Talk of The Villages Florida - View Single Post - Do you use any of the credit or credit card protection companies?
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Old 03-29-2013, 07:47 PM
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Default Absolutly NOT!

Quote:
Originally Posted by billethkid View Post
I got the sales pitch today from one of the credit score companies about why I needed to have their protection to do such things as freeze the account should it become neccessary or to block lenders from accessing the account to check credit scores without permission....etc.

We have managed all these years with no credit score issues ever. I get it they are selling a form of insurance, but is what they are peddaling really needed?

btk
You can run your own credit reports every year... There are three major reporting agencies. Run one now, another in three months, and another in the next three months. In this way you can check your credit report for free every three months. If you want to know your score, for a small charge you can obtain your score. Each agency scores differently, so don't be alarmed if the range is more than you would expect. This is a good way to check your credit without paying a company.

You "can" be liable for up to $50.00 on your credit card if you are compromised. There is not much chance that will happen. The companies are very good about clearing the total of the loss.

Depending on your credit card company, you can get emails and/or texts on the spending on a credit card account. I get a daily text so I can see if there is anything going on out of line.

I also have a company that allows me to use a "virtual" card number. I can use it online or just by giving the card number to the vendor. It can only be used once and I can set a MAX amount for the purchase. If anyone tries to use it a second time it will be flagged and I am not responsible for any other charges than what I authorized.

Credit cards in The Villages have been compromised so much in the past the FedEx driver told me he delivered 250 replacement cards on any given week in The Villages. Trust me... none of us had to pay any of those charges and the credit card companies did everything they could to make it as painless a possible.

Credit Card companies are good about catching fraud very quickly! Every time I hear of a card being compromised, the credit card company has caught it before I could!

Now... Just so you know... My background is as a public speaker for financial literacy. My presentation was nominated for the Wisconsin Financial Literacy Award three years in a row. I spoke in five states, and in the state of Wisconsin, one of the Carpenters Unions and one of the Ironworkers Unions would not allow their guys to be certified unless they listened to my presentation. I'm not pulling this out of my back pocket.
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