Learn some surprising facts about your credit score

As per various wedding surveys, roughly one-third of all the marriage proposals are made between Thanksgiving and New Year’s Day. But aren’t you a bit curious about those being rejected? Well, people with bad credit ratings are the ones to be left behind. As per a recent survey, half of the couples said the credit rating played an important role when choosing a spouse. Rather than physical attractiveness, ‘financial responsibility was a more important quality.

Consider these additional fun facts about credit scores if marriages being based on financial health is not enough of an incentive. You can save a lot of money as you go through this article. Think about it as a gift to your wallet.

    It’s all about credit scores, and there are a lot of them.
    You are mistaken if you ever thought you just had a single credit score. There are more than 1,000 credit scores that exist. Your financial history is evaluated by various companies that use proprietary analytical methods. The outcome allows a prospective lender to assess the risk based on your credit rating. There are different score ranges and categories involved.Your credit score should not dishearten you. There is no guarantee that the lender will use the similar credit score type used to assess you. And even if it were, the chances are that most owners use their in-house modified credit scoring. Thus, it would help if you were more concerned with your credit score. It should primarily be used to track your credit-building progress or estimate your credit worthiness.
    Credit resorts are more important than credit scores.
    All credit scores are built on the foundation of credit reports from renowned firms such as Equifax, Experian, and TransUnion. So your credit scores are only as good as the information on your credit reports, which might be unsettling when you realize that the Federal Trade Commission estimates that one out of every five people has a mistake on one of their credit reports. Thus you need to take full advantage of your right to one free copy of each report annually.
    Credit rating plays a vital role in employment, apartment rentals, and insurance premiums.
    Although employers, landowners, and insurance companies cannot access your three-digit credit score, you are requested to submit it to them. Thus based on your historical credit data, they can assess your financial health and decide. For example, as per one report, it is revealed that a driver with excellent credit pays 50% less for car insurance than the one who does not have any credit rating.
    Credit scores cannot reveal quickly if you are a victim of ID theft.
    The availability of free credit scores is thought to alert consumers whose identity has been compromised. Even President Barack Obama provided praise.

    During a speech held in January at the FTC, he said that he was quite pleased as most banks, credit card issuers, and lenders provide another means to combat the ongoing threat of identity theft and the availability of free credit scores to the Americans.

    Nonetheless, there are many loopholes with this idea. First, the credit score can change due to several reasons that are difficult for a consumer to decipher. Second, the credit score is based on historical financial activities that take time to generate, while the fraud moves very fast. Thus it would take weeks or even months for the consumer to realize when the report is sent to their mail, that they are a victim of fraudulent activity or identity theft.
5 May 2022 Uncategorised 1 comment

Five tips to protect yourself from financial fraud

Hackers are changing their ways of stealing data. We see headlines of financial fraud every day, either a hacker infiltrating businesses’ computer networks or identity theft. Hackers are getting through your chip-enabled credit cards and your awareness of phishing scams.

Fraudsters are evolving in their ways of seeping through the cracks in the foundation. The best way to battle these frauds is to take some precautionary steps. And most of these proactive steps are simple, but the massive influx of information can overwhelm the best of us.
Here are five tips to protect yourself:

Switch to a chip-enabled credit card

These cards have an added layer of protection; they generate a unique code for one purchase and prevent anyone else from using that information. But not all retailers accept these cards yet. In addition, the technology took time to roll out due to the huge number of banks, cards, and checkout counters.

Do not share sensitive information over public WiFi or email.

Public WiFi is not secure, do not send credit or debit card numbers or other such private information when using a public WiFi. Ensure that the site has an “HTTPS,” they are high-security links. Moreover, a financial institution never asks for passwords, ATM PINs, or other sensitive data over email.

Get your documents delivered electronically and check your online accounts regularly.

Paper documents have the risk of getting intercepted. When you sign up for online access to statements, you eliminate that risk, allowing users to monitor their accounts frequently to catch hold of any suspicious activity. Financial institutions also provide mobile apps which are considerably safer.
Check credit card and bank accounts every week. Sign up for fraud alerts from financial institutions as well to alert you when purchases cross a certain amount. It will pick up unusual activity on your account as well.
When talking of sensitive sites like these, make your passwords more complex and vary them.

Be wary of skimming.

