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Credit Finance Tips
Submitted By: Tommy Black in Finance Tips category
Using credit now a days is a common practice. We all use credit in the form of credit cards, credit loans, consumer credit, car credit etc. Here are some credit finance tips that will make the use of your credit hassle free.
Identity theft is one common problem you face while you deal with credit finance
Identity theft means some one else steals your personal information and uses it to fill credit card applications, mortgage and shops using your credit facilities. It is too late when you realize this as most of your hard earned money is lost to this thief.
How does identity thief work?
- An identity thief will check your trash and recycled papers for your personal information
- Get hold of your mail and learn account numbers, passwords, salary and other credit information
- Make request to change the address in your name
- Fill credit applications in your name and use consumer credit
- Steal your belongings to collect information
- Hack your personal and business computer
- Take loans in your name like car loan, auto loan, bank loan, etc
- Open new bank accounts in your name and write fraudulent checks
- Use your name, address, social security number and other details for illegal work
Who can be an identity thief?
An identity thief can be a stranger or any one you are acquainted with. It can be some one from your office, bank, department store, credit card agency, or any one who can have access to your personal information. A stranger may pose as a representative of government, Credit Card Company, internet provider and get hold of your information.
Signs of identity theft
You should be aware of signs of identity theft. You can easily detect the problem, if you know what to look for. This way you can protect your self from a major financial blow.
- You should scrutinize all bank and credit card statements minutely for any fraudulent charges or withdrawals.
- Make sure you receive all your mail in time
- If you realize that you did not receive any invoice or statement, check immediately
- If you receive a late mail, check with the company for the correct address
- You may receive calls from bill collectors for soliciting payment
- Request for a copy of your credit report
Safeguard against identity theft
- In case of house burglary or if you loose your wallet or purse, immediately contact your credit card company and bank to cancel your old accounts and passwords. Open new accounts and have new passwords.
- Always keep your social security at home in a very secure place where your guests do not have access to it
- Make sure you shred or burn any important documents like credit card solicitations, or checks.
- Avoid carrying credit cards, or any other important identification papers on you
- While going out of town, make sure some one you trust gets your mail
- You should be aware of the personal information you provide your doctor, office or any other place
You should be very careful when you deal with your finance, especially your credit. These credit finance tips should help you to take care of your credit.
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