Financial data theft can occur anytime, but the weeks around the holidays are the prime target. This is because consumer spending activity peaks this time of year, and people are less likely to screen their billing statements due to the volume of transactions. Data thieves take advantage of this fact.  They also know that small, numerous transactions are less likely to be questioned by consumers and card issuers.

Protecting yourself against credit card fraud is especially important if you are buying a Columbus home in the future! Here are 10 tips to help you!

1. Obtain transaction receipts. Businesses may treat your receipt as “optional” and only provide one if you ask. Be sure to ask for it!

2. Monitor your account activity online. Do this daily, or as frequently as possible. Compare your receipts to the account record.

3. If you do not recognize a transaction on your account, question it with the card provider and/or issuing bank. Don’t shrug off small transactions.

4. If you suspect that your credit or debit card data has been compromised – even if you do not see “proof” yet – don’t wait for a problem to show up. Ask your financial institution for a replacement card, and/or open a new bank account. The peace of mind could be well worth the minor hassle.

5. Do not carry all your credit and debit cards along with you. Lock away infrequently used cards.

6. When handing your credit or debit card to a merchant or server, keep an eye on it. Card data can be easily photographed with a smartphone.

7. Never lend your credit or debit card to someone. They may not be as careful with your card as you would be.

8. When signing the merchant copy of a transaction slip, do not leave any blank lines in the tip area.  If you are not tipping, strike a line through this area. Do not fill in with zero.  Always makes sure the total is accurate before signing the slip.

9. Card skimmers that intercept data are sometimes found on gas station pumps. If you are using a debit card, run it as a credit instead, so that your PIN number isn’t at risk. Better yet – pay inside, and use the credit option.

10. Keep up to date with fraud protection tips by visiting the Central Ohio Better Business Bureau and the Federal Trade Commission Consumer Information website.

We hope these tips are helpful to you! When you are ready to buy a home, you can trust us to protect your interests. As your Exclusive Buyer’s Broker, we take the time to educate and inform our clients about the home buying process.

You can help yourself to valuable information right now! Download our FREE e-book, “How to Buy a Home Like a Pro!”

Contact us for help with your home buying questions! Remember, we are with you every step of the way…all the way home!

Andrew Show
Broker, CEBA, CEBA-M, CNE, CSP, ABR-M, e-PRO, GREEN
Buyer’s Resource Realty Services
Serving Metro Columbus, Ohio with Exclusive Buyer’s Agents
7100 North High Street, Suite 204, Worthington, Ohio 43085
614-888-4110 | 888-888-4110 Toll Free | 614-839-4110 Fax

The post 10 Credit Protection Tips for Columbus Consumers appeared first on Columbus Ohio Real Estate | Buyer's Resource Realty Services.

In a prior blog post, we talked about credit facts every Columbus home buyer should know. Now we’re going to give you credit score improvement tips that can help improve your chances of qualifying for a mortgage.

Please be advised that because FICO is very tight-lipped about exactly how credit scores are tabulated, there are no magic bullets here. However, we have basic insights to share from The Federal Trade Commission, FICO, and our own industry experience.

1. Pay your bills on time, including cell phones and utilities. You don’t know who is reporting to the credit bureaus until you pull your credit history.

2. Reducing your debt load helps boost your score, but spreading debt around does not. Avoid frequent balance transfers to take advantage of temporary breaks in interest rates. This strategy can cause you to open more lines of credit than necessary, and in the long run, it could be detrimental.

3. Don’t max out your credit limits. Using more than half of your available credit balance can depress your credit score. Some counselors suggest that you should not use more than one-third of your credit line.

4. The age of your credit accounts can impact your score. The more seasoned your accounts are, the better.

5. Applying for too much credit can hurt your score. If you are shopping for interest rates, making multiple, like-kind inquiries in a very short time is not considered harmful. However, multiple inquires on your credit report can cause a higher perception of risk. Tread carefully.

6. The number of credit accounts, and the type of credit, also can impact your score. A mix of credit, such as a credit card and a car loan, show that you can handle various debt types with equal responsibility. Some types of accounts are considered negative, however. Loans with consumer finance companies, and payday loan companies, are not generally helpful to your score.

