Protecting Your Credit and Credit Score in Today’s Economy
September 2009
The economic fallout from the national credit crisis and recession has been hitting personal finances hard in recent months. Many consumers are facing tightened credit availability as they seek a mortgage or car loan. Credit card companies have been lowering credit limits and closing accounts at record levels, even for customers with good credit, in an effort to recover from past losses and reduce future risk exposure. Meanwhile, layoffs continue and our collective sense of job security is lower. Even though some recent economic indicators have been positive, economic recovery is still a way off. Smart consumers know that protecting their credit and credit score in this uncertain climate is very important. In this report, we’ll look at some expert recommendations for achieving that goal.
Today’s recession has made for a tight job market. In addition, high unemployment rates add more pressure. This stressed climate in the job market attracts scams and fraudsters seeking to take advantage of people anxious to land a job. Because so many job search activities have moved online, many of the scams also come to you online. This month’s report describes some of the most popular frauds and offers tips to help you avoid these traps.
Using Credit Cards Wisely During Today’s Tough Economy
July 2009
Used wisely, credit cards enable consumers to manage cash flow and leverage their overall buying power. Today’s tough economic times, however, have put pressures on financial institutions, businesses, and individual consumers. These pressures have given rise to ongoing changes in credit card account terms and rates being made by a number of card issuers. Such changes may in turn increase financial pressures on many card holders. Cash-strapped consumers squeezed by higher costs or employment woes may be tempted to bridge cash shortfalls by charging expenditures, even for necessities such as food and gasoline. The resulting cycle of increased debt can be down right dangerous to personal financial stability. This report provides some strategies for using credit cards wisely in today’s tough economic circumstances.