Thrifty Mommy » credit-report

Credit card tips for college students

Jennifer Chait — Sun, 16 Aug 2009 00:45:27 +0000

Illinois Governor Pat Quinn just created a law (that was recently signed in) that’s set up to protect college students from racking up credit card issues early on. The law’s goal is to place more responsibility on credit card issuers when it comes to handing out freebies and extras to college kids.

Even with the new law, the Illinois CPA Society notes that college kids still need to practice smart and responsible credit card ownership, such as…

Do shop around before choosing a card. Look at and compare monthly rates, grace periods, transaction fees, rewards, and penalty charges.
Don’t pay late which will incur costly fees.
Do protect your card. Don’t give out pin numbers, account numbers, or ever loan your card to anyone.
Don’t fall for low teaser credit card rates. These are rates that seem amazing, but actually only last the first few months.
Do review your monthly statements. Credit card companies make mistakes or charge you fees they shouldn’t have. Plus it’s smart to check for any suspicious charges.
Don’t toss statements for about a year – it’s wise to have them on hand for any potential charge disputes.
Do check your credit history annually. Check out your credit history by obtaining a free credit report.

[image via stock.xchng]

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How to check your credit report

Jennifer Chait — Mon, 27 Apr 2009 17:35:25 +0000

It’s pretty easy to check your credit report, and you should at least annually. It’s smart to look your report over because one, bad credit can stop you from getting a new credit card, an apartment, a car loan, and plenty of other things, and two, there may be incorrect info on your report. Either way, you need to know in order to fix your credit. Another reason you may want your report is if you’re planning on car shopping, buying a home, or doing some other large activity involving credit. This way you know where you stand and can bargain for better rates.

You can get a free credit report IF:

You’ve recently been denied credit for any reason. You have to request the report within 60 days.
You’re unemployed and are actually planning to apply for work within 60 days of requesting a report.
You’re receiving public assistance.
You think your credit report may contain errors due to fraud – for example, someone applies for a credit card, bank account, or car loan in your name (or using your social security number).
You haven’t had a credit report sent to you during the past year – everyone is entitled to one free credit report a year (BUT note that it won’t be in-depth).

To get a free credit report you’ll need to contact one of the major credit bureaus:

All of the above send pretty much the same report if you’re getting one free. They each also offer in-depth credit reports, but it’ll cost you. Something important to note is that if you check your report, it won’t lower your score. This common misconception is likely due to the fact that other people checking your score can lower it. Say you apply for credit every two months – THAT can lower your score, but you can check your own credit.

So have you checked your credit lately?

[image via stock.xchng]

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Get Free Credit Scores

Karen Weideman — Thu, 19 Feb 2009 04:20:06 +0000

To get your free credit score try Quizzle.com, CreditKarma.com or Credit.com. These sites do not offer the not the official FICO, but an approximation of it.

The only place to get your free credit report once a year is AnnualCreditReport.com. Accept no other source!

Thanks to Clark Howard for the information.

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Identy Theft Prevention 101

kellys — Fri, 21 Dec 2007 15:15:42 +0000

My purse was stolen right before I was to fly out to see my family for the holidays. UUGGHH!! Things like that only happen to me. Now I have to worry about identity theft. Luckily I din’t have any credit cards in my purse, just a debit card and a bank card. But I did have 2 check books in it so I have had to close out 2 accounts and redo all the online banking from those accounts. It’s a huge ordeal. Luckily, I had a valid passport so that I could get onto the plane since my driver’s license was taken as well. So here are a few ways to avoid identity theft so that you don’t have to stress like I do.

Carry only the bare necessities in your wallet in case it is stolen.
Do not carry your social security cards. A driver’s license should be all you need for most things.
Shred any financial offers that you get in the mail since someone can get your info and then dig through your trash to get an offer approved.
Do not put your social security number on your driver’s license if you don’t have to.
DO NOT give out any personal information out over the phone unless you are absolutely sure as to whom you are talking to.
Do not apply for any credit cards over the phone.
Use only secure sites for ordering anything online.
Use only sites you are familiar with unless you can talk to someone first.
Use common sense.
LOCK YOUR DOORS!

Be careful as you only get one identity and it is a huge mess to clean up. Don’t forget to monitor your credit on a routine basis.

Post from: Thrifty Mommy

Get Your Free Credit Report

Karen Weideman — Fri, 29 Dec 2006 04:08:11 +0000

Identity theft has been on the rise for several years now. The best way to keep track of all of your accounts is to order copies of your credit report on a regular basis.

Due to new Federal Consumer Protection laws, everyone is allowed to receive one free copy of their credit report per year from each of the credit bureaus. Since there are three major credit reporting bureaus, this means you can get a free copy every 4 months.

Be sure and write down the dates on your calendar or palm pilot to remind you of when you need to order one of the three free credit reports. For instance, you can get one from Equifax in January, Experian in May, and TransUnion in September.

Remember, it can sometimes take years to get your identity back and prove your innocence. This prevention measure can save you big bucks and migraines when it comes to identity theft or other credit related headaches.

You may order each of your free copies from:
Annualcreditreport.com:
Annual Credit Report Request Service
P.O. Box 105281
Atlanta, GA 30348-5281

For further reference:
Equifax (800-685-1111), Equifax.com
Experian (888-397-3742) Experian.com
TransUnion (800-916-8800). Transunion.com

P.S. Be very skeptical of any other companies that offer free credit reports.

Post from: Thrifty Mommy