Report Credit Card Fraud

How to Report Credit Card Fraud?

Credit card fraud is something quite common to see nowadays. If someone is using your credit card without your consent, then it’s credit card fraud. While we all wish that we stay away from such troublesome, but still, we just can’t be sure what future has got for us. Any of us can face this problem. You must know how to come out of it. You must have the knowledge about how to report credit card fraud. This post will tell you all about latter.

Report Credit Card Fraud

File identity theft report with your local Police Station

The very first step is to inform credit card company about the fraud. Since they will take your complaint only after you are done filing report with police station, so you must first file identity theft report. You should give as much info as you can give. Copies of credit card statement, other documentation are also what you may need to provide while filing identity theft report.

Call the credit card issuer and Cancel the Card

Go to the website of credit card issuer and find out the number to contact them. You should do it as soon as possible and should cancel the card. If you don’t have access to the Internet, you can find out the contact number of issuer from the documents that you got with credit card.

Maximum liability for the Fraudulent Charges

The next step is to find out the maximum liability for the fraudulent charges. Under federal law, if someone uses your card before your report it’s theft, maximum liability for fraudulent charges is $50.

Carefully Note Down Verbal Correspondence with the Credit Card Company

One intelligent step when you are in the said trouble, is to note down all verbal correspondence with the credit card company. You should note down the date, should note down whom you talked to, when you talked etc. You should also report and investigate the process and should  contact credit card company for the timely updates regarding this matter.

Compose a letter to the credit card issuer

The next step is to compose a letter to credit card issuer. The letter should include the date you firstly reported the fraud. You should attach copies of  police report, the complaint form from the FTC website, and other required documents as well. Just find out the “billing errors” address of the credit card issuer, and then compose letter in no time.

Request a written statement from the card issuer

After you are done with all previous steps, just request a written statement from the card issuer.

File a fraud alert with the three credit bureaus

This initial 90-day alert is quite important. It stops the person who is misusing your credit card, from doing so.

Apply for Online Loan

Things You Need When You Apply for Online Loan

Are you in need of money to buy something new, and are looking forward to get a loan for it? Are you planning to apply for online loan? If that’s so, then you must keep reading this article to know the things you need when you apply for online loan. Knowing those things can help you get ready for loan’s approval, otherwise you may need to face frustration caused by disapproval.

Apply for Online Loan

Your personal information

The information that can identify you in general way is what you must have with you. The basic information you need to have is your name, phone number, address etc. Of course, to have such info, you don’t need to do any kind of preparation at all. Since loan company is surely going to ask you your personal info, so make sure you have it with you.

Official identification numbers

You will also need to provide official identification numbers provided by government. These are required to prove your identity, to prove that you are actually the person that you are claiming to be. If you provide minimal information about you, chances are high that you would end up getting your loan request denied. In just the case you don’t have your official identification numbers, you should look for them in your ID card. One thing you must understand is that you should clear yourself, your identity while applying for online loan. Since there is lot of fraud happening in it everyday, so things are always taken with suspicion. Make sure you bypass that suspicion with your genuine details.

Your income details

Needless to tell you that the amount you get in loan is all dependent on your income details. The loan issuer must ensure if you will be able to return the amount, and for deciding that, income details is big factor. Your income details are what you need to have with you before you apply for online loan. Of course, playing the game of numbers is not gonna help you in any way. You will require to prove your income via required documents. After providing the income details, they will be thoroughly checked and verified by the money lender. This is nothing strange. The money lender must be satisfied that you will be able to return the amount along with interest on time.

Your outstanding debt

In just the case you have any outstanding debt, you should be ready with details of the same. The lender must be informed about your previous debt. This will help the new lender know the effective income of yours. With that, money lender can decide if you are worth the loan that you are seeking. If everything goes in your favor, there is no hurdle that can come in your and your intended loan’s way.

Free Annual Credit Report

How to Get Your Free Annual Credit Report

If you have been using credit card for quite some time now, then you must be knowing what is the use and importance of annual credit report. Those who don’t know, just need to spend a few minutes scrolling the pages of web to collect useful info. Annual Credit report is something quite easy to get, and of course, as the name goes, it’s nothing but annual report of your credit card. If you want to monitor it properly, make sure you always get the annual credit report. For this, there are different free ways that you can opt for.

Free Annual Credit Report

Before I tell you the ways, let me tell that the annual credit report used to cost around $9.50 each a long time ago. But after passage of the 2003 Fair and Accurate Credit Transactions Act, these reports are made free. Equifax, TransUnion and Experian are the branches that provide the copy of annual credit report for free, on getting request for the same.

Below are the best ways about how to get your free annual credit report.

