Zero percent liability

The FTC requires that consumer liability for fraudulent charges made to their credit or debit accounts be limited to $50. However, VISA and MasterCard, which control 100 percent of the U.S. debit card market and the majority of the U.S. credit card market, have taken it one step further, requiring that all of their card issuers adhere to a zero percent liability policy for customers affected by fraud.

Equal protection for both accounts

This means that whether you use a credit or debit card, you are equally protected and will receive a 100 percent refund on fraudulent charges made to your accounts. Since both your credit and debit card issuers are required to adhere to the same zero percent liability policy, you should feel equally comfortable when using either account, right? Not necessarily.

Your debit account

When you use your debit card, you’re risking direct access to your checking account. Someone making fraudulent charges to your debit card is stealing your actual money, making the logistics of a refund to your checking account a more difficult and nerve racking process.

What you can expect as a victim of debit card fraud

As a victim of debit card fraud, you run the risk of bouncing important checks, such as your electric and water bill, or even your mortgage payment. Your cash flow for day-to-day expenses is cut off until the dispute is resolved with your bank. While you will get your money back eventually, you have to act fast.

The difference using your credit card

Your credit account, on the other hand, exists on the basis of borrowed money. If someone makes fraudulent charges to your credit card, it has no direct effect on your cash flow for your day-to-day living expenses and you’re generally not responsible for the debt for 25-55 days.

What you can expect as a victim of credit card fraud

For example, let’s say fraudulent charges are made to your credit card account 10 days before you receive your bill. Assuming that you don’t notice the charges until your printed bill comes in the mail, you have a minimum of 25 days to resolve the matter before your bill is due. However, if you’ve been a little more diligent by checking your account online, you will have an additional 10 days to resolve the dispute. Either way, with a credit card, you should have enough time to detect, report, and resolve fraudulent charges before you become responsible for paying them.

And the winner is…

These practical matters clearly make credit cards a more convenient payment method when it comes to fraud protection. However, if you have trouble handing your credit responsibly then credit cards remain an unfit choice.

*Source: CSCU, The Nilson Report, VISA

It’s true – there are some major advantages that come from being a homeowner. For example, instead of just paying a landlord every month, you’re actually investing in an asset that has the potential to grow in value over time. In addition, the government has a whole package of benefits for homeowners, even beyond the $8,000 tax credit they’re currently offering to new homeowners. When tax season rolls around, you’ll also be able to deduct the interest on your mortgage, your property taxes and many other financial elements against your annual income.

However, homeownership isn’t for everyone. There are plenty of reasons why you might not be ready to make the leap from renter to owner. Let’s look at a few:

How Big is Your Bank Account?

Buying a home isn’t just trading in your monthly rent for a mortgage check – there’s a lot more that goes into the price of buying a home. Before you even set foot in your new home, you’ll have to pay for home inspections, appraisals and the closing costs that are part of the home buying process. And, unfortunately, the fun doesn’t stop once the deal is finished.

Another thing to consider is whether or not you’ll be able to afford any major repairs your home needs once you’ve settled in. As a renter, your landlord takes care of things like leaky faucets, malfunctioning appliances and more serious repairs, including roof, siding and foundation problems. As a home owner, the ball’s in your court to take care of these problems and they can get expensive. When you’re considering homeownership, take the time to determine whether or not you’d be able to cope with an extra $1,000 of repairs you weren’t expecting at any given time.

How Stable is Your Lifestyle?

Are you ready to settle down in one area? Or is it possible that your job will require relocation to another area? The stability of your lifestyle is another important consideration to make before you start shopping for a home.

Most experts recommend not buying until you’re ready to spend three years in the home, as it will take that long to turn a profit on the sale after expenses like realtor commissions are taken into account. In fact, some economic analysts are extending this recommendation to five years, given the recent financial losses in the housing sector as a whole. But regardless of which prediction is correct, the end result is the same – don’t buy a home until you’re ready and willing to commit to one place for several years.

So What Should You Do?

