Eastern Finance

General Tips To Protect Against Credit Card Fraud

2009-05-08T07:07:00.000-07:00

Credit cards, though an easy way to have access to money without carrying around a lot of cash can become a big liability if not used prudently and carefully. Ensure that you use the card responsibly.

Also, never take the safety of your credit cards for granted. You have to exercise some common sense and vigilance to prevent credit card fraud.

Here are some general tips to follow:

1. Ensure your new credit card is in sealed condition and that the seal is not tampered with.

2. Sign on the back of your new card as soon as you receive it.

3. Monitor your account regularly either on the Internet or from call centers. Also subscribe to e-mail and mobile alerts to keep track of card usage.

4. Memorize your card's PIN number.

5. Destroy and dispose all documents that mention the card number, such as copies of receipts, airline tickets, travel itineraries, etc.

6. Personal account information should never be shared with anyone unless payment for the purchase is being done from that account.

7. Another important thing is keeping any useful information such as card number, expiry date, CVV number, and pin number, etc of your cards handy.

8. However, that does not mean that you keep the information in places where it is easily accessible. Protect your card information as you would protect your money.

9. Finally, always stay at least 40 per cent below your credit limit and review your account information either online or through the credit card company's call center frequently. This will help you identify any suspicious transactions immediately.

Galore Of Digital Products At Shopwiki

2009-04-29T05:04:00.000-07:00

Shopwiki is a fantastic site. I was looking for a new laptop and Shopwiki should be my first stop if I want to save money. To be frank, I took a while to browse the site because they have so many products and I am constantly distracted and tempted to buy.

The site has a very clean and user-friendly interface, unlike most online shops. It functions more like a search engine. You get to search for a particular product, for example computers, keyboards or laptops and you’ll be show a list of products with different prices and different online shop.

This is a boon for consumers as they can compare the various options before placing orders. I like the fact that I can learn and evaluate each product before purchasing.

Just imagine asking a sales representative in a retail store for the following info when picking a laptop: buying guide, list of recommended products, top picks products, tips on how to get the best, pros and cons and other info to help me get the right laptop.

I doubt they will entertain you but all these info are freely available at your fingertips when you visit Shopwiki. If you are interested in buying any digital products, hop over to Shopwiki.

Beware Of Debt Reduction Scams

2009-04-25T07:24:00.000-07:00

These schemes promise to reduce a consumer’s debt 50% or more by enrollment in a debt negotiation program. Con artists convince victims that creditors will cease pursuing repayment.

In fact, collection efforts not only do not stop; they often become more relentless. In reality, these plans seldom if ever lessen debts, and they often inflict severe harm on borrowers, sometimes forcing them to file for bankruptcy.

How the scam works:

Credit “counselors” claim they have unique alliances with creditors, and will use these special relationships to negotiate debt for a fraction of the amount originally owed.

Debtors are told to suspend making regular payments, and instead to send funds to the debt management firm—often a for-profit firm posing as a friendly non-profit organization—that claims it will deposit the money into a “trust” account dedicated to paying creditors.

Counselors promise they will use their clout to halt annoying calls and letters from creditors. Debtors are thus duped into believing the advisors are applying the trust account funds to pay their now-reduced outstanding debts.

In reality, the counselors first divert hundreds of dollars as fees, which they do not always disclose. Consumer payments are neither applied to the trust accounts nor sent to creditors, until these fees are paid in full.

Consequently, creditors often receive nothing for months and pile on late fees and penalties and may boost interest rates. Many borrowers are shocked to discover that their debts actually increase after enrolling in these programs. Often, unpaid creditors pursue collection more vigorously, and may sue debtors who have defaulted.

Desperado Struggling With Credit Cards

2009-04-15T06:37:00.000-07:00

This is a really desperate credit card story.

Laurie Redmond thought she was making a smart decision when she quit her job in 2005 to become a mortgage broker. Her company, a large bank, had recently been bought out, and layoffs were imminent. Rather than compete with hundreds of other job seekers in the same profession.

Until then, Redmond, of Wilmington, Del., had been prudent with money. A single mother, she earned a good salary and spent less than she made. Her savings included several CDs and a money-market account totaling about $7,000; a $2,500 savings bond for her toddler, Cindy; and another $7,000 in a 401(k). She paid off the balance on her two credit cards faithfully every month.

