Nocita Carter's Blog

Should I Have My Credit Frozen?

This is better known as having a security freeze on your credit report to assist in detouring and hopefully eliminating individuals from using your credit information without your permission or knowledge.  A security freeze can also assist in the prevention of identity theft. 

The cost of having a security freeze placed on your credit report is minimal compared to the overall identity theft protection products that are currently available to the consumer.  In many instances you may be paying as much as $15 per month for identity theft protection that may not be effective in preventing your identity from being stolen.

The cost of placing a security freeze on your credit report with each credit bureau is approximately $10 if you are under the age 65.    If you are age 65 or older, the cost of placing a security freeze on your credit report with each credit bureau is approximately $5.  The overall cost to have a security freeze placed on your credit report file would depend on the laws of the state where you reside.

In many states, if you are a victim of identity theft there is no cost to place a security freeze on your credit report file with each credit bureau. A security freeze to protect your credit file is available to all consumers in the United States and U.S. territories. 

You may be wondering, how do I add a security freeze to my credit reports? Well, you can start by contacting each of the following credit bureaus directly to start the process:  TransUnion, Equifax, and Experian. 

So, having a security freeze on your credit report file may be something you may want to consider.  By having a security freeze with each credit bureau, this may aid you in protecting yourself against identity theft.  In addition, if you have already been a victim of identity theft, freezing your credit report file, may help eliminate further problems with your credit information. You may want to visit the following websites for each of the credit bureaus to get started with obtaining your security freeze for each of your credit reports: 

TransUnion

Equifax

Experian

Is Your Wallet Hurting From The High Cost Of Gas?

I don’t know about you, but we are paying a lot of money for gas these days and any increase in the cost of gas that we pay at the gas pump hurts our wallet and overall finances!

You’re probably wondering how high will the price of gas continue to increase and when will we see the prices come back down if at all? Well, who really knows what the answer will be to this question.  In the meantime, we should prepare ourselves for either way the price goes.

We can work on preparing ourselves to be in the survival mode if the gas prices continue to increase.  We’ve seen gas prices that are steadily approaching the $5.00 mark and in some places this is already a reality. It appears that the future outlooks on gas prices are that the prices continue to be unstable and volatile.
 
We are very much aware that the price of gas is easily manipulated by whatever is going on in the marketplace.  The price of gas can easily go up and slowly come down and back up again in these uncertain economic times.

High gas prices impact almost everything we try to do in some form.  That’s right, most everything we do we are impacted by the high price we are paying for gas. The higher gas prices eventually trickle down to cost us more in food, clothing, airfare, utilities, entertainment and many other areas.

Just think, we are getting hit left and right with increased fees in these areas due to the high price that we are paying for gas and it appears that this trend will continue for a long period of time.  

What can we do to help ourselves in these hard times while we’re trying to deal with our anxiety and sometimes anger over the high prices we are paying for gas? Here are some tips that you may want to consider to help you cope. You may find that you have already started to make some of these adjustments already:

 

Tip One:
 

Consider using public transportation if this is something you realistically can do.  The modes of public transportation you may consider would be: bus, train and car pooling.

Tip Two:

If you have a bicycle, consider using this mode of transportation for local short trips if this would be realistic of course.

Tip Three: 

Go to places that are necessary and actually needed for you to drive your vehicle.  In other words, if it is something you want to do and it is not needed, don’t do it. Consider letting your needs supersede your wants to save in your wallet on gas.  For example, necessary trips would be: work, school, doctor appointments, etc.... I think you get the picture.

 

Tip Four: 

Reduce your leisure, entertainment and travel commuting distances.  Consider doing more of these activities at home or near your home.

Tip Five:

Consider purchasing a vehicle if this is within your budget to assist you in reducing the cost you are paying for your overall fuel costs.  Look for vehicles that provide higher mpg(miles per gallon) city and freeway driving.  

 

Tip Six:

Slow down! Reduce your speed on the roadways you travel on. This will also assist you in obtaining better fuel economy.  Put less petal to the metal!

Tip Seven:
 

Try to make your trips to the places you need to go count.  Make a list beforehand of the places you need to travel and consider consolidating your trips.  This means instead of making several multiple trips you combine trips by going to the places you need to go along the way and your list will assist you with this. 

