Family First CU Blog
Relax with our VISA Balance Transfer
A Family First Credit Union VISA is a great way to consolidate those high interest rate payments that are still lingering from holiday shopping.
Over all, the credit card debt will be paid off sooner allowing you to save for something you really want.
Benefits of consolidating your debts.
- No balance transfer fee to transfer balances to a Family First Credit Union VISA.
- Easy to manage payments – one single payment simplifying your finances.
- High interest rate credit card payments will be gone, saving you money on interest.
- Boosts credit score over time.
Start Each Day Refreshed and New!
Motivation is what gets us out of bed in the morning. We are motivated to work through the week for our families, homes we live in, cars we drive, and the fun vacations we look forward to. Motivation also drives us to do the impossible.
So why is it so hard to get motivated some days? Here are some quotes that might just help you through your day. Remember everyone is going through something, and maybe your motivation can help motivate them as well.
- “People who are crazy enough to think they can change the world, are the ones who do.” (Rob Siltanes)
- “You learn more from failure than from success. Don’t let it stop you. Failure builds character." (Unknown)
- “Creativity is intelligence having fun.” (Albert Einstein)
- “Security is mostly a superstition. Life is either a daring adventure or nothing.” (Helen Keller)
- “One of the lessons that I grew up with was to always stay true to yourself and never let what somebody else says distract you from your goals.” (Michelle Obama)
- “There are no limits to what you can accomplish, except the limits you place on your own thinking.” (Brian Tracy)
Here are some ways to increase your credit score
Credit scores are used by lenders to estimate credit risk. People with higher credit scores are often rewarded with more favorable terms, including lower interest rates on credit cards and mortgages. Typically, those with lower credit scores can be penalized with less favorable terms and significantly higher interest rates. Achieving and maintaining a higher credit score requires an understanding of how the scores are calculated and what factors can negatively impact the scores.
- Know what’s on your credit report – request your free credit report and check it for errors
- Make payments on time – 35% of the Credit Score is based on payment history – pay them early
- If you're new to credit do not open a lot of credit cards or loans at one time, multiple credit inquiries in a short period of time, may reduce your credit score
- Have more that one type of credit – for example have a credit card, auto loan, mortgage, or a secured loan
- Closing an account doesn’t take that account off the credit report. If you pay the balance off every month it has to be done before the due date or the balance that is on there will be the balance that is reported to the credit bureaus can decrease your score
- Pay your bill before the closing date – you will need to look at your individual statements for the individual closing dates
- If you are unable to pay off your balance each month, pay twice a month to decrease the principle faster
- If you are able to increase the available balance on your credit card and not use it, this will increase your credit score by keeping the outstanding balance, within a third of the amount available balance, which helps increase your credit score
- Watch your balance available - keeping your balance near your available credit limit will decrease your score
For more information, please call us at 989-759-1686 ext. 503.
Get your annual free credit report at:
Transunion - https://www.transunion.com/
Equifax - https://www.equifax.com/personal/
Experian - https://www.experian.com/
What is SMISHING?
“Smishing is the fraudulent practice of sending text messages purporting to be from reputable companies in order to induce individuals to reveal personal information, such as passwords or credit card numbers.” It is a criminal’s way of using phishing and texting to gain personal data such as social security numbers and other private information.
How do you protect yourself against it?
First know who is sending a text message to you. If it is to good to be true then its not safe.
- Be aware of urgent security alerts, and you-must-act-now coupon redemptions these are warning signs that someone is SMISHING.
- A financial institution or merchant will not send a text message that asks to verify your account information, confirm an ATM pin number. If you get a text like this and you are unsure call your financial institution. It is not wise to reply, click on links or call the number in the text.
- Beware of suspicious phone numbers. Phone numbers that look off and are not a mobile number or strange area codes like 473 which is not a US area code. Phone numbers ending in “5000” these numbers are linked to a scammers email and not their phone.
- Never click a link or phone number in any message you unsure of.
- Do not store credit card or banking information on a smart phone.
- Do not respond or be tempted by these scammers.
There are layers of security:
- Device protection – set up for remote data “wiping” if the phone is lost or stolen.
- Data protection – stops the sensitive information from being transferred over different networks.
- App-management security – the apps have their own information programed in and have there own built in security to ensure information within the apps are safe.
Report all smishing attacks to the FCC to try and protect others and yourself in the future.
PayPal Phishing: “Your Account is Limited”
A PayPal smishing campaign is trying to trick users into handing over their credentials and personal information, BleepingComputer reports. The text messages state, “PayPal: We've permanently limited your account, please click link below to verify.” (Note, by the way, the poor command of English idiom. The message includes a comma splice and there’s some uncertainty about the use of articles.)
The link in the message leads to a phishing page that appears identical to PayPal’s login portal (although the URL is clearly different). If a user enters their credentials and clicks “Log In,” they’ll be taken to a second phishing page that asks them to enter their name, address, and bank account details. All of this information will be sent to the attacker.
BleepingComputer says users should be wary of any unsolicited text messages, especially if they contain a link. PayPal does limit accounts when it detects suspicious activity, but you can check the status of your account by going directly to paypal.com instead of clicking on a link in a text message.
“Smishing scams are becoming increasingly popular, so it is always important to treat any text messages containing links as suspicious,” BleepingComputer writes. “As with all phishing emails, never click on suspicious links, but instead go to the main site's domain to confirm if there is an issue with your account.
The publication also offers advice for people who may have fallen victim to this attack, urging them to be on the lookout for future social engineering attacks that incorporate their personal information.
“If you received this text and mistakenly logged into your PayPal account or provided other information, you should immediately go to Paypal.com and change your password,” BleepingComputer says. “If you use that same password at other sites, change them there as well. Finally, you should look out for other targeted phishing campaigns using the submitted data. BleepingComputer also suggests that you monitor your credit report to make sure fraudulent accounts are not created under your name.”