Will Your Credit Score Be Affected by the Global Payments Hack?

Posted on April 3, 2012 by Steven Greenwald

Will Your Credit Score Be Affected by the Global Payments Hack?

Will Your Credit Score Be Affected by the Global Payments Hack?

Will your credit score be affected by the Global Payments hack?

This is a great question.

In case you haven’t heard Global Payments, a third party credit card processing company, with clients such as financial institutions, Government agencies and large companies, stated on Friday that 1.5 million credit cards may have been exposed when they detected unauthorized access to their processing system.

Both Visa and MasterCard were included.

This leaves consumers with many questions such as:

Will you be a victim in this hack?
What do you do if you find unauthorized charges on your credit card bill?
Will your credit score be affected by the Global Payments hack?
Is your identity threatened if you were targeted?

A few of our answers including “will your credit score be affected by the Global Payments hack” are answered in a great article by The Washington Post which I will quote below:

“What should I be looking out for? As a cardholder, you should keep an even closer eye on your bank statements to look for unauthorized charges. Investigate and report any anomalies as quickly as possible.Also, be aware of phishing scams. Keep in mind that no reputable firm will ever ask you to enter your username and password into an e-mail, and any e-mails asking for that information should be deleted immediately.I think my account’s been compromised. What can I do? If you’re worried about charges you’ve found on your cards, contact your card company immediately. Cards often have a toll-free number printed on them in case of emergency.

You can also put a fraud alert on your credit report to contain the damage from bad charges.”

This is an unfortunate event affecting millions of people and organizations, and although we cannot turn back the events we can take action to determine our liability, if any, minimize it if we are affected and put measures in place to prevent it from happening again in the future.

A person may well consider Identity Protection from this point on as well as being sure to closely monitor all credit card statements and suspicious calls or mail regarding your financial information.

To answer our original question…

Will your credit score be affected by the Global Payments hack? Click here to get your free credit score and find out.

Yet More Good Credit Score Benefits – Perks for a Great Credit Score

Posted on March 30, 2012 by Steven Greenwald

Yet More Good Credit Score Benefits – Perks for a Great Credit Score

Yet more good credit score benefits… YES they just keep coming.

This is the 4th or 5th post I’ve done in the past week on this topic and indeed there are yet more good credit score benefits I can tell you about.

Rich or poor… educated or not… everyone has challenges, troubles and stress in their life but many of us can leave some significant life obstacles behind forever by simply clamping down on their financial disciplines and building up their credit score to a higher level.

The perks for a credit score go far beyond lower interest rates and having an easier time getting credit. This post offering yet more good credit score benefits is in hopes they will give you the gentle “kick in the pants” needed for you to take the plunge and do the work required for you to also join the “club” handing out all these rewards.

Today I was able to find yet more good credit score benefits on the popular eHow.com website…

Employers look to your credit score as a hiring factor... yet another good credit score benefit

“Employment

Many potential employers will pull your credit report when you apply for a job. By reviewing your credit history, they can see whether you are reliable in your agreements to pay your debts. In the eyes of an employer, if you are reliable with debt, you may demonstrate the same reliability on the job. If you are applying for a position in which you will be handling money, an employer will look at your credit history to determine whether you are carrying defaulted debts or are late on your payments to your creditors. Employees who are in need of extra money to pay debts are considered to be a theft risk and are much less likely to be hired. Your good credit history can be instrumental in helping you get the job you want.

Banking

Banks provides perks to those with higher credit score.

Most banks will look at your credit history when you apply to open a checking account. A customer with a positive credit history is much less likely to incur fees. In the event that the customer does accrue fees, the bank feels secure that those fees will be paid promptly. A credit report that contains a history of defaulted debts shows a bank that the a person is irresponsible with money and a financial risk. When you apply to get financing through a bank or credit union, you are likely to be turned down if your credit history and credit score don’t meet the bank’s standards. Keeping a good credit history ensures that you can obtain financing for a home or car.”

