Archive for the ‘credit monitoring’ Category

Poor Credit Can Harm Your Chances of Good Employment

Wednesday, October 8th, 2014

Is that fair?  Probably not, but it’s true.

A 2012 survey by the Society of Human Resources Management indicates that as many as 47% of employers check credit before making hiring decisions. The premise is that individuals with poor credit are probably having financial difficulties and so might be more likely to embezzle funds or sell company secrets for a profit.

That has no bearing on your ability to perform a myriad of jobs to an employer’s satisfaction, but it still might have a bearing on whether you’re chosen for the job.

You can deny them the right.

Before a potential employer can check your credit, you must sign giving your permission. You can refuse, but then what are your chances of being hired? Refusal could be (to them) a clear indication that they’ll see something damaging on that report. They may not be able to turn you down based on the refusal, but it’s easy enough to find some other reason to choose a different candidate.

What can potential employers see?

They can’t see your credit scores, but they can see all of your identifying information such as address, date of birth and previous employment information. They can also see your trade lines and credit accounts and take note of the number and nature of inquiries into your report. Finally, they can see things of public record, such as information on collections, foreclosures, bankruptcies, etc.

They’ll also see any mistakes that appear on your credit report:

Credit bureaus are quick to admit that up to 70% of all credit reports contain some kind of error. It may be something simple, like a misspelling of your name, or it may be something serious. For instance, a missed keystroke could put someone else’s collection on your report just because your social security numbers are one digit apart.

“70% of all credit reports contain some kind of error”

That’s one of the reasons why it’s important for every citizen to access their credit reports with regularity, and to read them carefully. When you spot a mistake and report it quickly, it has less time to do damage.

“Thieves can open new accounts completely without your knowledge”

The second reason is identity theft. No one is immune from the threat, and one of the fastest ways to discover it and stop it is by keeping a close watch on your credit accounts and your credit report. Thieves can open new accounts completely without your knowledge. All they have to do is use a bogus address.

So be careful. Get your credit report and read it carefully. If there’s an error or an account you don’t recognize, report it immediately.

Click here to get your report today.

Secured Credit Card Q & A

Wednesday, July 23rd, 2008

I have run into credit problems during the last 2 years. Once the economy in the real estate industry went bad, I had to let all my credit cards go. My credit report is ruined now along with my once good credit score. I have starting settling on all my credit cards which everyone has been eager to do. What I need to do now is re-establish my credit again since everything went to collection. What credit card do you recommend I apply for? Can I even get a credit card with my credit scores the way they are now?

Bob Lutz

Hi Bob,
Sorry to hear about the real estate affecting your credit report. You are not the only one that has felt the affects of what has gone on in Real Estate. Since you are settling on your debt currently your credit score will eventually go up. Make sure that you get letters from these creditors stating that you have settled on all your debts. I just thought I would mention this. In order to get a credit card, you will more than likely need to apply for a secured credit card it does not sound like Credit Card Company will extend un-secured credit to you for while with all the recent credit card collections. Go here and select the Orchard Bank credit card. This is a low fee secured credit card. Also under the site there is a button for bad credit credit cards. You might also select one more within that link. You really need a couple new cards to get your credit in the right direction again.

Common ways identity theft & fraud are committed

Tuesday, July 15th, 2008

Most people don’t realize how easy it is for someone to steal your identity without breaking into your home. In public places criminals may engage in what they call shoulder surfing, watching at a nearby location as you punch in your telephone calling card or a credit card number. They may also listen in on a conversation as you give a credit card number over the telephone to a rental company or hotel.

The area near your home or office may not be safe. Criminals can engage in what they call “Dumpster Diving” and go through you trash, communal dumpster to obtain checking account numbers, credit card applications, and bank statements. These types of documents make it easy for criminals to steal your identity.

If you receive pre-approved credit card applications in the mail and disregard them without shredding them, identity thieves will try to activate them without your knowledge. Some credit card companies require credit cards once approved to be activated from your home phone, but this practice is not universal yet. Also if you mail is sent to a place where it can be easily accessed a identity thief may redirect that mail somewhere else.

During recent years the internet has been a target of identity theft. Criminals try to get personal information by spamming people and requesting personal information posing as a bank. They also sent e-mails offering some service that really is not present.

