Information Center – News and Articles about Credit Cards
Ezpreapproval.com presents the Information Center — a new and improved credit card news service. We will inform you with up-to-date articles on credit cards for good credit, bad or no-credit history. Get information on best credit card deals for student credit cards, cash back credit cards and business credit cards. Learn about the top deals on credit cards with the lowest APR deals and other hot issues.
Credit Card Fraud Protection: New "ID Patrol" Service
Rapidly growing credit card crime rate causes more and more concern of credit consumers and credit providers as well. Credit card fraud is a number one card holders complaint to Federal Trade Commission. According to the statistics, over 85% of credit card owners that fell victims to credit scam discover the fraud only after they get turned down by credit issuers, having applied for a new credit card or loan.
Credit bureaus cannot stay indifferent to the problem of credit fraud and identity theft, in particular. Equifax, one of the three US major credit bureaus has introduced a new ID theft protection service. "ID Patrol" is a multifunctional tool that allows protecting customers from identity theft.
So, how can this new service protect your credit card, credit report and identity?
First of all, "ID Patrol" enables you to lock and unlock your credit file (the one by Equifax) any time you want and need it. When the file is locked, you can feel safe about unauthorized access and inquiries. This just will not happen. With this service you can also control the access to your file. You just choose those who are allowed to access your credit report and who are not.
Whenever you make up your mind to apply for a new credit card or any type of loan, you just unlock your file for creditors and other financial institutions can check it and make their credit decision.
When you become a victim of identity theft or credit card fraud, your personal information details get to the underground websites to be sold. "ID Patrol" scans suspicious sites for your personal data, such as your credit card numbers and social security number. This is a unique feature of this ID protection service. Even if credit card crooks stole your identity, you will be informed about the crime as soon as possible. And Equifax will take necessary measures to avoid serous damages to your credit score and credit history right away.
You perfectly know the importance of keeping track of every little change in your credit file. This helps to detect possible errors and, of course, credit crime. "ID Patrol" monitors not only your Equifax files, it also screens you credit reports at other credit reporting agencies. If the tool finds some shady records in your files, you will be informed within 24 hours.
If you have any questions concerning "ID Patrol" service or the problem of identity theft in general, you can resort to the customer support. Experts in ID theft associated issues are ready to help you 24/7.
"ID Patrol" service is not free. However, its cost is actually low. Every credit consumer, regardless of their income level can afford getting this kind of ID theft protection.
Building a good strong credit is a time and effort-taking matter. So, why not protect the product of your hard work and time spent? Once you decide to protect your credit files with "ID Patrol", you will sleep a peaceful sleep while "ID Patrol" is on patrol protecting your successful financial future. With "ID Patrol" credit card security issue will no longer be a headache for you.
How much does it actually cost?
Most credit tips say that the sooner you pay off your credit card balance - the less money you will lose on interest. On-time payments will favorably bound back on your credit score and payment history. This kind of advice is what we all are used to hear and read on the Web, in financial magazines, in tips columns. But does this financial behavior model really have a positive effect on your FICO score and credit report?
How can it be questioned, you ask? A perfectly disciplined plastic owner that pays off his or her balance before a lender could say Jack Robinson. Is not it any creditor's dream? No, it is not always so. Let's find out why a lender would want a different behavior model from a borrower and when this kind of paying down debts can weigh heavily against a cardholder.
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There are a number of embarrassing situations that are just a nightmare for cardholder. Feel no wallet in your pocket just before the cash register? See some unauthorized charges in your credit report? Loose you wallet with all your plastics in it? Very soon we are going to have no fear of these things, thanks to amazing technical progress.
Indivos Corp. which majors in computer hardware and software development has been working on an electronic system for making payments over a number of years. The thing about this system is that it enables transactions to be made by scanning customers' fingertips. A number of retailers have already expressed interest in testing the new system.
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Active credit card use is a sign of a society with well-developed market relationships. More and more people get involved in buying goods and services with plastics. Using virtual funds to make real purchases is very convenient. But this extended buying power has led Americans to a dangerous trend. Over 40% of American households, according to the USA Federal Reserve statistics, spend more money than they make.
In the average, every American of these 40% spends $1.2 per every $1 he or she earns. Plastics have changed people's spending habits. These plastic devices allow and encourage people to spend more and more money. Around 18% of all purchases made by Americans involve credit card use. About 24% of the purchases are made with other types of plastics.
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If you are determined to eliminate your credit card debts and you have good credit, getting a balance transfer card is a good idea. You can shift your credit card balances with high interest rate to a card with much lower rate or 0% APR at all. But there is one thing that can reduce your profit from this kind of a deal. It is balance transfer fee.
Most balance transfer cards come with a fee for a transfer. Not long ago you could easily find a plastic for balance transfers with no fee. However, due to the credit card market crisis and economy slowdown, lenders have pulled these deals from the market. And now it is rather hard for a customer to find a balance transfer card that comes with no fee. But there are some ways to negotiate a better balance transfer deal.
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