7. Do not close credit accounts, unless it’s necessary to prevent fraud or theft. It’s okay to pay off a debt, but if you don’t wish to use a certain credit card anymore, cut up the card and leave the account status in good standing. The bureaus and scoring models do not always make a distinction between an account closed by the consumer, vs. an account closed by the creditor. The latter situation is considered negative.

We are always happy to share information that helps you achieve home ownership! If you are ready to pre-qualify for your mortgage, we can refer you to reputable lenders in Columbus who can help you with home financing!

When you are buying a home in Columbus, having us on your side as your Exclusive Buyer’s Broker will give you distinct advantages! Please remember that unless otherwise disclosed,  real estate agents and brokers all work for the seller! Having your own Exclusive Buyer’s Broker on your side is the best way to ensure you do not overpay for a home, or get into a contractual situation that is not right for you.

Contact us and learn more about home buying strategies in Central Ohio! Also, download our free e-book for immediate tips that you can put to use today.

Andrew Show
Broker, CEBA, CEBA-M, CNE, CSP, ABR-M, e-PRO, GREEN
Buyer’s Resource Realty Services
Serving Metro Columbus, Ohio with Exclusive Buyer’s Agents
7100 North High Street, Suite 204, Worthington, Ohio 43085
614-888-4110 | 888-888-4110 Toll Free | 614-839-4110 Fax

www.BuyersHome.com
Connect With Me:
Facebook
Twitter

The post Credit Score Improvement Tips for Columbus Home Buyers! appeared first on Columbus Ohio Real Estate | Buyer's Resource Realty Services.

Some home buyers make the mistake of assuming their credit score is fine, only to find out mid-home purchase there’s a problem.  Here are practical steps you can take to make sure your credit report is healthy.

1. Obtain your free annual credit report from annualcreditreport.com. You will be asked to pick a report from one of the “big 3” credit agencies. Not all creditors report to all agencies, so your single report may not be 100% complete. However, it will give you a starting point.

2. Scrub your credit history and check for any errors or fraudulent activity. File a dispute on inaccurate items and be prepared to back up your case with specific details. It can take upwards of 60 days for a correction to wind through the system.

3. You can obtain your credit score by visiting MyFico.com. This site also provides tips on improving your credit score. Please note, this site may offer you a “free” credit score in return for signing up for a monthly management program, which could cost you a bundle in the long run. There should also be an option to pay a one-time fee and get your score.

4. If you are over your head with debt and need help turning things around, the National Foundation for Credit Counseling can help you find Certified Credit Counselors right here in Columbus.  Beware of scams that promise to “fix” your credit fast; there are no magic wands for damaged credit. You can recover from credit problems, but it takes time.

5. When you are buying your Columbus home, avoid making big credit changes during the home buying process. Even after you have a mortgage approval, banks are likely to look at your file again right before you close on the house. Mortgage underwriters are required to question everything these days, and even a benign move, like closing an account, can cause red tape. In other words, it wouldn’t be a good time to finance that new car, or to put new furniture on your credit card.

This is just an introduction to credit facts, but it will get you started on the road to home ownership! For more information, I can refer you to reputable mortgage lenders in Columbus who can help you with home financing!

I’m happy to share these credit tips as a service to my clients. When you are buying a home in Columbus, OH, having me on your side as your Exclusive Buyer’s Broker will give you advantages you would not otherwise have! Please always remember that real estate agents and brokers all work for the seller, unless otherwise disclosed! Having your own broker on your side is the best way to ensure you do not overpay for a home, or get into a contractual situation that is not right for you.

Contact me and learn more about home buying strategies in Central Ohio! Also, download our free e-book for immediate tips that you can put to use today.

Andrew Show
Broker, CEBA, CEBA-M, CNE, CSP, ABR-M, e-PRO, GREEN
Buyer’s Resource Realty Services
Serving Metro Columbus, Ohio with Exclusive Buyer’s Agents
7100 North High Street, Suite 204, Worthington, Ohio 43085
614-888-4110 | 888-888-4110 Toll Free | 614-839-4110 Fax

www.BuyersHome.com
Connect With Me:
Facebook
Twitter

The post Credit Facts Every Columbus Home Buyer Should Know appeared first on Columbus Ohio Real Estate | Buyer's Resource Realty Services.