According to the Better Business Bureau, an estimated 82,000 U.S. consumers who have used dating sites in the past three years have been scammed by an online romance. These same scammers are trolling Facebook and dating sites, looking for victims. They often claim to be in the military or working overseas to explain why they are unable to meet in person.

How it works

Romance scams typically start with stolen credit cards to build fake profiles. Scammers will steal photos and text from real accounts and build fake relationships with victims as they exchange photos and romantic messages. Just as the relationship progresses, your romantic interest has a sudden emergency or health issue and makes a monetary request. Once the money is transferred, the requests keep coming until the scammer ceases communication.

Tips to spot an online romance scam

Too perfect. Gorgeous profile photos and financial success stories. If they seem too good to be true, think again before proceeding.

In a hurry. Scammers want to leave the site as soon as possible and communicate via email, text or phone.

Taking it to the next level. This person talks about your future together and are quick to say “I love you” and “I’ve never felt this way before.”

Manipulation. Romance scammers will manipulate you by telling you how important trust is, which often happens before making their first request for money.

Unavailable to meet. If your sweetheart always has an excuse for why they can’t meet, this is cause for concern, especially if their excuse is that they are traveling, in the military or live abroad.

Confusing language. Scammers often use poor spelling and grammar and phrases that don’t make sense.

Sob stories. Before asking for money, the scammer will talk about being down on their luck financially. They will cite everything from home issues to a family death as the reason.

Click here to read a set of scripts provided by the Better Business Bureau that were used in actual romance frauds.

Protect yourself from a romance scam

The FBI offers the following tips to help avoid falling victim to an online romance scam.

• Research the person’s photo and profile using online searches to see if the material has been used elsewhere.
• Go slow and ask lots of questions.
• Use caution if the individual seems too perfect or quickly asks you to leave a dating service or Facebook to go “offline.”
• Beware if the individual attempts to isolate you from friends and family or requests inappropriate photos or financial information that could later be used to extort you.
• Pay attention if the individual promises to meet in person but then always comes up with an excuse why he or she can’t. If you haven’t met the person after a few months, for whatever reason, you have good reason to be suspicious.
• Never send money to anyone you don’t know personally.

Suspect an online relationship is a scam? Stop all contact immediately. If you are the victim of a romance scam, you can file a complaint with the FBI’s Internet Crime Complaint Center.

In addition to credit repair, BetterCredit now offers identity protection services. Click here to have a specialist contact you.

The post How to Spot an Online Romance Scam appeared first on Better Credit.

Our advice? Don’t say yes when your credit card says no.

We all like to be there for our friends. It feels good to buy them a drink, treat them to a massage or gift the perfect wedding present. But even if you’re the maid of honor or best man, that doesn’t mean you should go overboard — like offering to pick up the open bar tab the night of the wedding or spring for the honeymoon (believe us, at BetterCredit we’ve heard it all) — especially if you don’t have the funds to do so.

Resist the Urge to Ruin Your Credit

If you feel obligated to cough up a little more cash when your bestie says, “I do,” to their soulmate, try to minimize the impact on your credit. There’s no need to choose the most expensive gift on the registry or buy the entire bachelorette party a round of the priciest handcrafted cocktails at that fancy speakeasy. Instead, consider upping the wedding gift just a notch or chipping in a little more than your share at one of those celebratory dinners. After all, you’re probably already springing for flights, other travel costs and attire.

And even if you’re not financially savvy, with the number of money management apps and travel apps available on your phone nowadays, it’s easier than ever to budget your finances and compare the best rates for everything from flights to rental cars to hotel rooms.

Either way, when all is said and done, the newlyweds will still love you simply for showing up to their special day, and your credit will thank you.

Side Note

Maybe you’ve already attended your share of weddings, found excitement in being the first one to pull out the plastic and noticed your credit score is consistently decreasing. Our BetterCredit specialists can help repair your credit and boost your credit score. Get started today with our free credit planner or contact us for your free credit consultation.

The post Are Friends’ Weddings Ruining Your Credit? appeared first on Better Credit.

Searching for the best credit management apps to help manage your credit when you’re on the go? We’ve rounded up our favorites, downloadable straight to your iPhone or Android. From monitoring your credit to budgeting your finances — there’s a credit app for that. We’re not saying these apps will change your life overnight; but over time, they may help get you get out of debt, reduce stress, spend your money the right way and help you sleep a little better at night.

