credit bureaus – How To Occupy http://howtooccupy.org/ Sun, 20 Mar 2022 16:00:00 +0000 en-US hourly 1 https://wordpress.org/?v=5.9.3 https://howtooccupy.org/wp-content/uploads/2021/07/icon.png credit bureaus – How To Occupy http://howtooccupy.org/ 32 32 After making history by partnering with a major credit bureau, fintech AI app CreditRich is now worth $1.5 billion https://howtooccupy.org/after-making-history-by-partnering-with-a-major-credit-bureau-fintech-ai-app-creditrich-is-now-worth-1-5-billion/ Sun, 20 Mar 2022 16:00:00 +0000 https://howtooccupy.org/after-making-history-by-partnering-with-a-major-credit-bureau-fintech-ai-app-creditrich-is-now-worth-1-5-billion/ Angel Rich and Courtney Keen met while studying at Hampton University. Since then, the two have remained business partners. They are the founders of CreditRich, an artificial intelligence fintech application. “CreditRich helps boost your credit score by using your spare change to pay your bills smartly,” he says on his website. It uses a proprietary […]]]>

Angel Rich and Courtney Keen met while studying at Hampton University. Since then, the two have remained business partners. They are the founders of CreditRich, an artificial intelligence fintech application.

“CreditRich helps boost your credit score by using your spare change to pay your bills smartly,” he says on his website.

It uses a proprietary algorithm to “help people improve their long-term financial situation by leveraging their credit and learning ‘credit intelligence’ to help users predict the impact of their credit behavior. “, said the founders. Forbes.

Rich launched the app in April 2021 in partnership with credit reporting agency Experian, making her the first black American woman to secure an institutional partnership with one of the three major credit bureaus, according to Forbes.

Rich told Forbes that she graduated from college with thousands of dollars in debt and understands people’s pain. She added that she was motivated by a desire to help young people develop their financial literacy. “We believe that anyone with a penny in their pocket should also have the necessary financial knowledge,” she noted.

CreditRich has achieved unicorn status following the company’s new partnership with Qolo, the omnichannel payment platform for Fintech. This means that CreditRich’s valuation has reached $1.5 billion.

The partnership should double the number of qualified customers for financial products as well as their purchasing power. According to black news. Users, after funding their CreditRich account, can set up automatic payments for online billing, improving their payment history and creditworthiness, Black News added.

“With the uncertainty facing the world, consumers are watching their credit now perhaps more than ever, and CreditRich is committed to providing innovative and accessible products that help them both build and protect that credit. “, said Rich, according to Black news.

“That’s why we’re thrilled to partner with the incredible team at Qolo, who simplify the payment model, streamline everything, and enable the continued acceleration of our business.” We have made incredible progress over the past year and CreditRich estimates that the sum total of this work brings our value to over $1.5 billion today.

Rich believes the latest partnership with Qolo will help reduce income inequality. The CreditRich application is available in beta version on the Android operating system.

“A high credit score gives you access to more affordable credit so you can pay for big-ticket items like college, a new car, or a house without the high interest rates. CreditRich helps you boost your score by prioritizing your debt, paying it off smartly and predicting how different actions will affect your score,” the app says on its website.

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3- and 5-year personal loan rates continue to fall https://howtooccupy.org/3-and-5-year-personal-loan-rates-continue-to-fall/ Thu, 17 Mar 2022 19:48:41 +0000 https://howtooccupy.org/3-and-5-year-personal-loan-rates-continue-to-fall/ Our goal at Credible Operations, Inc., NMLS Number 1681276, hereafter referred to as “Credible”, is to give you the tools and confidence you need to improve your finances. Although we promote the products of our partner lenders who pay us for our services, all opinions are our own. The latest personal loan interest rate trends […]]]>

Our goal at Credible Operations, Inc., NMLS Number 1681276, hereafter referred to as “Credible”, is to give you the tools and confidence you need to improve your finances. Although we promote the products of our partner lenders who pay us for our services, all opinions are our own.

The latest personal loan interest rate trends from Credible Marketplace, updated weekly. (iStock)

Borrowers with a good credit application personal loans in the last seven days pre-qualified for lower rates for 3-year and 5-year fixed rates than in the previous seven days.

For borrowers with credit scores of 720 or higher who used the Credible Marketplace to select a lender between March 10 and March 16:

  • Rates on 3-year fixed-rate loans averaged 10.13%, down from 10.47% the previous seven days and 10.83% a year ago.
  • Rates on 5-year fixed-rate loans averaged 12.23%, down from 12.95% the previous seven days and 13.16% a year ago.

Personal loans have become a popular means of consolidate and pay off credit card debt and other loans. They can also be used to cover unexpected expenses like medical billstake care of a major purchase or finance home improvement projects.

3- and 5-year fixed personal loan rates have fallen over the past seven days. While the rates for 3-year terms only fell by a slight 0.34%, the rates for 5-year terms saw a more significant drop of 0.72%. Borrowers can enjoy interest savings with a 3 or 5 year personal loan now.

Whether a personal loan is right for you often depends on several factors, including the rate you may qualify for. Comparing several lenders and their rates could help you get the best possible personal loan for your needs.

It’s always a good idea to comparison store on sites like Credible to understand how much you qualify for and choose the best option for you.

Here are the latest personal loan interest rate trends from the Credible Marketplace, updated monthly.

Personal Loan Weekly Rate Trends

The table above shows the average prequalified rates for borrowers with credit scores of 720 or higher who used the Credible Marketplace to select a lender.

For the month of February 2022:

  • 3-year personal loan rates averaged 10.52%, down from 11.09% in January.
  • 5-year personal loan rates averaged 12.99%, down from 13.40% in January.

Personal loan rates vary widely depending on credit rating and length of loan. If you’re curious about what kind of personal loan rates you might qualify for, you can use an online tool like Credible to compare the options of different private lenders. Checking your rates will not affect your credit score.

All Credible Marketplace lenders offer fixed rate loans at competitive rates. Since lenders use different methods to assess borrowers, it’s a good idea to ask for personal loan rates from multiple lenders so you can compare your options.