The new job, which was based entirely on commissions, was "the biggest financial mistake of my life," she says. Over the next 12 months, as home sales and mortgage lending were beginning to plateau, Redmond earned $16,000 -- less than a third of her former salary -- and shelled out more than $1,000 a month in marketing expenses.

Determined to make the job work, "I hit my savings," says Redmond. During that year, she ran through all of it, including the savings bond -- redeemed for a fraction of the face amount -- and her 401(k), on which she had to pay taxes and a 10% penalty for early withdrawal. After those accounts bled out, she turned to credit cards. Redmond ended up with eight cards. On one, the card company yanked Redmond's credit and then set a hair-raising 33% rate on her balance.

Her situation is reflective of many Americans, especially those working in the finance sector.

Credit Cards For People With Bad Credit History

2009-04-09T03:27:00.000-07:00

The credit crunch has affected many Americans, even those with excellent credit histories. However, those who are classified as subprime, or bad credit, are the worst hit.

These days, credit card companies are so risk averse that they no longer dare to make loans or extend credit. They rather sit on depositors' money and federal cash injection than do business and make profit.

This has caused hardships for retailers who cannot clear their inventory as people have little cash nor credit to spend. Businesses are also finding it hard to pay their employees with the banks curtailing their credit.

There are simply too many hoops and hurdles for people with bad credit at the moment. Even if they manage to secure a credit card, the credit limit is often lowered or they are forced to open fixed deposits first.

Help is on hand. BadCreditOffers.com is among the handful of online sites which provides a comprehensive comparison of credit cards for people with bad credit. It is very popular and has helped many people, if the millions of visits since it launched in 2005 is any indication.

The site now features rankings, interest rates, and other key data on bad credit credit cards from major credit card issuers. Users can just click a link to each offer’s online application in a quick and easy manner.

Current interest rates for credit cards for bad credit start as low as 7.9% and go as high as 19.92%, with many offering applicants a credit decision in less than a minute of application.

If you are interested in bad credit loans, visit the site to find out more.

Credit Cards Only If You Open Fixed Deposits

2009-04-08T05:31:00.000-07:00

Rising non-performing loans (15 per cent in some cases) have forced several banks to issue credit cards linked to fixed deposits (FDs).

This not only secures the lending, but also allows banks to issue a credit card to a person who is otherwise not eligible.

In this scheme, banks ask applicants to open an FD account with a minimum amount and an auto-renewal facility. The credit limit on the card is pegged at 85 per cent of the FD amount.

The depositor can only withdraw interest as the bank marks a lien on the entire fixed deposit amount. If the cardholder fails to pay the outstanding amount on the credit card within 90 days, the bank has the right to liquidate the FD and set off the credit card charges against it.

What do you guys think of this scheme? I will rather settle for debit cards if I am being forced to open fixed deposits first.

Be Safe From Credit Card Fraud

2009-03-25T06:49:00.000-07:00

Credit card frauds are on the rise these days. The credit card number, the Card Verification Value (CVV) or the Card Security Code (CSC), date of birth, credit card limit, residential address (stored on your card's magnetic tape) is all that is needed for someone to misuse your credit card.

Being vigilant while using your credit card is the only way of preventing fraud. Here are some tips.

Card Verification Value (CVV) or the Card Security Code (CSC)

The CSC or CVV number is a security feature for credit or debit card transactions, giving increased protection against credit card fraud. It is not embossed like the card number, and is always a group of numbers printed on the back signature panel of the card.

This provides a level of protection to the bank/card holder, in that a corrupt merchant cannot simply capture the magnetic stripe details of a card and use them later for 'card not present' purchases over the phone, mail order or Internet.

Whenever you use your card, always ensure that the transaction is completed in front of you and that no details are written down by the merchant. Do not provide photocopies of both sides of the credit card to anyone.

The card verification value (CVV) which is required for online transactions is printed on the reverse of the card. Anyone can use the card for online purchases if the information is available with them.

Using cards online

When using your credit cards for making purchases online:

Ensure that Web site is a secure site. This can be done by checking whether the site is secured by a reputable net authentication agency like VeriSign.

Do not click on links in e-mail seeking details of your account; they could be phishing e-mails from fraudsters. Most reputed companies will ask you to visit their Web site directly.

Do not give out your credit card details on unknown or suspicious Web sites.

