FTCs Top 10 Frauds

The Federal Trade Commission http://www.ftc.gov/ released it's latest report on consumer fraud. A shocking 30.2 million Americans have been scammed.

The number of people scammed in 2005 amounted to 13% of all Americans.

Below is a list of the FTC's top 10 frauds:

The frauds were communicated through various media including; Print & Electronic Media. Many of the victims are from minority populations. Victims also where considered to be less educated than non-victims.

What to you think? Have you been scammed? Share your comment's.


Or email: jcarltonford@yahoo.com

The Counts Of Credit and Debt

Every loan and fee that you pay to a bank makes the bank financially stronger, while you get financially weaker.

This is because of the concept of Fractional Reserve Banking.

This kind of banking magically allows a bank to turn $100 into $900, while you don't have the same magical ability.

For example, for every $100 in your bank account the bank can lend someone else up to $900 of your money. Of course, the bank can charge up to 30% interest [$270!], while the bank pays you only 2% interest.

To make things much more frightening, the bank will charge you a fee to store your money. Then that same bank can turn around and lend the money from the fee's to someone else.

Every dollar that you pay a bank feeds a hungry money vampire that will sneak up and suck more of your financial life-blood from you.

What do you think? Share your comment's regarding any post you see. Or to trade links email: jcarltonford@yahoo.com

Scary Credit Cards

These Cards Can Bring Financial Failure Out Of Your Nightmares Into Real Life

You may have invited an evil menace into your life. You may have trusted this menace with your all of your important personal information like; your social security number, date of birth and banking information. Now this menace goes with you everywhere and may cause you years of stress and anxiety.

It's not your fault. You've been tricked by a "Credit Predator". Like all predators, the Credit Predator is sneaky, cunning and calculating.

You were probably offered 20% for all purchases at participating merchant's, Rewards Points and Cash Back. Fine print read like a Stephen King or Dean Koontz Novel.

You may trapped in a Secondary Credit Card.

A Secondary Credit Card has driven people to financial ruin, bankruptcy and suicide.

Unlike Primary Credit Cards, which have interest rates under 12%, Secondary Credit Cards have introductory interest rates in the 16% to 24.95% range.

The scariest part is that many Secondary Credit Cards say in writing, that your interest rate will never go lower than the introductory rate. So, if you start at 24.95% interest, the rate will never be lowered.

Here's a quick guide to Primary and Secondary Cards:

Primary Cards

•American Express
•Credit Unions
•Discover
•Master Card
•Visa

Primary Cards are a treat because they offer good service and great lending experiences. Primary Cards often have lower interest rates.

Secondary Cards

•All Store Cards
•All Bank Cards
•High Interest Cards
•Secured Cards

Don’t be tricked into staying in a Secondary Credit Card. The rates, fees and customer service are enough to give you nightmares forever...

Do you hear an evil laugh or is that just me?

What do you think? Share your comment's regarding any post you see. Or to trade links email: jcarltonford@yahoo.com

Freeze ID Thieves

"At Acme Sales Company, We Know That Bad Things Can Happen Your Good Credit..."

I'm sure you've heard some spokesperson, in some advertisement, use that pick up line. I used to laugh at that line .

That was, until I met some real ID Theft Victims.

Good news: Beginning, November 1, 2007 you will be able to freeze your credit report preventing identity thieves from leaving you feeling cold. Freezing your credit report will secure that no one else can access your credit file without a your secret PIN.

Before, the Big 3 Credit Reporting Agencies [codename: Big 3CA's] Equifax, Experian, and Transunion, would only freeze access to your credit report, after you were a victim of identity theft. We think this new option is better late than never.

Now all three Credit Reporting Agencies Equifax, Experian, and Transunion will offer the option to freeze your credit file for a payment of $10 for each Big 3 CA.

Use with caution: The security freeze process has not been perfected yet.

Were you a victim of I.D. Theft? Share your story in a comment.

Top 9 Credit Card Warning Sign's

1. You only pay the minimum amount due on your credit cards each month.
   


2. You make late payments or sometimes can’t make a payment.
   


3. You add more to your credit card balances than you pay each month.
   


4. You rarely if ever see your credit card balances go down.
   


5. You don’t know how much you owe, total, between your credit cards and other loans.
   


6. You apply for new cards but are at or near your credit limit on existing cards.
   


7. You pay for necessities such as groceries, gas or insurance with credit cards or cash.
   advances instead of cash.
   


8. You tap your savings to pay your credit card bills and other debt – or you have no savings.
   


9. You feel anxious or stressed when using your credit cards.

What do you think? Share your comment's regarding any post you see. Or to trade links email: jcarltonford@yahoo.com