Current personal loan rates by credit score

In February, the average prequalified rate retained by borrowers was:

  • 8.32% for borrowers with credit scores of 780 or higher choosing a 3-year loan
  • 29.42% for borrowers with credit scores below 600 choosing a 5-year loan

Depending on factors such as your credit score, the type of personal loan you are looking for, and the repayment term of the loan, the interest rate may differ.

As the chart above shows, a good credit rating can mean a lower interest rate, and rates tend to be higher on loans with fixed interest rates and longer repayment terms.

How to get a lower interest rate

Many factors influence the interest rate a lender can offer you for a personal loan. But there are steps you can take to increase your chances of getting a lower interest rate. Here are some tactics to try.

Increase credit score

Generally, people with higher credit scores qualify for lower interest rates. Steps that can help you improve your credit score over time include:

  • Pay your bills on time. Payment history is the most important factor in your credit score. Pay all your bills on time for the amount owed.
  • Check your credit report. Check your credit file to make sure there are no errors. If you find any errors, dispute them with the credit bureau.
  • Reduce your credit utilization rate. Paying off credit card debt can improve this important credit score factor.
  • Avoid opening new credit accounts. Apply for and open only the credit accounts you really need. Too many serious inquiries on your credit report in a short time could lower your credit score.

Choose a shorter loan term

Personal loan repayment terms can vary from one to several years. Typically, shorter terms come with lower interest rates because the lender’s money is at risk for a shorter period.

If your financial situation allows it, applying for a shorter term could help you get a lower interest rate. Keep in mind that the shorter term doesn’t just benefit the lender: by choosing a shorter repayment term, you’ll pay less interest over the life of the loan.

Get a co-signer

You may be familiar with the concept of a co-signer if you have student loans. If your credit isn’t good enough to qualify for the best personal loan interest rates, find a co-signer with good credit could help you get a lower interest rate.

Remember that if you are unable to repay the loan, your co-signer will have to repay it. And co-signing a loan could also affect their credit score.

Compare rates from different lenders

Before applying for a personal loan, it’s a good idea to shop around and compare offers from several different lenders to get the lowest rates. Online lenders generally offer the most competitive rates and can be quicker to disburse your loan than a physical establishment.

But don’t worry, comparing rates and terms doesn’t have to be a tedious process.

Credible is easy. Simply enter the amount you wish to borrow and you can compare multiple lenders to choose the one that suits you best.

About Credible

Credible is a multi-lender marketplace that allows consumers to discover the financial products best suited to their particular situation. Credible’s integrations with major lenders and credit bureaus allow consumers to quickly compare accurate and personalized loan options without putting their personal information at risk or affecting their credit score. The Credible Marketplace delivers an unparalleled customer experience, as evidenced by over 4,500 positive Trustpilot reviews and a TrustScore of 4.7/5.

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Washingtonians impacted by 2021 T-Mobile data breach – Dailyfly.com Lewis-Clark Valley Community https://howtooccupy.org/washingtonians-impacted-by-2021-t-mobile-data-breach-dailyfly-com-lewis-clark-valley-community/ Sun, 06 Mar 2022 22:05:49 +0000 https://howtooccupy.org/washingtonians-impacted-by-2021-t-mobile-data-breach-dailyfly-com-lewis-clark-valley-community/ Washington State Attorney General’s Office OLYMPIA — Attorney General Bob Ferguson urges all Washingtonians who believe they were affected by the data breach announced by T-Mobile in August 2021 to take appropriate steps to protect their personal information […]]]>












Washington State Attorney General’s Office




OLYMPIA — Attorney General Bob Ferguson urges all Washingtonians who believe they were affected by the data breach announced by T-Mobile in August 2021 to take appropriate steps to protect their personal information from identity theft.

The data breach affected approximately 2 million Washingtonians.

“Data breaches continue to be a growing threat to Washingtonians,” Ferguson said. “We want to make sure Washingtonians have the tools they need to protect themselves in the wake of a data breach.”

On August 17, 2021, T-Mobile reported a massive data breach compromising the sensitive personal information of millions of current, former and potential T-Mobile customers. The breach affected more than 50 million people nationwide. Millions of people have had their names, dates of birth, social security numbers and driver’s license information compromised.

Recently, a large subset of the information compromised in the breach was for sale on the “dark web” – a hidden part of the internet where cybercriminals buy, sell and track personal information. Many people have since received alerts through various identity theft protection services advising them that their information has been found online in connection with the breach, confirming that those affected are at increased risk of identity theft.

Ferguson urges anyone who believes they were part of the August 2021 T-Mobile data breach to take the following steps to protect themselves:

  • Watch your credit. Credit monitoring services track your credit report and alert you whenever a change is made, such as a new account or a large purchase. Most services will notify you within 24 hours of any changes to your credit report.
  • Consider placing a free credit freeze on your credit report. Identity thieves will not be able to open a new credit account in your name while the freeze is in place. You can place a credit freeze by contacting each of the three major credit bureaus:
  • Place a fraud alert on your credit report. A fraud alert tells lenders and creditors to take extra steps to verify your identity before issuing credit. You can place a fraud alert by contacting any of the three major credit bureaus.
  • Additional Resources. If you think you’ve been the victim of identity theft, go to voldidentite.gov for help on how to report it and recover from it. Washingtonians can also visit https://www.atg.wa.gov/guardit.aspx for more information.









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ScoreNavigator Announces New Product “Build Credit” with Addition of eCredable Lift® https://howtooccupy.org/scorenavigator-announces-new-product-build-credit-with-addition-of-ecredable-lift/ Fri, 25 Feb 2022 21:14:00 +0000 https://howtooccupy.org/scorenavigator-announces-new-product-build-credit-with-addition-of-ecredable-lift/ The product will allow consumers to report an unlimited number of utility accounts to TransUnion. GRAY, GEORGIA, USA, February 25, 2022 /EINPresswire.com/ — ScoreNavigator is pleased to announce that it has entered into an exciting partnership with eCredable Elevator® – a move that adds a new “construction credit” product to its already popular platform. ScoreNavigator.com […]]]>

The product will allow consumers to report an unlimited number of utility accounts to TransUnion.

GRAY, GEORGIA, USA, February 25, 2022 /EINPresswire.com/ — ScoreNavigator is pleased to announce that it has entered into an exciting partnership with eCredable Elevator® – a move that adds a new “construction credit” product to its already popular platform.