The decision to become a homeowner isn’t one to be made lightly. However, there’s no doubt that now is a great time to buy a home – prices are lower than ever, inventory is at an all-time high and the government is offering plenty of incentives for both first-time and repeat home buyers to make a move. If it’s something you’re considering at all, make an appointment with your real estate agent and a mortgage lender to learn more about the home buying process.

Some people use payday loans, money orders and currency exchanges regularly. Some of these people don’t have bank accounts. They need to take care of payments and borrowing, but just haven’t committed to a financial institution yet. If you are one of the millions of people without a bank account, you may be needed services that a currency exchange can’t provide. They don’t take personal checks at all. Payroll checks are limited and there is a long verification process. It’s shortcomings like these that push people to get a bank account, rather than having to work around the pitfalls of their finances.

Finding a bank

When it comes to finding the right financial institution, there are some things you should look at. Here are some important notes on banks to understand.

• Reliability. The Federal Deposit Insurance Corp covers accounts up to $250,000 per depositor, per bank. That means that if the bank fails, which is rare, your investment is covered up to that amount. The same holds true for credit unions. The National Credit Union Administration is the government agency that insures your money there.
• The account. There are a wide variety of accounts banks promote. If you need everyday flexibility like merely using checks, then a basic account may be the best option. There are accounts with no minimum balance that can serve you well. On the other hand there are NOW accounts. These are the ones that earn interest on your money as long as you sustain a minimum balance. Usually the higher the required balance, the larger the return.
• Your bills. Find a bank that is accessible online and has some extra features. You want a bank that has tools to help you manage your money. That means documents on the true cost of a car, payday loans or mortgages, should be available to you. You should be able to customize the amortization schedules to your particular case.
• The Details. Ask your banking officer for a description of each type of account they offer and a brochure. Sometimes it’s best to take the information home to decide exactly what product you want Make sure that you understand the fees and penalties. For example, some banks charge you for falling below your limit on a daily basis. So if you overspend $10 at a rate of $9.99 a day, you could end up paying $30 in fees it if takes you three days to get the funds to your account.
• NSF Fees. Most banks cover you up to a certain amount if you do write a bad check. This may sound like a good idea, but it can be costly. If you go below zero, the bank will payout the money, but you’ll be charged a $30 fee and daily fees until you deposit the necessary money. Beware of how quickly a small mistake can be if you write an over-balance check.
• Savings. The savings you get from a bank can come in the form of interest. You aren’t putting your money in your wallet, but rather putting it to work with you. Shop around for the best deals and the best returns available. For example, CDs, certificates of deposit, are great tools to build your wealth. Their interest rates are dependent on the amount you put in them. Remember though, with CDs, you can’t take your money out for the specified amount of time without a penalty. These lengths of time can be anywhere from 3 to 48 months.

Go to a bank

There is a lot more to know about a bank, but these are the basics. Be sure to sit down with a financial officer and understand what you are getting into. Banks are highly convenient, and can help you get financing when you need it. Though currency exchange stores can handle payday loans, money orders, and faxing, there are still many other services out there. Do some research, but get a bank account. It’s the easiest way to build a return on your money.

Apply for Payday Loans HERE

Phishing, pharming, spoofing, smishing —what do all these words mean? Each one has to do with online hackers and your personal information. Almost everyone today who does anything online has had some experience with unscrupulous companies or people. Phishing for example is when you get an email that looks like it’s coming from your bank or PayPal or EBay, but is actually a fake. It instructs you to click on a provided link to “confirm” your information. The link is phony and will take you to a website that collects your personal information and allows thieves access to your account.

Different words, same result

Then there’s pharming, also known as spoofing, where hackers redirect legitimate online traffic to their own website, and smishing, where criminals use cell phone text messages to get you to divulge your personal information.  Regardless of the name, each one of the above are things hackers use to steal your personal information. They may use the information themselves by trying to withdraw money from your account, or they may sell it to a third-party, black-market company. Either way, you’ll have some trouble fixing the problem once your information is compromised.