Online

The most convenient way to get annual credit report is getting it online. You don’t need to step out at all, just a few clicks and you will have copy of your report in no time. The process is quite simple. You just need to head over to www.annualcreditreport.com to access annual credit report online for free. This is the only authorized source available for now. There are many websites with their web address matching this one. Make sure you don’t fall in any online trap. Anyway, after going to the website, you just need to complete the steps that the sites requires you to do, so as to get the free annual credit report.

Don’t Miss: How do Credit Cards Work?

By Phone

If you don’t want to get the annual credit report online due to one reason or another, then you can have it by phone. You just need to call (877) 322-8228 to get the copy of annual credit report. This method is nothing less than a boon for all those of you who are not internet-savvy.

By Mail

On the website mentioned earlier, there lies form that you can fill and submit anytime you want to. After doing so, you just need to mail it to Annual Credit Report Request Service, P.O. Box 105281, Atlanta, GA, 30348-5281. You can order all three reports at once. Make sure you order the report from centralized agency. In just the case you go to credit reporting agencies, you will not be able to have free report, but charged one only.

That’s it. These are the ways you can opt for to get free annual credit report. Just opt for the one that suits you the most. In case you need any further help, do hit the below comment section.

Stripe on a Credit Card

How do Credit Cards Work?

In the current era of evolution, the credit card has become the best way to deal with payments, shopping, cash related needs. Most of you reading this post must be having credit card with you. You all know how to use it, but how many of you how do credit cards work? It’s good to have knowledge about working of credit cards. This post will tell you all about how credit cards work.

Meaning of Credit Card Numbers

First things first, you must know the meaning of credit card numbers. Just to tell you, ANSI Standard X4.13-1983 is the format used by most of credit cards. System is signified by the very first number. Here what the first number means:

  • 3 – travel/entertainment cards (such as American Express and Diners Club)
  • 4 – Visa
  • 5 – MasterCard
  • 6 – Discover Card

Of course, as the system changes, the structure of number changes too.

Stripe on a Credit Card

Stripe on a Credit Card

There exists magnetic stripe on the back of card. Magnetic particles in a plastic-like film are used to make that stripe. A magstripe reader is used to read the information hidden behind it. If ATM is not accepting your card, then there are two possible reasons behind it. First is dirty or scratched magstripe and the second one is erased magstripe.

Don’t Miss: WHAT YOU SHOULD UNDERSTAND WHEN USING YOUR CREDIT CARD

Smart Cards

We just talked about the authentication in credit card system. In smart cards, along with that, cryptography is included. There exists microprocessor in the smart card. For the functioning of these smart cards, Cryptography is highly essential. This is what provides security to the card and makes sure that no one else other than credit card holder uses the card.

Safety of Credit Card

Consumers have always the fear while using credit card for making payments online. They are always concerned about the safety of credit card, which is something quite likely to happen. Although the companies claim of providing high-end security to consumers, still everyday we hear the credit card fraud complaints. This is big concern for both credit card companies and cyber merchant. Credit card companies always keep working on taking the safety of credit card to higher end.

Credit Card Applications

Let’s now talk about the terms that you will go through when applying for credit card applications.

Annual Fees, Finance Charge, Grace Period, Annual Percentage Rate, Fixed Rate, Variable Rate, Introductory rate.

The terms while applying for credit card applications may send you into the clouds of confusion, so before you opt for it, make sure to do deep research.

Credit Rating

There are many factors involved in calculating credit rating. You can know about them by doing simple research for the credit card you are looking forward to have. While collecting info about credit rating, you should collect info about types of credit card as well.

Credit Card

What you Should Understand When Using Your Credit Card

The credit card has become important part of daily life nowadays. The credit companies are doing their best to improve their customer base. If you are going to have credit card, then you must read out this article, as it comes the things you should understand when using your credit card.

Credit Card

Credit Card isn’t a Cash Substitute 

Credit card is pretty easy to use. Just matter of few minutes and you can have cash in your hand. With that, it’s quite common to get the feeling as if credit card is cash substitute. If you get that feeling, and start using it as cash substitute, then let me tell you, sooner or later, you will fall in credit trouble.

Good Credit is Important to Have

Good credit is important thing to have. Sadly, many people who use credit card do not know the importance of good credit. If you are out of them, let me tell you that you need good credit for buying or renting home, getting new job, getting things on installments, getting other services etc. So, when using credit card, you must understand the importance of good credit.

Good Credit Takes Time to Happen

By now you know the importance of good credit. Just to tell you here, good credit does not happen in short time. It’s lengthy process and takes time to happen. So you must be patient for it. With good credit you can have low interest rate money with ease. So, you must know the things it take to get a good credit.

