Posts Tagged ‘credit monitoring’

The Joy of Smart Credit Management

December 28, 2011, by Good Score Guys


credit managemnet during holidaysThe holidays are all about family and spending time with loved ones. We love this season because it seems no matter where you turn, people are smiling. And if they have credit scores like we do, there’s plenty to be happy about. We love spreading holiday cheer, as well as information about getting the most out of your credit scores. We may not be able to achieve peace on Earth, but we can help you have peace of mind about your credit. Here are some of the ways we help you take control of your credit.

Credit scores – The first rule of thumb about making the most of your credit is to check your three credit scores – not just once, but regularly so you can track fluctuations. By knowing your credit scores, how they are determined, and when they change, you can decide whether you need to manage your finances more effectively or keep up the good work. We keep track of our credit scores by wearing them on our clothing, but hey, that’s just us.

Credit Monitoring – Once you know your credit scores, you need our 24/7 monitoring service to guard you against fraudulent activity. Just like leaving Billy Bad Score near a plate of cookies meant for Santa, not keeping an eye on the situation can have disastrous results. After all, it only takes one bad credit score to prevent you from getting that low-interest mortgage or auto loan that you need.

Email Alerts – We’re vigilant about our credit scores, but we know people have hectic schedules that often prevent them from checking for suspicious activity that could make their scores drop faster than Santa down a chimney. Fortunately, we alert you automatically whenever sudden changes occur on your credit files. You’ll be able to spend more time worrying about wrapping gifts (don’t forget the batteries!) and less time worrying about things like identity theft.

For access to your three credit scores, 24/7 credit monitoring and automatic alerts, sign up for the Power of 3 from FreeScore. These services will help you keep control of your credit scores throughout the holidays and beyond. It may not be that new television you’ve had your eye on, but we promise that smart, steady credit protection and management will be the gift that keeps giving for many holidays to come.

Guest Blogger:

Good Score Guys
Good Score Guys

Everyone has three credit scores, and we hope yours look as good as the Score Guys! A credit score over 700 is considered Good or Very Good, and will help you get the lowest interest rates and best deals. Listen to what they have to say!

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The opinions, findings and suggestions expressed here belong to the sole author and do not necessarily reflect the views of FreeScore.com.


protect from identity theft on vacation, use credit monitoringFrom emails to passwords to financial data stored in applications and programs, there is a treasure trove of information for identity thieves in your electronic devices. During this busy summer travel season, take a few precautions to ensure your private information stays that way.

Hold on to your devices
The airport. A library. The coffee shop. These are all places we mistakenly leave behind the technology devices we can’t live without, like our smart phones, laptops, tablets and USB drives. Forgetting your iPhone can do more than just create a big inconvenience; think about all the information that’s stored on the device. A Texas-based data security company discovered that more than 11,000 laptops, tablets, smart phones and the like were left behind at airports. When you’re on vacation it’s perfectly fine to relax; just remember the location of all your electronics and don’t leave anything behind.

Be wary of WiFi
Free WiFi seems like a basic human right, but when you’re traveling – especially abroad – you may want to be wary of connecting to any signal that’s available. Identity thieves will set up fake networks, allowing them to grab your information when you log on. Before you connect to any WiFi signal, make sure it’s legitimate.

You can avoid the headaches of identity theft during your summer vacation and throughout the year with FreeScore.com. FreeScore gives you the Power of 3: credit scores, monitoring, and alerts at the three major credit bureaus — TransUnion, Experian, and Equifax. If somebody opens a new account in your name while you are lying on the beach or anywhere else, at any time, FreeScore will notify you so you can take immediate action. Hang on to your electronics, and take proper steps to keep identity thieves at bay.


know your credit score before you apply for loanBeginning July 21, if you are turned down for a loan or given a less-than-favorable rate, the credit agency you applied to must show you the credit score used to determine its decision. The new regulation seeks to help consumers understand where they stand in the often-convoluted world of credit scores.

Waiting until you receive a rejection letter to discover one of your credit scores isn’t the brightest idea. Applying for new loans and credit cards, whether your application is accepted or not, can negatively impact your credit score, giving you an even higher chance of an unfavorable result.