Credit Karma provides important updates with credit monitoring, ID monitoring, personalized money-saving recommendations, report monitoring and credit review tips. And just in case you’re wondering about those “mysterious” factors that go into the calculation of your credit score, Credit Karma breaks it all down for you. If you find errors on your report, you can use the app’s “Direct Dispute” option. Available on iPhone | Android

Mint manages your finances by helping you create budgets, track and pay bills and check your credit score, plus get tips on everything from spending to boosting your credit score. Mint makes it easy to see what you’re spending and where you can save money, all in one place. Available on iPhone | Android

Prism allows you to keep track of all your bills, make payments and avoid late fees. Prism also protects your credit score and reduces debt. Available on iPhone | Android

YNAB is a budgeting software app that helps you stop living paycheck to paycheck. This app assists with budget creation, helps free you from debt and allows you to save more money. YNAB offers a four step process to help you take control of your finances. Available on iPhone | Android

Empower puts you in charge of your money and helps you make better financial decisions. It sets you up with a plan to build wealth, crush debt and track your finances in one place. Available on iPhone | Android

Your credit score matters. Whether you need help boosting your credit score, repairing your credit history or protecting your identity, contact BetterCredit today.

The post There’s A Credit Management App For That appeared first on Better Credit.

That vacation you’ve been dreaming about is finally here. You’ve slaved over the itinerary, booked your stay at an amazing hotel and are all set to go. The last thing you want to worry about is your identity being stolen.

More than 17 million U.S. residents experienced identity theft in 2014. With identity theft at an all-time high, take these simple steps to protect your identity when you travel.

Before You Go

• Put your mail on hold

Stop by your local post office and ask for a “hold mail” form, call the postal service at 800-275-8777 and ask to schedule a mail hold over the phone or fill out the form online. You can also ask a friend or neighbor to hold your mail for you.

• Set up a travel notification

You can avoid having your debit or credit card denied at the register by setting up a travel alert with your bank. You will want to call your bank and credit card companies to notify them that you’ll be traveling or set up a travel alert on your bank website or mobile app.

• Travel light

If your luggage is prone to getting lost or stolen, pack lightly to avoid having your favorite items go missing.

As Rick Steves says: “Remember, in your travels you’ll meet two kinds of tourists — those who pack light and those who wish they had. Say it out loud: ‘PACK LIGHT PACK LIGHT PACK LIGHT.'”

• Leave your checkbook behind

Do not pack your checkbook, social security card or unnecessary credit cards when you travel. Bringing these items on your trip increases your chances of having them stolen and therefore reduces your ability to protect your identity.

• Install “Find My Phone” app

Whether you own an iPhone or Android and just forgot where you left your phone or had it stolen, there’s an app to help you find it. Download the appropriate app for your phone on iTunes.

• Buy a money belt

Pick-pockets are everywhere and have several tricks when it comes to stealing from you. Sometimes they dance and sometimes they engage in conversation. Protect your ID, passport, credit cards, travel insurance and cash with a money belt when you travel. You’ll find the latest and greatest money belts on Amazon.com.

• Hold off on social media photos

We know the desire to tell everyone you’re going on vacation is high. However, with identity thieves trolling the internet, consider either creating a shared photo album with family and friends or hold off on sharing photos on social media until you return from your travels.

While Traveling

• Use cash when possible
• Use ATMS located inside bank lobbies
• Use secure internet connections
• Don’t leave important documents or financials laying around
• Lock your phone
• Take advantage of the hotel safe for important documents and items

Post Travel

• Check your bank and credit card statements
• Check your credit report for accuracy

Did you know: You are entitled to a free report every year from www.annualcreditreport.com?

If you find that you need to improve your credit score, read our latest blog post for tips to Get Your Credit in Shape. 

The post Protect Your Identity When Traveling appeared first on Better Credit.

The majority of us get inundated with advice on the daily, and we bet you’ve received plenty when it comes to your credit. Just how much of it ranks as the worst credit advice?

To help answer that question, we reached out to a group of 30-somethings who had some pretty wild responses. Suffice it to say: if you’re looking to improve your credit, try to steer clear of this bad credit advice.