Stolen card and suspicious transactions

The first and foremost thing to do, after you have confirmed that you have lost your wallet or card or have seen suspicious transactions on your credit card statement, is to call up the bank's 24-hour call centre and deactivate the card or inform the customer service representative about the suspicious transactions.

The representative will help you file a complaint in regard to this. In case of lost cards, check if any transactions have been made on the card and if there are any; inform the bank about the ones that are not yours.

This has to be done within a particular number of days which varies between 30 and 60days according to different banks.

Scottsdale Real Estate

2009-03-13T20:27:00.000-07:00

The idea of a vacation in a sunny climate sounds like fun especially when I have not taken any leave for close to year. I have also just got through one of the coldest winter in recent memory, so some sunshine is definitely welcome.

Because of my love for warm weather, it is a natural for me to dream of a new home in Arizona, where there is plenty of sunshine and it always feels like summer. I also love the the tourist attractions in Arizona, like the Grand Canyon and The Phoenix Zoo.

While browsing online, I found this Scottsdale site which offers fine Arizona real estate. The site is professionally done, neat and easy to navigate.

If you want Property Rentals only, Scottsdale Fine Properties has professional agents who help make the rental process hassle-free as much as possible.

Or if you are looking at buying New Homes like me, there are so many luxurious choices available. Imagine a beach resort home where you can laze on the rattan bench after swimming a few laps, and enjoy a perfect tan while the light afternoon breeze blows by.

Scottsdale real estate is a useful resource which can fulfill your expectations of a dream home. Visit the site to find out more today.

Investors Bearish On Credit Card Issuers

2009-03-12T21:37:00.000-07:00

As the economy weakens and unemployment grows, the credit card industry could be seeing just the start of a growing wave of trouble.

In February, Moody's Credit Card Credit Indexes reported that credit card charge-offs reached a new high of 7.74% in January. Charge-offs are credit-card loans deemed to be uncollectible. Furthermore, the increasing number of borrowers falling behind on payments means charge-off rates are almost certain to increase as the economy worsens.

The January delinquency rate, which forecasts the charge-off rate, climbed to 5.94%, the highest in 17 years. The record high of 6.31% in January 1992 is likely to be surpassed in the months ahead, Moody's said. In addition, Moody's expects the charge-off rate index could move into double digits by the end of this year if unemployment keeps rising.

Meanwhile, payment rates, which have declined since early 2007, are near a five-year low. In January, the principal payment rate fell to 16.39%, about 2.7 percentage points below the rate in January 2008.

Digging deeper into the sector, we find that American Express has been having a rough year, as the shares have retreated more than 29% since the start of 2009. The company recently offered a $300 incentive for some customers to cancel their accounts as the card issuer and payments processor struggle with surging loan delinquencies and reduced card use.

American Express has been guided lower by resistance at its 10-week and 20-week moving averages for a loss of nearly 80% since June 2007. While the stock recently bounced off support at the 10 level, it is in the process of rallying into staunch resistance at its 10-week trend line--a moving average above which it has not finished a single week since late September 2008.

Read the full article here.

Full Body Detox For Healthy Lifestyle

2009-03-10T17:46:00.000-07:00

My cousin has a weak immune system and tends to fall sick (colds, flu, bronchitis, upset stomach) when the weather is bad or she goes to an adverse environment.

Lately, her health has improved by leaps and bounds after eating more healthily, exercising and taking vitamins. She has also installed an air purifier in her room and practice good hygience like washing her hands with soap frequently.

But more importantly, she adopts a body cleansing program which tackles the problem from inside. Colon Cleansing can help eliminate a lot of health problems, from eliminating sluggishness and losing weight by clearing excess waste. For those who have tried out colon cleansing, they attest to an improvement in the regularity of bowel movement and also spotting a flatter stomach.

Colon Cleansing also detoxifies your liver and other organs to keep them working in top shape by removing heavy metals and toxins. Once toxins are removed from the body, people usually experience a new lease of life, better sleep and glow to their skin.

I have actually read many articles on colon cleansing all these while but have never gone through one myself. I guess it is time to stop procrastinating since everyone is feeling happy about the effects.

If you are eager to do a full body detox to rejuvenate your immune system, visit the site to find out more.

Simple Steps To Protect Your Credit Card

2009-03-05T17:52:00.000-08:00

Here are some simple steps to protect your credit card and personal information.

