Choosing Student Credit Card
Credit card terms and conditions vary among different issuers. While shopping for credit card online, think about how you are going to use it. You expect to pay the bills in full every month, or you plan to pay the balance over time? Consider card`s Interest Rate, Finance Charges, Annual Fee, Grace Period for purchases, balance calculation method, etc. Read more... 
Filing Suit and Complaining to Government Agencies
What can I do if my rights under the FCRA have been violated? Where
can I complain?
You may sue a CRA or a company that provides data to a CRA in federal or
state court. If you win, you may be entitled to recover an amount for damages you have
actually incurred or a maximum of $1,000, whichever is greater. You may also recover
court costs and attorney fees. In addition to filing your own lawsuit, you may complain
to the FTC or your state Attorney General's Office. Although government agencies do not
represent individual citizens, agencies charged with enforcing laws such as the FCRA do
investigate reported violations. In most cases, an agency's primary source of information
is complaints from the public.
Manage Credit Debt
Buy it now but pay later. It became the American way. Without any hesitations we can say that a credit card is very useful and powerful tool. However, with the rising amount of American people using credit card or even cards, too much of a good thing can lead to big trouble. Read more... While the FCRA is generally enforced on the federal level by the FTC,
compliance by those who use or furnish information to a CRA may be enforced by other
federal agencies such as the Federal Deposit Insurance Corporation and the Comptroller
of the Currency. Complaints of violations of the FCRA may also be filed with those agencies.
Other federal agencies with authority to enforce the FCRA can be found at the end of this
fact sheet.
Investigative Consumer Reports: Employment, Insurance,
and Rental Housing
How does an investigative consumer report differ from a credit
report ?
Some credit reporting agencies and investigation companies compile what
is known as "investigative consumer reports." Such reports are defined under
the FCRA as a "consumer report or portion thereof in which information on a
consumer's character, general reputation, personal characteristics, or mode of
living is obtained through personal interviews with neighbors, friends, or
associates.". An investigative consumer report is normally used in limited
circumstances including employment background checks, insurance, and rental housing
decisions. An investigative consumer report does not contain information about your
credit record that is obtained directly from a creditor or from you. For example, an
investigative consumer report should not contain information about a late payment.
This type of report cannot be used to grant credit. Because the information in these
reports is so detailed and may be sensitive, FCRA imposes stricter regulations on CRAs
that compile investigative reports (federal FCRA, 15 USC 1681d sections 604, 606, and 614).
Forms of Currency for Traveling
There are several types of currency that you may use while traveling. If you make right choice and take suitable form of currency with you, you can receive the best bang for your travel budget. There are three major kinds of currency travelers carry abroad: checks, credit cards and ATM cards. The option you choose should allow you get the best exchange rates and offer as much convenience and safety as possible. Each form of currency has number of advantages and disadvantages, so you should carefully measure it before making choice. Read more... California 's law that governs background checks is somewhat
different from the federal FCRA. For more information, see www.privacyrights.org/fs/fs16a-califbck.htm . California
has a separate law (CA Civil Code §1785 et seq.) that governs credit checks.
Federal law requires the requester of an investigative consumer
report for employment purposes to obtain permission to conduct the report. An
exception would be, for example, if an employee were being investigated for
possible criminal activity. If the information obtained in the report is used
by the employer to make a negative hiring decision, the employer must give the
applicant a copy of the report. You have the same rights to correct and dispute
inaccurate information in an investigative report as you have in a credit report.
If you want more information on investigative consumer reports
used for employment purposes, see www.ftc.gov/bcp/conline/pubs/buspubs/credempl.htm .
See also PRC Fact Sheet 16, "Employment Background Checks: A Jobseeker's Guide," www.privacyrights.org/FS/fs16bck.htm .
For More Information
General information:
Federal Trade Commission. The federal government
agency that oversees the credit reporting agencies is the Federal Trade Commission
(FTC). It has developed several informative brochures on credit-related topics. If
you have a complaint about a credit bureau, you may report to the FTC online, by mail,
or by calling the toll-free number.
Credit Score - The FICO Score
Your credit score is a value that shows an estimation of creditworthiness calculated according to special statistical models. A credit score quantifies the possibility that a borrower will fail to pay a loan or credit card debt. Credit score is based on the information in your credit report. Read more...
Federal Trade Commission
Consumer Response Center
600 Pennsylvania Ave. N.W.
Washington , D.C. 20580 |
(877) FTC-HELP
(877-382-4357)
TDD (202) 326-2502
www.ftc.gov |
Consumer Action. The San Francisco-based nonprofit organization
Consumer Action provides numerous brochures in several languages on credit-related
topics. This organization also maintains a hotline and provides advice and referrals
on a variety of consumer problems.
Identity Theft Claimed Seven Million Victims
Practically all victims of identity theft don`t reveal this kind of crime for a year or even more. That may happen only after something goes really wrong, because smart thieves used to shield their actions by giving different address when they apply for credit card in a victim`s name. Typically, federal laws cover all losses to consumers, but even in common cases, it takes more than two years to clear victim`s names. Read more... Credit bureaus. The three credit bureaus are
also a source of information. See their addresses and websites above . See also their trade organization, the Consumer Data Industry Association, www.cdiaonline.org .
Major Problems Using Credit Cards
Four major problems may occur in the process of using a credit card: lost / stolen credit cards and identity theft, credit card billing problems, errors in credit statement, defective, damaged or undelivered goods purchased by credit card. Read more... |
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