For example, if you need to go to your local grocery store, cleaners and post office, just plan to make one trip instead of three separate trips back and forth from your home. 

You would take your list and stop at each place you need to along the way and strategically make sure that you plan your stops based on where these particular places are located.  This really can work well if you plan your list ahead of time. Just by doing this you can save money  on gas!

 

 Tip Eight:
 

Try to locate and compare prices of gas stations in your area to determine who has the lowest price on fuel and consider going there for gas.  A good way to do this is when you are driving to the places you need to go, just observe the gas station prices along the way and you will be able to determine which locations have the best prices for your money.  In addition, you may want to compare gas prices in your local area via the internet.

Tip Nine:

Talk to your relatives, friends, neighbors, coworkers and others on the gas stations they are getting their gas from.  You can compare with each other on which gas stations have the lowest prices to get your gas.  You would be helping each other by networking information on the price of gas.

Tip Ten: 

Make sure your tires are property inflated. This can also assist in providing you with better fuel economy.

 

So, in order for you to survive the high cost of gas to your wallet you may want to consider using these tips to assist you.  These tips may be able to help you through this major problem that is affecting our wallets.  So, do what you can to help yourself and your family to reduce the amount of  money  you may be spending on gas.

 

 

 

 

 

 

Are You Looking To Buy Auto Insurance?

 

Are you in the process of buying a vehicle? Planning on switching your auto insurance to another company? Know a family member or friend that is looking to purchase auto insurance? Or, maybe you’re thinking about buying auto insurance for yourself? If you have answered yes to any of these questions then you may want to consider these tips before purchasing auto insurance:

Tip One:

Review your driving history for any prior tickets you may have by obtaining a copy of your driving record through your local department of motor vehicles.  Keep in mind that when you apply for auto insurance your driving record and credit history may be reviewed.
 

Tip Two: 

Shop around and compare insurance rates.  You may want to ask family or friends about their auto insurance companies.
 

Tip Three:

Consider getting higher deductibles for your collision and comprehensive coverages in order to reduce your overall vehicle insurance rate.  If you have an older vehicle you may want to consider eliminating collision and comprehensive coverage for that vehicle and only carry liability insurance coverage as required by your state.  Talk to the insurance company  or agent concerning the best option for your insurance needs.
 

Tip Four:

Select the best payment option that fits your monthly budget. Many insurance companies offer the following options to pay your insurance:  monthly, semi-monthly, quarterly and annually.
 

Tip Five: 

Once you’ve decided on an auto insurance company make sure to read your entire policy to ensure that you have the insurance coverage that you need for your vehicle.  In addition, make sure that you understand your policy after reading it and if you do not understand your policy discuss your concerns or questions with your insurance company or agent before you sign your policy agreement.

 

 Tip Six:

Be sure to maintain a good driving record and credit history. Keep in mind that prior to the renewal of your policy the insurance company will review your information to determine if you are still insurable and the amount of money you will be paying for your insurance prior to the renewal of your insurance policy. 

 

As you research auto insurance companies to determine the company that will fit your needs, you may want to consider using some of these tips to assist you in selecting the insurance company that is right for you.

Thinking About Purchasing A Vehicle?

Tamara has been planning on purchasing a vehicle for a couple of years.  She has decided to purchase a mid size SUV, but, she hasn’t chosen the model she plans on buying.  Tamara does know that she needs an SUV that will fit within her budget, meets her daily transportation needs and the vehicle she wants to purchase must be dependable. 

She is looking forward to buying her vehicle, but, she is a little apprehensive about going to a vehicle dealership to make her purchase.  Tamara is unsure how she should prepare herself before she goes to a dealership to look for the vehicle she would like to purchase.

Tamara wants to get the best deal for her money and she does not want to pay more than she has to.  In other words, Tamara wants to get the best deal possible and stay within her budget.  Well Tamara, you may want to consider these tips before you make your trip to a vehicle dealership to look for the SUV you want to purchase.