ScoreNavigator.com is an online leader credit report provider with the aim of improving the quality of life of its customers by maximizing their solvency and solvency. The company’s mission is to ensure that credit reports accurately reflect financial responsibility and to educate the consumer about the impact of finance and credit on a wide range of decision makers today, be it lenders, employers, insurers or other sectors. ScoreNavigator seeks to provide financial freedom to its customers by providing the tools to understand and manage their finances and credit.

In the latest company news, ScoreNavigator.com is pleased to announce a new “Building Credit” product adding eCredable Lift® to its platform. Currently, more than 50 million adults have invisible or thin credit records that can impact the ability to achieve their financial goals. To solve this problem, eCredable Lift® allows consumers to report an unlimited number of utility accounts to TransUnion, such as electricity, water, gas, some mobile phone trash, Internet, cable TV, satellite TV, and telephone fixed. According to the company, admitting this information is very valuable to consumers and, because eCredable Lift® allows up to 24 months of payment history, consumer scores can be established or increased in just days.

“Being directly involved in the credit industry for over 40 years and finally finding a company like eCredable Lift® has been a blessing,” said Rusty Bresse, CEO of ScoreNavigator, “Now we can offer our members a quick and easy way to redeem their good payment history, which will also save them money and provide a financing at lower interest rates.

“Optimizing your credit score is never more important than when you’re applying for a large loan, like a car loan or a home loan,” said Steve Ely, CEO of eCredable. “Finding all available opportunities to improve your credit score can save you thousands of dollars in interest. ScoreNavigator® is the only product we’ve seen that can help every consumer understand how to navigate this complex process.

ScoreNavigator.com guarantees consumers comprehensive and useful benefits from its platform, including:

• Easy 24/7 access to credit reports and scores
• Point deduction technology
• Assistance and recovery in the event of identity theft
• Comprehensive advice on credit, laws, education and testing
• Alerts and notifications
• Target score, manual and money simulators
• And much more

For more information on ScoreNavigator, please visit www.ScoreNavigator.com. To learn more about eCredable, visit www.eCredable.com.

About ScoreNavigator

As one of the most sought after online credit report providers, ScoreNavigator’s goal is to improve the quality of life of its customers by not only improving, but also maximizing their creditworthiness and creditworthiness. Ultimately, this goal helps the public build trust, while protecting its members from the complexities of financial well-being and credit.

The Georgia-headquartered company was founded in 2007 and boasts an A+ rating as a Better Business Bureau Accredited Company.

About eCredable

eCredable focuses on financial inclusion for the 50 million adults and 15 million small businesses that are “credit invisible” in the United States.® 8 and VantageScore® 3.0. For small businesses, we allow them to report these types of accounts and many other business accounts to business credit bureaus, resulting in a stronger business financial profile. The company was founded in 2009 and is headquartered in Alpharetta, Georgia.

Follow us on instagram: https://www.instagram.com/scorenavigator/

Rusty Bresse
ScoreNavigator
+1 866-933-1656
info@scorenavigator.com
Visit us on social media:
Other

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Start a Profitable Credit Repair Business with Free Webinar’s Simplified Software https://howtooccupy.org/start-a-profitable-credit-repair-business-with-free-webinars-simplified-software/ Tue, 22 Feb 2022 05:04:13 +0000 https://howtooccupy.org/start-a-profitable-credit-repair-business-with-free-webinars-simplified-software/ Credit Repair Cloud hosted an informative webinar on starting a profitable credit repair business using its user-friendly software and, for a limited time, business owners and emerging entrepreneurs can watch the webinar for free at https://creditrepaircloud.grsm.io/financialserenity1. Los Angeles, USA – February 22, 2022 — Business owners and emerging entrepreneurs interested in learning more about the […]]]>

Credit Repair Cloud hosted an informative webinar on starting a profitable credit repair business using its user-friendly software and, for a limited time, business owners and emerging entrepreneurs can watch the webinar for free at https://creditrepaircloud.grsm.io/financialserenity1.

Business owners and emerging entrepreneurs interested in learning more about the challenges of starting a profitable credit repair business using simplified credit repair software can watch an exclusive webinar on the secrets of building a profitable credit repair business on the Credit Repair Cloud website: https://creditrepaircloud.grsm.io/financialserenity1 .

In addition to answering questions about the secrets to building a profitable credit repair business, Credit Repair Cloud also touched on finding that first customer fast during the webinar. Some of the most surprising insights explored during the Credit Repair Cloud presentation included the secrets to building a profitable credit repair business that few business owners and emerging entrepreneurs are aware of.

WHAT EVERYONE SHOULD KNOW ABOUT CREDIT

As recently as a few years back, the term “credit score” was not very commonly used in American society. While there were those who understood the term and its purpose, the mass majority, although realizing that there was a system out there monitoring their credit, they had no term to attach to it.

Today, however, due to a number of factors such as the increase in identity theft and mass media marketing campaigns, very few Americans are unaware of the term “credit score”. “.

A credit score is a number between 300 and 850 and is based on a statistical analysis of an individual’s credit activity. It is used to represent the solvency of an individual, that is to say the probability that he pays his debts. A credit score is based on official credit report information, which usually comes from the three major credit bureaus (TransUnion, Experian, Equifax).

Credit institutions, such as banks, finance companies, mortgage lenders, and credit card companies, use an individual’s credit score to assess the potential risk posed by lending money to that individual. . Lenders use credit scores to determine who qualifies for a loan, at what interest rate the loan is granted, and what credit limits are determined. Although there are many others, such as the VantageScore, the most well-known scoring system in the United States is the FICO Score (Fair Isaac Corporation), particularly in the mortgage industry.

Under the Fair and Accurate Credit Transactions Act (FACT), every legal resident of the United States is entitled to a free copy of their credit report from each credit reporting agency once every twelve months. To guard against inaccurate information or fraud more often than once a year, one can request a report from various credit reporting agencies available online. This information is available on a number of websites that offer a free credit report, usually associated with using their services for 30 days before a monthly fee is involved. Fees are nominal compared to the need to protect personal credit in today’s high-tech society where identity theft is increasingly prevalent.