1.     Never pay anything on credit — only use cash. For everything. All the time. Period.

“If you’re someone who blows through cash quickly, keeping it in your wallet at all times is risky. Cash is bulky, it can take too long to sort through when you’re making a purchase and it’s easily stolen. Cash is good to have on hand if you come across a group of Girl Scouts selling cookies (because who can resist a box of Thin Mints?) but I don’t agree about using it for absolutely everything. You definitely can’t do your online shopping or build up your credit score with cash.”

2.     Max out your credit cards to prove you can pay the balance off.

“I originally thought this was solid advice. I remember always being home on time for curfew when I was a kid, and because I built trust with my parents, they extended my curfew by 30 minutes. I thought that this would work the same way with credit card companies. But I learned that using all of your credit limit every month can actually hurt your credit score and bring it down 10 to 30 points.”

3.     Open multiple credit cards if you carry debt because the revolving credit available will be high.

“This just sounds like a bad idea in the first place. I can’t remember who was responsible for giving me this piece of bad credit advice, but I do know that you shouldn’t follow it and I can give you two reasons why.

1. If you open several cards at once, your credit score can drop. Every time you apply for credit, the lender will check to see if you are credit worthy and a hard inquiry will be generated on your credit report. If you already have a bad credit score, these points can hurt.
2. The higher your credit limit, the more spending you can do and the more that you spend, the more debt you’ll have if you’re unable to pay it off.”

4.     Make home improvements on a credit card instead of taking out a home equity loan.

“I can think of at least 10 ways to pay for home renovations. Unless you’re making a very small renovation or you’re only paying for materials in order to get credit card points, you won’t want to use your credit card. A home equity loan offers a much lower interest rate because it is backed by the equity of your home.”

5.     Create a credit history by assuming credit card debt.

“The last thing I wanted to do was rack up credit card debt and not be able to pay it back. The easiest way for me to establish credit was to apply for a secured credit card, which works like a typical credit card but is secured by a deposit. You can’t spend more than what’s in the account, so your only responsibility is to make timely payments.”

6.     If you max out your credit cards and can’t pay it back, go off the grid.

“This is quite possibly the worst piece of credit advice I’ve received to date and sounds like something straight out of a movie. Yes, max out your credit cards and go into hiding. Or better yet, max out your cards and leave the country.

Definitely do not max out your cards and run for it. The credit bureaus will still keep track of your credit score regardless of where you are.”

7.     Open credit cards when as a college student just because someone offers them to you.

“I was young and naïve and got suckered into opening up credit cards at those tables outside of the UCF Student Union. I really regret not reading the fine print about having to pay annual fees and a 29% interest rate. Not only did I graduate college with student loans, but I also racked up some amazing credit card debt as well.

New DSLR camera – check.

New bed – check.

Spring break trip to Costa Rica – check.

My credit card bills were way too high for my tiny hostess salary.”

The best advice advice they received: “If you save more than you spend, you’ll always be rich.”

The post Are You a Victim of Bad Credit Advice? appeared first on Better Credit.

If you have experience removing a collection or a late payment, you will recall it didn’t take too much effort. Removing a foreclosure from your credit report isn’t always that simple. Use the three steps below to begin the removal process. If for any reason you’re unable to remove the foreclosure, contact Better Credit. We continue to have successful results helping clients get remove a foreclosure from their credit reports.

Step 1: Verify Your Report Is Accurate

Check your credit report from all three credit bureaus: Transunion, Experian, and Equifax. Look for the foreclosure entry and verify the information is accurate.

Check for Errors

It is common for banks and lending institutions to make mistakes on credit reports. Ensure that you review your credit history carefully and remove any errors as quickly as possible. You may find that it is easier to remove a foreclosure older than seven years than a foreclosure entered 12 months ago.

BetterCredit advises you to contact the issuer immediately and request that they remove the foreclosure from your record. They will likely require you to submit formal documents. Get clarity on exactly what they are looking for, and if necessary, request that they email you any documents you need to fill out.  

The entire process can be hard to restart your credit history and restore your live post-foreclosure. If you face difficulty with getting approval for necessities, contact Better Credit today and speak with one of our credit repair experts.