Tip One:

Consider researching on the internet for the vehicle you want to purchase before you go to the dealership.  After deciding on the type of vehicle you want to purchase, check the actual invoice price for the vehicle.  The actual invoice price would be the price the dealership paid for the vehicle from the vehicle manufacturer. You should be able to compare the actual invoice price of the vehicle against the manufacturer suggested retail price(MSRP).  This gives you the opportunity to negotiate the price of the vehicle you want to purchase.

Tip Two:

Skip purchasing extra unneeded features or accessories you don’t need or will not use in the vehicle you want to purchase.  Why would you want to pay extra for vehicle accessories or features if you really don’t want or need these items? Good question, so really think about this before you consider taking that leap.  Keep in mind by reducing or eliminating the extra features or accessories for your vehicle you will probably save more money on your vehicle purchase in the long run.

Tip Three:

Make sure that you test drive the vehicle you want to purchase before you consider buying the vehicle to determine whether or not this vehicle is the right choice for you.  Wouldn’t you want to know if you’re going to like the vehicle you’re thinking about buying before you spend your money?  Your answer to this question should be a definite yes.

By test driving a vehicle before you consider making a purchase, you will have the opportunity to decide whether or not this vehicle is really for you. If you decide the vehicle you have test driven is not for you, then no harm no fowl and you have not spent your  money  on something you do not want.    

Tip Four:

Consider getting your vehicle financing before you arrive at the dealership to purchase your vehicle.  You may be able to get a lower interest rate by going to your credit union or bank based on your credit rating.  By getting preapproved for your vehicle loan you may find that you are in a better position to negotiate the price of your vehicle with the dealership where you want to make your purchase.

Tip Five:

You may want to consider doing your vehicle purchase in stages by separating your vehicle selection, vehicle price negotiation, financing, and prospective trade-in.  Each component of your vehicle purchase stage is separate and should be handled as a separate unit in order for you to get the best overall vehicle purchase experience.

Tamara is now feeling more confident, equipped and better prepared with these tips to assist her.  She is very excited that she came across this  information  to assist her in her quest to purchase her vehicle and she is looking forward to purchasing her SUV in the near future.
 

 

Going On a Blind Date?

Cassandra was relaxing after arriving home from work.  She decided to listen to the telephone messages on her answering machine.  As she listened to her messages she came across a message from David.  David was a guy that Cassandra had been chatting with via an internet dating website for the past six months.  She had never met David in person. 

She replayed David’s telephone message several times trying to decide what she should do.  He wanted to know if Cassandra would go on a date with him.   David seemed like a nice guy, but Cassandra was not sure if she should go on a blind date with him.  

After thinking about the telephone message she received from David, Cassandra decided to return his call and agree to go out on a blind date with him.  Cassandra wondered how the two of them would go about getting the ball rolling for their date.  Well Cassandra, you and David may want to consider some of the following tips for your blind date:

Tip One: 

Plan to meet your blind date at a public place such as; a restaurant, coffee shop, museum, art gallery, etc…  Just make your first date simple and easy with no strings attached.

Tip Two: 

Just be the person you really are.  Meaning the real you is the person your  date  would like to see and hear. Keep in mind most people are looking for honesty, truth and realness in relationships.

Tip Three: 

Get your conversation started with topics you think may be interesting to you and your blind date.  For example, you could talk about current events, hobbies, entertainment or sports.  This is a good way for the both of you to break the ice on your date.

Tip Four:

Let a family member or friend know who, when and where you’re going on your blind date for your safety.  Keep in mind you do not know the person you’re going on a date with and your safety should be a primary goal when you date.

Tip Five: 

Enjoy yourself, relax and have fun with your  date.

 

By using some of these tips Cassandra was now prepared to go on her blind date with David.

 

Credit Card Red Flags To Avoid

Credit cards are a wonderful convenience for many consumers that utilize them.  However, credit cards can become an unhappy experience if not used wisely.  In today’s fast paced technological environment many people want the ability to pay for goods and services with ease.  With this in mind, it is important to recognize some of the red flags that a credit card user may want to avoid to minimize or alleviate potential problems along the way which include the following tips:

Tip One: 

Do you really want to charge a latte to your credit card? Is that latte really worth the interest you may be charged? You may want to think twice about this before you use your card to make small purchases.  Consider paying cash or using your debit card for certain purchases instead.