1. Do not volunteer personal information when you use your credit card, other than ID as requested by a merchant.

2. Protect your cards as if they were cash. Never let them out of your sight.

3. Ensure that your card and a receipt are returned to you after every purchase.

4. Always check sales vouchers for the correct purchase amount before signing them and keep copies of vouchers.

5. Always check your billing statements and verify the amounts of your purchase. Report any unauthorised charges immediately.

6. Make a list of all your cards and numbers and store them in a safe place.

7. Report lost or stolen cards immediately.

Employee Performance Survey System

2009-02-25T05:17:00.000-08:00

This economic recession is really depressing - layoffs are happening left, right and center. I saw an article last month that the number of unemployed workers could reach hundreds of millions this year. It is an employers' market out there.

We have to adjust to the harsh reality but companies can make the parting of ways more acceptable with an objective method of evaluation for their employees. Workers who get excellent performance appraisals should be rewarded with higher salaries and bonuses. Conversely, those with poor reports are at risk.

As a business owner, even if you are not thinking of streamlining now, an effective employee performance system will do wonders in enhancing your company's advantage. By allowing clients to provide valuable feedback through the use of Employee Satisfaction Survey, you can fine tune your business and improve your bottom line.

Inquisite's Employee Performance Evaluation System provides user-friendly tools to accomplish these goals. Their Software as a Service (SaaS) operates through Inquisite's servers which are professionally managed to ensure performance, availability, and security.

With the Enterprise Feedback Management (EFM) software, your company can automate and optimize the collection and managment of customer and employee feedback to optimize performance.

If you are interested, visit the site to find out what Inquisite can do for your business.

AMEX To Cancel Some Credit Cards

2009-02-24T06:01:00.000-08:00

American Express Co. wants some cardholders to leave home without them.

In a marketing turnabout, the largest U.S. credit card company by purchases is offering select members a $300 gift card to drop its card, according to a notice on the company’s Web site.

To collect on the deal, entire card balances must be paid in full between March 1 and April 30.

Molly Faust, a spokeswoman for American Express, says the offer is being made to a “small number of card holders” with sizable balances and little activity “to incent them” to lower their debt with responsible management.

Enrolling in the deal cancels the account – as well as any reward points built up – so the company cautions the points should be used before enrolling in the deal.

Four weeks after the promotion ends, a $300 gift card will be sent to those who canceled and fulfilled the offer’s terms. Gift cards, according to a note on the Web site offer, can be used wherever American Express cards are accepted.

American Express (NYSE:AXP) said in a regulatory filing that its annual net charge-off rate, which measures credit default, hit 8.29 percent in January from 7.23 percent in December, while the rate for loans at least 30 days delinquent rose to 5.2 percent from 4.8 percent.

Red Gillen, senior analyst with Celent, a Boston-based financial research and consulting firm, calls it “an interesting version of amnesty that benefits both American Express and consumers who are dangerously close to defaulting on their credit cards.”

He says the credit card company gains “by creating a sort of legally unenforceable primary lien holder position for itself,” while consumers receive a discounted way to help keep their credit records clean.

Find Out The Truth About Holodomor

2009-02-22T06:09:00.000-08:00

To be frank, I know nuts about Holodomor. But after doing some research, I realized what a tragedy it was.

By going through this site, which contains just one page but very meaningful content, I was able to get to know as to what happened in the Soviet Union way back in 1932-33.

A famine claimed about 6-8 million lives in most of the grain producing parts (or agricultural areas) namely Ukraine, Northern Caucasus, Volga Region etc. It was known as Goldomor which means mass hunger.

It is now associated with the word 'holocaust' or genocide because of the mass deaths. With this recesiion about to slip into a Depression, I fear if something like this could happen. Actually, hunger has been happening in Third World countries for decades.

Areas like Africa, are already experiencing hunger. I remember watching a documentary on Tv about it. In that Tv show, some kids eat only once a day, just 1 tiny bit of bread or rice without anything to go with it.

There was even a family of 4 kids that make up a schedule for their food, taking turns to eat on different days. For them not to go hungry they just drink a lot of water. Some have to get their food from garbage.

What they do is search for the left overs of fast food chain, even the bones then they cooked it again for their food. More people may experience hunger now because of recession. I wish we will never have to experience this, and I wish I can do more about it, but I am helpless.

If you want to learn more about holodomor, just visit the site today.

