Tips with practical guidance on how to become a smarter, safer user of financial services. Also provides alerts on scams or fraudulent activity.
July 26, 2010
If your credit card company has lowered your credit limit, it may cause your credit score to decline. This is because your score is based in part on the percentage of your credit limit that you are using and how much you owe. Learn more...
July 19, 2010
You might want to consider paying for big ticket items or services with your credit card rather than your debit card, cash or check. The protections afforded you for unauthorized transactions or defective goods are more beneficial. Learn more...
July 12, 2010
Depositors whose funds are within the federal insurance limits should not be concerned about the health of their FDIC-insured bank or savings institutions. They can rest assured with the knowledge that their deposits - principal and interest - are 100 percent safe. Learn more...
July 5, 2010
Your teenager may be too young to have a checking account or credit card, but an identity thief can use your child's name, address and Social Security number to get one. One of the most important things a teen can do to protect against identity theft is to be very suspicious of requests for their personal information. Learn more...
June 28, 2010
You may know you are entitled to a free credit report every year from each of the three nationwide credit bureaus. But do you know there may be advantages to spreading out those requests? Learn more...
June 21, 2010
Have you recently deposited a large sum in your bank account from a home sale, inheritance or an IRA rollover? Make sure your deposit is fully insured. Learn more...
June 14, 2010
Do you want to maximize your certificate of deposit earnings but are hesitant to invest long term? Think about "laddering" your CDs over different time periods to retain flexibility. Learn more...
June 7, 2010
Have you or someone you know gotten an offer involving a large check to be deposited into your account and instructions to wire any of that money back, perhaps to someone in another country? If you follow the instructions and wire money out of your account, you may end up owing thousands of dollars to your financial institution. Learn more...
June 1, 2010
If you use your debit card, keep in mind that merchants place a hold or "block" on funds for the transaction as protection against fraud, errors or other losses. If the final purchase price is unknown (for example, when you make a hotel reservation), the hold will likely be for more than you actually spend. The hold will be removed when the final transaction is processed, but until then, you won't have access to that amount in your account. Learn more...
May 24, 2010
Be wary if you get an e-mail, phone call or fax about an "urgent" matter involving your bank account. These kinds of scams are increasingly common. What should you do? Among other things, remember that your bank, credit card company and the FDIC would never contact you asking for personal information.Learn more...
May 17, 2010
Did you know that your salary or government benefits received on a pre-paid card may be covered by FDIC deposit insurance up to the federal limit if the bank fails? These balances are covered if the cardholder is named in the bank's records or certain other documentation. Learn more...
May 10, 2010
Have you been promised help getting money from the federal economic stimulus fund or for direct deposits of government payments? Be careful. It could be a scam aimed at obtaining personal information such as your bank account or credit card numbers. Learn More...
May 3, 2010
Your liability limit for a debit card depends on the situation and your promptness in reporting the lost card or unauthorized transaction. The federal protections for credit cards cap your liability for unauthorized charges at $50. Learn More...
April 26, 2010
Are you or someone you know having difficulty making your monthly mortgage payments? If so, don't be tricked by criminals who charge large upfront fees and falsely "guarantee" to rescue a home from foreclosure. Learn More...
April 19, 2010
You want your documents to be safe, but you probably should not keep your passport, "powers of attorney" or other items you may need immediate access to in your safe deposit box. Learn More...
April 12, 2010
If you or someone you know is late making payments on a loan, a credit card or other bills, be wary of promotions and unsolicited offers by companies that promise to settle the debts for less than is owed. Also, the Fair Debt Collection Practices act prohibits unfair and deceptive collection practices. Learn More...
April 5, 2010
You have tried to resolve a problem with your financial institution, but haven't had much success. Did you know that you can request assistance from the bank's federal regulator? Learn more here if your bank is supervised by the FDIC; or here if it is supervised by one of the other agencies.
March 29, 2010
Take steps to get your tax refund faster and where you want it by having it deposited directly. You have the flexibility to deposit your refund in up to three different accounts at three different U.S. financial institutions. Also, you can now buy a U.S. Savings Bond on your tax return, without having to open an account at the U.S. Treasury Department or take other action. Learn more here and here.
March 22, 2010
If you want your tax refund quickly, consider filing electronically using the IRS "e-file" service to receive refunds in two weeks or less. "Refund anticipation loans" arranged by tax preparers will get you money quickly, but the costs are very high.
Learn More...
March 15, 2010
Those blank "convenience checks" from your credit card company offer a quick way to write yourself a loan, pay bills or transfer other loans to your credit card account, but they often come with high costs and other potential pitfalls. Learn More...
March 12, 2010
New consumer protections mandated by the federal government — a mix of prohibited lending practices and new disclosures — will increase the likelihood that people will find a fair mortgage they can afford for years to come. Learn More...
March 11, 2010
You can protect yourself against a variety of financial frauds and scams by being extremely skeptical of unsolicited offers that involve "updating" or "confirming" personal information or requirements that you send a payment or provide bank account information before receiving anything in return. Learn More...
March 10, 2010
A new law governing credit cards is intended to help protect consumers from abusive fees, penalties, interest rate increases and other unwarranted changes in account terms. Learn More...
March 9, 2010
The Internet offers the potential for safe, convenient new ways to shop for financial services and conduct banking business, but for tips on avoiding identity theft, see the FDIC's multimedia presentation called "Don't Be an Online Victim." Learn More...
March 8, 2010
If you (or your family) have $250,000 or less in all of your deposit accounts at the same FDIC-insured bank, rest assured that those deposits are fully protected because the standard maximum deposit insurance amount under federal law is currently $250,000. You may qualify for more than $250,000 in insurance coverage if you have accounts in different ownership categories. Learn More...
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