Tip Two:

Before using your credit card you may want to think about whether or not you can pay off your purchase in full when you receive your monthly statement. If your answer is no, then you may want to hold off on making that purchase until you can afford the product or service you want to buy.

Tip Three:

Have you recently checked on the amount you are paying in interest by looking at your credit card statement? If you determine that the annual percentage rate(APR) you’re paying is too much, then you may want to consider contacting your creditor to see if you can get your interest rate reduced.  If you’re unsuccessful in reducing your rate with your credit card company you may want to research other banks or credit unions to secure a lower interest rate in order to transfer your high interest balance to another credit card.

Tip Four:

Thinking about letting someone other than your spouse use your credit card or having a secondary user on your account? This is probably not a good idea.  Keep in mind that you will become ultimately responsible for any charges another person makes on your  credit  card account after you have authorized them to use it.

Tip Five:

Are you thinking about traveling to another country? Well if you are, you may want to check with your credit card company on what they will charge you for foreign currency exchange rates and international transaction fees.  These rates can vary so it is important that you check on this before you begin your travel plans.  This should eliminate unwanted surprises when you receive your credit card statement after you return from your travels abroad.

Tip Six:

Review your credit card statement monthly to assist you in correcting any errors that may be on your statement.  This may assist you in catching potential problems on your statement and will also help you to stay on track with your budget and bill paying.

 

Hopefully these tips may assist you with avoiding some of the potential credit card flags that can occur if you do not stay active in reviewing your credit card  information.

 

Is Your Credit Card Blocked By Your Credit Card Company?

If your answer to this question is yes then you may be wondering why this has happened to you.  The answer to this question in many instances is that your credit card was blocked for your own protection by your credit card company to prevent the unauthorized use of your credit card by potential criminals committing identity theft against you.

You’re probably saying to yourself, well that’s great but, I am the one  being inconvenienced because you are the person actually trying to use your own credit card and unfortunately the purchase you want to make has been declined because your credit card has been blocked by your credit card company.  Unfortunately due to the billions of dollars lost annually to fraud, credit card companies have increased security to safeguard their customers credit cards.

So, you may be wondering is there any way to know when my credit card may be blocked?  There is no specific way to make this determination however, the following tips may assist you in knowing what may activate a block of your credit card by your credit card company:

Tip One:

Charging small amounts to your credit card may prompt a block of your credit card.  Unfortunately criminals test the waters by charging small amounts to credit cards initially prior to making a larger purchase. 

Tip Two:

A change takes place in your shopping behavior.  Normally you may only spend a minimal amount of money on your credit card and then you change your spending habit and begin to spend large amounts of money on your credit card.  You already have a preexisting spending history with your credit card company so changing your spending behavior may trigger a block to your credit card.

Tip Three:

The use of your credit card while you’re traveling on business or while you’re on vacation in another city, state or country.  This may be unusual credit card activity for you and may cause your credit card to be blocked by your credit card company.

Tip Four:

In some instances making numerous purchases within a short period of time may trigger a block to your credit  card.

 

If your credit card has been blocked or declined by your credit card company you may want to consider following:

1) Contact your credit card company as soon as possible.  You may have already received a telephone call, email or text message from your credit card company advising you of their concern for the prospective unusual activity on your credit card.

2) Try to have another credit card or debit card available for your use until you have the problem resolved with your other credit card.

3) If you are traveling on business or for pleasure let your credit card company know this information.

If your credit card becomes blocked by your credit card company, just stay calm and understand that your credit  card company is trying to protect you from being a prospective victim of unwanted fraudulent activity that may result in identity theft against you.

Are You Harming Your Child’s Future?

Casey headed to her mailbox with anxiety written all over her face.  As she opened her mailbox she pulled out a huge stack of bills.  She thought to herself, more bills and more bills, how in the world am I going to pay all of these bills? Casey knew that her mortgage payment, electric bill, car payment, water bill, property taxes and five credit card bills were all past due and delinquent.  She had previously borrowed money from all her credit cards to pay her bills but, her credit cards were maxed out and she did not know what she was going to do.  Casey also knew that she could not borrow money from her family and friends because either they did not have monies to loan her or she had already received money she never paid back to them.  Casey believed that she needed to figure out how she was going to get the money to pay her bills, so she pondered about what she was going to do. 