Look for the following items:

• Date opened
• Lender name
• Current Balance
• Account number
• Additional errors

Write down any details that are incorrect, then file a dispute with each of the credit bureaus. Within 30 days of submitting your dispute, these agencies will verify your information and correct any errors.

Step 2: Request the Financial Institution Remove the Foreclosure

Some of our clients find that the credit bureaus do not move forward with removing foreclosure entries from their credit reports. If you are in the same situation, contact the lender and demand they remove the foreclosure from your report. After 30 days, review your report, and if they have not removed the entry, move on to step 3.  Sample letter here.

Step 3: Seek Help: Use Better Credit

The longer a foreclosure is on your credit report, the riskier it appears to lenders. You may be similar to the majority of our clients who are in a hurry to get foreclosures off their report. For this we suggest you check out what BetterCredit can do to remove a foreclosure from your credit report.

Understand that your daily life is a direct reflection of your credit score. If your credit history reports several a foreclosure, along with delinquencies the longer you are at risk for:

• Unfair hiring practices – employers weed out candidates with low credit scores
• Higher/lower insurance rates – based on your credit report
• Approval/disapproval for utilities  
• For other services – internet, cable, cell phones, etc.

Another common practice is for landlords to screen potential renters based on their credit report. This factor can create a difficult situation for renters to find an adequate environment to live.  

Foreclosures can create multiple challenges beyond the initial foreclosure. Moving into a new home or apartment requires a credit check and approvals for water, garbage and electricity — all of which are based on your credit score.

[Photo credit: Alpha Stock Images http://alphastockimages.com/]

The post Remove a Foreclosure From Your Credit Report appeared first on Better Credit.

1. Get Your Credit In Shape By Checking Your Credit Report

What you don’t know actually can hurt you. If you’re seeing questions marks when you think about your credit score, make it a priority to find out by requesting a free report from the three credit bureaus — Experian, Equifax and TransUnion — by signing up at www.ftc.gov or www.annualcreditreport.com. BetterCredit recommends that you check your credit score at least once a year.

2. Understand Your Report and Dispute Any Errors

Read through each item on your report for accuracy. If this is your first time requesting a credit report, understand that the bureaus keep your information separate from one another and verify that all three bureaus report current and accurate information. If you have an extensive credit history, ensuring that your credit report is free of errors may take time. 

3. Automate Your Bills 

We’re all busy. We have families, jobs, school, appointments, errands and — our least favorite — bills. One of the easiest ways to get your credit in shape is to set up automatic payments with your bank. Whether you automate all or some payments is up to you. For those bills that you do not automate, consider creating a calendar reminder to ensure payments are made on time.

4. Trim Spending Habits to Pay Credit Card Debt

Are there areas where you can reduce your monthly expenses? One of the most effective and fast routes to improving your credit score is by reducing your credit card balances. Trim your spending habits by reviewing your bank and credit card statements from the last few months and crossing out all non-essential expenses. Also check that your current subscriptions and memberships (gym, magazines, podcasts, meal delivery services, etc.) are still relevant. Use the extra funds to start paying off your debt. Tip: Start with the card with the lowest balance. 

5. Contact BetterCredit and Speak with an Expert

Need help taking action or at any point along the way? BetterCredit will work with you and your creditors until we can make major improvements to your credit score. From making phone calls and sending letters to multiple companies on your behalf, we save our clients both time and money while increasing their quality of life.

Make a plan to get your credit in shape in 2018. Call BetterCredit today at 800-800-4142 for your free consultation.

The post Your New Year’s Resolution: Get Your Credit in Shape appeared first on Better Credit.

1. Check your statement monthly

Even if you know exactly what you’re using your credit card for, make it a point to review your statement once a month. This is a good way to spot erroneous or fraudulent charges that you otherwise might have missed. It also helps to have a better sense of awareness about what you’re purchasing and where you can cut back on nonessential items or services.

2. Pay your balance in full

Pay your statement balance in full each month if you can afford it. This is the easiest way to avoid interest and fees. If you happened to rely on your credit card a bit more than usual, that’s okay – but aim to make more than the minimum payment, at the very least. When you pay even just a little more than the minimum, you’ll ultimately pay less interest over time.

