by: Jeff Brown
Victims of credit card fraud can tell you just how traumatic it can be. It's not just the potential money loss, it can also leave a bad mark on your credit report that can take years to sort out.
Most people think that credit card fraud is when your wallet or purse is stolen, and the thief uses your credit cards to buy all sorts of goods and services.
However, the number of purchases made online is growing at an incredible rate and so is the theft or misappropriation of people's credit card details. All the thief needs to cause havoc to your account is your credit card details, number, expiry date, name and security code.
To prevent this from happening it is recommended that you take note of the followng credit card advice.
Here are a few ways that a thief can get your details with appropriate prevention tips:
* You get a phone call where the person on the line tells you about a special offer usually needing a fast response and your credit card details to make the purchase.
Tip #1 - Never give out your credit card details to people who call to sell to you. Only provide it when you call a company to place a phone order and when you are sure that you are dealing with well-established reputable business.
* You find out that someone has gone through the trash bags you left outside for the trash pick-up. Several days later you get your credit card statement and there are lots of purchases you knew nothing about.
Tip #2 - Invest in a shredder! Make sure you completely destroy your credit card receipts and bank statements before throwing them out. Thieves do go through trash bags looking for your statements and other details of your identity.
* You have a meal in a restaurant and use your credit card to pay for your bill. Your next credit card statement shows unauthorized charges dating from the time you had the meal. When you paid, the waiter made an extra imprint of your card when processing your bill, and then used the details to make internet purchases.
Tip #3 - Make sure that you watch the waiter when he processes your bill and make sure that he knows you are watching. If he takes your card, insist that you go with him to the pay station to complete the transaction.
So, what other measures can you take to stop you being a victim of credit card fraud? Here are some more tips:
Tip #4 - If possible, do not carry your credit cards in your purse or wallet. If the worst happens and your wallet is stolen, you will not lose both your credit cards and your cash.
Tip #5 - Only take the credit card that you are going to use that day - leave the others at home in a safe place.
Tip #6 - Make a list of all your credit card details and issuer contact details. The sooner you can report any loss the less damage can be done and your accounts can be frozen until new cards are issued.
Tip #7 - Never ever sign a blank receipt. Cross out any blank lines for tips on the receipt so that charges cannot be added. Always check your receipt befor you sign.
Tip #8 - If you are buying goods online make sure that you do so via a secure site.
Tip #9 - If you move house, let your credit card issuer know the new address as soon as possible. Thieves make it their business to know what is happening in the neighbourhood and will check mailboxes at empty houses hoping to pick up letters with bank, credit card and identity details.
Tip #10 - Spam email is an increasing problem. You may recieve messages that appear to be from your bank, Ebay or Paypal asking for you to update your bank and credit card details. These emails look real. Never provide details when asked to by email. Always log in to the link provided by your bank or payment processor to make any amendments to your details.
So there you have it.......Follow the tips above to reduce your chances of becoming a victim of credit card fraud!
Wednesday, August 13, 2008
10 Tips To Prevent Credit Card Fraud
by: Paul Davis
Imagine opening your credit card statement one morning and discovering to your horror that you suddenly owe thousands of dollars - on purchases that you never made.
Impossible?
Credit card fraud on the rise, so you need to treat your card and its information with extreme care.
Here are 10 tips to help insure you're not the victim of thieves and fraudsters:
1. Sign new and replacement cards immediately.
2. Destroy the old cards by cutting them into pieces and shred all old receipts and bills.
3. Don't fax your credit-card number, if possible. Remember, the faxed document could remain in sight at the other end for long periods of time.
4. Don't give your card number over the phone unless you have initiated the call.
5. Destroy any carbon paper if it's used as part of the credit card transaction. Somebody can grab it and forge your signature.
6. Don't respond to any "scam" e-mails requesting your credit card number.
7. Never send your credit card number in an e-mail to anyone!
8. A good option for discouraging theft is to choose a credit card that includes your photo and signature on the card.
9. If you have questions about mistakes or unauthorized items on your statement, you have the right to challenge them.
10. If your card is lost, stolen, or you suspect fraudulent use, call your company's 24-hour hotline immediately to prevent your card from being used as little as possible. The company will block its use, and you won't be responsible for any charges made by thieves.
You'll never deter fraudsters completely. But you can certainly make life as difficult as possible for them.
Imagine opening your credit card statement one morning and discovering to your horror that you suddenly owe thousands of dollars - on purchases that you never made.
