Dangers of Debit Cards

So debit cards are the safe way to use the Visa or MasterCard name, right? After all, you’re not paying with money you don’t have.

Yes, in most cases, a debit card is safer. However, this doesn’t mean there aren’t a few dangers to watch out for. Here are the two dangers that come to mind:

1. The danger of fraud charges. Whenever a person steals your wallet and uses a credit card from it, this won’t take money out of your pocket. If he manages to use your debit card, he could take literally every penny from your savings or bank account.

2. The danger of extra fees. Be Some banks might charge as much as 75 cents to a dollar fifty for each purchase. One tip: If you use your card at a swiping machine and it prompts you to select either debit or credit, select “credit.” This will take the money from the same place, but you won’t incur an extra fee.

Why Do Employers Run Credit Checks?

Okay, the criminal background checks we get, but why so many prospective employers run a credit check on someone before hiring him? One study says as many as 20 percent do so! There are actually a few reasons.

1) To determine the prospect’s responsibility. By running a credit check, the employer can figure out if you’re sloppy in your personal life or take responsibility for your actions.

2) To identify who you are. Identity theft is nearly an epidemic today, so by running a credit check, they have more assurance that they’re paying the right person.

3) To verify your employment history. Let’s be honest: a job applicant
Employment History Verification. Another reason why prospective employers run credit checks is for employment verification. Since an employee can write whatever he or she wants on a resume or application, employers must be careful about believing what’s been written down.

4) Workplaces that deal with money sometimes run checks to see if you’re likely to steal from them.

None of this is meant to defend the employer’s practice of using credit checks–just to prepare you for the fact of life as it exists.

Student Loans with No Credit Check

Yes, it’s possible that even as a young person about to enter college, that you’ve already done damage to your credit record. And yes, it’s possible that this could damage your chances of getting a student loan.

But not necessarily. Believe it or not, there are such things as no-credit-check student loans. Sort of.

In reality, any time you apply for a loan, the financial institution granting the loan will be scrutinizing your credit record. Consequently, only if your record is adequate, or if you have a co-signer whose credit is adequate, will you get the loan.

However, this trick works for most students with poor credit. If he has taken a loan from three banks, he can apply to have the loans consolidated, if he has a repayment record for a minimum of six months. He can then consolidate the loans with the third one. If all of his repayment records are sufficient, he will in essence be getting his student loan without passing a credit check.

Another option that can be turned into a student loan is a payday loan. Many places offer this service to those who have an emergency need for money, and will approve up to $1,500 if you have a job.

Are you Considering Bankruptcy?

Don’t feel bad. Bankruptcy has more than doubled in the last 3 years. Partly due to the fact of the housing, and foreclosure situation. However, there are a large portion of citizens filing bankruptcy’s because of inaccurate information on there credit reports! If you’ve been following me, you know I talk at length in my articles, and blogs about checking that darn credit report of yours. Believe me, I was like you. When I was younger, I didn’t think that it mattered, or that they keep those things pretty accurate. Well wrong. When I was considering a bankruptcy five years go, the attorney had my report pulled up, and I found things on there I couldn’t believe. Statements for credit cards I never owned, debts from collection agency’s that weren’t mine. Fortunately, my lawyer was able to simply contact the credit report bureaus, and have them removed. It was fairly easy. End the end, it allowed me to save money, and pay off my real debts much faster, saving me from a bankruptcy. So my message today is, if your going to do a bankruptcy, please make sure you have all the facts, and that its for the right reasons. Its much easier to fix your report, then to live with a bankruptcy on your report for the next ten years.

Want the best credit card on the market?

Well I definatly found it! It’s the Blue Card from American Express. Check this out, you can go online, and fill out a super easy application, and get a decision online instantly! I literaly mean within 60 seconds, now that’s super fast. I mean who’s got time to fill out pages and pages of applications, and wait weeks to find out that they have denied you? Plus there’s no annual fee, and you can earn 5% cash back on every purchase, anywhere! Now you can’t beat that. Oh, and get this, its a 0% APR card as well. Now that’s always good. Who want’s to pay for high interest rates? The credit card companies make enough money dont you think? This card is also a balance transfer card, with only 2.99% for a full year! Seriously, can it get any better? Plus, everybody knows that American Express is the cadillac of credit cards, and this particular one allows you to make payments on any balance you have, instead of owing the full amount. So what are you waiting for, check out your online credit card issuer, and get signed up today.

Need a Good Reason to Get your Credit Report?

How about I give you five reasons. A credit report, can be one of the most important pieces of paper regarding your life. Unfortunately, most of the people in this country have no idea whatsoever what their current credit status is. They either, don’t have the time to check it, or don’t think it’s important. However, it is extremely important. Simply because of the fact that most of the things that we want, or need in our lives, have to either be bought on some kind of payment plan, or through a financial loan. In order to make sure you get that loan, you must have a good credit score. Now, I have written an excellent article on the subject, listing five good reasons why you should check your current credit rating. If you have the time please check it out. It’s at http://www.ezinearticles.com under my name Trevor Poulson, in the credit help or, credit advice section. It’s titled “5 Reasons to Get Your Credits Report Today.” Take the time to read it, I promise you it will change your mind on how you feel about looking at you credit score.

What Exactly is a Credit Score?

Basically it is a numerical value that financial institutions go by when determining a person’s credit worthiness. The higher the score, the more you can be trusted to pay back the loan you might receive. However, did you know that all three major credit reporting institutions, go by their own credit scoring system? Not counting your FICO credit score. I believe this kind of system actually works against itself. We should have some form of nationalized standard credit scoring system. This is why people become confused as to what their score really is. With four different possible credit scores, it is no wonder people are confused and frustrated with the credit situation in this country. People go to buy house or car, thinking that their credit score is one number, only to find out that a financial institution has turned them down based on a totally different number. That is why you must get an up to date, and accurate credit report, that lists your credit score from all three major credit reporting institutions, including FICO.