As Casey sat in her den at her computer thinking about her dilemma she came across a retail website advertising a fifty percent off sale on her favorite designer shoes while she was on the internet.  She thought to herself that there would never be another sale on her favorite designer shoes and she really wanted to purchase the shoes while they were on sale.  Casey thought to herself, how can I buy my favorite designer shoes although all of my credit cards are maxed out? She then came up with an idea that she thought may solve her problem.  She decided that she would use her son Michael’s personal information to apply for a credit card in his name.  She thought that since she had her son’s social security number and all of his personal information it would be a great idea for her to get a credit card in his name.  So, Casey moved forward with her idea and applied for a retail credit card in her son’s name to purchase her favorite designer shoes that were on sale.  She also added a designer dress and handbag to her purchase that day because she wanted her shoes to match these items. 

Casey was so excited that she was able to get approved for this retail credit card in her son’s name with such ease, that she decided to obtain additional credit cards.  She grew even bolder with applying for more credit cards in her son’s name by obtaining a total of eight additional credit cards over a ten month period.  She thought it was okay for her to get these credit cards in her son’s name because she planned to pay the cards off in a few months and it was her son’s duty to help her.  However, Casey was never able to pay on the credit cards she had obtained in her child’s name.  Michael’s credit was ruined by his mother and he was only ten years old.

Casey really did not see that her actions were not only harming her child’s future, but, that her actions were illegal because in reality she had committed identity theft and financial fraud against her own child.

So, if you are a parent that may be anticipating using your child’s identity to get credit, opening bank accounts, etc… in your child’s name please STOP don’t do this to your child! Think about your child’s future, it’s very important you put your child’s future first and foremost.  Your child should have every opportunity that is available to them for their future without any obstacles and hindrances from you.  Remember as a parent you are the protector of your child and your child is depending on you to do this.  After all you were a child yourself and you looked forward to having a future that you could blossom and shine.

Keep in mind the downside you may face as a parent committing identity theft and financial fraud against your minor child or adult child may be the following: 

1) A possible felony or misdemeanor conviction based on the severity of the identity theft and financial fraud offense committed.

2) Federal or state prison time or possibly both based on the severity of the identity theft and financial fraud offense committed.

3) Fines may be imposed.

4) Restitution may be ordered as payment to the victim of the crime in addition to prospective fines imposed.

5) Possible long term or permanent separation from your child voluntarily or involuntarily.

It is noted that children or adults affected by identity theft and financial fraud caused by their parent may be faced with the following problems:

1) Emotional distress, feelings of resentment, sadness, distrust, being violated and betrayed.

2) The discovery of several credit cards, loans, bank accounts, etc… previously taken out in their name using their personal information when they attempt to apply for a loan in their own name.  It is noted they are denied credit due to their bad credit created by the parent.

3) The young adult tries to apply for a driver’s license and is denied because their social security number was used previously to secure a drivers license using their name.  The young adult discovers that the driver’s license issued in their name has numerous traffic violations that are unpaid and a warrant has been issued for their arrest.

4) Several collection agencies are sending collection letters and calling the minor child or adult about delinquent unpaid bills for accounts opened by their parent.

5) Your credit report and FICO score are run and you discover that there are prior credit accounts opened in your name and your credit is now tarnished.

6) You’re trying to decide whether or not you should contact law enforcement to file a police report due to your parent committing identity theft and financial fraud against you the victim.

7) The feeling of being isolated from your family members if you report the crime of identity theft and financial fraud to the police although you are the victim of this crime that has been committed against you.

This list for children or adults affected by identity theft and financial fraud caused by their parent goes on an on for many victims.  So, the question is; Are You Harming Your Child’s Future? If your answer is yes to this question then do the right thing and take responsibility and accountability as part of the first step to fixing this major problem you have created for your child now!  Second, apologize to your child for what you have done and explain why you created this problem for them. Do not try to justify your crime of  identity theft  and financial fraud as being okay because it is not, no matter how you want to perceive this situation. 

