Did you know that opening up too many credit cards can hurt your credit score? Applying for a new credit card creates a hard inquiry on your credit report and also lowers the average age of your available credit which can make it appear that you are in financial need; both of these factors will likely knock a few points off your credit score.
Payday loans are designed to look like a quick fix to a financial pinch that will be paid back in a week or two. When unplanned expenses add up, many borrowers fail to repay the payday loan within two weeks and get hit with astronomical interest rates considered preposterous even when compared to credit cards.
The inability of many students to repay their student loans is a looming crisis in America. Now an increasing number of student loan borrowers are defaulting on their loans. When a default occurs, many people are unaware how serious the ramifications are. When a Federal student loan defaults, the Government has ways of making sure it gets its money paid back eventually.
Your personal health insurance information and social security number are valuable and easily made useful to a clever thief, especially a desperate drug addict. Your medical identity is a commodity that can be hijacked and used to falsify insurance claims or to fraudulently acquire government benefits such as Medicare and Medicaid.
Many smart people are falling for Facebook scams because they think the site is well policed and won’t allow fraudsters on board. But scammers are upping their game with improved schemes that look like legitimate posts from reputable companies. Be on the lookout for these 3 Facebook scams.