UNDERSTANDING CREDIT REPAIR

Usually, the credit score ranges from 300 to 750, but a good credit score is above 700. Many people have their credit score between 600 and 700, which is considered an average credit score. Credit scores below 600 should be repaired immediately. Better credit scores pave the way for an improved lifestyle.

Credit repair companies charge reasonable fees while rendering valuable services, as discussed in the free Credit Repair Cloud webinar. Although potentially life-changing, credit repair requires a great deal of patience and experience, with the best results often occurring 45-90 days after the initial audit.

Most people with bad credit think there is nothing they can do about it. They mistakenly believe that they have to live with their bad credit for a long time. The truth is, Americans don’t have to live with bad credit or pay astronomical fees to get their credit repaired.

Credit Repair Cloud’s simplified all-in-one software helps entrepreneurs start a credit repair business to help rebuild those damaged credit profiles. A good credit history can make life easier and more enjoyable in every way imaginable. Take action now to have that positive impact in the community.

As seen on ABC, CBS, NBC, and Inc.500, Credit Repair Cloud provides EVERYTHING you need to start or improve a life-changing credit repair business.

In addition to the secrets of starting and scaling a successful credit repair business, the full agenda for this informative webinar also includes:

Find That First Client Fast – How to find people who are more than willing to pay and land that first client within 24 hours, even with ZERO experience.

Dispute Process Template – How to use a step-by-step “Dispute Process Template” to get EASY credit repair results without being a credit expert.

For more information and to register for free access to the full video, interested business owners and emerging entrepreneurs can visit the website at https://creditrepaircloud.grsm.io/financialserenity1 .

Contact information:
Name: Support Staff
E-mail: Send an email
Organization: Credit Repair Cloud
Address: 12517 Venice Blvd., Los Angeles, CA 90066, USA
Phone: +1-800-944-1838
Website: https://www.creditrepaircloud.com/

Build ID: 89065180

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This credit score is optimal for most Americans, says this CFP https://howtooccupy.org/this-credit-score-is-optimal-for-most-americans-says-this-cfp/ Thu, 03 Feb 2022 04:12:01 +0000 https://howtooccupy.org/this-credit-score-is-optimal-for-most-americans-says-this-cfp/ Select’s editorial team works independently to review financial products and write articles that we think our readers will find useful. We may receive a commission when you click on links to our affiliate partners’ products. A credit score of 850 is a coveted achievement for many because it signifies a “perfect” borrower. But very few […]]]>

Select’s editorial team works independently to review financial products and write articles that we think our readers will find useful. We may receive a commission when you click on links to our affiliate partners’ products.

A credit score of 850 is a coveted achievement for many because it signifies a “perfect” borrower. But very few Americans are able to achieve a perfect credit score, and according to Faron Daugs, CFP, founder and CEO of Harrison Wallace Financial Group, it’s really not necessary.

In fact, Daugs told Select that a score of 850 is “almost impossible,” but reassures consumers that anyone can achieve a strong credit score to earn the same financial opportunities.

To select details what is the most optimal credit score to get the best financial products and interest rates available, how to get your credit score up to par, and how you can get started today.

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Here is the most “optimal” credit score

All Americans are rated on their FICO credit score, which ranges from 300 to 850. The higher your score, the more likely you are to obtain favorable financing options for a home, car or credit card.

But Daugs is a firm believer that an 850 credit score is an unnecessary benchmark for Americans. Instead, he says that 760 is the most optimal credit score.

Daugs told Select, “The optimal score that will give you the highest credit limits and lowest interest rates is actually 760. Once you reach a score of 760 (according to FICO ), you will receive the same rates and limits as someone with an 800, 825 or even the ultimate 850.”

That’s a little contrary to popular belief, as a credit score of 760 is considered “very good,” according to Equifax according to their credit score ranges on their website. The ranges are:

By having at least a “very good” credit rating, you demonstrate to financial institutions that you pay your bills on time, that you maintain a low rate of credit utilization and that you have a good credit history. And in doing so, a credit score of 760 is just as valuable as a score of 800 or any higher when it comes to applying for financing options.

In short, anything over 760 is just icing on the cake.

How to Get That Credit Score

Earning a credit score of 760 doesn’t happen overnight. It takes persistent effort and strong personal finance skills to establish your credit history without any blemish, but it can be done.

In fact, the average credit score in America in 2020 was 710, according to Experian. So, wherever you are on the path to building (or rebuilding) credit, there are several things you can do to move your credit score in the right direction:

  • Pay off or refinance credit card debt: One of the largest parts of your credit score is made up of all debts owed (30%). So, if you have a lot of credit card debt, it will significantly increase your credit score. You may want to consider a balance transfer credit card to avoid compound interest charges. Or if you have multiple credit cards with balances, consider applying for a personal loan to consolidate your debt.
  • Dispute credit report errors: Millions of Americans have errors on their credit report that can negatively affect their overall score. Be sure to check your credit report and consider using a credit monitoring service to track any new credit applications or potential fraud.
  • Apply for higher credit limits: Each of your credit cards has a credit limit you can spend, and the amount of credit you use against that limit affects your overall credit score. This is called your credit utilization rate, and if you keep the amount of credit you use low relative to your credit limit, the more your credit score can rise. The best part is that you can request a higher line of credit from your card issuer and it won’t create a new request on your credit report.

For more tips, read our guide on how to build and get good credit. And consider a credit monitoring service for more information on your score:

Capital One CreditWise®

Information on CreditWise was independently collected by CNBC and was not reviewed or provided by the company prior to publication.

  • Cost

  • Credit bureaus monitored

  • Credit score model used

  • Dark web analysis

  • Identity insurance

IdentityForce® UltraSecure and UltraSecure+Credit

On the Identity Force secure site

  • Cost

    For a limited time, 40% off all plans – offer ends 6/12. UltraSecure+Credit Individual starts at $139.90/year and UltraSecure+Credit Family at $209/year. Click “Learn more” for more details.

  • Credit bureaus monitored

    Experian, Equifax and TransUnion

  • Credit score model used

  • Dark web analysis

  • Identity insurance

    Yes, $1 million for all plans

Conditions apply. To learn more about IdentityForce®, visit their website or call 855-979-1118.