Yet More Good Credit Score Benefits – The Benefits of a Good Credit Score Go On and On …

You may feel like I’m beating a dead horse here but it’s amazing to me how many people don’t take their credit score seriously and I believe it’s partly because many don’t realize how far reaching the effects are on their life to either extreme depending on how they treat it.

I hope these past few posts have lit a fire under you especially after today reading about YET MORE good credit score benefits…

Click here now to get on the road to yet more good credit score benefits of your own…

Still More Good Credit Score Benefits – Your Rewards for a Great Credit Score

Posted on March 28, 2012 by Steven Greenwald

Still More Good Credit Score Benefits – Your Rewards for a Great Credit Score

Yes… you guessed it… STILL more good credit score benefits…

This past week I have put up 3 other posts outlining the many good credit score benefits available to those who exercise the necessary personal finance strategies to develop an excellent credit score.

An awesome credit score is no easy task that takes time, discipline and commitment to achieve but if you look at my past posts on the subject and now see there are still more good credit score benefits you will soon have the motivation necessary to go down that path.

Today while snooping around I found an article on Credit.About.com showing there are still more good credit score benefits for me to pass on to you.

A great credit score benefit is better auto insurance rates...

“Better car insurance rates.

Add auto insurers to the list of companies that use a bad credit score against you. Insurance companies say that people with bad credit tend to file more claims and these people are penalized with a higher insurance premium. With a good credit score, you’ll pay less for insurance than similar applicants with lower credit scores.

Get a cell phone on contract with no security deposit.

Get better cell phone contract options with a strong credit score.

Another drawback of having a bad credit score is that cell phone service providers may not give you a contract. Instead, you’ll have to choose one of those pay-as-you-go plans that have the more expensive phones. People with good credit avoid paying a security deposit and can get hundred-dollar discounts on the latest phones by signing a contract.

Avoid security deposits on utilities.

Avoid having to plunk down ridiculous utility deposits with a higher credit score.

These deposits are sometimes $100 to $200 and a huge inconvenience when you’re relocating. You may not be planning to move soon, but a natural disaster or other unforeseen circumstance could change your plans. A good credit score means you won’t have to pay a security deposit when you establish utility service in your name or to transfer service to another location.”

Still More Good Credit Score Benefits – The List Goes On and On…

As you can see there is great incentive beyond good credit terms, ease of obtaining credit and lower interest rates for improving your credit score.

Now that I managed to come up with still more good credit score benefits, have you seen enough to make the move towards achieving improving you credit score and achieving your financial goals and dreams?

Click here to get your free credit score and claim your good credit score benefits.

Even More Good Credit Score Benefits – Credit Card Rewards, Miles and Points

Posted on March 27, 2012 by Steven Greenwald

Even More Good Credit Score Benefits – Credit Card Rewards, Miles and Points

Everybody likes a little extra so I’m offering even more good credit score benefits by way of extra credit card rewards, points and air miles.

Many credit card companies in an effort to get people to use their plastic for purchases more often are offering bonus credit card rewards but often with some catches.

Huffingtonpost reveals some of the “even more good credit score benefits” to be had along with a few of the stipulations…

“Capital One Venture Rewards Card is the top-ranked travel reward card according to consumer comparison site NextAdvisor.com. It offers $2 flight and hotel redemption value for every $100 spent. The catch? You must spend $1,000 in the first 90 days of having the card and has a annual fee of $59 after the first year.

The Citi Thank You Premier card offers between 50,000 and 80,000 points as an initial bonus reward–a value of $665 to $1,060 in airfare value–but only after spending $2,000 in the first three months.

And for some bread-and-butter credit card holders, seeing these rewards is like standing outside a restaurant window and watching the rich eat steak. To even get in the door for most of these exclusive reward clubs, consumers have to have a minimum credit score of 720, according to the Journal. And for customers who do qualify, easy credit and rewards only work in one case: when you pay off your bill each month and do not carryover an interest-bearing balance.”