Debt can Happen to Anyone

Debt is something that can happen to anyone. Too much debt is not only bad for your mental health, but also can show its bad impact on many other things. If you get too much debt, then your profile will look bad for future money lenders. Who knows you may be in need of money in near future? Poor profile will result that you won’t get debt from the future lenders easily. Poor financial decisions are what cause the debt. If you want to stay away from that awkward situation, you must take financial decisions with patience and deep thinking.

Ask for Low Interest Rate

If interest rates are high, your credit will become expensive for sure. Such a credit will be nothing less than a burden for you. If you have good payment history, and good credit score, you are always free to ask for low interest rate. That can help you pay back the debt amount with ease.

Well, credit card can work out as boon or curse depending on how you use it. Many people make it curse just because they don’t know how to use it. If this is the same with you, then credit card is not meant for you.

Benefits of a Saving Account for Your Child

I know only new age parents think its important to open an account for their child. But every relative, friend, colleague should support this effort. And this lets your babies to become responsible. Rather than saving it for the child’s future, let your child grow up with a sense of responsibility.

Such savings may have some restrictions. Some banks have the rule of a minimum years of age. Some banks allow majors to open an account in the name of a minor. Most of the parents will observe that it is easy for them to open a minor’s account for having a pre-existing relationship.

Saving might be a good option but it is hard. This brings in a sense of saving in your child. Taking your child on a tour of the bank and showing them how a bank works may be an experience worth  the while. Once they see it they would  realize that the money is being taken care of and the bank would continue to take care of it till they are old enough. You can teach your child how to track the balance of their account or you can track it down and show it to them. This way they would get a feeling of security.

It is a work of patience but it would pay off. Your child would grow up to be financially concerned and independent person.

Type of account you can open for your child

Managing funds

The savings account has a lot of facilities. Like you can carry many transactions at the same time. Let your kid go and deposit or withdraw money from his own account. By this your kid would know the amount he/she is spending. Hence at a very tender age your kid would start saving.

Invest to earn more

At every investment you get an amount of interest which is again deposited in the account. The more the investment the better the interest. Let your kid deposit the money which he/she earns doing small works. The interest would obviously be low. But as your child grows, the earning would increase as well as the expenditure. This would make him learn to deposit higher amount to get higher interest.

Protecting the future

What is more better than starting an account for your child at a young age? The child would be more responsible, would have a sense of financial concern, would save and would try earning and saving at a very young age.

16 Things To Do With The Pile of Coins

Even though a lot of people consider loose coins as a trouble, They are 100% valid form of currency. They can be used validly here and there to have some fun when you are running short on money. Breaking all the misconceptions about loose coins, here are seven things you can do with the pile of coins you have in your pocket right now.

  1. Surprise your loved one and take them to the nearest local ice cream parlor for an ice cream date. You will be surprised by the amount of ice cream you get for those quarters and dimes.
  2. Visit a local garden and find yourself a viewfinder binocular. They don’t cost more than a dollar! Enjoy the sunrise, sunset or just go bird watching.
  3. Find a wish fountain. Throw in a coin and make a wish. Keep it in mind that you don’t tell anybody your wish, it wont come true otherwise! This is the cheapest and the best thing. If I would be there, I would have wished for a bag full of loose coins.
  4. If you want to thanks someone, there is no better way than vacuuming their car for them. This hardly costs a dollar and quarters. Your friend would thank you for it.
  5. Buy a tinned can of cold juice. The machine trades your dollar for that fantastic juice.
  6. Exchange your coins for a cup of Java.
  7. Exchange it for 100 pennies. You can make 100 wishes which would all come true if you don’t tell anybody what you wished for.
  8. If you want to make it all the more special and worth the while, get 30 seconds of high resolution web chat time.
  9. You can buy a new razor every month!
  10. You can buy a slice of pizza if you are in the city of New York for a dollar.
  11. If you are hungry treat yourself to a junior cheeseburger deluxe at Wendy’s for a dollar.
  12. You can also feed a starving family in India if you have a dollar.
  13. You get a spiral bind book for a dollar at a stationery shop.
  14. One dollar can fetch you the yummiest pickle from the farmer’s market.
  15. If you feel like reading, a dollar would cost a dollar each e-book you buy!
  16. You can also buy an i-tune on your phone for a dollar.

8 Ways to Reduce an Accountant’s cost

A good accountant should be able to save your money. Do some help combined with smart work. This would decrease the stress regarding book keeping and accounting.