With enough of you personal information a identity thief can take over your identity and wreck your life. They can drain your banks accounts, saving accounts, charge up your credit cards, apply for new credit, and file bankruptcy in your own name. This is serious business. This will also destroy your free credit reports and good name.

Manage your credit and avoid pitfalls so you can retire

Monday, July 14th, 2008

Everyone’s goal I believe is to have financial freedom. We all are striving to retire someday. There are some steps in life we need to take to get there. In this article I wanted to discuss some very important measures needed to get the security in place for you. There all kinds of caveats like identity theft, your credit scores, interest rates, and terms on loans that could interfere with you saving for the golden years. Learn how to proper manage these items so you can save and avoid pitfalls.

With the internet revolution buying stuff on the internet is pretty simple and secure these days. The access to your personal information may not be secure. There are some steps we need to take during this era so we don’t have issues. Remember the goal is to feel secure with our nice little nest egg.

Step 1: manage your free credit reports
The government has stepped in and required the credit bureaus to provide you with a free credit report once a year. Is this good enough? No, you need to pull your credit report at least every 4 months. That way if someone is using your credit or credit cards, you will find out before it’s too late.

Step 2: Set up credit report monitoring
While you are pulling your credit report make sure you set up credit monitoring. With identity theft being the biggest crime ever, you cannot afford to wonder whether someone is using your credit. There are too many opportunities for identity thieves to get your information. Protect yourself today.

Step 3: Don’t open e-mails you don’t recognize
While you are saving as much as you can the last thing you want is someone to send you an e-mail posing as your bank. If someone sends you an e-mail asking for personal information, immediately delete it. I would recommend installing spam software so you don’t get junk and identity theft e-mails.

Step 4: Manage your creditworthiness

If you implement the steps mentioned, you should be able to get the best rates and terms on loans. This in return will save you money in the long run. Saving money in the long run will allow you to save more money for retirement.

So this proper credit management is really a way of life these days. We have to stay on top of our credit just to make sure that we are not getting ripped of by identity thieves, and to make sure we don’t get charged high interest rates on money borrowed. By implementing all of this you are one step closer to enjoying the golden years.

Safeguard your identity from Identity Theft

Wednesday, July 2nd, 2008

I don’t think I can write enough about this subject, identity theft is going on everywhere now. I wanted to give some more tips on what the experts recommend on safeguarding your private information from identity thieves. In the current day and time you cannot be too careful on protecting your personal information. Once it happens to you its too late and is very hard to get resolved in a timely manner.

• Don’t carry too many credit cards in your wallet, maybe only one is necessary.
• Don’t carry your social security card in your wallet.
• Don’t put your social security number and driver’s license number on your checks.
• Don’t pay your bills in the mail, use on-line services. You may also use the post office.
• Use complicated username and passwords.
• Memorize your username and password, never write them down
• Install virus protection software on your computer
• Don’t give out your personal information over the phone
• Check all 3 credit reports every 4 to 5 months.
• Don’t open any attachments or emails sent to you from unknown senders.
• Look out for suspicious mail that might ask you to apply for a credit card or other types of credit.
• Change your password every few months
• Shred all bills
• Opt-out of receiving credit card offers in the mail by calling 1-888-5-OPTOUT
• Get your phone numbers and address removed from reverse directories and phone books.
• Subscribe to credit monitoring services that alert you quickly
• Buy identity theft insurance.
• Review your social security and benefits carefully every year.
• Pay for stuff with cash instead of credit cards and debit cards.
• Install firewall software on your computer
• Ask business that keep your personal information about there storage and security process.
• Have you mail sent to a P.O. Box.

With 50,000 people a year getting there information stolen you can rest assure its on epidemic proportions. This crime is growing so fast that you cannot afford to just assume it will not happen to you. Protect you and your families get all of the information mentioned above in place. Its worth spending a little extra money to save yourself thousands and countless hours fixing identity theft.

Disclaimer: This information has been compiled and provided by as an informational service to the public. While our goal is to provide information that will help consumers to manage their credit and debt, this information should not be considered legal advice. Such advice must be specific to the various circumstances of each person's situation, and the general information provided on these pages should not be used as a substitute for the advice of competent legal counsel.