Even More Good Credit Score Benefits… The Fine Print

In today’s tight economy everyone is trying new things to drum up new or more business but many companies are using caution to protect themselves and are mostly targeting those they feel they can trust.

This is another reason to begin today working on strengthening your credit score.

Because as you can see there really are even more good credit score benefits available to those who do the work of handling their money and credit responsibly.

What Credit Score is Needed to Buy a Home? Is Your Credit Score Good Enough?

Posted on March 21, 2012 by Steven Greenwald

What Credit Score is Needed to Buy a Home? Is Your Credit Score Good Enough?

What credit score is needed to buy a home?

You would probably be surprised how often this question is asked.

If you asked the same question 5-7 years ago the answer would have been completely different but in today’s economy the answer to what credit score is needed to buy a home is not nearly as cut and dry.

According to the Home Buying Institute:

In January 2012, the Home Buying Institute began to survey mortgage lenders in the United States regarding their qualification criteria. One of the questions asked had to do with credit. Lenders were asked what score a borrower might need to get approved for an FHA loan and a conventional home loan. Most lenders required a 600 or above for FHA, and a 640 or above for conventional. Some of the lenders surveyed said they would work with borrowers below these levels, if they had other “offsetting factors” such as a large down payment and/or very little debt.
(Source: Brandon Cornett, Home Buying Institute, 2/4/12)

What Credit Score is Needed to Buy a Home in 2012?

As mentioned above a mere few years back it didn’t take much more than a job to get a mortgage but times of changed and although the research shows 600 to 640 is what credit score is needed to buy a home in 2012 lenders are careful to say they will look at each application as it comes even if the scores are lower than what is mentioned in this article.

If your credit score is lower than 600 don’t assume you can’t get a mortgage to buy a home… there are many other factors lenders look at so shop around and see what is available.

In the meantime continue following the credit score tips on this blog to steadily increase your credit score overtime… eventually you will not need to worry what credit score is needed to buy a home as your score will be high enough for you to pick and choose your lenders and not the other way around.

Click here to get your free credit score now and if you know anyone else wondering what credit score is needed to buy a home in 2012 please pass on this article to them.

More Good Credit Score Benefits – Rewards of Good Credit

Posted on March 16, 2012 by Steven Greenwald

More Good Credit Score Benefits – Rewards of Good Credit

The other day I wrote a post about Good Credit Score Benefits and it was such a hit I thought I better do another post with some more rewards of good credit.

The topic of how to get a good credit score can often be a boring one both to write and to read so it’s fun to spend some time talking about the good credit score benefits and how they will positively transform ones financial life.

Today I came across an article written by Sabah Karimi, a writer for WiseBread who had some Good Credit Score Benefits of his own I wanted to share with you:

1. Increased credit card limits. Your borrowing capacity can increase significantly when you prove to creditors that you’re a responsible credit card holder and can handle more credit…

2. Attractive mortgage and refinancing rates. Lenders are more likely to extend an attractive rate for your home loan when you have a high credit score and clean credit history…

3. Lower financing rates on a car lease. If you’re in the market for a new car and are thinking of leasing instead of buying, you might have some bargaining power when you flaunt your high credit score…

4. Easy vacation home rental reservations. Planning an extended stay vacation and looking for a rental home? Talk to the rental agency about waiving fees or negotiate lower rates based on your credit history…

5. Excellent credit card deals. Credit-savvy consumers know that it pays to use reward credit cards as long as they pay off the balance each month…

6. More negotiating power. If you’re applying for a personal loan from a corporate bank or a private loan from a privately held financial institution, having a high credit score could give you more negotiating power…

More Good Credit Score Benefits – Rewards of Good Credit

Those are some awesome “good credit score benefits” to keep in mind.

The term “snowball” comes to mind when I think of good credit score benefits… the longer your credit score remains high the more the benefits snowball to where you start seeing advantages you never would have imagined would come with the package.

Start building your credit score today so you can also reap the good credit score benefits mentioned and the many others left as a pleasant surprise… Get your credit score today.