When you sign up with FreeScore.com, you’ll have instant access to all three of your scores from the major credit bureaus: TransUnion, Equifax and Experian. You’ll be able to see what your scores are, so you can formulate a plan to get the most out of your credit. You’ll also be enrolled in 24/7 credit monitoring, which automatically emails you an alert whenever something changes in your credit profile that could affect your credit scores. Knowing all three scores before you apply for a loan will empower you to negotiate the best rate possible and spare you the embarrassment of being caught off guard by a bad credit score

Don’t tarnish your credit history with a string of rejected loans. Get all the information you need beforehand.

Were you aware of the new regulations? Do you think they will help demystify the loan or credit process for consumers?


credit card debt improves credit scores and economyWith the economy still down, many Americans are wary of the charge-now, pay-later mentality of years past. However, an increase in credit card debt may help the economy. According to a recent article on USAToday.com, the ratio of non-mortgage consumer debt to disposable income is at a 15-year low of 20.7 percent. What does this mean for average person? It means that even though 70 percent of the economy is tied to consumer spending, people are still reluctant to spend money they might not have.

Several factors such as falling home prices and high gas prices may be working together to create this shift from splurging to saving. Another reason may be a shift in the culture. Americans today are being more selective with purchases, using credit cards but avoiding accumulating balances.

However, this doesn’t mean that using a credit card is a bad thing. In fact, charging items to your credit card and making the required minimum payment each month can help your 3 credit scores. It’s okay to treat yourself, just make sure you do it responsibly. To learn more about your 3 credit scores, visit FreeScore.com. FreeScore gives you access to your scores and other vital credit information from the 3 major credit bureaus – Equifax, Experian and TransUnion. You’ll be able to see your credit history and identify good or bad behaviors. To help ensure that no one tries to run up a high credit card bill or take out a loan in your name, FreeScore even monitors your scores and alerts you to sudden changes in your credit profile. And with monthly updates to your credit information, you’ll be able to track the effect of your spending habits on your scores.


Just in case you hadn’t heard, Sony’s Playstation Network (PSN) went offline mysteriously on April 20, 2011. The company’s Qriocity music service also went offline. With little to no word on the cause from Sony, millions of gamers were left to speculate about such massive and prolonged outages. However, PSN users recently received an email which stated the following:

Sony security breach “We have discovered that between April 17 and April 19, 2011, certain PlayStation Network and Qriocity service user account information was compromised in connection with an illegal and unauthorized intrusion into our network.”

Names, addresses, PSN/Qriocity logins, email addresses and birthdates were obtained by the intruder(s). Also, Sony states that there is a possibility that credit card numbers stored on the server may have been obtained.

While this news is certainly alarming, the company does provide some information that can help those affected prevent identity theft. Sony recommends that PSN users review financial statements and credit reports for unusual activity.

If you’ve been affected by this security breach, FreeScore can help put your mind at ease with its around- the-clock credit monitoring feature, which automatically alerts you to fraud and errors in your credit information. In addition, at FreeScore.com you’ll be able to easily access and review your credit scores from all 3 major credit bureaus – Equifax, Experian and TransUnion. By being vigilant, you can make sure that no one is trying to steal your identity, and that the only person using your credit is you. After all, it only takes one bad score to ruin everything.


fraudulent medical billsConsumers who recently paid for a medical procedure for themselves or a loved one may want to check their credit reports after receiving their hospital bills. While this is often the last thing on a consumer’s mind following an operation, recent research by the Medical Billing Advocates of America suggests that nearly 80 percent of all medical bills have some type of mistake.

These mistakes range from small errors, such as an incorrect name, address, or insurance group number, to big errors, such as mistaken operating-room charges or room-and-board billings that can add up to hundreds of dollars in extra fees, CBS News reports.

Consumers could find that they’ve been reported to one of the major credit bureaus because they didn’t pay their hospital bill in full, the news source says. Individuals who don’t check their credit reports frequently may not be aware of this.

As a result, they could end up with delinquencies or late payments on their credit reports, which in turn could affect their ability to get favorable terms on credit cards, insurance policies, and mortgage loans later in life.

