Category: Credit

Credit Card Charges – Part I

money on trees
Balancing your credit card statement

 

Not many people balance their credit card statements. (Not sure who balances their checkbook today, besides my mom – she says it is therapeutic?!??!)  I have always given my credit card statements a quick glance, looking for charges I didn’t make. But recently I met someone who religiously balances his charge statements, in a course of one year, he found approximately $500 in overcharges, not in his favor.  (Oh, of course there were some charges that were in his favor – he didn’t bother to correct these.)

So I started watching my credit card charges more carefully. Here are the 3 mistakes I caught in 3 months:

Continue reading Credit Card Charges – Part I

Credit and identity theft

data3If you are not actively monitoring and preventing your data identity theft, then it is recommend you pull your credit report every 3 months. You can find FREE credit reports from your credit card company and online, there are plenty of credit tools.

The information in a credit report includes: how often you make your payments on time, how much credit you have, how much credit you have available, how much credit you are using, and whether a debt or bill collector is collecting on money you owe. Credit reports also can contain rental repayment information if you are a property renter.

A credit report is easiest way to find out if someone else is using your credit – a sure sign of identity theft! It may take weeks or months for a credit collector to contact you regarding credit that was given to use, but spend by the thief.

FYI – everyone should know their credit score – it drives so many financial decisions; interest rates for credit cards, car loans and home mortgages. . Your credit rate scores drive your ability to get a loan, and there are some employment agencies that look at your credit score as a data point for your character assessment.