Impossible?
Credit card fraud on the rise, so you need to treat your card and its information with extreme care.
Here are 10 tips to help insure you're not the victim of thieves and fraudsters:
1. Sign new and replacement cards immediately.
2. Destroy the old cards by cutting them into pieces and shred all old receipts and bills.
3. Don't fax your credit-card number, if possible. Remember, the faxed document could remain in sight at the other end for long periods of time.
4. Don't give your card number over the phone unless you have initiated the call.
5. Destroy any carbon paper if it's used as part of the credit card transaction. Somebody can grab it and forge your signature.
6. Don't respond to any "scam" e-mails requesting your credit card number.
7. Never send your credit card number in an e-mail to anyone!
8. A good option for discouraging theft is to choose a credit card that includes your photo and signature on the card.
9. If you have questions about mistakes or unauthorized items on your statement, you have the right to challenge them.
10. If your card is lost, stolen, or you suspect fraudulent use, call your company's 24-hour hotline immediately to prevent your card from being used as little as possible. The company will block its use, and you won't be responsible for any charges made by thieves.
You'll never deter fraudsters completely. But you can certainly make life as difficult as possible for them.
10 Tips for Successful Real Estate Property Investment
by: Rhiannon Williamson
Just because real estate prices seem to have hit a temporary ceiling in many countries around the world, that doesn’t mean that profits from property investments are hard to come by.
Even during a real estate market slowdown, stagnation or depression profits can be made locally and overseas. This article shows you the top ten tips that real estate investors apply to their property portfolio building strategy to ensure success from their investments.
1) Research the curve - the concept of a property market cycle existing is not myth it’s a fact and is generally accepted to be based on a price-income relationship. Check the recent historical price data for properties in the area of the country you’re considering purchasing in and try to determine the overall feel in the market for prices currently. Are prices rising, are prices falling or have they reached a peak. You need to know where the curve of the property market cycle is at in your preferred investment area.
2) Get ahead of the curve – as a basic rule of thumb, professional real estate property investors seek to buy ahead of the curve. If a market is rising they will try and target up and coming areas, areas that are close to locations that have peaked, areas close to locations experiencing redevelopment or investment. These areas will most likely become ‘the next big thing’ and those who by in before the trend will stand to make the most gains. As a market is stagnating or falling many successful investors target areas that enjoyed the best levels of growth, yields and profits very early on in the previous cycle because these areas will most likely be the first areas to become profitable as the cycle begins turning towards positive once more.
3) Know your market – who are you buying property for? Are you buying to let to young executives, purchasing for renovation to resell to a family market or purchasing jet to let real estate for short term rental to holiday makers? Think about your market before you make a purchase. Know what they look for in a property and ensure that is what you are going to be offering them
4) Think further afield – there are emerging real estate property markets around the world where countries’ economies are going from strength to strength, where a growing tourism sector is pushing up demand or where constitutional legislation has been or is about to be changed to allow for foreign freehold ownership of property for example. Look further afield than your own back yard for your next property investment and diversify that real estate portfolio for maximum success.
5) Purchase price – set yourself a budget that will realistically allow you to purchase what you’re looking for and profit from that purchase either through capital gains or rental yield.
6) Entry costs – research fees, charges and all expenses you will incur when you buy your property – they differ from country to country and sometimes even from state to state. In Turkey for example you should add on an additional 5% of the purchase price for all fees, in Spain you will need to factor in an average of 10% and in Germany fees and charges can be in excess of 20%. Know how much you will have to incur and factor this amount into your budget to avoid any nasty surprises and to ensure your investment can become profitable.
7) Capital growth potential – what factors point to the potential profitability of your real estate property investment? If you’re looking overseas at an emerging market, which economic or social indicators exist to suggest that property prices will increase? If you’re buying to let out are there any indications to suggest that demand for rental accommodation will remain strong, increase or even decline? Think about what you want to achieve from your investment and then research and find out whether your expectations are realistic.
8) Exit costs – if you will incur substantial capital gains taxation liability if you sell your property investment for profit, will that render the investment profitless? In Spain a foreign buyer can incur up to 35% capital gains tax, in Turkey on the other hand property sales are capital gains tax free if the underlying real estate has been owned for four or more years.
9) Profit margins – what levels of capital growth can you realistically gain on your property investment or how much rental income can you generate? Work out these facts and then work backwards towards your initial budget to work out your potential profit margins. At all times you have to keep the bigger picture in mind to ensure that your real estate investment has good potential for profit.