U.S. Soldiers Fight Credit-Score Woes

December 1, 2010, by FreeScore


Keeping track of your credit scores can be difficult for most Americans. Between dropping the kids off at soccer practice, picking up the groceries, and making dinner, it can be hard to find the time. It’s even harder to keep track of your credit scores if you’re engaged in battle in a foreign country.

soldiers and credit scoresWhen service members are sent overseas, their monthly bills typically don’t stop coming. Soldiers with families still need to make insurance payments and deal with everyday financial difficulties despite their extraordinary circumstances.

This can lead to missed payments and other infractions that can harm credit scores. Those going overseas should take the necessary steps to ensure that when they return, they’re not facing big damage to their credit histories. To prevent any avoidable problems from surfacing, service members can appoint a trustworthy family member or friend to manage — or at least keep an eye on — their various financial obligations.

Fortunately, due to the Service Members Civil Relief Act, lenders are prohibited from racking up outrageous charges on those in uniform. The act limits interest rates on outstanding payments to no more than six percent if military duty interferes with a soldier’s ability to repay a loan. Some banks, such as Bank of America, offer even lower rates, the Los Angeles Times reports.

Still other companies offer free financial services to the men and women of the armed forces. Military personnel and their spouses can get free credit scores, free analysis of their credit reports, and complimentary, personalized advice on how to manage their finances, Navy Times reports.


corporate cards and personal creditIn 2009, Americans charged $140 billion to their company credit cards, covering everything from flights and hotel rooms to office supplies and party favors. Financial analysts, however, are warning consumers to monitor their spending habits closely this year, as new statistics show that they may get stuck with the bill.

ABC News reports that 35 percent of company credit cards have joint liability or individual contracts that hold the employee responsible for the debt. Surprisingly, a majority of Fortune 500 firms make their card holders pay for all charges as well.

Charley Heiges is one of many Americans who found himself stuck with a corporate credit card bill months after several expensive charges had been made — and after the company he worked for went out of business. He only discovered he was responsible for the account when he was turned down for a personal loan.

“My credit score had been destroyed. My life had been destroyed,” Heiges told ABC. “I basically lost everything.”

Corporate card charges can show up on personal credit reports, tipping consumers off to any company expenses before the debt grows out of control and inflicts credit score damage. Consumers who carry company credit cards are advised to keep an eye out during the application process: if they’re asked to provide personal information and/or to pay off the credit card charges and request reimbursement, it’s likely that their business credit card transactions will appear on their credit reports.

When Credit Cards Work for Teens

August 25, 2010, by FreeScore


credit cards for teensThis weekend, under new credit CARD legislation, consumers were given more transparency and protection against issuers. Furthermore, the CARD Act provided parents with greater peace of mind, prohibiting teens under the age of 21 from applying for credit without a co-signer or the financial means to repay the debt.

But, as Technorati reports, cards may not be all that bad for kids heading off to college.

A co-signer with a good credit history can provide a teen with a card they can to use to learn how to manage their finances in the future. Owning a card can also teach a young adult money management skills and responsibility. The more opportunities young adults have to build a credit history, the more likely they are to be approved for loans and other lines of credit later down the road.

Co-signers still maintain a certain amount of control over the joint account. Parents who sign for their children have the opportunity — and an incentive — to monitor their children’s transactions. Active monitoring can reduce the risk of their children accumulating large debt levels, which can damage their parents’ credit scores because co-signers share responsibility for paying off any such debt.


secured or prepaid credit cardsIn a world where Internet access is available around virtually every corner, it’s hard to resist the temptation to do everything from shopping to bill-paying on a computer. Many consumers now rely on online bill-payment systems that automatically use linked bank accounts or credit cards to make the transaction. However, by using automatic payment systems, consumers put themselves at risk of overdrawing their accounts. This can result in penalty fees, debt, and even credit score damage.

The Chicago Tribune reports that while running errands via the Internet may be convenient, there are ways consumers can play it safe. Secured (also known as “prepaid”) cards have the same characteristics of debit or credit cards, but they allow holders to use them within a set limit. This eliminates the risk of accumulating debt and triggering penalty fees.

The Tribune notes that some companies may charge an activation or application fee, but they’re typically one-time payments.

Prepaid cards are ideal for inexperienced credit card holders and those who want to want to impose greater discipline on their financial management habits.