Keep in mind it can take years for your child to clean up their credit from this major problem you have created for them.  Do you really want to hurt your child this way? Don’t you want your child to have a better future? Doesn’t your child deserve all the opportunities that may be available to him or her?

Is There Information I Should Secure After A Car Accident?

Try to obtain as much information from the other person involved in the accident with you if it is safe for you to obtain this information.  If the accident scene is not safe for you to secure this information leave it up to the proper authorities to assist you with getting this information.

 

If you are able to safely secure the information from the other person after the accident you may want to consider the following tips:

 

Tip One: 

Secure the other person’s drivers license information such as: complete name, driver’s license number, address and birth date. Try to also secure their telephone number.

Tip Two: 

License plate, vehicle type, make, model, color and year.  Try to verify via the vehicle registration the owner of the vehicle involved in the accident with you.

Tip Three: 

Obtain the person’s vehicle insurance information including the following:  name of their insurance carrier, policy number and the phone number of their   insurance    carrier.

Tip Four: 

If there are any witnesses to the accident, try to secure the name, telephone number and address if possible of the witness(s) in order for your insurance company to contact them for a statement about the accident and additional information.

Tip Five: 

Note, if the police department comes to the scene of the accident depending on the circumstances involved a police report may be taken.  The police report may include information such as; the parties involved in the accident, vehicle information for the parties, facts of the accident and additional information.

Tip Six: 

Make sure you contact your insurance company to report the accident you were involved in as soon as possible.  Regardless if you plan on going through the other party’s insurance carrier for the repair of your vehicle or possible injuries you or your passengers may have sustained, it is important that you consider notifying your insurance company about the  accident.  In most instances your insurance carrier requires that you contact them when you are involved in an accident as part of your duty to them.  You may want review your insurance policy concerning this.

So, hopefully these tips will assist you with the information you may want to secure if you are involved in a vehicle   accident.

Looking To Get A Lower Interest Rate or Approval For A Home Loan?

So, you have submitted your loan application for a home or perhaps you’re trying to refinance your current mortgage to a lower interest rate when you’re suddenly told by your prospective lender that you are not approved for your loan or you are approved for the home loan but your interest rate will be astronomically high because of your credit report and score.  You may be in shock or disbelief about this news you just received from the lender because you thought your credit was in good standing and you would be able to qualify for a home loan and secure a lower interest rate.

You are probably wondering how you can go about trying to get a lower interest rate for your home loan or approval for a loan, you may want to consider using rapid rescoring.  Rapid rescoring is a service offered by most lenders and independent credit bureaus for a fee to assist consumers applying for a home mortgage to secure better interest rates for home loans and possible approval of a home loan.  It is noted that this service is not available directly to  consumers.  The consumer must go directly to the lender or mortgage broker to utilize rapid rescoring.

The way rapid rescoring works is that if there are mistakes or errors found on your credit report you will have to provide written documentation to prove there is an error or mistake on your credit report.  The documentation you have provided is then given to the rapid rescoring representative who will research and gather information to provide to the three national credit bureaus Experian, Equifax and TransUnion.  The rapid rescoring representative will ask the credit bureaus to correct your credit report information.  This process normally takes approximately twenty four to seventy two hours and your credit report is normally corrected and your credit score increases as a result of this effort.  It is noted that if you did this process yourself it could take several weeks to get your credit report corrected.  In many instances time is of the essence for the  consumer  attempting to secure a home loan purchase or refinance of an existing home mortgage.

Keep in mind when you’re trying to purchase a home or refinance your existing mortgage that you are diligent in trying to get the lowest interest rate you can and also ensure if you are turned down for a home loan that you give yourself a second chance by asking the lender or mortgage broker if they offer rapid rescoring.  In addition, if you decide to use rapid rescoring, be sure you do your part by providing the documentation needed by your rapid rescoring representative to assist in correcting negative information or errors that may be listed on your credit report.  You may also want to check with your rapid rescoring representative to see if your debt can be restructured to also increase your credit  score.