At the end of the line

Your credit score is the foundation of many financial opportunities. Without a strong credit score, you risk being denied opportunities to obtain affordable financing for a major purchase, possibly being rejected for a new job, not being approved for housing options and other fundamental decisions.

However, if your credit score isn’t perfect, there’s concrete steps you can take today to improve it. And once your credit score is up to snuff, you can start making more important financial decisions to increase your net worth and prepare for retirement.

Check out Select’s in-depth coverage at personal finance, technology and tools, The well-being and more, and follow us on Facebook, instagram and Twitter to stay up to date.

Editorial note: Any opinions, analyses, criticisms or recommendations expressed in this article are those of Select’s editorial staff only and have not been reviewed, endorsed or otherwise endorsed by any third party.

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Improve your credit with a debit card https://howtooccupy.org/improve-your-credit-with-a-debit-card/ Sat, 29 Jan 2022 14:34:06 +0000 https://howtooccupy.org/improve-your-credit-with-a-debit-card/ Select’s editorial team works independently to review financial products and write articles that we think our readers will find useful. We may receive a commission when you click on links to our affiliate partners’ products. For many, having a good credit rating is key to achieving many financial milestones in life, from getting a lower […]]]>

Select’s editorial team works independently to review financial products and write articles that we think our readers will find useful. We may receive a commission when you click on links to our affiliate partners’ products.

For many, having a good credit rating is key to achieving many financial milestones in life, from getting a lower interest rate on a loan to getting a higher credit limit. on your credit card. Credit cards are a way for people to increase their credit score with their daily purchases.

However, getting a credit card often requires a good credit score, so it can be difficult to start building your credit. However, fintech companies have been working on innovative solutions to help you build your credit score outside of traditional methods.

Extra Card created a debit card that allows people to build credit without a credit check or high credit score to qualify. Below, Select takes a look at how Extra Card works and the various features it offers.

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Our top picks delivered to your inbox. Shopping recommendations that help you improve your life, delivered weekly. Register here.

How can Extra be a debit card that improves your credit score?

Using an additional card may also impact your credit utilization rate. The credit utilization rate is the ratio between the credit you use and the total amount of credit granted to you. Your credit utilization ratio impacts the “amount owed” category of your FICO score. The “amount owing” category includes 30% of your credit score. Experts recommend keeping your credit utilization rate below 30%, or even 10% if you can.

Because the card is redeemed daily, your credit utilization rate will reset each day, Wimberly explains. When your credit utilization ratio resets frequently, you are more likely to have a low utilization ratio. Having a low usage rate also has a positive impact on your credit score.

The Extra card does not charge any APR or interest as you have to pay your balance daily. And unlike a credit card, Extra won’t let you spend more than you have in your bank account, so you won’t have to worry about overspending and potential debt.

To qualify for an Extra Card, you don’t need a credit score either. Extra does not perform credit checks, but potential cardholders must meet the following requirements:

  • Applicants must be 18 years or older
  • You must have an SSN or ITIN number
  • Applicants must have an address in the United States where you can receive your supplemental card (PO boxes are not valid)
  • Have a checking account at one of the 10,000 selected US banks
  • Have an iOS device (iPhone or iPad) or Android device running version 10 or later

According to Wimberly, 99% of applicants are approved for the card because all transactions on the card are guaranteed in cash. When cardholders sign up for Extra, they receive a spending limit based on the real-time balance of the bank account they choose to connect, Wimberly explains.

Fees and Rewards

Alternatives to the Extra Card

The extra fees can be quite a steep price to pay in trying to boost your credit score. You might consider alternatives like a secured credit card, which requires you to pay a deposit that serves as security if you do not pay your bills. Generally, your line of credit is equal to the amount of your deposit. Secured cards are much easier to approve if you have bad credit or no credit.

When Select analyzed various secure cards to determine which cards were best for people with no or bad credit who wanted to improve their scores, it ranked the Discover it® Secure Credit Card as the winner.

With the Discover it® Secured Credit Card, cardholders only need to put down a minimum deposit of $200 for a line of credit equal to that amount. Seven months after account opening, Discover will assess your credit card account to determine if you can upgrade to an unsecured line of credit.

If you don’t want to make a down payment, you might consider the “no annual fee” Visa® Petal® 1 credit card, which is aimed at people with non-prime credit who are looking to improve their scores.

The Petal 1 card has no annual fee, no welcome bonus, and earns 2-10% cash back at select merchants. With the Petal 1 card, you’ll have to make your monthly payments in full or risk having to pay interest. Unlike the Extra card, the Petal 1 card falls under the three credit bureaus, has no annual fees or foreign transaction fees (unlike Extra, the Petal 1 can be used abroad).

Plus, unlike the Extra Card, the Petal 1 Card is a credit card, so you’ll have a whole month to pay your bill.

At the end of the line

the Extra Card can be a useful tool for people who don’t qualify for most credit cards, but are looking to improve their credit scores. However, the card has a monthly fee of $8 or an annual fee of $84, so you might be better off getting a secured credit card with no annual fee in order to build your credit.

Secured cards will require a security deposit, but you’ll usually receive the deposit and qualify for an unsecured card after you’ve made your payments on time and in full for a few months. Extra Card also has drawbacks: your card history is not shared with the three credit bureaus and cannot be used abroad.

Check out Select’s in-depth coverage at personal finance, technology and tools, The well-being and more, and follow us on Facebook, instagram and Twitter to stay up to date.

Visa Petal 1 credit card is issued by WebBank, Member FDIC.

For Discover it® secure credit card rates and fees, click here.

Editorial note: Any opinions, analyses, criticisms or recommendations expressed in this article are those of Select’s editorial staff only and have not been reviewed, endorsed or otherwise endorsed by any third party.

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10 of the most hyped credit card features https://howtooccupy.org/10-of-the-most-hyped-credit-card-features/ Fri, 28 Jan 2022 00:29:39 +0000 https://howtooccupy.org/10-of-the-most-hyped-credit-card-features/ JTo stand out in the highly competitive credit card market, issuers often load their advertising with features and benefits that sound impressive. But the truth is, some just aren’t. Take “zero fraud liability,” for example. It’s not so much a feature as US federal law. Essentially all cards have it. Free credit score? If it […]]]>

JTo stand out in the highly competitive credit card market, issuers often load their advertising with features and benefits that sound impressive. But the truth is, some just aren’t.

