When you’re working to perfect your credit, beware of potential scams that can hurt you along the way.
With new technology that is always getting better and smarter you need to be careful of the offers that you take advantage of or they may take advantage of you.
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Do you need to pay for lower interest rates?
NO!
You do not have to pay for a lower interest rate on your cards. You can negotiate that yourself without a fee so if you get an offer for a lower rate and all you have to do is pay this upfront fee, be wary. Be especially careful if they “guarantee” the new rate. It’s probably a scam.
“Free” offers for movies, music and games downloads, “free” offers for porn, actually few things on the Internet or anywhere for that matter are actually “free”. There is a catch somewhere. Protect your information. Protect your computer.
Should anyone be asking for your information?
Your bank should never have to ask you for your information, they should already have it. So it is a big red flag if they call and need to know the three digit security code on your card or any other information. Don’t give out any information over the phone or online.
Links in emails should not be clicked on if they are for financial websites, such as PayPal, your bank, even your favorite store. It is too easy to create a “spoof”site that looks real, acts real but just steals your information. Always verify the web address and then take the time to type it in.
Is bad credit a problem?
“Bad Credit, No problem” can be a problem because bad credit is a problem, that is why credit repair is necessary so if you get an offer that requires no credit, no job, no income verification, it is too good to be true and if it sounds too good to be true, it probably is.
Continuing payment scams.
Be careful of “forced continuity.” This is when you try a product and then you are put on a continuity program where you are charged again every month with more product, of course. If you are aware of it and it was your intention that is fine, but don’t let it happen without your knowledge and consent.
Many products out there do this. For many, they hope you won’t notice a small charge on your credit card. You should always check your credit card bill.
Have you ever fallen for a credit card scam? What happened?
Image via Flickr by TaxCredits.net
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