10) Think long term – unless you’re buying property off plan and intending to flip it for resale and profit before completion you should view real estate investment as a long term investment. Real estate is a slow to liquidate asset, cash tied up in property is not simple to free up. Take a long term approach to your property portfolio and give your assets time to increase in value before cashing them in for profit.
Just because real estate prices seem to have hit a temporary ceiling in many countries around the world, that doesn’t mean that profits from property investments are hard to come by.
Even during a real estate market slowdown, stagnation or depression profits can be made locally and overseas. This article shows you the top ten tips that real estate investors apply to their property portfolio building strategy to ensure success from their investments.
1) Research the curve - the concept of a property market cycle existing is not myth it’s a fact and is generally accepted to be based on a price-income relationship. Check the recent historical price data for properties in the area of the country you’re considering purchasing in and try to determine the overall feel in the market for prices currently. Are prices rising, are prices falling or have they reached a peak. You need to know where the curve of the property market cycle is at in your preferred investment area.
2) Get ahead of the curve – as a basic rule of thumb, professional real estate property investors seek to buy ahead of the curve. If a market is rising they will try and target up and coming areas, areas that are close to locations that have peaked, areas close to locations experiencing redevelopment or investment. These areas will most likely become ‘the next big thing’ and those who by in before the trend will stand to make the most gains. As a market is stagnating or falling many successful investors target areas that enjoyed the best levels of growth, yields and profits very early on in the previous cycle because these areas will most likely be the first areas to become profitable as the cycle begins turning towards positive once more.
3) Know your market – who are you buying property for? Are you buying to let to young executives, purchasing for renovation to resell to a family market or purchasing jet to let real estate for short term rental to holiday makers? Think about your market before you make a purchase. Know what they look for in a property and ensure that is what you are going to be offering them
4) Think further afield – there are emerging real estate property markets around the world where countries’ economies are going from strength to strength, where a growing tourism sector is pushing up demand or where constitutional legislation has been or is about to be changed to allow for foreign freehold ownership of property for example. Look further afield than your own back yard for your next property investment and diversify that real estate portfolio for maximum success.
5) Purchase price – set yourself a budget that will realistically allow you to purchase what you’re looking for and profit from that purchase either through capital gains or rental yield.
6) Entry costs – research fees, charges and all expenses you will incur when you buy your property – they differ from country to country and sometimes even from state to state. In Turkey for example you should add on an additional 5% of the purchase price for all fees, in Spain you will need to factor in an average of 10% and in Germany fees and charges can be in excess of 20%. Know how much you will have to incur and factor this amount into your budget to avoid any nasty surprises and to ensure your investment can become profitable.
7) Capital growth potential – what factors point to the potential profitability of your real estate property investment? If you’re looking overseas at an emerging market, which economic or social indicators exist to suggest that property prices will increase? If you’re buying to let out are there any indications to suggest that demand for rental accommodation will remain strong, increase or even decline? Think about what you want to achieve from your investment and then research and find out whether your expectations are realistic.
8) Exit costs – if you will incur substantial capital gains taxation liability if you sell your property investment for profit, will that render the investment profitless? In Spain a foreign buyer can incur up to 35% capital gains tax, in Turkey on the other hand property sales are capital gains tax free if the underlying real estate has been owned for four or more years.
9) Profit margins – what levels of capital growth can you realistically gain on your property investment or how much rental income can you generate? Work out these facts and then work backwards towards your initial budget to work out your potential profit margins. At all times you have to keep the bigger picture in mind to ensure that your real estate investment has good potential for profit.
10) Think long term – unless you’re buying property off plan and intending to flip it for resale and profit before completion you should view real estate investment as a long term investment. Real estate is a slow to liquidate asset, cash tied up in property is not simple to free up. Take a long term approach to your property portfolio and give your assets time to increase in value before cashing them in for profit.
10 Tips for Investing in Distressed or Foreclosed Properties
by: Elaine Voncannon
1. Search on the world wide web for distressed or foreclosed properties as a starting point. Use a professional REALTOR to identify great foreclosure deals for you. You may be successful at searching the web on your own, but keep in mind some of the information is outdated, some may be incorrect, and some of the available properties are not even listed. A REALTOR subscribes to updated MLS listings and can offer you the most current information available.