Good Credit Score Benefits – How Good Credit Helps You

Posted on March 12, 2012 by Steven Greenwald

Good Credit Score Benefits – How Good Credit Helps You

Good credit score benefits are numerous so today I wanted to paint a picture of some of the most common ways good credit helps you.

Good Credit Score Benefits – Your Credit Score and a Car Loan

Good Credit Score Benefits - Your Credit Score and a Car Loan One of the more appealing good credit score benefits is the difference between what car payment loan you can afford with a good credit score and the one you can afford with a “not so good” credit score…

Good Credit Score Benefits - Your Credit Score and a Car Loan Because lenders will adjust the car loan interest rate they offer based on the strength of your credit score.

It really isn’t much of an exaggeration that you potentially could pay the same car payment each month for the car represented on top or the one on the bottom.

Good Credit Score Benefits – Your Credit Score and a House Mortgage Payment

Good Credit Score Benefits - Your Credit Score and a House Mortgage Payment Much the same as the car loan payment above another of the many good credit score benefits is the ability to not only qualify for a home mortgage but to also receive a low interest rate potentially saving you hundreds or more per month on your mortgage payment.

Good Credit Score Benefits - Your Credit Score and a House Mortgage Payment Why pay hundreds of dollars extra per month on higher interest rates when you can get the most bang for your buck when you learn to reap the good credit score benefits available to all of us? You can save tens of thousands over the life of your mortgage with a good credit score.

Good Credit Score Benefits – Your Credit Score and Credit Card Interest Rates

Credit card debt can be a killer or credit cards can be a useful tool to help you arrive safely at your financial goals and dreams. Another of the good credit score benefits is being able to obtain credit cards with a reasonable interest rate. The variable between high and low is staggering.

Good Credit Score Benefits - Your Credit Score and Credit Card Interest Rates

Credit card companies not only grant lower rates to their preferred clients with lower credit scores but they can also be more lenient with them if they need to defer a payment on occasion. Get out of the high interest trap by improving your credit score starting today.

The 3 examples mentioned above are only a few of the many good credit score benefits available to those who responsibly obtain and manage credit. Get your credit score today and begin moving towards the countless benefits of the lifestyles represented above.

Credit Score Drop? Emotional Money Baggage to Blame?

Posted on March 7, 2012 by Steven Greenwald

Credit Score Drop? Emotional Money Baggage to Blame?

Have you recently had a credit score drop? If so, has it been combined with other financial setbacks?

Sometimes a credit score drop is an isolated event due to unforeseen events or adverse circumstances however sometimes a credit score drop is a symptom of an underlying negative belief about money or emotional money baggage due to any number of events in ones past.

Credit Score Drop and Money Beliefs

I am not a therapist but it is amazing to me how many people express feelings of shame, guilt, fear, anxiety and other strong emotions relating to their view of money and debt (and a credit score drop).

Money, wealth, assets and possessions are often viewed as a marker of success and is often used as a means to make ourselves feel better when we are down. On the flip side it can also cause us to feel like a failure if we believe we don’t have enough or as much as we’d like.

A credit score drop can easily be attributed to an unhealthy fear of money, the lack of it or an overly strong need to feel successful through your possessions or caliber of lifestyle.

This isn’t a typical “why did my credit score drop” post but I felt if I make you aware of a buried negative emotion it may be your first step to dealing with it and being free to fully embrace the financial goals and dreams you desire.

If you recently had a credit score drop take some time to explore your inner world for any clues.

Satisfied With Your Credit Score? Improve Your Credit Score Now.

Posted on February 26, 2012 by Steven Greenwald

Satisfied With Your Credit Score? Improve Your Credit Score Now.

Who of you reading this post is satisfied with your credit score?

If you are can you please contact me and tell me your secret?

“I’ve felt that dissatisfaction is the basis of progress. When we become satisfied in business, we become obsolete.”

– J. Willard Marriott Sr., hotel executive

A credit score is not a set and forget type of thing… it is always moving up (hopefully) and sometimes down (hopefully not)… so to be satisfied with your credit score takes consistent wise financial practices and a dedication to the same.