Do and Don'ts Of Credit Cards

2009-02-21T06:46:00.000-08:00

Due to the fear of excessive debts, everybody is shunning credit cards these days but I will caution against throwing the baby out with the water.

Credit cards are very useful in establishing a sound credit history. It is only when misused that a credit card ruin your credit record, personal finances and even sever potential employment opportunities.

To get the best advantages out of your credit cards, Bankrate spoke with Ruth Susswein, deputy director of national priorities at Consumer Action, a national nonprofit advocacy and education organization.

Here is an insight into the benefits of a credit card:

A credit card, of course, gives you the opportunity to take out an immediate loan whenever you want to make a big purchase — without first having to go to a bank and request that loan.

A credit card also affords you some "float" with your money, meaning that you don't have to commit all of your money at one time to making a major purchase. And if you're new to the world of credit, using a credit card wisely is a terrific way through which you can establish a credit history.

Do Debt Relief Services Really Help You?

2009-02-18T05:32:00.000-08:00

With so many consumers drowning in debt, such slogans look damn attractive.

“Be debt free in 12 months!”

"Let us take on the credit card companies!"

“Cut your debt in half in just minutes!”

Many debt relief services make these promises but few deliver. In fact, some end up costing more money than if you tackled your debt in other ways. So make sure you do not jump out of the frying pan and into a fire.

Some shady debt relief services are out to profit on your debts. They promise to renegotiate your debt to a fraction of what you owe. But to do so, they usually charge hefty upfront and ongoing fees.

Not all debt relief services are dishonest though, but if you see an advertisement, that’s usually a red flag. Most reputable debt relief organizations don’t actively solicit debtors because they are they are not looking to profit.

And while you may have to pay a fee for help, the fees should be reasonable and only due after service has been provided. If you have to pay more than a $50 set-up fee and/or more than $25 per month, that’s probably too much.

If you need help restructuring your debts and kicking bad spending habits,the National Foundation for Credit Counseling can refer you to reputable debt-relief organizations. All their member organizations live up to strict financial and ethical standards of practice.

Your debt counselors will create a feasible debt repayment plan and get your finances in order. If you have several high-interest loans, you may be counseled to get a debt consolidation loan at a lower interest rate.

If you do not want a counselor, then just negotiate your own debts down without the help of fee-charging services. It is not that difficult, many creditors will work with you to lower or waive interest and/or late fees if you are unable to pay.

Finding A Good Wedding Florist

2009-02-12T17:34:00.000-08:00

There are likely dozens and dozens of wedding florists in your area, so it's normal to feel overwhelmed when it comes to choosing the right one for you. My niece is getting married next month; my wife and I have been busy helping her with the preparation work.

It is important to review each florist's work and portfolio. Ask yourself what you like or dislike. Does the work reflect different styles, or does each wedding look mind-numbingly the same? Is there anything there that you'd like at your own wedding?

Next, research their reputations. Has the florist gotten good press, or -- even better --word of mouth? How about references?

Then size up their personalities. Since you'll be working closely with the person you ultimately choose, ask yourself this: Did you like the florist personally?

I am particularly impressed with this site, Flowers For Everyone. They satisfy our requirements and the service is excellent. If you are interested in getting online flowers, visit the site to find out more.

Beware Tempting Credit Card Offers

2009-02-11T17:40:00.000-08:00

As times get tougher many people are relying on credit to get by, but if you’re thinking about applying for a new credit card there are some traps you need to avoid.

The offer says "as low as 9.99 percent APR." The key words here are “as low as.” It could be as high as 20.99 percent or whatever interest rate the company puts in the fine print.

What can you do? Read what’s inside the box on the back of the application to see if the credit card company has a wide interest rate range. If the answer is yes, then consider your credit history and whether you really need this card.

Another promise card companies make, "up to five percent cash back". Sounds great, but in reality the card may offer you much less. You may not get that five percent unless you spend a certain amount per year. The card could also give you the five percent for the first $300 you spend, but afterward it drops to one percent or less.

You also need to watch out for offers of zero percent APR on balance transfers for the first 12 months. With this offer you need to be prepared to pay three percent of the balance up front. It’s required by most companies before you even make the transfer.

And here’s another catch, if you make any new purchases on that card it will be at a higher interest rate and the lowest rate is paid down first.