Take “zero fraud liability,” for example. It’s not so much a feature as US federal law. Essentially all cards have it.

Free credit score? If it was 2010, it could be special. No more.

When choosing a card, it can be useful to know which features are snow work, added only to inflate marketing points. You can safely ignore them and focus on the attributes that really help you make a good decision, like annual fees, rewards, interest rate, and sign-up bonus.

The market is full of good credit cards right now, whether you’re looking for cash back, travel points, or a break on interest payments. When deciding on your next credit card, don’t be afraid to gloss over these marketing braggings.

1. Zero Fraud Liability

No one wants to be held responsible for unauthorized or fraudulent charges to their credit card when it’s so common. The number of “data breaches” in 2021 has reached an all-time high, many involving payment card information, according to the nonprofit Identity Theft Resource Center.

But American consumers have been protected from fraudulent charges for decades by the federal Fair Credit Billing Act. Technically, you could be owed $50 in some cases, but banks and credit card networks, such as Visa and Mastercard, generally waive liability. The fact is that it is not a special characteristic on which to base a decision.

2. Free Credit Score

Periodically checking credit scores is a good idea. And while you had to pay to get them, you usually don’t anymore. You can get them not only from your credit card company or bank, but also from various other third-party sources.

If you need access to your credit reports, on which the scores are based, you can get them at annualcreditreport.com. The three major credit bureaus announced in January that you can access reports weekly, instead of once a year, through 2022.

3. No overlimit fees

Credit cards used to charge penalty fees if you charge more than your credit limit. They usually don’t anymore, thanks to federal protections, namely the Cards Act of 2009.

“Overlimit fees that were common before the card law was implemented remained almost non-existent in 2019 and 2020,” says the latest market analysis from the Consumer Financial Protection Bureau.

Again, “no over-limit fees” is a nice-sounding marketing pitch, but it’s not a factor.

4. No foreign transaction fees (on travel cards)

Some overhyped marketing points depend on the type of card. For example, some cash back credit cards charge a foreign transaction fee – usually around 3% extra on anything you buy abroad. So if you’re trying to choose between two cashback cards and one of them doesn’t charge this fee, it may be a legitimate advantage.

But no self-respecting travel card should charge for them, and the vast majority don’t. Still, you can bet it’s going to be an important feature listed for some point- and mile-generating cards anyway.

5. Metal Cards

Choose a credit card based on the quality of the card itself, not its composition – or whether it clinks when you drop it on the table. Your wallet will thank you.

PS: It’s a headache to get rid of old metal cards.

6. Early Warning/Fraud Monitoring

Sounds good, right? “Get a warning of suspicious activity on your account.” But remember, this is for the sender, not you. You are not responsible anyway.

Additionally, if the issuer’s fraud algorithms are too much sensitive, you might end up with a bunch of declined or flagged transactions on legitimate expenses.

7. Card lock

Called various names – such as a freeze or a quick lock – this service essentially allows you to “disable” a credit card you’ve lost or misplaced, to thwart thieves. It’s a cool and potentially very useful feature, but it’s not unique, at least not anymore. Most major card issuers offer a card lock version.

And again, this is ultimately a feature to protect the transmitter, not you. You are not responsible.

8. Contactless payment

Also called “tap to pay”, this is often touted. But that’s not a differentiator because it’s almost standard now, at least among newly issued and replacement cards.

Visa said last year that 300 million Visa cards in the United States were contactless-enabled, representing a significant share of active credit and debit cards nationwide.

9. Mobile app

We are in 2022, when smartphones are ubiquitous. If your credit card account doesn’t have a mobile app, that should be a red flag.

Other common technical features that shouldn’t influence your card decision: EMV chip technology, compatibility with digital wallets, paperless statements, SMS/email notifications or the ability to automatically pay from a bank account or choose your payment date. That’s all standard fare now.

10. 24/7 customer service

Again, pretty much expected these days. (24-hour customer service doesn’t speak for the quality of that service, of course.)

It’s not outright deception when broadcasters make these fluffy claims; they really do offer those features. But the same goes for almost all of their competitors, and it would be a shame if those claims tip your decision towards the wrong card.

More from NerdWallet

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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Data Breach Alert: LendUs, LLC | Console and Associates, PC https://howtooccupy.org/data-breach-alert-lendus-llc-console-and-associates-pc/ Fri, 21 Jan 2022 01:35:50 +0000 https://howtooccupy.org/data-breach-alert-lendus-llc-console-and-associates-pc/ In recent news, the mortgage company, LendUS, LLC announced that it has experienced a data security event affecting the personal information of more than 12,000 people. Last year, LendUS, LLC learned that several company employee email accounts had been compromised. Although the details of how an unauthorized party gained access to the employees’ email accounts […]]]>

In recent news, the mortgage company, LendUS, LLC announced that it has experienced a data security event affecting the personal information of more than 12,000 people. Last year, LendUS, LLC learned that several company employee email accounts had been compromised. Although the details of how an unauthorized party gained access to the employees’ email accounts have not yet been released, thanks to a subsequent investigation, the company determined that the names and social security numbers of thousands of customers were contained in various emails and attachments.

A data breach occurs when a hacker or other criminal actor secretly gains access to sensitive consumer information stored on a company’s servers. Often, hackers target organizations that they know rely on outdated or inadequate data security measures. Hackers will often personally use the information obtained through a cyberattack to commit identity theft. However, it is also common for a hacker to sell the data to the highest bidder.

Victims of a data breach are at increased risk of identity theft, although they may not immediately notice suspicious activity. However, given the risks, it is imperative that the parties involved take all necessary steps to protect themselves against identity theft and other potentially significant financial loss.

Anyone receiving a data breach letter from LendUS, LLC has good reason to be concerned. Recently, the number of identity theft crimes has increased dramatically. In many cases, the information needed to steal another’s identity has been obtained through a data breach like this.

Businesses have an obligation to protect consumer data, and if it appears that LendUS, LLC mishandled your data prior to the data breach, you may be eligible for financial compensation through a breach lawsuit. of data.

Can consumers affected by the violation hold LendUS, LLC financially liable?

