House Hold Bank Credit Card

  House Hold Bank Credit Card  - Identity theft: Really simple ways in which someone can take control of your destiny  - Jun 20, 2007  

Identity theft might sound a pretty complex way of stealing and it often confuses about what exactly is being stolen. Stating in simple terms identity theft is a process when someone tries to fake your identity by using fraudulent means and thus take undue advantage in many ways. Identity theft is more about stealing information initially and then manipulating that information to take over the real identity. For example, if some one steals your credit card and makes purchases on your behalf, or someone getting hold of your personal details and creating a false credit history on your name, or someone grabbing your credit information and using for his own benefits. It might look naive but honestly, there are really simple ways in which identity can be stolen. Here are few of them.

If somebody can steal your wallet or read your mails, get alerted. You can be a victim of identity theft. Unused and unattended credit card lying here and there are the foremost cause of identity theft. Add to it a cluttered unorganized mailbox, (yes we are talking of snail mail or physical mails as they are known in modern times) and the chances of identity theft increase.

Are pre approved credit cards lying in your mailbox, eating dust? Take charge grab them and destroy them as soon as possible ( if you don't need them). Identity thieves sense these unattended pre-approved offers as golden opportunity to snatch your identity.

Having weak passwords on your bank accounts, mailbox and computer logins? Identity hackers can break through your accounts easily. Technology has grown and more and more strict online password security measures are adopted by companies, but the hackers are still a step ahead. And if you don't use a secure password, you are an easy bait for password breaking programs, and identity theft.

Do you easily drool and get lured by a sweet talking lady on phone asking for your personal details and shell out all of your vital personal data? You are in for a big big shock. Don't get surprised if after one such call you find someone else taking charge of your accounts. It was your mistake you did give your personal details and vital numbers to a stranger. This is a very simple and effective means used to get personal information which is later used for identity theft.

Nothing is more insecure than filling a form on internet, unless the website clearly details how it will use your personal data. While shopping online you are often asked for personal and financial details, it is like baring everything before a computer. And imagine what can happen if that information is misused or traded across parties? You are doomed.

Identity theft is a relatively new phenomenon but the basics of stealing are the same. The identity thieves are constantly looking for someone careless enough to catch hold on and take control. Are you the next one?

  House Hold Bank Credit Card  - 5 critical factors affecting your credit score  - Apr 4, 2007  

Your credit score is a number based upon your credit report. As you grow in life you will find that it is one of the most important number affecting life and finances. The higher the credit score, the better it is. A higher score can help you find loans with low interest rates and quick turnaround times for approval. The more you understand your credit score and the factors that affect your credit score the easier it will be for you to keep your financial health in order. The following 5 critical factors affect your credit score in a major way. By knowing these you can keep a check on them and make your credit score a healthy one.

1. Re-payment history

This factor carries the highest weight in your credit report. How steadfast are you in repaying your loans, makes your credit report shine. Experts claim that this factor alone accounts for 35% of points in your credit score. So, if you falter on repayment front it is sure to be reflected poorly on your credit score.

2. Outstanding debt

The next comes your debt burden. How much you owe is a factor that according to experts carries about 30% weight in your credit score. This is
30% is based upon outstanding debt. To get a better score it is advised that you keep your outstanding debt to a minimum.

3. Length of your established credit history

The time for which you have a credit history also matters. The longer your established credit history the more credit reporting agencies believe in you. This could be simply because of the fact that they have more data to analyze your financial position. Experts give it a 15% weight in determining your credit score.

4. The state of your financial accounts
How much money do you have in your bank account, your income levels, your house, car, your assets etc. comes the next. A healthy bank account reflects a healthy credit score. Experts find that credit reporting agencies give this factor 10% weight while determining your credit score.

5. Different credit types you have
Whether you have taken a secured loan, unsecured loan or applied for a debt consolidation matters. The loan or credit types also reflects on your credit score. Credit rating agencies give it a 10 % weight to determine your credit score.

Calculation of credit scores is quite confusing and very complex. Exact method of calculation is seldom explained by credit reporting agencies. The 5 critical factors mentioned above, give you the nearest estimate and will help in keeping your credit reports in a good shape.

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