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In a recent investigation into the regularly gripped about check authorization companies, the Federal Trade Commission (“FTC”) launched an investigation into the consumer practices of TeleCheck and found that its conduct was in violation of the Fair Credit Reporting Act (“FCRA”). In response to the investigation, TeleCheck agreed to settle the dispute by paying $3.5 million and to alter its…
In a recent post I discussed myths relating to your credit score and touched upon the much heated topic of whether or not employers should be able to review your credit score or even your report. Currently, existing or potential employers are allowed to access your credit file with your express written consent. However, the credit report an employer receives is…
The stress of owing a debt may weigh heavily on your conscious. You may think about how you are going to pay it off or how you are going to put it off, all of which are certainly realistic concerns. Added stress may be caused by a collector’s constant effort at communication, including endless phone calls and collection letters reminding you…
Your credit score is the triple digit number that represents your credit worthiness or in simple the terms the number that determines how likely it is that you will pay back the money you borrow. Lenders, such as banks and credit card companies use your credit score to determine whether or not to lend you money, how much money to…
Your credit report, a summary of your financial history, is an important document that can help determine whether or not you receive a credit card, mortgage or automobile loan, and what interest rate you will pay for your loans. Your credit report can even determine whether or not you can rent an apartment or whether you get hired for a…
With the holidays over and the New Year upon us, now is as good a time as any to make a commitment to improve your credit. Post holiday shopping, most consumers credit cards bills see the effects of this giving season and you need to ensure your card(s) were not compromised during these last few months. When the bills start…
In the wake of the ongoing crisis facing Target stores, now more than ever consumers need to be aware of the basic facts of Identity Theft. Despite the fact identity theft is often discussed, misconceptions about this rapidly growing crime are everywhere. Protecting yourself can be as simple as understand the basic facts. While identity theft was initially a crime…
Owning a credit card can be an important aspect of your financial worthiness. It can put you on the map to building your credit history and open doors to obtaining credit opportunities. However, it takes a responsible consumer to use a credit card conscientiously. During the holiday season credit card offers may pop up in your mail box on a daily…
If you are one of millions of American consumers who shop at Target, you have heard about the unauthorized access that took place over the past couple of weeks at Target stores. Specifically what happened is that access was obtained to payment card data, used in the stores opening up Target customers to fraud and the potential to become victims…
For consumers with an invisible credit history, help may be on the way. Presently, before Congress is the Credit Access and Inclusion Act, a proposed amendment to modify the Fair Credit Reporting Act (“FCRA”) to include additional positive information to consumer reports, like utility bills and rental payments. If you are one of millions of American consumers who do not…