As in the quote above, dissatisfaction in this instance is a positive thing as it can spur you onto a continual improvement of your credit score.

If you are satisfied with your credit score you may be walking on dangerous ground unless of course you are in the elite few percent of those with an 850 credit score….

Considering the small amount of work and dedication required to improve your credit score compared with the far reaching benefits of achieving a higher credit score one has to ask the hard question of why they would be complacent in this matter.

Still Satisfied With Your Credit Score?

Do you enjoy all these benefits?

You choose which lender you want to loan from?
You are always offered the lowest possible interest rate?
Your lender offers free perks for lending from them?
Your kids go to the best colleges?
You are never charged deposits for new utility accounts?
You are short listed easily when applying for new jobs?
You are quickly accepted for high end rental properties?
You qualify easily for small business loans?
You get the lowest insurance rates
You have the lowest interest rates on credit cards?

Now there should be SOME motivation in the list above if you are in the “satisfied with your credit score” mode.

If you are satisfied with your credit score step out of the rut today and improve your credit score now.

Better Your Credit Score

Posted on February 22, 2012 by Steven Greenwald

Better Your Credit Score

“Discipline is the bridge between goals and accomplishment.”
— Jim Rohn: was an American entrepreneur, author
and motivational speaker

Better your credit score with discipline? Yah I know it’s ANOTHER one of those posts.

Although I know I do a high percentage of posts with more of a motivational flair than actual step by step tips on how to better your credit score feel… no actually… I know… without discipline, dedication and long lasting resolve, all the tips in the world will not do you any good.

The actual technique to better your credit score is quite basic and you can find numerous posts within my blog going into great detail on this subject.

The discipline between your financial goals and financial success is a bit more twisty.

Many people have a garage full of great power tools collecting dust…

The trick is to motivate a person to use them.

What has worked for you in the past? What areas of your life do you achieve success easily?

Analyze where you have had past success and try to determine how you motivated yourself? What did you do to get through the tough times? How did you reward yourself for attaining goals?

Now take this same approach and apply it to help you better your credit score.

Logically, discipline is simply a matter of choice, but we all can be stubborn, resist and sometimes are illogical about matters for a variety of reasons and this is why it’s important to know yourself and what works for you in these situations.

If you were to better your credit score over the next year you would still require the discipline to maintain those financial habits in order to keep your score high over the long term so discipline is required not only to better your credit score but also to maintain it.

Dig deep to connect with the dreaded “D” word on your way to better your credit score and to attain your financial goals and dreams.

Will Your Credit Score Be Affected by the Global Payments Hack?

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Yet More Good Credit Score Benefits – Perks for a Great Credit Score

Banking

Yet More Good Credit Score Benefits – The Benefits of a Good Credit Score Go On and On …

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Still More Good Credit Score Benefits – Your Rewards for a Great Credit Score

Get a cell phone on contract with no security deposit.

Avoid security deposits on utilities.

Still More Good Credit Score Benefits – The List Goes On and On…

Recommended Reading

Even More Good Credit Score Benefits – Credit Card Rewards, Miles and Points

Even More Good Credit Score Benefits… The Fine Print

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What Credit Score is Needed to Buy a Home? Is Your Credit Score Good Enough?

What Credit Score is Needed to Buy a Home in 2012?

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More Good Credit Score Benefits – Rewards of Good Credit

More Good Credit Score Benefits – Rewards of Good Credit

Those are some awesome “good credit score benefits” to keep in mind.

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Good Credit Score Benefits – How Good Credit Helps You

Good Credit Score Benefits – Your Credit Score and a Car Loan

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Credit Score Drop? Emotional Money Baggage to Blame?

Credit Score Drop and Money Beliefs

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Satisfied With Your Credit Score? Improve Your Credit Score Now.

Still Satisfied With Your Credit Score?

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Better Your Credit Score

Now take this same approach and apply it to help you better your credit score.

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