If you’re looking to improve your credit, you’ve probably heard a million suggestions on how to go about it. Some advice may be right, but a lot may be wrong. What should you believe?I’m here to help clear up the confusion. Below are five of the most common misconceptions about credit. Get to know the facts, and it’ll be a lot easier to keep your credit happy and healthy. So, the top five credit misconceptions are…#5: Closing old accounts will improve your credit score Not true. The key word here is “old.” When you close old accounts, you shorten your credit history. And that can actually lower your credit score. If you want to close your accounts, be sure to start with the newer accounts first. This will help keep your long established credit history on your credit reports.#4: Co-signing a loan doesn’t make you responsible for the account Wrong. If you open a joint account or co-sign a loan, any activity on those accounts will show up on your credit report. For example, if you co-sign a car loan for your brother and he misses a payment, that will show up on your credit report. Think of any joint […]
Full Article At: KnowHow-Now.com Articles
One of the fastest growing crimes in the US today is identity theft. It happens when another individual uses your personal information without your permission. The most common information stolen are names, credit card numbers and social security numbers. With this info, any fraudsters can apply for a credit line and use it for his own purpose.
One will not find out right away that their information has been stolen. Usually, a victim finds out of the crime when he notices significant changes in his bills. There will be charges for items he did not purchase or worse, when his attention is being called for by a debt collector.
Identity theft is a serious problem. Some may easily recover from the experience but some are not that fortunate. In most cases, people would spend hundreds of dollars for lawyer services and wait for years repairing the damage. This usually happens when the information is used several times by different identity thieves.
Many are wondering how thieves steal personal information. And how do they do it so easily. Well for identity thieves, your information is as good as cash. This is the reason why these fraudsters have developed ways on how to acquire anybody’s […]
Full Article At: KnowHow-Now.com Articles
If you have been the victim of credit card identity theft and you need to restore your credit rating because you have had your credit card or credit card details actually stolen, or because someone has applied for and received a credit card using your name and social security number, you may be at a loss as to where to begin.
First, you can take pre-emptive measures against identity theft as soon as you receive a new credit card. You should photocopy both sides of all your credit cards so that as soon as one of them is lost or stolen you will be able to report that it is missing and have that card account closed.
Second, you should never carry any credit cards which you do not intend to use, and you should have only the number of credit cards that you absolutely need.
As soon as you realize that your credit card is missing, or that there are unexplained charges on your monthly statement, you will have to assume that you are a target of credit card identity theft, and to restore your credit rating you need to stop the missing or compromised cards.
If someone has obtained your name and […]
Full Article At: KnowHow-Now.com Articles