Hackers are getting smarter

Some people think they can outsmart hackers by eliminating the computer from their daily bill payment method. Sure this may cut out some of the above tactics, but rest assured there are others. Hackers spend hours devising ways of stealing information. They also use vishing, or “voice phishing,” to leave you automated phone messages from fake banks or credit card companies. The message will ask you to confirm your information in order to get details about where you are keep your money.
There’s also bank-card skimming where thieves actually put bogus ATM machines. When you enter your card, your information is captured and when you enter your pin, they have that too. A simple portable card reader does the trick and can leave you vulnerable to theft.

Not to spread alarm, but . . .

The solution is not to stop answering phone calls or get rid of your credit cards. Phones and credit cards are modern necessities. But the reality is that you have to protect yourself. Here are some basic tips to remember about identity theft:

• Order your credit report yearly. You are allowed one free report every year from Equifax, Experian, and TransUnion. Get them, review them, and make sure everything is accurate, including account numbers and balances, your name, and addresses.
• Never give your personal information to anyone over the phone or online. Remember that your bank, PayPal, EBay and your credit card company already have your personal information. There is no reason for them to request it again.
• If you are self-employed, do business on your own computer and never a public one. Even after you sign out, you may leave valuable information on a public computer. Wireless connections are also more dangerous when dealing with business issues.
• Protect yourself when you are at an ATM. Don’t be afraid to let someone go before you if you think they are standing too close. Also, be sure to never keep your PIN near your card. There’s a reason why banks tell you to pick a number you can easily remember.
• Use the paperless option when it comes to your bank statement. Thieves will go through your mail and garbage to get your information. Handling transactions online leaves no physical record for anyone to steal.

Keep your guard up

These are just some of the ways you can protect your identity and your finances from hackers and thieves. Be vigilant and careful with your information. Theft in general and identity theft in particular, can be difficult to sort out when it happens to you.

Even when there’s a paycheck coming in every week, sometimes it’s not enough to handle that unexpected emergency or expense that you didn’t budget for. Life can come at you fast with sudden changes such as your automobile breaking down, appliances needing repair, even some medical expenses that your insurance doesn’t cover.

With an instant online loan against your next paycheck, however, you can receive the funds you need to give you the peace of mind you deserve when it comes to your financial matters.

Minimal requirements

Let’s face it, an emergency is called that because it doesn’t pick the perfect time to happen. Unplanned events sometimes can throw us for a financial loop because things can be going along smoothly and all of a sudden, we need cash fast.

Whatever situation you may be facing, the reality is that you need help, and it needs to come right away. The last thing you want is a lot of legal jargon put under your nose and a mountain of paperwork to fill out explaining the last few years of your life only to be told that you don’t qualify. Many payday loans are available with no credit check, no faxing back papers and a quick, secure process that gets the money in your hands right away.

Take control of unplanned expenses

Sometimes the day starts off just perfectly, and before the sun goes down, unforeseen expenses have cropped up and put unwanted stress and worry on your plate. Getting a grip on expenses when they happen may seem difficult, but there is help for you.

When you take control with payday loans, you’re also working to preserve your credit rating and your peace of mind. Banks and many other lenders often want you to jump through all sorts of hoops and in the meantime, your expenses are unmet but not when you turn to this alternative to traditional financial institutions.

One-stop financial help helps you deal

When you’re dealing with problems you hadn’t anticipated, the last thing you want to be told is no or that you don’t qualify. Choosing a quick and easy loan of this nature is a one-stop process that puts you back on track and lets you focus on getting the problem solved and resuming your life.

Quick solutions and a helping hand right on time

With all of the information floating around about these payday loans, you shouldn’t get the real deal confused with some of these fly-by-night companies that are just creating gimmicks to take advantage of you. Just as importantly, you want to deal with a reputable company that you can trust because you will have to provide confidential information to them such as your bank account number for direct deposit of the funds to your account, your driver’s license and social security number to verify you are who you say you are, your employer’s name and address and your own address.

Apply for Payday Loans HERE!