Skimming is when thieves put a device over the payment slot to extract credit or debit card information. So, when you pay by plastic in a remote area, make sure nothing is out of place or fishy. You can also touch the ATM machine and jiggle it; if it moves too much, something might be attached to it.

Watch your mail

Policy for insurance or other financial documents can come in the mail as well. If you have chosen to receive paper documents, see to it that they arrive.

After all the business is conducted, you get a policy in the insurance arena. If you did not receive a policy, it is scary. If you are doubtful about anything, call the company and verify that your account is active. Also, check for your annual statements.
If you receive a mail about a change of address, call the company. There is a very real possibility that a thief will open up policies or financial products in your name with the intention of money laundering.

3 February 2022 Bussiness, Future 3 comments

How To Avoid Binary Options Scams?

You’ll find here some deceitful systems in the industry, how to report the criminals, and how does the scam work. Read the article carefully before investing in Binary Options, who knows what kind of propaganda you might discover out there.

By enabling investors to trade with restricted assets, and providing a simple & honest way to make money; the binary trading options have gained rapid fame amongst various traders. However, like any other trading method, there are chances that investors can get caught up in binary options scam systems. It is crucial to make sure that the binary trade broker that you are trusting with your hard money is reliable. Beginner investors are the most natural victims of the binary scam, as they are made fool by the fraud binary options scam artists. Make sure that your investment broker is certified and has a good track record as well. In addition to this, you also must know all the necessary information about how to spot a scam artist before starting working with them.

How does Binary Options Trading Scam work?

The flashy catchy marketing contents are what get many investors hooked. The promotional content broadcasted by the scam artist is about the simplicity of the process and how investors can earn more and more within days, even within hours!

Here is how the scam runs in a nutshell:

• A group of scammers design and develop a website that looks like a legitimate website build for a reputable binary options trading broker.

• To catch your attention, they use various marketing methods or they can cold call you out of the blue to offer a deal you can’t refuse!

• They know you will ask for the evidence that the offer is valid. So, they will use a fake makeshift trading signal software and slap a 100% trading accuracy claim on to it.

• If you trust the data (many does) offered by the scammers and join the scam, you will lose the entire initial investment. This works on various levels. Sometimes the scammer will manipulate the trading data and show you that your bidding was successful and you won. Though they didn’t use your money to bid at all! However, when you would want to credit the amount in your bank account, you will find it is quite impossible to do so. To get the amount you have to pay some charges to the broker and this is where you lose even more.

• Many times, the scammer will ask their targeted customer for all kinds of information to transfer the fund. It is nothing than another part of the scam. If you provide them the details they need, they will sell your data to the highest bidder, which can be used to steal your identity.

How to Prevent Becoming a Scam Victim

There are a couple of basic areas that investors can consider when evaluating a broker to make sure they stay away from Binary Options Trading Scams. Here are the details that can save you from scammers:

• Research, research & research. Find out everything about your selected broker. This is your greatest weapon against binary options trading scams.

• Check for if the broker has a valid license granted by the government regulator such as CFTC, FCA, FSB or ASIC.

• How desperate your broker is? The broker is frequently contacting you for money? Well, stay away from those calls and brokers.

• If the broker has a license, does it protect investors/ traders from your nation?

• How is the record of the broker? Search for everything and if you find they have used some unethical practices before, then stay away.

• The broker is asking for money in exchange for trading signals software or trading robot before providing a demo? Do not trust them.

• If your country has a binary options forum make sure you join it, discuss your selected broker and their software before starting investment.

• The broker’s record is great and after seeing that you are convinced that they will take care of your money? Think again! Research about past and present thoroughly. Because a broker’s past performance doesn’t guarantee the same future results.

Conclusion

If you follow the steps outlined in the article, you will be safe and able to avoid all scam operations in binary options. In the end, we would say that successful binary options trading is only possible if you do your research. Take your time, don’t rush. Sure, money doesn’t grow on trees, but it does with time!

If you have been scammed

You can report the dishonest organization or scam to us by contacting our helplines or using our reporting form. If you have already invested in a scam, scammers are likely to target you again or sell your details to other shady people. The follow-up scam can be entirely different or linked to the previous fraud, as an offer to get your invested cash back or to buy back the investment after you pay some negligible fee! If you have any concerns regarding a possible scam, contact us immediately.

