Great job! Don’t be afraid to share your knowledge with others, they may not know!
#1 I need my social security number for so many things, it’s a good idea to keep my social security card in my wallet so I can show it whenever someone asks for it.
- Always keep your social security card in a safe place, never in your wallet.
- Never give your social security number to anyone unless you need to provide the number for a good reason. They can use that number to open a credit card account or get a loan using your name. The lender will then expect you to pay for the purchases or repay the money.
- Other examples of identity theft include using another person’s name or social security number to open a bank account or to open a cell phone or utility account.
#2 I just got my first credit card, and suddenly I’m getting all kinds of credit card offers in the mail. If I want, I can contact someone to stop sending me this junk mail.
- When you apply for a credit card or a loan, the bank or store collects your personal information such as your address, account balances, payment history, etc. Some of this information is made available to other companies which then use the information to send you solicitations for credit cards and insurance products.
- You can opt out of this sharing by calling (888)5-OPT-OUT / (888567-8688 or online at www.optoutprescreen.com
#3 I just bought my first car and got a loan to pay for it. Some months, though, I have trouble making my payments. If I default on my loan, only this lender will know about it, and some day, if I need another loan, I’ll still be able to get it from another lender.
- When you have a loan or credit card from a bank or other lender, the lender keeps a record of whether you pay back your loan on time. This information is made available, along with information about your other accounts, to other lenders or potential lenders. Your credit history will affect whether you can get a loan or the interest rate that you will have to pay to get that loan. It can also determine if you’re able to rent an apartment or get a job.