Scamming is a common concern today, with many people losing hard-earned money to online hacking, fraud, and phishing. Over 2 million frauds are reported in the country each year. What started off with seemingly harmless spam messages has evolved into phishing emails and malware activity. Further, fraudsters can pose as banks and other financial institutions to get one to divulge confidential information. So, here are a few banking scams to know: 1. Credit card scams Here, one may receive calls from someone claiming to be a representative of their respective card company. They might share a link to let one update their profile or application or even upgrade their credit card. One might even receive calls saying the card issuer is checking for possible fraudulent activity in their account. This is a believable claim, so one should verify the caller’s details, seek official communication from the caller over mail to check credentials, and avoid clicking on any links till then. If one suspects wrongdoing, they should block the phone number of the caller and call the official bank helpline number to verify the details. 2. Check overpayment scams This is a common way of scamming those who participate in online auctions.

A substantial portion of the population today prefers digital payments over any other option. And among the top choices are credit cards. However, digital payments make it all the more important to be careful. A lot of things can slip through the cracks when people do not pay attention to their card usage and spending habits. It is important to break these habits before the credit card bills pile up. Making partial payments Many credit card users have the habit of making partial payments when their bills are generated. Although this is perfectly acceptable with the credit card issuer, the practice can impact the user’s credit score. The interest also adds to the total amount payable during the next cycle. If not paid in full, some credit card bills can take years to clear. Foregoing statement checks It is important that users check their credit card bills regularly. A thorough inspection can guarantee that there are no additional or unnecessary costs. People who do not habitually check their bills might end up paying for expenses that were not made in the first place. It can cause discrepancies and fraudulent activities to go undetected. Paying late Making late credit card payments is another habit that benefits no one.

A debit card makes it easy to access money from the bank or an ATM. One could easily spend what’s in their account without carrying cash or writing a check. However, each bank sets its terms and conditions associated with a debit card. Those who sign up for one online without a second thought might often incur unwanted charges. With this in mind, here are four mistakes to avoid when applying for a debit card. Going for the first available option Several banks offer a series of debit card options to customers. However, in a hurry to get things done, people apply for the first card they see online. Doing so may result in paying higher fees than one should or signing up for features that one does not need. Individuals must always take their time when applying for debit cards to ensure they sign up with a suitable provider. Not reading the fine print One of the common mistakes people make when applying for a debit card online is ignoring the fine print. While a bank may offer a debit card free of charge, it might be conditional on eligibility criteria. For example, one might incur charges if they do not spend a certain amount within the first year, such as $500.

Although the world is shifting to digital transactions, people continue to use checks as a mode of payment. Moreover, many people prefer to secure or guarantee future payments with post-dated checks. However, since checks are not readily available, one needs to know how to order them. This knowledge is especially important for those ordering for the first time. So here are a few ways in which one can order checks to meet their financial needs. Banks If one has a bank account, one can easily order checks. Moreover, if one has previously ordered checks from their bank, they can reorder by visiting the bank’s website. However, those who are ordering checks from their bank for the first time would need to connect with a customer service representative or visit the bank in person for details. To ensure security, one will have to verify their identity by presenting a valid government-issued photo ID. Similarly, one can also order checks from a credit union. Some banks and credit unions like Wells Fargo, Chase, Bank of America, Navy Federal Credit Union, and Ally Bank offer the first few checks for free. Online printers If one wishes to order checks with customized designs, one can easily do so through online check printers.

Freight factoring is a common financial tool to provide immediate funds to trucking companies by selling their shipping invoices to the factoring companies. This provides financial stability to the trucking companies with quick capital. Although this is a popular financial practice, many fraudsters can see this as an opportunity to commit factoring invoice scams. Read on to learn the three facts about freight factoring frauds and how companies can avoid them. Fake invoices to get immediate cash flow Some companies may be experiencing shortage of cash flow. This issue, coupled with the daily expenses, makes the business owner commit factoring invoice fraud. Trucking company owners may create one or more false invoices and submit them for payment to the factoring company, among other legitimate invoices. This is a quick way to get funds and that is why it is an easy way to get funds even though the main intent may be to return them to the factoring company in full. Many low amount invoices may get sanctioned without review, leaving room for fraud. The best way to avoid such a situation is to thoroughly review all the invoices systematically and ensure that the invoice amount corresponds to the services provided by the trucking company.

Personal loans can help with various expenses, such as planning a vacation, further education, home renovation, or even health expenses. These loans can also aid in completing a renovation project instead of abandoning it halfway due to budgetary constraints. However, the loan application process can be daunting and may lead to mishaps that can prove costly later on. Check out some common mistakes to avoid, specifically those with poor credit scores. Not checking score Not checking the credit score before applying for loans is one of the most common loan application mistakes and can prove to be detrimental. It may be so that the credit reports have inaccuracies that further impact the individual’s credit score. So, before applying for a personal loan, checking credit reports for errors and verifying the score from one of the top credit bureaus is recommended. Applying to different lenders simultaneously Another practice that negatively impacts a person’s credit score is simultaneously applying to multiple loan vendors. When an individual submits multiple applications within a short period, it can damage their scores, especially if they are rejected. Each loan application is handled with proper credit checks that can result in temporarily lowered scores. Individuals can instead research beforehand and apply to lenders dealing with poor credit scores.

A new phone can be expensive, especially the latest models. To help finance it, one can avail of several buy now, pay later (BNPL) plans. These plans make big-ticket purchases more affordable. They let individuals get what they want and pay for it later while charging zero interest and minimal fees in many instances. Read on to learn more about the five top BNPL providers and how they can help users finance their next phone. Affirm Buyers can use Affirm to finance their phone purchases. Before approving the claim, the company may perform a soft credit check and consider the individual’s payment history, debts, income, and bankruptcies. Affirm partners with several major retailers and offers pay-in-four and monthly plans to its customers. While its pay-in-four plans are interest-free, the monthly options may have an interest between 0% to 36%. Afterpay Afterpay offers plans that are similar to Affirm’s. Buyers can avail of an interest-free pay-in-four plan or opt for a monthly plan of either six or twelve months for payments larger than $400. Interest rates on the monthly plans may vary between 6.99% and 35.99%. Klarna Klarna is another famous company that has BNPL plans. It tends to be lenient with past customers who have favorable payment histories or ratings.

According to the FICO credit score model, those with a score below 670 are considered to have bad credit. The lower the credit score, the harder it is to get personal loans. However, it is not impossible. There are several lenders who have minimum credit score requirements. Shopping around and researching is one of the best ways to find offers and discover ways to get money with a bad credit score. Here’s how to do it. Check credit report and credit score thoroughly Before starting the process of applying for loans, pull copies of credit reports. These are usually available for free from the three credit bureaus: Experian, TransUnion, and Equifax. Then, review all the information lenders often see while evaluating a loan application. Check for issues or patterns in the credit history, such as closed accounts and missed payments. If there are any errors, get them rectified. Once this is done, take the necessary steps to improve the credit score. Compare lenders and get prequalification Several online lenders offer loans even with bad credit scores. While traditional banks solely rely on credit scores, online lenders look at other criteria along with credit scores while approving loan applications. These criteria usually differ across lenders but often include the applicant’s job, income, and education history.