Here’s an example:

Say you transfer a balance of $1,000 at zero percent. Then you make a new purchase of $300 at 13.99 percent. You pay $300 when the bill comes.
Now you have a $700 balance at zero percent and a $300 balance at 13.99 percent.

The key to all of this is to read the fine print. If you still don’t understand or aren’t getting the answers you’re looking for, call the company and ask questions, before you get in over your head.

Zenni Optical In New York Times

2009-02-09T17:20:00.000-08:00

I have seen a lot of blog posts about Zenni Optical but imagine my surprise when the New York Times wrote an article about them. Zenni is now in the mainstream media, with millions of readers knowing about the company. Their success story reflects how online advertising can improve a company's profile.

The NY Times article mentioned about Zenni Optical's quality and value for money. Indeed, for those wearing eyeglasses, you’ll be glad to choose from the huge selections, styles, and colors available!

Some of the stylish and unique prescription eyeglasses online include single vision lens, sunsensor (potochromic) lens, tinted sunglasses lens, bifocal lens and to progressive lens. What’s even better about this is that the price starts at just $8! Their secret to their low price is that they sell their own manufactured frames directly to their customers.

A lot of people visit their respective ophthalmologist to check and avoid damage to the eyes. For every eye exam, a prescription will be written so that we can buy eyeglasses that suits your budget because it is a fact that eyeglasses nowadays are expensive, some costing a few hundred dollars, especially if you are buying more than one pair.

I am thankful that ZenniOptical.com offers cheap quality frames and anti scratch coating lenses for as low as $8. In this recession, every penny saved can go a long way towards balancing a family budget.

From the various selections, I like the #4933 frame because it looks unique, modern and stylish. Like the contour of the frame.

For quality and affordable eye wears, visit ZenniOptical now!

Current Economic Reality Out Of Proportion

2009-02-08T23:58:00.000-08:00

Why do I say that the current economic reality is out of proportion? Just consider this.

In 1998, I got a job as an analyst earning a whopping $30K a year (about the same as an Indian programmer in Bangalore today). I also purchased a suburban apartment for $120K with 20% down payment. Financing was limited in those days to around 3 times your annual salary.

The cost of groceries came to about $40 a week, and eating out at restaurants hardly exceeded $35 per person.

While my salary seems terrible by today’s standards, I didn’t have excessive debt, save for a mortgage on a fairly valued property in a good location. I was contented...

Consider 2008. The equivalent salary for a graduate-level analyst is about $45K. The cost of that equivalent apartment is $300K (6 times the salary), weekly groceries $80-$100 and a good meal $60 (if the wine’s cheap).

The equivalent quality of life now cost much more and to achieve it is to mortgage yourself beyond your means and delving deep into credit-card debt. These debts have become part of everyone's life.

And that’s precisely what happened, and now everyone’s paying the price. The optimum way out of this crisis is for these proportions to be redressed, however painful it may be.

Hitler And Real Estate Foreclosures

2009-02-07T05:20:00.000-08:00

Enjoy this hilarious video about Hitler and his impending foreclosure.

Identity Theft Poses Serious Threat

2009-02-05T16:12:00.000-08:00

Anyone can become a victim of identity theft, especially those with good credit. A lot of people fail to take any action and far too many end up regretting it, just ask the 10 million American identity theft victims each year.

Due to internet becoming more prevalent, younger and elderly Americans may be more vulnerable. Thus, do not underestimate the necessity of identity theft protection.

Criminals can make use of your driver’s license, bank accounts, a computer, credit cards, or social security number to steal your identity for financial gains. Sometimes, identity theft is linked to other criminal motives, like kidnapping, drug smuggling or fraud.

Besides online identity theft, conventional methods like telephone scams or stealing of wallets are used by perpetrators to acquire personal information. Thieves also comb the rubbish bins of banks, mortgage companies, restaurants and other businesses for receipts, credit slips and applications.

Skimming devices are also used to take the encoded information on the magnetic strips and create new accounts. Then there's shoulder-surfing, when thieves stand close enough to see PIN numbers punched in by ATM or phone booth users.

Perhaps the most frightening (and most thorough) way for a thief to steal someone's identity is by purchasing it at one of the identity search companies that have sprouted on the Internet.

If you really want to protect your identity, I recommend the use of reputable identity protection services like Lifelock.

They offer identity theft protection at the best discounts available. If you are looking for a LifeLock promotion code, or a TrustedID Promotion code, just visit the site, look no further than Identity Theft Labs.