3. Use rewards wisely

Chances are, you can find a card that caters to your spending habits. If you enjoy traveling, consider signing up for a card that rewards your spending with points toward your next vacation. Some cards offer cash back on certain purchases, like gas, while others provide a flat percentage of cash back on all purchases. Make sure you research the card that offers the best benefits for the areas you spend on the most – adding up to more money back in your pocket. The catch? Be careful not to use your plastic on frivolous purchases just so you can snag that reward.

4. Keep accounts open

Many people make the mistake of canceling their cards once they’ve paid them off. Unfortunately, that can actually damage your credit score. Tuck that balance-free plastic away and make it a point to use at least once a year so you won’t run the risk of having the card company cancel it.

5. Use technology to your advantage

Today banks and credit card companies aim to ease the payment process for consumers with a number of online tools. It’s a good idea to sign up for an auto-pay option that allows you to pick the date and amount of your credit card payment each month. Most companies will also offer email and text reminders when your payment date is approaching, so you can make sure you will have enough in your account to cover the transaction. You can download an app on your smartphone to check your statements, set up payments and remain a responsible credit card user over time.

Credit cards are a powerful tool for building credit. At BetterCredit, we want to help you harness that power for good. Contact us today to learn how we can help you take back control of your credit card debt and spending to reach your financial goals.

The post Five Ways to be Responsible with Your Credit Card appeared first on Better Credit.

If you want to enhance your credit score score, it won’t happen in one day. In this article, BetterCredit explains how to improve your credit score in the following ways.

The fact is, your credit score score isn’t like a race car. You can’t just rev the engine and immediately get to a higher score.

Instead, your credit score ratings are more like your driving record: The credit companies consider the history of your credit in order to compute your credit score, not only your present actions.

7 Steps to Elevate Your Credit Score

1. Watch your credit card balances
2. Eliminate credit card balances
3. Remove old debt from your report
4. Use your calendar
5. Pay bills on time
6. Don’t hit the limit
7. Better Credit will help improve your credit score

1. Watch Your Credit Card Balances

One of the most important factors for your credit score rating is how much revolving credit you have versus how much you’re using. The smaller that percentage is, lenders will view your credit rating in a better light.

Your goal should be to have lower than 30% of your available credit in use.

To improve your score, pay down your balances and maintain an overall low balance. If you have more than one credit card, consolidating them with a personal loan may increase your score.

Recognise that even if you pay balances in full every month, you may have a higher utilization ratio than you’d anticipate. That’s because some issuers use the balance in your statement as the one they send to the credit bureau. Even if you’re paying balances off monthly, your credit score will nonetheless weigh by your month-to-month balances.

One method: See if the credit card company will allow you to submit a couple of payments throughout the month.

2. Remove Credit Card Balances

An amazing way to enhance your credit score rating is to eliminate your balances. One of the ways companies like Equifax determine your score is by how many cards you have versus card balances.

If you have several cards with high balances, you’ll end up being charged a lot more each month. This formula can harm your credit rating.

The solution to enhance your credit score is to either begin paying off all of the small balances or pay the cards with the highest interest rates. Some find it helpful to consolidate all the balances into one monthly payment.

You’ll need to discuss all of your options with your accountant or with your financial advisor.

If you can’t find the money to pay these small balances off immediately, consider moving them to a credit card with the lowest interest rates available.

3. Leave Old Debt On Your Report

Some people overwhelmingly agree with that old debt on their credit report is terrible.

The minute they get their car or home paid off, they’re looking to get it eliminated from their credit score report.

Items that negatively affect your credit rating typically disappear from your record after seven years. If it has been over seven years and you find old debts still on your credit report, we recommend that you contact those companies and request they remove them.

Another way to improve your credit score score, once you’ve removed old debts is to keep accounts open where there’s available credit not in use. This also increases your credit to debt ratio and enhances your creditworthiness.

4. Use Your Calendar

In case you’re looking for a home, vehicle or student loan, it benefits you to find the best rates.

Anytime you consider financing a purchase think of your credit score well in advance. How will you be affected long-term? Multiple purchases on your cards can benefit if you keep the above information in mind.

Your FICO rating, a credit score commonly utilized by lenders, ignores inquiries made within the last 30 days. It reports on missed payments which are older than 30 days, it then takes an average of the shopping period as just one inquiry.

The period of that shopping length depends on the credit score rating used.

If creditors are using the most up-to-date types of scoring software, then you have forty five days before a report is submitted to the credit bureaus.

