Another day another security breach.
Credit Report Reminder from Jill Russo Foster: Get ready for holiday spending
It’s September – Get ready for the holidays! This month use TransUnion
Hello, it’s Jill again, reminding you to get your finances in order before you start spending for the holidays.
Order your credit report from www.AnnualCreditReport.com. This is the ONLY authorized source for the no cost annual credit report that’s yours by law. You have the right to know. Exercise your rights! Learn more.
When ordering online:
- Select your state, then click Request Report.
- Fill out your information, then click Continue.
- When it asks you to select a service, select TransUnion.
Not comfortable ordering online? There are three ways you can order your report:
- Order online at www.AnnualCreditReport.com. By ordering online you can have your report back in minutes!
- Mail your postal order by downloading the form at www.AnnualCreditReport.com
- Call in your order at 1-877-322-8228
It doesn’t matter how you get your report, the most important thing is that you do! Then…
- Review it for accuracy!
- Follow the instructions with the report to correct any errors.
- And, always remember to keep copies for your records.
Were you hoping to get your credit score instead? Try CreditKarma.com. CreditKarma does not supply a FICO score, but it does provide scores from TransUnion and VantageScore. And, there’s no charge for you. CreditKarma funds their service through website advertising.
Wishing you the best for the school year and the coming holiday season!
P.S. I’ll give you another reminder in January so you can get a great start on the New Year.
Credit Report Reminder from Jill Russo Foster: Enjoy Summer with fresh financial information
It’s May! Relax this summer knowing you’ve checked your credit! This month use Equifax
Hello, it’s Jill again, reminding you to get your finances in order so you can enjoy a nice summer vacation.
Order your credit report from www.AnnualCreditReport.com. This is the ONLY authorized source for the no cost annual credit report that’s yours by law. You have the right to know. Exercise your rights! Learn more.
When ordering online:
- Select your state, then click Request Report.
- Fill out your information, then click Continue.
- When it asks you to select a service, select Equifax.
Not comfortable ordering online? There are three ways you can order your report:
- Order online at www.AnnualCreditReport.com. By ordering online you can have your report back in minutes!
- Mail your postal order by downloading the form at www.AnnualCreditReport.com
- Call in your order at 1-877-322-8228
It doesn’t matter how you get your report, the most important thing is that you do! Then…
- Review it for accuracy!
- Follow the instructions with the report to correct any errors.
- And, always remember to keep copies for your records.
Were you hoping to get your credit score instead? Try CreditKarma.com. CreditKarma does not supply a FICO score, but it does provide scores from TransUnion and VantageScore. And, there’s no charge for you. CreditKarma funds their service through website advertising.
May you have a sunny and profitable summer!
P.S. I’ll give you another reminder in September so you can get up-to-date on your credit before the holidays.
Credit Report Reminder from Jill Russo Foster: Start 2013 with good financial information
It’s January 2013! Time to start the year off right!
This month use Experian
Hello, it’s Jill again, reminding you to get your finances in order for the New Year by checking your credit report.
Order your credit report from www.AnnualCreditReport.com. This is the ONLY authorized source for the no cost annual credit report that’s yours by law. You have the right to know. Exercise your rights! Learn more.
When ordering online:
- Select your state, then click Request Report.
- Fill out your information, then click Continue.
- When it asks you to select a service, select Experian.
Not comfortable ordering online? There are three ways you can order your report:
- Order online at www.AnnualCreditReport.com. By ordering online you can have your report back in minutes!
- Mail your postal order by downloading the form at www.AnnualCreditReport.com
- Call in your order at 1-877-322-8228
It doesn’t matter how you get your report, the most important thing is that you do! Then…
- Review it for accuracy!
- Follow the instructions with the report to correct any errors.
- And, always remember to keep copies for your records.
Were you hoping to get your credit score instead? Try CreditKarma.com. CreditKarma does not supply a FICO score, but it does provide scores from TransUnion and VantageScore. And, there’s no charge for you. CreditKarma funds their service through website advertising.
May you have a blessed and successful year!
P.S. I’ll give you another reminder in May and September to help you stay up-to-date on your credit throughout the year.
Don’t Pay a Service! You Can Easily Monitor Your Own Credit
Identity theft is one of the biggest fears plaguing consumers these days. It was interesting to catch a scene on a crime show recently where a waitress is caught hiding a portable credit card swiper under her apron, then using it to steal her customer’s credit card information. YES, this does happen in real life.
Identity theft isn’t the only thing that can hurt your credit. Banks make mistakes, family members make late-payments on jointly shared accounts, you might have a payment dispute with a fraudulent company. I could go on, but you get the idea. Life happens.
The only way to protect yourself is to consistently monitor your credit. Most people believe that you have to pay an outside company to have your credit monitored. I disagree! I do it myself.
Once you get in the habit of monitoring your credit, it gets easier and becomes an almost compulsive habit. You’ll feel that you have much more control over your life and finances.
How to Monitor Your Own Credit
1. Look over your credit report three times per year minimum. You can do this by visiting www.AnnualCreditReport.com and ordering one report every four months. It’s completely free. If you subscribe to Quick Tips, you’ll get a reminder email with instructions in January, May and September.
2. Check your credit score at www.CreditKarma.com every month to see if there are any changes. This is also free. Monitoring changes in your score can alert you to hidden issues.