Lifelock also maintains your fraud alert every 90 days. A fraud alert requires creditors to verify your identity before approving any credit requests. This is routinely done by calling you at the number you place in your credit file beside the alert.

Fraud alerts have to be renewed every 90 days unless you use a credit protection service such as LifeLock. They do not affect your credit negatively in any way.

Regardless of your identity protection choice, whether it be do-it-yourself, an identity protection company, credit monitoring or some combination of these, the important thing is that you take action to protect yourself and your loved ones.

The ease of technology has made the crime a 24 hour, 7 day a week lucrative business for criminals. And the damage caused by ID theft can last for years after the fact. Identity theft costs our economy $50 billion a year and an untold amount of personal crisis and despair.

Take action today and enjoy the peace of mind that comes when you know your credit and identity are protected. Be safe, take action now. Precaution is beter than cure, get a Lifelock review today.

Senate Focuses On Protection For Debit And Credit Cards

2009-02-03T00:01:00.000-08:00

A bill which require merchants accepting debit and credit cards to dispose of the consumer information on those cards within 48 hours of transaction completion is now before the Senate.

I have always been concerned about companies keeping my credit card information on file. I prefer it to be removed after the transaction is complete as identity theft is a very real threat.

An employee could steal the numbers. Thousands of dollars worth of charges could be made on your credit card account. If it's a debit card, an employee could empty out your bank account.

Or a hacker may just steal the numbers and begin a series of criminal activities in your name. From my experience, setting right fraudulent charges is traumatic and takes time.

Among the supporters of the bill is the Washington Credit Union League. The league is the only business that supports the legislation.

Last year similar legislation passed 89 to 0 in the House, but died in the Senate Financial Institutions and Insurance Committee after being opposed by some of the most powerful business in the nation.

Among those opposing the bill were Microsoft, Wal-Mart, AT&T, Bank of America, Washington Retail Association, Washington Restaurant Association, and Washington Bankers Association.

The bill also would encourage financial institutions that issue debit and credit cards to aggressively and proactively protect consumer card data when a breach occurs.

This includes recouping costs from irresponsible data collectors for notifying consumers about the breach, blocking or reissuing cards, and providing ongoing fraud monitoring of those accounts. Reissuing a plastic card costs about $15 to $20, according to the League. Staff time adds additional costs.

This is becoming a huge issue for financial institutions because, due to the increase in the number of breaches and the increase in their size, the costs of notification and taking action is skyrocketing.

UK Drug Rehabilitation Service Collapsing

2009-02-02T06:50:00.000-08:00

UK drug rehabilitation service is on the verge of collapsing. No fewer than 15 of the UK's 100 rehab centres have closed in the past 15 months, despite an increase in the number of people seeking help for addictions.

Because of changes in government health policy, private rehabilitation centers are finding fewer and fewer health authorities are willing to foot the bill for addicts to have residential treatment, despite that fact that it is much more effective in getting them off drugs, according to the Addiction Recovery Foundation.

The Independent learnt this weekend that a flagship rehab centre – £26m Winthrop Hall in Kent – is preparing to shut after only one year of operation.

According to the latest Department of Health figures, 202,660 drug users were seen by addiction services in England in 2007-08.

What will happen when there are no drug rehabilitation services? Where can all the drug addicts turn to help? I think the government has got to step in and bailout this industry.

Capital One In Deep Credit Card Trouble

2009-02-02T06:37:00.000-08:00

To see how quickly fortunes have turned for credit-card companies, just look at giant Capital One.

A year ago, Cap One was cruising, reporting profits of $1.57 billion for all of 2007. But on Jan. 23 the company, awash in card delinquencies, reported a 2008 loss of $46 million, its first yearly loss ever.

And that only starts to capture how bad things are getting: In the last three months of this year alone, Cap One lost a staggering $1.42 billion. That includes money it set aside to deal with $1 billion in expected losses from deteriorating credit quality in its outstanding loans.

Cap One's woes may be a harbinger of things to come for all credit-card companies, which have said that 2009 will be a dark year for them as the recession and rising unemployment cut into cardholders' wallets.

Cap One's 2008 loan losses of $6.4 billion far exceeded the $5.6 billion in losses it had predicted. Consumers are struggling to pay their bills as the recession continues to roil the economy, and credit-card companies aren't being spared.