Based on a newly released data from ACI Worldwide, CreditRepair.com’s president Scott Smith reports that online retail fraud has grown by 30 percent in 2015. Identity theft can hardly be fought. However, it is possible to mitigate the impact of breach on your credit. Online Fraud Or Identity Theft Online fraud or identity theft can be a great damage to consumer credit. According to Adobe holiday shopping forecast, holiday online shopping is expected to be larger than in-store in 2016, and total online sales are believed to be higher by 11% than last year, thus counting for $83 billion. Smith […]

All good businesses have one thing in common – credit. In order to have a shot at success, business owners must establish and keep good credit. According to a 2015 Consumer Financial Protection Bureau, 26 million Americans have no credit score or credit report. If this is you, your business will have a difficult time finding a payment processor or getting any type of loan for start-up costs or expenses. The following are a few ways to gain and maintain credit. Understanding how credit is factored is critical to building good credit. Payment History (35%). This is one of the […]

On October 29, 2015, the Consumer Financial Protection Bureau (CFPB) announced that it was taking action to halt a nationwide student financial aid scam. This scam has allegedly ripped of tens of thousands of students across the country. The complaint in federal court against the company, which operates under the names Student Financial Resource Center and College Financial Advisory, is for illegally charging millions of dollars in fees for sham financial services. The CFPB is taking action in an effort to halt the illegal practices, while also obtaining relief for the consumers that have been harmed by this scheme. The […]

Are you ready to move from a sole proprietorship to a corporation? This upgrade is a very important step for you as a business owner and can position your business for long term growth and success. But once you’ve incorporated, what steps should you take to ensure the business stays in compliance with the laws and stays profitable? The following are the steps entrepreneurs should take once they’ve incorporated. Set Up a Board of Directors The Board is designated in the Articles of Incorporation. Directors oversee the officers and ensure that the company follows the law and corporate procedures. Directors […]

The black market is getting smarter as banks and officials battle credit card fraud. When a customer’s credit card information is stolen, a bank may attempt to buy their stolen data back to figure out the source of criminal activity. In the mid-2000s, almost 80 percent of black-market participants did not associate with criminal organizations, but now only 20 percent are unaffiliated with some sort of criminal group. As a result, a growing number of black-market “card shops” have started to be less welcoming to outsiders. This has made the task of buying back customer information more difficult. According to […]

As children grow into young adults and move from their home to the college dorm, it brings a lot of changes for both the student and their parents. The young adult suddenly has a lot of independence, which is also accompanied with a greater level of responsibility. However, this increased freedom does not mean that guidance and help from home is unwelcome or unnecessary. While in college, many students will get a credit card. In fact, a new study reveals that 35% of college students have one. The potential negative effects of using a credit card, however, may not be […]

If you were under the assumption that big banks can offer the lowest rate credit cards, you might want to think again. Three of the four big four banks have actually increased interest rates on their “low” rate cards since 2013, despite the fact that interest rates officially fell to record lows. In fact, official interest rates have been on the decline for the past four years. In June 2011, interest rates were sitting at 4.75%. Since that point, they have moved to more than half of that to a current level of 2%. However, of the four big banks […]

One of the biggest industry booms involves credit repair companies. From consolidating debt to debt coaching, the industry is booming, thanks to the increased spending (therefore increased debt) of consumers. While it may seem like a long, hard road ahead for those who are trying to get out of debt, the process is easier than it seems. All it takes is some knowledge, dedications, and a good credit repair merchant account. One of the biggest issues when it comes to solving someone’s debt issues is that it isn’t just the money that needs tending to. According to many experts, emotional […]

Many industries went down the tubes during the recession. But the credit repair services industry was one of the few that thrived. That’s because consumers realize that bad credit can hurt their finances and futures. This industry is projected to continue to grow as the economy recovers. Now is the time for industrious entrepreneurs to corner the market in credit repair. Credit repair businesses help find and correct detrimental errors on consumer credit reports. In today’s recovering economy, good and accurate credit is essential to achieving life goals, like purchasing a home, buying a car, or even finding a dream […]

It seems that it has become a snowball effect. You applied for a new home loan and were declined. You applied for a used car loan and were declined. You applied for a store branded credit card and were declined. All of the people who turned you down said it was because you had a bad credit score. True, you had some problems with late payments and even some skipped payments during the recession, but you thought they would have come off your credit report by now, Should you call a credit repair company that has a credit repair merchant […]