Thieves are increasingly stealing children’s Social Security numbers and using them to create phony identities under which they take out loans or credit cards. In 2017 the Federal Trade Commission received 14,000 complaints of identity theft targeting people age 19 and younger. The fraud can go unnoticed for years unless parents check their children’s credit … Read More
BEWARE OF CREDIT CARD TRICKS
Always read the fine print. Low-interest rates may not be as low as advertised when the ad says “as low as”. The consumer may be charged the higher rate. Cards labeled as gold or platinum are designed to make the consumer believe they have more value. That is not always true- don’t choose a card … Read More
NEW MEDICARE CARDS ALERT
The government has begun mailing to participants new Medicare cards with individual identifying numbers and without Social Security numbers. These cards are free. Beware of scammers posing as Medicare representatives who have been calling and emailing seniors to try to get them to pay a processing fee for the cards. Other scammers are saying beneficiaries … Read More
Credit Freezes
A credit freeze blocks credit bureaus from sharing your credit reports with lenders, and lenders won’t open new accounts when they cannot access these reports. Starting September 21, 2018 it will be free to freeze or unfreeze your credit reports under a new federal rule. Previously, each of the three major credit bureaus-Equifax, Experian and … Read More
Know The True Cost of Cash Advances
There is a transaction fee charged for each cash advance. This fee is usually 2% to 5% of the amount of the transaction. If you do not use designated machines, you may be charged ATM fees on top of that. Also, interest rates on cash advances will be higher than on regular purchases. It is … Read More
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