5. Pay Payments On Time

If you’re making plans for a large purchase, you’re likely planning to make a large down payment.

If you’re planning to make payments, we recommend you set a date on your calendar to ensure the payments are made on time. Most of our clients set up automatic payments with their bank.

Despite the fact that a company may not report a late or missed payment to your creditor, they may send the missed payment to collections. If this happens, the unpaid bill will be placed on your credit history report, which ultimately reduces your score.

6. Don’t Hit The Limit

We all know that things happen. One day your credit card balances are very low and an unexpected event requires you to use almost every card you own.

These events not only weigh heavily on your mind, but can have a major affect on your credit report.

If you find that you’re unable to pay off your high credit card balances, call your credit card companies and explain your situation. They might be able to work with you or at the very minimum give you information on what you can do to decrease your balance.

7. Better Credit Will Help Improve Your Credit Score

Once you’re ready to improve your credit score, get all of the information you can about any unpaid bills or missed payments. When you have all of the documents in front of you, you are able to

decide what’s accurate and what items need to be disputed.

Many of our clients find that there are several entries on their report that can be disputed and removed from their records.

At BetterCredit we work with you and your creditors until we’re able to make major improvements to your credit score. We save our clients time and money, and significantly increase their quality of life.

We call and send letters to multiple companies on your behalf, which works consistently for each of our clients. Since several things make up your credit score, it’s necessary for companies like BetterCredit.com, who understand the regulations, to speak with them directly.

Did you know? Every year you’re entitled to a free report from each of the three credit bureau companies (Equifax, Experian and TransUnion) through AnnualCreditReport.com.

Better Credit is ideal for anyone who believes their credit history has been negatively affected. If you’re concerned that a low credit score is preventing you from obtaining better interest rates for large purchases, contact us today.

The post 7 Steps to Improve Your Credit Score appeared first on Better Credit.

What do you know about credit repair companies?

The current U.S. debt is over $20 trillion dollars. With that much debt, it’s no wonder credit repair companies are becoming a necessity for many families. In fact, the average U.S. family has $8,733 in debt. If you need to quickly repair your credit history, leading credit repair companies such as BetterCredit can help.

Credit repair companies like BetterCredit look at your score, credit card history, loans and reports that contribute to your score. With that information, they’re able to contact your past or current lenders to request more information.

Once a negative item is placed on your credit report, it may take up to seven years before a company will consider removing it — if they do at all. It’s up to you to contact them and request that they remove any old negative information from your credit report.

Why Credit Repair Companies Work So Well  

Credit repair companies work very well because they have the power to consistently follow up with your current and previous lenders. These companies work diligently to send documents and make phone calls on your behalf.

Over the span of a few weeks, credit repair companies can navigate through the complex credit reporting industry and fight for you. The end result is an improved credit score.

How Fix Your Credit Within 6 months

Better credit continues to be a leader in the credit repair industry. In fact, the average client’s score can increase by hundreds of points in as little as 6 months.

It’s completely possible for you or someone you know with questionable credit to completely restore their credit history significantly. If you’re planning to make any major purchases within the next 12 months, it’s a good idea to begin working on increasing your credit score now.

Once you begin to see your score improve, it’s ideal to review your current credit cards and decide which cards you can immediately pay off. What most of our clients do is start with either the card with the lowest balance or one with the highest interest rates.

If you’re uncertain where to start, we suggest you speak with your accountant or a financial adviser for more advice. In our experience, the sooner you’re able to reduce the amount of outstanding debt you have, the greater your score will increase.

Many of our clients can save money each month by negotiating new credit terms once their credit scores are higher. With the money they save each month, they’re able to pay more towards any open balances further reducing outstanding debt.

How To Improve Your Score With BetterCredit

By now you see the value you’ll gain from using a credit repair company. Butt you may require just a bit more information on how to get started. In that case, we suggest contacting BetterCredit and speaking with one of our credit repair experts. We’ll start working immediately to improve your credit.

As a valued client of BetterCredit, you’ll be able to monitor your score daily in our member’s area. With your unique access code, you can watch the progress we make as your credit score increases. Contact BetterCredit today and speak with one of our credit repair professionals.

The post Credit Repair Companies are a Necessity appeared first on Better Credit.