due debt to anyone other than the debtor and in some cases a spouse. The Telephone Consumer Protection Act would have required collectors to identify the registered name of their business in any pre-recorded messages to consumers or debtors. |
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