3. Monitor your bank accounts (checking, savings, etc.) to see if there are any unusual transactions. Most banks have online access, so you can easily check any time you get online. My virtual bank accounts actually email me with every transaction, so that’s an added plus.
4. Monitor your credit card accounts. I get online and check each and every account to see what’s happening. I do this every week or so, just to be on the safe side. These days, people can even scan credit card information through your wallet or purse from a distance. It doesn’t hurt to be careful.
Yes, taking these steps can take up some time, but it’s well worth it. Even with my busy schedule, I am able to find the time to monitor my credit. I am comfortable checking my accounts and credit, and I don’t feel it’s necessary to pay for a monitoring service. You may not find that it’s worth your time, but remember, it’s absolutely free to give it a try.
What's not on your credit report?
Last week, I told you what was on your credit report This week, I’ll tell you what’s not there.
Your credit report doesn’t say much about you as a person It has your name, address (possibly your past address), and your social security number But, it doesn’t show your age, gender, race, nationality, or religion It also doesn’t list your income, although it might show your employer If you’ve recently changed jobs, that information might not be up to date.
Your credit report is a snapshot of your finances, not your life And, it’s not even a perfect picture of your payment history Credit reports can change daily as your financial life changes: purchases made on credit, new accounts opened, payments made (or not) There may also be errors that will need to be corrected whenever you find them.
Even though your report does not reveal everything about you, it is the most important document that you have to show the world how you handle your money What you do today will stay on your credit for years to come When you make a financial choice, think about how it will affect you in the future.
How to Read Your Credit Report
Last week, I told you how to identify a true credit score. Today, I will be telling you what is on your credit report.
Your credit report is a reflection of your financial life Which credit accounts you have, how much credit you have available to use, how you have used, how you make your payments, and any other information that is relevant.
If you have a credit card (notice, I didn’t say debit card) with a bank, this is what it might say:
(Your name) has a credit card with ABC Bank with the account number xxxxxxx-xx and owes $1,248 with available credit of $5,000 The minimum payment is $45 The account was opened 11/02 and the payments are C, C, C, C, -, C
What does that mean? The letter C means that the account was made “current” each month, which means your payment was made on time The dash means no payment was due that month This is a great entry for anyone’s credit report.
Here is another example of an entry on a credit report:
John Doe has a credit card with ABC Bank with the account number xxxxxxx-xx and owes $4,559 with available credit of $5,000 The minimum payment is $65 The account was opened 11/09 and the payments are 2, 3, 3, 3
What does that mean? It means that John Doe is not paying his account on time A 2 means he was 60 days past due and a 3 means he was 90 days past due (A 1 would be 30 days past due.) Do you see the pattern?
John Doe will have a harder time getting another loan or credit card with good terms Credit reports weren’t created to help you and I, they were created to help creditors decide whether to lend someone money Yes, you can look at your credit report, but almost anyone you do business with can run a credit check on you as well That includes landlords, employers, banks, loan companies and insurance companies.
A great credit report entry can help you, but a late payment account can hurt you A history of late payments will tell businesses that you don’t pay your obligations in a timely manner This is definitely something that you want to avoid.
Next week, learn what’s not on your credit report.
Are you getting the correct credit report?
How do you know if you are getting your correct credit score? This is a dilemma for many people.
Fair Isaac and Company, known as FICO, is what the lenders and creditor use when you apply for credit This is one of the factors that you are judged as creditworthy or not A while back, people tried to introduce a new credit scoring system That wasn’t successful in over taking FICO as far as lenders where concerned.
But when you as a consumer want to know your credit score, you may be getting something totally different Many companies, including the credit bureaus may be selling you a score calculated differently and on a different scale than FICO FICO uses a scale that tops out at 850 If you have a score of 760 or higher, you have an A+ FICO score With others use scales that go well into the 900’s, that 760 or above score isn’t A+ like you are thinking You would be considered a B You see how this is confusing.
To top it off, when you order your FREE credit report form www.AnnualCreditReport.com, you don’t get your credit score To get your FICO credit score, you will need to go to www.MyFICO.com and pay a fee to see your credit score Remember that each of the three credit bureaus, have a score and they are not necessarily the same number at each.
Are you confused about where to get your FREE credit report?
The ads tell you that you will get a free credit report, but then you learn you have to pay for a service to get the report. Those ads have confused so many people.
If you have been following this blog, you know to visit AnnualCreditReport.com. This website is the ONLY authorized source for a free annual credit report that’s yours by law.
As of April 1, the Federal Trade Commission has amended their law to combat this confusion. The other websites that offer free credit reports (with the purchase of another item and/or service) will have to have a statement that says you have the right to a free credit report from AnnualCreditReport.com, the ONLY authorized source under federal law and provide a link. Never again will you have to pay for your free credit report.
In addition, the AnnualCreditReport.com home page will no longer display ads from the three credit reporting agencies (Experian, Equifax and Trans Union). Some were lured away with these ads and were charged a credit monitoring fee by the credit reporting agencies. After you’ve ordered your free report, you’ll see the ads, but it won’t be as confusing.
Note that the radio and TV advertisements have until September 1 to comply with this change. Free means free! Remember that anything for free should not have you buying another service.