When you applied for a loan through LendUS, LLC, you provided the company with your personal information. By doing so, you trusted that the company would take your privacy seriously. Surely you assumed that they would take all necessary measures to prevent your sensitive financial and personal identifying information from ending up in the hands of a criminal. However, the LendUS, LLC data breach raises serious questions about the company’s data security measures in place at the time of the breach.

All companies, including LendUS, LLC, have an ethical and legal duty to protect the personal, identifying, financial, and health information of consumers in their possession. Although developing a robust and up-to-date data security system entails additional expense, it is only a cost of doing business in an environment where cyberattacks are common. If a company fails to protect sensitive consumer information, it can be held liable through a data breach class action lawsuit. Of course, data breach laws are complex, news of this data breach is very recent and, unsurprisingly, there is no evidence yet that LendUS, LLC has been negligent in the way it has processed consumer data. However, our data breach lawyers are actively investigating the breach to determine what legal remedies, if any, the affected parties have against LendUS, LLC

If you have questions about your ability to bring a class action lawsuit against LendUS, LLC, it is important that you contact a data breach attorney as soon as possible.

What to do if LendUS, LLC sent you a data breach notification

If you receive a data breach notification from LendUS, LLC in the mail, it means that an unauthorized person may have accessed, viewed, and retained your sensitive personal information. While it’s impossible to say why someone sought your information and what they might do with it, given the risks involved, it’s important that you give the situation the attention it deserves.

Below are some steps you can take to protect yourself against identity theft and other possible financial risks that such a data breach presents:

  • Read the LendUS, LLC data breach letter carefully to determine what information about you was accessible;
  • Make a copy of the letter for your records;
  • Sign up for the free credit monitoring service provided by LendUS, LLC;
  • Change all your passwords and security questions for all online accounts;
  • Enable two-factor authentication, where available;
  • Regularly review your credit card and bank account statements for any signs of suspicious activity;
  • Monitor your credit report for any unexpected changes that could be a sign of identity theft;
  • Contact one of the major credit bureaus to ask them to add a fraud alert to your profile; and
  • Notify your banks and credit card companies of the data breach.

About LendUS, LLC

LendUS, LLC is a mortgage company based in Alamo, California. The company is the result of a merger between two other mortgage companies, RPM Mortgage and American Eagle Mortgage. LendUS, LLC markets itself as an “ultra-attentive” manager and offers a range of residential mortgage products.

According to the most recent data available, LendUS, LLC has approximately 720 employees and generates approximately $80 million in sales.

LendUS, LLC Consumer Data Breach Details

According to the latest press release issued by LendUS, LLC, in early 2021 the company became aware of unusual activity on the email accounts of several employees. In response, LendUS, LLC secured the affected email accounts and initiated an investigation. The investigation revealed that an unauthorized party accessed certain email accounts at various times between February 2, 2021 and March 22, 2021. Although LendUS, LLC was unable to determine which emails or attachments had been viewed, the company determined that the email accounts contained the names and social security numbers of 12,205 people.

LendUS, LLC notes that there is no indication that the unauthorized party has used or intends to use any of the data obtained. On January 19, the company began sending data breach notifications to all affected parties, informing them of the breach and what they can do to protect themselves.

Below is a copy of the original data breach letter issued by LendUS, LLC (the actual notice sent to consumers can be found here):

Dear [Consumer],

LendUS, LLC (“LendUS”) understands the importance of protecting the personal information we maintain. I am writing to inform you of an incident involving some of your personal information. This notice explains the incident, the actions we have taken, and some actions you may consider taking in response.

We have investigated unauthorized access to certain LendUS employee email accounts. Upon learning of the activity, we immediately took action to secure the email accounts and launched an investigation with the assistance of a cybersecurity firm. The investigation determined that an unauthorized person accessed certain accounts at various times between February 2, 2021 and March 22, 2021. The investigation was unable to determine whether emails or exhibits attached accounts had been viewed or downloaded by the unauthorized person; however, we were unable to rule out this possibility. Out of an abundance of caution, we reviewed emails and attachments that could have been viewed or downloaded, and on December 21, 2021, we determined that an email or attachment contained your <>.

We wanted to let you know about this incident and assure you that we are taking it very seriously. We encourage you to remain vigilant by reviewing your account statements and credit reports for any unauthorized activity. If you see any charges or activities that you did not authorize, please contact the financial institution or credit bureau immediately. As an added precaution, we’re giving you a free one-year membership to Equifax CompleteTM Premier, including credit monitoring and fraud alerts. For more information on Identity Theft Prevention and Equifax CompleteTM Premier, including instructions on how to activate your free one-year subscription, please see the pages that follow this letter.

Your trust is important to us, and we regret any inconvenience or concern this incident may cause. To prevent such a situation from happening again, we have implemented additional technical protection and security measures to further improve the security of our IT systems and offer additional security awareness training for our staff. If you have any questions, please call 855-604-1753, Monday through Friday, 6:00 a.m. to 6:00 p.m. Pacific Time.

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Why Brands Are Launching Their Own Credit Cards (And 10 To Check Out) https://howtooccupy.org/why-brands-are-launching-their-own-credit-cards-and-10-to-check-out/ Mon, 17 Jan 2022 17:06:49 +0000 https://howtooccupy.org/why-brands-are-launching-their-own-credit-cards-and-10-to-check-out/ The highly competitive world of retail means businesses need to find ways to retain customers. Launching a credit card gives a brand the ability to distribute member points for purchases everywhere, offer higher perks for in-store purchases, and keep the company’s name front and center. mindset of consumers. Is it worth the time and effort […]]]>

The highly competitive world of retail means businesses need to find ways to retain customers. Launching a credit card gives a brand the ability to distribute member points for purchases everywhere, offer higher perks for in-store purchases, and keep the company’s name front and center. mindset of consumers.

Is it worth the time and effort it takes to cast a map? As digitalization accelerates beyond anyone’s expectations, finding ways to appeal to modern consumers can prevent smaller brands from being eclipsed by online retailers.

According to McKinsey, the COVID-19 crisis accelerated digital products by seven years. Businesses reacted and acted 20 to 25 times faster than they thought possible to adapt to the rapid changes. This means competitors may already have systems in place to attract the target audience.