25 December 2021 General, IT Comments Off on How To Avoid Binary Options Scams?

Why Do People Fall To Financial Scams?

In 2016, a new way to trade cryptocurrency was introduced – BitConnect. By using BitConnect, users could “lend” their current Bitcoin holdings to BitConnect in exchange for new coins (Bitconnect Coin or BCC) that would earn interest during the life of the loan. Sounds good in theory, right? Of course, theory is all that existed – BitConnect was actually a ponzi scheme with no hard assets and no license to issue securities. Known as a high-yield investment program (HYIP), BitConnect paid initial investors huge profits from the cash brought in by new clients. The scam eventually ran out of money and BitConnect Coin crashed more than 90% in a single day. In an instant, $2.5 billion vanished and investors were left with worthless tokens.

Financial scams are all around us and even educated money managers are susceptible to them. And with the rise of unregulated markets like cryptocurrency and forex, scammers have more playgrounds than ever to lurk around in. Money makes us emotional, which is why financial scammers will never go away. But that doesn’t mean you can’t protect yourself.
Today’s Most Common Financial Scams

Fraud is inevitable. Federal laws have made it more difficult to pull off financial scams, but you can’t outlaw dishonesty. Scammers persist, especially in unregulated markets like Binary options, forex, and cryptocurrencies. Here’s a few common scams to watch out for today.

Market Gurus – Amateur traders are everywhere on social media and many start a “service” to provide recommendations on stocks, currency pairs, etc. These gurus charge either an upfront or monthly fee for their “service” and proceed to recommend loser after loser (if they don’t disappear entirely). Like professional stock pickers, some gurus may beat the market in the short-term, but most only profit by collecting fees from unsuspecting “clients”.

Fake Forex / Binary Options Brokers – Currency markets trade all over the globe 24 hours a day. They’re also notoriously unregulated and rife with scammers looking for victims. Many of these scammers pose as reputable (but offshore) brokers offering great deals. After happily accepting customer deposits, these brokers refuse to honor withdrawals and do everything possible to keep the funds tied up. Some even purposely orchestrate losing trades for clients!

Cryptocurrency Scams – Fraud with crypto comes in all shapes and sizes. Fake wallets, fake brokers, and even fake coins have taken real money from investors. Cryptocurrency losses have almost no way of being recovered either. Use only a trusted broker to buy crypto.

Online Dating Scams – A modern take on the Nigerian Prince scam, these crooks message unsuspecting marks behind the profile of a potential partner. Always using attractive model-quality photos, these scammers convince their victims that they’re interested in meeting up, but lost their passport / bank card / cellphone and just need a little bit of cash to get it back. Once the eager victim sends the cash in hopes of meeting the attractive stranger, they disappear.

25 January 2021 General, IT 3 comments
en English
sq Albanianam Amharicar Arabichy Armenianaz Azerbaijanieu Basquebe Belarusianbn Bengalibs Bosnianbg Bulgarianca Catalanceb Cebuanony Chichewazh-CN Chinese (Simplified)zh-TW Chinese (Traditional)co Corsicanhr Croatiancs Czechda Danishnl Dutchen Englisheo Esperantoet Estoniantl Filipinofi Finnishfr Frenchfy Frisiangl Galicianka Georgiande Germanel Greekgu Gujaratiht Haitian Creolehaw Hawaiianiw Hebrewhi Hindihmn Hmonghu Hungarianis Icelandicid Indonesianga Irishit Italianja Japanesejw Javanesekn Kannadakk Kazakhkm Khmerko Koreanku Kurdish (Kurmanji)ky Kyrgyzlo Laola Latinlv Latvianlt Lithuanianlb Luxembourgishmk Macedonianmg Malagasyms Malayml Malayalammt Maltesemi Maorimr Marathimn Mongolianmy Myanmar (Burmese)ne Nepalino Norwegianps Pashtofa Persianpl Polishpt Portuguesepa Punjabiro Romanianru Russiansm Samoangd Scottish Gaelicsr Serbianst Sesothosn Shonasd Sindhisi Sinhalask Slovaksl Slovenianso Somalies Spanishsu Sudanesesw Swahilisv Swedishtg Tajikta Tamilte Teluguth Thaitr Turkishuk Ukrainianur Urduuz Uzbekvi Vietnamesecy Welshxh Xhosayi Yiddishzu Zulu
error: Content is protected !!