  1. Get all the information to your accountant 6 weeks before the due date. As it is pretty much difficult to guess how much tax has to be paid. You should give your accountant a good amount of time to work. You don’t want him to get stressed. Of course he should be in a jolly mood when he is preparing your bills.
  2. Prepare a list of revenues and expenses. It will save both of your times. See to it that the revenues and expenses are added and totaled. Basically, you need to do the book keeping.
  3. Always total the revenues and expenses at the bottom. By doing so your accountant would be able to read the total easily. If you don’t do it, your accountant would be fixing errors and charging you extra money.
  4. Always double check. If the expenses are missing the accountant would start noticing the errors and also correct them. The more time he takes, the more he charges.
  5. Be available for questions any time of the day. If any file is missing take a minute out of your busy schedule and talk to your accountant. Your accountant tends to work on many files at a time. If you don’t respond to his calls in a time of emergency, your files would be thrown last in the queue gain. This would take a lot of time and money.
  6. Improve your housekeeping skills and get prepared for your audit well before time. Prepare an account table with all the keys and formulae written. Keep all the receipts, pass book, etc related to your transactios during an audit.
  7. You should look if your accountant is a person who would like you to be honest and open about your accounts. Are they artistic and innovative or do they react on small things. You’re accountant should fit for the character you imagine him to be.
  8. Keep yourself focused. If the accountant is at your place keep the social and personal chatter to the minimum. If the accountant takes you out for lunch, take the initiative of paying. Go to their office and keep your calls very minimum.

If you follow all these things, you would end up paying very little to your accountant and your work would be done.

4 Retirement Planning Mistakes that you must avoid

When you are in your mid 30s the ghost of retirement starts haunting you. You feel unplanned and unprepared. Hence, you hire a financial planner to know as to when you can retire.

The biggest confusion with these people is they want to live almost the same life as they live before retirement when they retire. These are some simple and avoidable mistakes that doesn’t allow people to retire at the “right time”. But if you plan things properly, you can out of these dilemmas and anxiety in no time.

STEP 1: Don’t live too large. When asked to people that “how much income do they need to live the life according to them” many of them say that they don’t know or they are confused. And many of them also say that they expect too high an amount, they are in deep soup. And even if you say it’s a less amount, your goal of retirement is unattainable.

You have to figure out the amount. It cant be this OR that. It should be fixed. In the initial stage every retiree spends his/her time in food, entertainment and travel. In the later years though the amount is spent on their health care.

STEP 2: There should be an estimated amount that would be used for your health care later. So be sure that you retire at a time when you have money for this and you also have money to live your life better.

Many people sign for medicare so that it would take care of the health care expenses, but it doesn’t really work that way.

STEP 3: You should have a clear picture about yourself in a long run. You should make long term expenses plans and get done with it. You must plan it in such a way that you don’t live your retirement in dire straits.

STEP 4: Save enough money now and also later. Don’t wait to save. The quicker you start the easier it is to attain your retirement goals.

Plan a Small Business

5 Business tips to Plan a Small Business

Business is a process of gaining success and good introduction of their product. For achieving the success we need to establish a good plan and road map to achieve the goal. Business plan is all about planning the functions of your business and the process of making it successful. Business finance plan is maintained and followed all through to run the business. They can be printed only if required and can be stored for reference.

Plan a Small Business

Here are five business planning tips to start small business:

  1. The first tip to plan for you business involves researching about similar kind of business and their plans. Though you won’t find similar kind of business plan as all businesses and their plans are unique. But you will be able to understand what your business actually need and how to execute it successfully.
  2. Refer the samples of business plan that can give you the outline of hoe to plan and follow. Take advantage of already created samples that gives you a way to initiate your plan. It can give you new ideas and inspiration of executing your business in a unique and successful manner.
  3. Be specific about your business plan and write the write plan according to your specific business. Analyse clearly what your business require and write the plan accurately instead of simple copying form the samples. Originality will be appreciated by the lenders and keep you away from the regular and repeated plans. Explaining your own view and ideas of executing business precisely will help the lenders value you and your goal.
  4. Business plan explains the successful steps to run your business it should have all the solutions for various queries raised in executing a business process. It should show how it can face the growing market and competition, how the team management works, and what business strategy it will follow.
  5. Make good use of the plans once you have completed it. Don’t just keep it as parts of business instead implement it in every step of business process. Make use of the plans you designed to grow your business and achieve your goal. You can compare your plan with the current level of business which will help you get clear idea of how much you need to invest and your profit rate. You can assure whether you are in correct path of success and see what changes you need to do if you are not in corrects path.

Thus you should keep in mind that planning to start any kind of business is very important to achieve your goal. The business plan must have clean and clear point don’t mess it with unnecessary things and words.