Why do retailers set up their own credit cards for their stores?

Credit can benefit the store, providing an additional percentage on purchases when the consumer spreads payments over several months. Why should an outside party get 2.6% or more, when the store can grab those profits instead?

Companies can also offer bonuses and set up loyalty programs via a card. A first purchase discount is an attractive offer for most people. It could also help them move forward with the impulse purchase they would otherwise be waiting for.

Retail business owners know a customer who says they’ll think about it and come back will probably forget about the store and the products the second they leave. “Out of sight, out of mind” applies to physical stores.

People fresh out of school may want to build credit, but may not yet qualify for major brand cards. Small store credit cards are traditionally easier to obtain. There is approximately $1.47 trillion in student loan debt in the United States. Millennials and Gen Z may feel more comfortable starting out with a small line of credit card from their favorite retailer before getting more lines of credit. Use a card to attract these consumers and build brand loyalty before they go elsewhere.

Tips for starting a credit card

Don’t worry about the costs of starting a credit card. Businesses can partner with major credit card companies, such as MasterCard and Visa, for a branded card. Co-branded cards add the support of a large company to the card, but give the retailer the advantage of adding loyalty programs and perks.

Pay close attention to all terms and conditions of the partnership. Choose a respected company that the brand and its users can adopt. Read all the fine print to avoid finding yourself in a difficult situation.

Learn From These Branded Credit Card Examples

1. CAT Card

The new CAT card is an excellent example of customer benefits. Buying parts, renting equipment, and servicing large machines all add up. Businesses sometimes suffer from cash flow issues, and a credit card with net 30 terms or the ability to spread out payments can help small builders and excavators get through lean times. An added benefit is the rewards users receive for using the card.

The card matches the brand’s color palette with a black background and gold accent. It has a distinctive look that customers will instantly recognize.

2. Instagram

For brands selling essentials and consumables, a credit card is a no-brainer. Customers can set orders on autopilot and even earn money for future purchases. Part of the changes of COVID-19 is that more people are ordering their groceries online and picking them up curbside or having them delivered.

The Wall Street Journal reports that the cards will arrive next year and offer 5% cash back on Instacart purchases. There are rumors that DoorDash will offer a similar deal with discounts at area restaurants.

3. General Engines

General Motors has partnered with Goldman Sachs to offer a co-branded rewards card program. The idea behind their branding program is to earn points for future purchases. Their customers can manage their borrowing needs while getting discounts on something they would buy anyway.

4. Walgreens

When people think of a branded credit card, a local pharmacy might not be their first thought. However, a credit card pairs perfectly with the customer loyalty program that Walgreens already has in place.

The myWalgreens credit card features the MasterCard logo. Customers earn $25 in Walgreens cash just for signing up. After that, customers earn 10% cash rewards on branded purchases and 5% on other items purchased from the store. They can also earn rewards for being healthy.

5. Verizon

Verizon timed with Synchrony Bank to offer its first consumer credit card. Entering the financial sphere helps the company to diversify its holdings but also offers advantages to users. The product has no annual fee and 4% back on gas and groceries.

Cash back goes towards Verizon products and services, such as a phone bill or the purchase of new devices. Recently, Verizon announced that it would partner up and allow cardholders to redeem rewards for flights, hotels, car rentals, and certain gift cards.

6. Cato Fashions

Shoppers at the retail clothing store will appreciate the opportunity to get a Cato credit card and start earning benefits. Benefits include no annual fees and no interest if users pay the balance before the next billing date. The card is issued by Cedar Hill National Bank. Allowing people to shop with a store credit card means they can buy their entire wardrobe for the season while they’re there.

7. Fingerhut

Although more of a store credit account, Fingerhut is a great example of how a mail order business uses credit to encourage customers to purchase gifts and larger items through the through their service.

For those who are just building credit, Fingerhut can be a good option, as they have a 90% approval rate upon verification. Clients can apply through their site and get a decision in minutes. They offer low monthly payments and a chance to build a credit history.

For those with bad credit or no credit history, Fingerhut is a good option. After three on-time payments, they often increase the credit limit. They also report on-time payments to credit bureaus, which can help improve credit scores quickly.

8. West Elm

The West Elm Store Card taps into their Key Rewards program and works with a range of their stores including Pottery Barn, Williams Sonoma, West Elm and Mark & ​​Graham. Card members get 5% back every time they shop at their seven brands. Alternatively, customers can choose a 12 month financing option.

Be the first to know about new arrivals and special promotional offers. By offering perks, like an exclusive newsletter, they encourage their customers to shop within their brands instead of pick and choose.

9. Amazon Prime Rewards Visa

E-commerce store owners should pay close attention to Amazon Prime’s credit card rewards program. The brand offers 5% cash back on branded purchases, 2% at restaurants, gas stations and pharmacies, and 1% on all other purchases. There is no annual fee and cardholders can use it anywhere Visa or MasterCard is accepted.

Those who already have a Prime membership may find the card a good option. However, if one has to pay the Prime annual fee, it’s not good value with other options out there.

Amazon offers card sign-up incentives such as account credit or discount. The offer varies, but can save users a lot of money on major purchases. While promotions cost Amazon upfront, users then continue with the card, earning Amazon additional fees and interest charges over time. This type of credit card offer is more of a long-term financial investment, where the business owner expects the card to pay off later.

10. Lowe’s Advantage Card

Lowe’s offers a credit card that helps people make big purchases to improve their homes. Some of their card perks include no annual fee, 5% off all qualifying Lowe’s purchases, or promotional financing (variable). The card can only be used at Lowe’s and will accrue deferred interest if the borrower does not repay the balance at the end of the promotional period.

They frequently offer perks such as 20% off up to $100 on the first purchase after opening the account. The special promotional period is often six months. They may offer special finance payments or long promotional periods for purchases such as appliances or heating and air conditioning.

Launch of a branded credit card

The benefits of launching a credit card for a business far outweigh the learning curve. With so many major credit card companies offering co-branding opportunities, there’s really no reason why companies shouldn’t harness the power of offering rewards and building loyalty programs by card.

Customers will likely spend more once they have access to a line of credit. The store will help young customers establish a credit history. Brands like Kohl’s create loyal customers by giving them their first credit card and helping them get started.


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