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•Identity Theft Scams
by: James H. Dimmitt
Identity Theft scams continue to flourish on the web. One that you need to be aware of and beware of is any site that seems to be selling high-demand items (digital cameras for instance) at a much lower (almost unbelievable) price than you can find on other sites or the manufacturer’s site.
Often the victim’s are told to pay nothing until they receive the merchandise. The person behind the scam uses the victim’s name and a credit card number belonging to another...
•4 Steps to Establishing Good Credit
by: James H. Dimmitt
As a consumer you’ve learned the importance of establishing a good credit rating with your lenders. Whether you are shopping for a new home or auto, or searching for the best deals on insurance, your credit worthiness will be judged by your credit rating or credit score.
A bad credit history or bad credit habits will place “black marks” on your credit profile. These include things such as late payments, having an account assigned to a collection agency, and of...
•New Law Provides Free Annual Credit Report
by: James H. Dimmitt
As of Thursday, December 1, 2004, one-third of Americans will be able to access their credit reports from all three main agencies for free. Passed in late 2003, the Fair & Accurate Credit Transactions Act creates a central source consumers can use to obtain a free annual credit report.
Equifax, Experian, and Transunion,the three largest credit reporting agencies, have set up a special site where consumers can request, view, and print their free report. That site is...
•Legislators Ponder New Credit Protection Laws
by: James H. Dimmitt
Legislators in Washington, D.C. are considering several credit-related consumer protections as outlined in The Fair and Accurate Credit Transaction Act of 2003 (H.R. 2622). If approved, consumers could benefit from the most wide-ranging changes to the rules covering consumers and credit in decades.
One of the most important changes would be the right to receive a free annual copy of your credit report, upon request, from the three major credit reporting agencies:...
•How To Boost Your Credit Score
by: James H. Dimmitt
Years ago your credit score was a big secret, known only to a select few such as your mortgage and credit card companies. In 2000, Fair, Isaac Co., the major supplier of credit scoring software, announced they would begin sharing credit scores, also known as FICO scores, with consumers.
What is a credit score? A credit score is a tool used by credit grantors to determine your ability to repay your debts. The information in your credit report is compared and evaluated...
•Don t Let The Holidays Detour You From Your Financial Goals
by James H. DimmittDo you dread going to your mailbox and finding yet another credit card bill? Do you find yourself worrying about how you’ll pay your bills from one month to the next ?Guess what ? You’re not alone. Almost half the households in America report having difficulty paying their minimum monthly payments on credit card bills and other debts.We have become a nation hooked on credit. Recent government statistics on American debt show that: ~ Over 40% of US families spend more than...
•The Simple 10 Debt Elimination Solution
The Simple $10 Debt Elimination Solution
by: James H. Dimmitt
Ask a friend what resolutions they made for 2004 and your bound to hear them reply “Pay off my credit cards.” Ask them how they planned on reaching that goal and many of them will not have a clear cut answer.
The obvious first step to paying off credit card debt or paying down credit debt load is to cut back or eliminate the use of your credit cards. For some people this first step can often be the most difficult. If you’re...
•Credit Help For Renters And Others On The Horizon
by: James H. Dimmitt
Sue is a homeowner and pays her mortgage and other bills on time like a good credit consumer. Sue’s on-time mortgage payments are reflected in her credit score profiled by the three major credit bureaus; Equifax, Experian and Trans Union.
Joe on the other hand is a renter, who wants to buy his first home in the near future. He pays his rent on time every month as well as his phone and utility bills. Joe is also a good credit consumer but his on-time payments are...
•Convenience Can Be Costly
by: James H. Dimmitt
You’ve just opened your credit card bill and attached to your statement you find a “convenience check” included. It may already be filled out with a dollar amount such as $300, $500, or even $1,000. Your mind fills with ideas of what you could buy with this “instant” money. A new summer wardrobe, a nice dinner and tickets to a concert, a weekend getaway.
But before you go off on a shopping spree, you should be aware that your “convenience check” is nothing more...
•Have You Checked Your Permanent Record Lately
?
by: James H. Dimmitt
As a young student I feared getting bad grades because I didn’t want any bad marks on my “permanent record.” Get an “F” in fifth-grade science and it goes in your record. Act up in Mrs. Brown’s class? Yep, it’s in your record too. Get caught using a swear word and it’s not only in your permanent record but it goes right at the top! When you go to a parochial school like I did, you come to believe that there really is some mysterious file that follows you for the rest...
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