2. If you search yourself for distressed properties and purchase from the selling agent, you are paying a commission to someone with a vested interest. Obtain objectivity in the sale by working with your own REALTOR. You won’t pay any more. Technically, everyone works for the seller, since they pay the commission.
3. With distressed or foreclosed properties, time is of the essence. Purchasers must close on the date specified by the agency, and cannot close after this without penalties of $25-200 per day.
4. It takes 1-3 weeks to qualify a loan. If you are approved for a loan, make sure you are qualified by your lender as soon as possible. If you are paying by cash, make certain funds are available. If finances are in order, the REALTOR will then submit an offer. When the offer is accepted by both seller and buyer, the REALTOR will submit the ratified contract to the lender and closing agent. These steps will begin the process of a successful real estate transaction.
5. When purchasing a distressed property, always obtain 3-4 bids from different contractors to estimate costs of repairs, if you do not plan on doing the work yourself.
6. If you are going to sell the property after rehabilitating it, ask your REALTOR to research similar properties in the neighborhood to ascertain market price.
7. Keep copious records for tax deductions. Any expenses related to the purchase, repair, or maintenance of the property may qualify. Meticulous records are key to a profitable real estate venture.
8. The title you receive after purchasing a distressed or foreclosed property is a special warranty deed rather than a general warranty deed. Some buyers are alarmed by this, but there is no need to worry. The purchase of title insurance protects the buyer. Each lender purchases insurance to protect the loan as well. Titling insurance should be obtained by the property purchaser. It is always offered by the closing agent. Consider using an attorney instead of a titling company as your closing agent. An attorney is only $50-75 more than a titling company. A real estate attorney can remedy any situation that may arise. Therefore, they are more efficient representatives on time sensitive foreclosure properties. 9. Foreclosure properties require special addendums and special contracts by the individual bank and HUD office (where applicable).
10. Foreclosure properties are potentially the most profitable, but require the most attention to detail. A REALTOR experienced in foreclosure deals is highly desirable because the paperwork must be in order to submit a proper bid, and timeliness is critical.
1. Search on the world wide web for distressed or foreclosed properties as a starting point. Use a professional REALTOR to identify great foreclosure deals for you. You may be successful at searching the web on your own, but keep in mind some of the information is outdated, some may be incorrect, and some of the available properties are not even listed. A REALTOR subscribes to updated MLS listings and can offer you the most current information available.
2. If you search yourself for distressed properties and purchase from the selling agent, you are paying a commission to someone with a vested interest. Obtain objectivity in the sale by working with your own REALTOR. You won’t pay any more. Technically, everyone works for the seller, since they pay the commission.
3. With distressed or foreclosed properties, time is of the essence. Purchasers must close on the date specified by the agency, and cannot close after this without penalties of $25-200 per day.
4. It takes 1-3 weeks to qualify a loan. If you are approved for a loan, make sure you are qualified by your lender as soon as possible. If you are paying by cash, make certain funds are available. If finances are in order, the REALTOR will then submit an offer. When the offer is accepted by both seller and buyer, the REALTOR will submit the ratified contract to the lender and closing agent. These steps will begin the process of a successful real estate transaction.
5. When purchasing a distressed property, always obtain 3-4 bids from different contractors to estimate costs of repairs, if you do not plan on doing the work yourself.
6. If you are going to sell the property after rehabilitating it, ask your REALTOR to research similar properties in the neighborhood to ascertain market price.
7. Keep copious records for tax deductions. Any expenses related to the purchase, repair, or maintenance of the property may qualify. Meticulous records are key to a profitable real estate venture.
8. The title you receive after purchasing a distressed or foreclosed property is a special warranty deed rather than a general warranty deed. Some buyers are alarmed by this, but there is no need to worry. The purchase of title insurance protects the buyer. Each lender purchases insurance to protect the loan as well. Titling insurance should be obtained by the property purchaser. It is always offered by the closing agent. Consider using an attorney instead of a titling company as your closing agent. An attorney is only $50-75 more than a titling company. A real estate attorney can remedy any situation that may arise. Therefore, they are more efficient representatives on time sensitive foreclosure properties. 9. Foreclosure properties require special addendums and special contracts by the individual bank and HUD office (where applicable).
10. Foreclosure properties are potentially the most profitable, but require the most attention to detail. A REALTOR experienced in foreclosure deals is highly desirable because the paperwork must be in order to submit a proper bid, and timeliness is critical.
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