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Prevent Credit Card Fraud Before It Happens

January 25th, 2011 by Logan Abbott

According to the Unisys Security Index, credit card fraud is the top financial security concern in the United States. Affecting over 11 million U.S. cardholders a year, credit card fraud is the most common form of identity theft, and criminals are finding easier ways to scam cardholders than ever before.

4 Ways to Avoid Credit Card Fraud

Don't let yourself become a gosh diddly darn victim. Stop scammers before they strike by avoiding these four common credit card fraud opportunities.

Foreclosure, Short Sale, Deed-in-lieu: All the Same to FICO

Lots of lawyers, real estate agents, and loan officers love to give free advice about credit scores these days. Unfortunately, many of them have no clue what they're talking about.

A common piece of misguided advice often doled out to struggling homeowners is that choosing an alternative to foreclosure, such as a short sale or deed-in-lieu of foreclosure, will hurt your credit scores less. This just isn't the case.

Updated by Joshua Heckathorn on Sun, 2011-01-23 16:00

Top 10 Credit Cards for Students

January 21st, 2011 by Alice Bryant

We've all heard the horror stories. In fact, you're sure to know a handful of friends or relatives who've racked up an eye-popping amount of credit card debt while in school, and now they're paying dearly for it. As a college student, you may be feeling as though you don't want to get involved with credit cards at all. And while there's a good case to be made for avoiding credit cards at a time in your life when you might be especially tempted to rack up debt, there are also many advantages to using credit cards wisely during the college years.

How to Pay Off Debt: Determining Your Best Course of Action

Personal finance gurus love to argue about which debt you should pay off first. Browse the Internet for just a few minutes, and you'll find volumes of painfully long articles rehashing the same old approaches to paying down debt.

If you haven't found the time to read them all yet, there's no need to worry. Here's a summary of what they basically all say in one sentence.

Either pay off the smallest debt one account at at time, or get rid of the highest-interest debt first. Neither of these methods are new. Rather, they've just been given fancy new names.

Updated by Joshua Heckathorn on Thu, 2011-01-20 16:00

Traveling with a Credit Card: Tips and Tricks

January 19th, 2011 by Logan Abbott

Seasoned travelers never seem to have to deal with the same fears as the rest of us: pickpockets, stolen credit cards, crazy high conversion fees, identity theft. Beyond that, seasoned travelers never seem to follow the same precautions as paranoid, green travelers, who run out to buy a cross-body, Kevlar-enforced, locking, zipping, security purse before they even book a hotel. Part of that is probably sheer confidence - frequent travelers rarely look like tourists and therefore avoid detection from preying pickpockets. The other, bigger part is that with a few precautions, that giant traveler's purse may not be completely necessary.

Free Checking: Another One Bites the Dust

January 18th, 2011 by Joshua Heckathorn

I've had a free checking account with WAMU (now Chase) since 2004. And while I've never used it as my primary checking account, I did maintain a decent balance while running several transactions through it each month. Frankly, it was just nice to have around when I needed it, and I probably would've never thought about closing my account had it not been for a letter I received from Chase a few weeks ago.

Know Your APRs

Most credit cards have more than one APR. However, credit issuers tend to focus their advertisements on just one—attractive introductory APRs that usually last for 6-12 months after a new card is issued. But while promotional interest rate periods for no interest credit cards can certainly be enticing, it's really important to understand what will happen to your APR once the promotional period ends.

Updated by Joshua Heckathorn on Sun, 2011-01-16 16:00

4 Tips to Help Spot Credit Scams Online

January 14th, 2011 by Logan Abbott

So you've been searching around on the internet for hours trying to find a fantastic deal, and you think you've got it. Seven cases of Pepto-Bismol for only $27.99? Where else can you find savings like that? Once you read the fine print, however, you realize that there's something fishy about this vendor. Their mailing address is a P.O. Box in Micronesia, the listed phone number is missing a digit, and there's nothing about return policies anywhere on their site. As far as fraudulent websites go, this one sticks out like a sore thumb. Unfortunately, not all scam websites are this conspicuous. So unless rebuilding credit is a favorite pastime of yours, take heed of these 4 trusty tips on how to spot situations where you should never give out your credit card info.

Ask Creditnet: Beacon vs. FICO Scores

January 13th, 2011 by Joshua Heckathorn

FICO credit scores Dear Creditnet: I recently applied for a home loan and was completely caught off guard by my credit score. I subscribe to a credit monitoring service, so I thought I knew my scores before I began the application process. Boy was I wrong! I thought my Equifax credit score was 668, but the score my banker pulled was 618. He told me they use the Equifax Beacon 5.0, so why is there such a difference? They're the same scores, right? Unfortunately, this 50 point swing is costing me an extra 1.5% in interest. Ouch!

How to Budget and Save Money

January 11th, 2011 by Logan Abbott

"Save more money" is a very normal goal for a New Year’s resolution. But if you aren’t rolling in disposable income, it can be tricky to figure out where to pinch the pennies that will pay off in the long run. Setting a budget – even a loose one – is the easiest way to have a few extra dollars to tuck away each month.

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