What credit card companies and credit bureaus don’t want you to know

Sounds funny that your credit card companies and the credit bureaus share some trade secrets that are actually in place to do you more harm than good. For example many credit card companies wil extend you credit even if you can’t really afford it.

When you apply for credit the credit card companies only do a surface check to see if your finances measure up and to check your credit score if you fit in there box you win. A life of debt that you weren’t prepared for.

Debt that seems to grow faster than you can pay it off. Also you win some hidden fine print that states your can make the minimum monthly payment options that include taxes and possible additional charges you were not prepared for.

Next in line is the credit bureaus which were never designed to do anything more than create revenue. These bureaus are a double edged sword, first business that issue credit pay to report your payment and credit obligation repayment This is the first source of revenue.

Secondly these same bureaus who report our financial history also sell our information to other credit issuers to send us more credit offers. This is the second stream of revenue for these giant credit reporting bureaus. Most consumers never realize this and keep on going through life and wondering why this and why that.

Credit is big business and the effect of misuse of credit is dangerous. Just look around to see the negative affects on the economy. We have not seen this type of financial devastation since the great depression of 1929 according to the experts we learn from everyday.

So with this knowledge you can protect yourself by opting out of the marketing lists, using a professional service such as LifeLock to protect your identity and remove you from all of the major marketing channels, removing you from junk mail and opting out. Also LifeLock will place fraud alerts on your credit reports to prevent false issuing of credit to someone other than you.

The main reason we are on these lists is so we can be bombarded by direct marketing companies, credit lenders and other direct sales professions to trigger our impulse in buying. Where else should you get your data from some outside source or the one place that knows your deepest secrets in making purchases.

If you are exposed at your weakest level and the companies who compete are vying for your business than why would I as a marketer want to gather your intelligence from anyone else? I can see where you shop, where you have applied and received credit, where credit was denied and so on.

Take warning that in today’s modern world information is king right up there with cash. Which makes more sense today; robbing one bank or stealing identities and robbing thousands of identities for the same purpose and never leave the comfort of my own living room.

• Twitter me this "What's in it for me if I choose you for business" Recently I read a twitter post that triggered some deep profound thought on my part [especially since it was 2:10 in the morning and I had been up for some 19 1/2 hours. I was happily digging my way around and starting to follow some new twitter folks when this......
• Why we dance around the money situation at hand You can look at this in another perspective, why do we dance around the subject of finance, financial stabilization, security, why because it's uncomfortable for the masses. Many people are challenged and distraught about their current state of affairs. Constantly complaining about their situation at hand,yet instead of doing......
• 5 steps to a better more accurate credit score Often times I get asked how do I raise my credit score, now of course the answer may not be the same for every individual circumstance. Although the basic four rules apply to assist in keeping your credit scores in their best possible. score. Number 1 rule of thumb is......
• Organizing your daily financial routine Wealth it all starts with a concept, the challenge is making the mind choose from the heart. I know this may seem funny at first but you will soon realize that your actually doing it. You see when you make choices they always come from the heart first, then the......
• FICO 08 What Does This Mean To Your Credit Score I found this article posted by National Home Loan Advocates. I find this to be critical to your success in building a solid understanding around credit and tyhe importance it plays in your future. Enjoy your read and keep htis article bookmarked for safe retrieval on your desktop. FICO 08......

• Money Management Tip – Always Check for Errors Money management tips come in all shapes and sizes. Some relate to complicated matters like maintaining a diversified investment portfolio or maximizing your retirement plan contributions by taking advantage of employer matching contributions. Other money management tips, however, can be very simple. In fact, one of the simplest tips I’ve......
• Money Management Questions and Answers How can money management techniques be applied to my life? - The first step is to realize that you could possibly have an overspending problem. This is the number one reason why people get over their head financially. You can easily consult with a money management counselor that will help......
• Signs That Your Teen Needs Money Management Help If you teen went off to college tomorrow, how soon would they call you asking for money? Would they be able to purchase their own groceries by the end of the month? Would they end up moving back into your basement when they cannot afford their apartment any longer? The......
• Teach Your Kids about Money Management It is never too early to teach your children the basics when it comes to good money management. Teaching your children good habits is always wise, and money management is definitely a set of good habits that is better taught sooner instead of later. If you teach your children how......
• Two Debt Settlement Companies Defendants in New Illinois Lawsuits As many consumers are busting their hump to get out of credit card debt, there are still companies out there who are happy to take advantage of an unfortunate situation. Two so-called debt settlement firms are under the microscope for alleged deceptive practices in the state of Illinois. Aliso Viejo,......