Never Before Has Finding a Great Deal on a Car Loan Been Easier

Borrowing wisely can aid you in accomplishing goals you would otherwise be unable to attain, like owning a home or getting an education or getting a car loan. But credit scores can also get you into trouble at any time you are not conscious of its potential dangers. Allow me to share an example drawn from real life, along with tips on how to make sure they don’t happen to you. Your credit is a precious thing you can not afford to let deteriorate.

Beware of Scam Artists
Consumer Bobby received a call from the man who found himself as a member from the anti-fraud department of his credit card issuer. “Did you recently are purchasing an item from XYZ for $450?” the person asked. When Bobby said no, the caller continued: “That’s what we thought. This company is currently under investigation for fraud. We’ll process a refund immediately, but I have to verify the three-digit code on the rear of the card.” Bobby read the three digits, and the caller confirmed it by reading back to him. A week later, Bobby received his statement inside the mail. It included a brand-new charge for $450.

Bobby was the victim of the scam designed to trick people into revealing the verification code on their credit report score card. Most merchants cannot procedure transactions unless you provide this three-digit total, which ensures you have the credit card in your possession. To shield yourself, never reveal your credit report score card data to someone who calls to request it, either way story they feed you. Traditional legitimate credit card lenders don’t do this with their customers, if you suspect foul play, hang up and call your credit score card issuer back to check the call. Same goes for your finance company account — never reveal your account details or PIN figure. If you think you have been scammed, call you card issuer or lender immediately to report it.

Get Help
If you think you are a victim of fraud or are already feeling over your head in debt? Speak with a credit counselor or financial planner who can walk you through some options for regaining control of the assets, including a debt consolidation loan. Make sure to contact your lender immediately if you suspect any wrong doing. They can assist in the process and help you get to the bottom of the problem. Remember, they have an interest in protecting your credit as well.