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Identity Theft

Tuesday’s need-to-know money news

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Zemanta Related Posts ThumbnailToday’s top story: Tax breaks for retirement savers. Also in the news: Surprising tax complaints, how to find cheap airfare, and becoming comfortable with investing using a mock portfolio.

10 tax breaks for retirement savers
How to minimize the taxes on your savings.

The Most Surprising Tax Complaint in America
No, it’s not slow refunds.

Best Ways To Purchase Cheap Airline Tickets
More money to spend on snow globes!

Try a Mock Portfolio to Get Comfortable With Investing
Testing your market skills without the risk.

6 Tips to Plan a Fun and Cheap Super Bowl Party
How to host a big party without spending big bucks.

Tuesday’s need-to-know money news

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Zemanta Related Posts ThumbnailToday’s top story: Why you should pay your credit card bill before it’s due. Also in the news: How to break a bad money habit, what the IRS is doing to prevent identity theft, and how one late mortgage payment can wreak havoc with your credit score.

4 Reasons to Pay Your Credit Card Bill Before It’s Due
Improving your credit score is one of them.

How to Change a Bad Money Habit
Reward yourself for better behavior.

IRS Aims Harder to Protect You Against Identity Theft
New steps to protect tax payers.

Will Obamacare Ruin Your Tax Refund?
Probably not.

How Much a Late Mortgage Payment Can Damage Your Credit Score
A single late payment could pack a wallop.

Tuesday’s need-to-know money news

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Zemanta Related Posts ThumbnailToday’s top story: How best to protect yourself when shopping online. Also in the news: Retirement resolutions for the new year, how to stay disciplined with your money, and how your credit card could boost your retirement savings.

Which is Safer? Paypal Or A Credit Card
With cyber attacks on the rise, which payment method is safer?

5 Retirement Resolutions For 2015
How to keep your retirement plans on track.

4 Ways to Stay Disciplined With Your Money
Tips to help you stay the course.

How to Build Your Retirement Savings Using a Credit Card
Your credit card rewards could help fund your retirement.

How to Reduce Your 2014 Tax Bill By Over $1,000
Contributing to your IRA could boost your refund.

Q&A: Using a separate credit card for online purchases and automatic payments

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Dear Liz: I saw your recent column from the couple upset about the inconvenience of having to reset the automatic payments when their credit card was reissued due to fraud. We had the same problem (our credit card has been reissued six times now!) and got some great advice I’d like to share. We got a separate credit card that is used for nothing but automatic payments and online purchases. It has never been hacked like our other card that we use constantly in the community because we earn airline miles. The last two times our regular card had to be replaced was in the Target and Home Depot hacking, but the other card has been fine so far. We are keeping our fingers crossed. Our issuer has now given us a chip card to replace the constantly hacked one, so I hope we have better luck going forward with both credit cards.

Answer: Several other readers wrote to say they do something similar by using different cards for different purposes, including devoting one to making automatic charges.

It might be wise to have a separate card just for online purchases, however, since the incidence of “card not present” fraud (including online and phone transactions) is higher than that for transactions where the card is physically presented to the merchant.

Tuesday’s need-to-know money news

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321562-data-breachesToday’s top story: The big security threats headed our way in the new year. Also in the news: How to beef up your savings, what millennials should discuss before marriage, and tips on managing your credit cards in the new year.

The Big Scams & Security Threats to Watch Out for in 2015
If you thought 2014 was bad…

7 Ways to Beef Up Your Savings
Give your savings a workout.

4 Financial Issues Millennials Need to Discuss Before Marriage
Putting everything out in the open.

10 Tips for Managing Credit Cards in 2015
How to do a better job in the new year.

How Will You Keep Your Financial Resolutions?
You must commit.

Q&A: Credit card fraud and automatic payments

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Dear Liz: We’ve had three cases of credit card fraud. Each time, the credit card company issued new cards with new numbers and canceled the old ones (along with the fraudulent charges). We had nine monthly auto-payment authorizations set up, and we seethed at the fact that the card company would not offer to authorize our auto-payments via the new numbers. We eventually received late-payment notices and charges, since the old numbers were still on the record with payees. Are there companies that offer updates to payees when cards are canceled, and new ones issued, in such fraud situations?

Answer: Given all the database breaches lately, automatic updates to auto-payments might come in handy.

But it seems you’re on your own. Your agreements with your billers typically state that you’re required to update them whenever a card expires or its number changes. Many billers will alert you when an expiration date is near or if a charge doesn’t go through, but ultimately it’s your responsibility to keep track.

It’s a good idea to keep a list of your auto-payments so you don’t forget to update them all when this happens again. If you don’t have a list, simply checking your past statements should remind you which accounts are on auto-pay.