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Miscellaneous - "Words to the Wise"
1. Safeguard
your credit cards and credit card account numbers. Never give your
credit card number to anyone who is soliciting you. If you have contacted a
reputable company, and wish to use your card to pay for goods or services, you may need to
give them your card number by mail or phone. Companies or individuals soliciting you
may not be what or who they claim to be, and we strongly recommend you do not give them
your card numbers. 2. Safeguard your checks and checking account numbers.
Never give your checking account number to anyone except in a bonafide financial
transaction such as a loan application. Never give your checking account number to
someone who is soliciting you, particularly over the phone.
3. Do not pay up-front
fees in hopes of obtaining a loan or a credit card. An exception to
the rule is a mortgage loan application which usually requires payment for an appraisal
and a credit report. Compare rates, fees and service before committing to a
particular mortgage company -- see the Mortage Loan Tips section
of this web site for more suggestions. Popular loan scams ask you to send a fee
promising a loan or credit card even if your credit is bad. Be especially cautious
if they ask you to wire money, or send it to an out-of-state address. Some
advanced-fee schemes actually provide a service, such as sending you a list of banks
offering secured credit cards, but that service is usually of little or no worth.
4. Be cautious of credit
repair services which claim to be able to fix bad credit. If you
have inaccurate information on your credit report, you may contact the credit bureaus
directly and dispute it yourself. If you have had recent credit problems, anything a
credit repair service does to remove the related information from your record is very
likely illegal, and only temporary. You may obtain a copy of your own credit report
by contacting the credit bureau.
5. Never
sign blank or incomplete documents, or any documents you don't understand.
Take time to read and understand documents you are asked to sign. Don't rely
on what someone tells you.
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