Sneak Peek: ScoreSense Blog Redesign

Posted on May 8th, 2013

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Sneak Peek! – New Blog Coming Soon…..

Here is a sneak peek of our newly redesigned blog.  We should be going live with this in the next few weeks.  Besides a new look and feel, here’s what we are doing to improve your experience;

1. The blog will now be responsive for our audience who enjoys viewing content on tablets and/or mobile devices. 
2. We’ve added a “Suggest A Topic” section so you can recommend specific topics you’d like us to research and discuss.
3. We will be opening up the blog for comments so we can have ongoing discussions with our users.
4. Categories will be color coded in an effort to make it easier for our users to find the content that most interests them.
5. Enhanced sharing capabilities will allow our users to share content in many different ways.

We are still working on additional features and functionality.  Once we go live, we’d love to hear from our users on how we can continue improving the overall experience.

ScoreTracker from OTL ScoreSense

Posted on March 25th, 2013

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One of the many benefits of a membership to OTL ScoreSense is that you have access to a variety of credit score tracking tools and programs, one of which is ScoreTracker.  ScoreTracker is a valuable visualization tool that enables you to see all three of your credit scores – from Experian, TransUnion, and Equifax – in real time.  The results are displayed for you on a single graphic, with the past 12 months of credit scores displayed.  When you become a member of OTL ScoreSense and go to the website at otl scoresense.com, you can access this graphic at any time.

When you access the ScoreTracker display, you will see a trend of all three of your credit scores displayed simultaneously on one graphic.  The graphic will show a yearlong trend for each score, so you can track your progress  as a result of using the other services available from OTL ScoreSense, like ScoreSense fraud alerts, identity theft monitoring, ScoreTracker, Identity Score and Identity Report, and the library of learning tools, among other resources.  If you need more information about these or any other programs available through ScoreSense, contact the Customer Care team.

ScoreTracker can be used as a standalone feature, but by itself it will not help you reach your goals.  The program is designed so that as you improve your credit scores using other OTL ScoreSense credit-monitoring services, you will be able to see all three of your scores rise, showing the progress you’re making in achieving and maintaining financial stability.  ScoreTracker works hand in hand with ScoreCast, another exclusive program offered by OTL ScoreSense that displays your present credit scores and lets you see how changes to your financial situation – like paying off a credit card, buying a house, or missing a payment – can affect your scores.  When you see how making a major decision can affect your credit, you can make moves that will only serve to improve your scores.  When that happens, the ScoreTracker program will show the upward trend you’re setting with all three agencies.

Every time a new piece of information is added to one of your credit reports, your credit score will change.  With three reporting agencies, that means that one piece of bad or misrepresentative information can change three scores, creating the potential to hurt you financially three different ways.  OTL ScoreSense wants you to be aware of that fact, and has created ScoreTracker as a way to help you see what’s happening to not only your scores but to your overall credit worthiness as well.  Although you always have access to your credit scores at OTL ScoreSense, you will only see the current number being reported. The only way to know what the numbers have been in the past is to track them all yourself, or use ScoreTracker.

You don’t just get access to ScoreTracker and ScoreCast with your subscription to ScoreSense.  Fraud alerts, identity theft protection, Identity Score, Identity Report, and many other features and benefits are at your fingertips.  For more information on any of the programs or services offered by ScoreSense, contact the Customer Care team.

To learn more about the ScoreTracker and ScoreCast programs available at OTL ScoreSense, visit us at www.scoresense.com

Debunking the Free Credit Score Without Membership

Posted on March 7th, 2013

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Consumers searching for a free credit score or report often turn to businesses that offer a free credit score without membership in a credit monitoring service. Or they try to obtain a free credit score without credit card or membership obligations. They may be cheating themselves.

For a legitimate business such as ScoreSense, credit score offers are made to encourage membership in a credit monitoring service. The service provides tools designed to improve credit scores and protect the consumer against fraud and theft. Getting a free credit score without membership in the service is like going to a potluck dinner and not bringing any food.

A business has to make money somehow when they offer a free credit score. Without membership in a credit monitoring service or similar business model, they can’t generate income and will eventually close. When you receive solicitations offering a free credit score, ask yourself, how is this company making money? Sites offering a free credit score without any other strings attached may be a front for identity thieves.

Likewise, you will be unable to get a free credit score without credit card information being shared. Companies that offer such a service need the information as part of the process of verifying your identity before they release information. A legitimate business might require a nominal fee to confirm the account and information is valid.

Rather than trying to find a way to get a free credit score without membership obligations, take the time to learn about the membership services provided. You usually get a week or so as a trial membership. If you don’t see the value after using the services for a while, then cancel the membership.

But don’t expect to find someone just handing out free credit scores from the consumer credit reporting agencies. These large, multinational companies are highly regulated and very protective of the information they sell. Remember, those credit scores may be free to you, but someone paid to get them, and they did so expecting to make a profit.

Rather than searching for free credit scores without membership offers, find out more information on managing your credit with ScoreSense, visit www.scoresense.com today.

What ScoreSense Fraud Protection Includes

Posted on February 25th, 2013

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Identity theft has become a big problem in recent years, but with ScoreSense, fraud doesn’t have to damage your credit. There are many ways someone can steal your good name, access your accounts, and ruin your credit score; however, with the vigilant account monitoring offered by ScoreSense, scam artists don’t stand a chance. With ScoreSense, fraud protection takes a three-pronged form:

• ID Score is an analytic tool, with which ScoreSense reveals your risk of identity theft. Once you know your level of risk, you can take steps to lower it. It’s always good to take commonsense steps like shredding sensitive documents, and not using credit cards to make payments online from an a unsecured computer. Having someone watching over your accounts increases your security immensely.
• Identity Report provides all the facts about your risk. It’s like a rip-off report, detailing all the areas where you’re vulnerable to attack. ScoreSense fraud protection means the company searches the Internet, payday loan records, and criminal and public records, to find potential threats and keep you informed.
• Identity Alert is the third arm of ScoreSense fraud protection. Learn immediately about suspicious activity before it ruins your good name. ScoreSense can send alerts whenever a change of address, payday loan, or criminal record appears in your name.  With Identity Alert, you know immediately if someone has misused your name or your credit information.

There are many ways your credit can be compromised. Some thieves go through your trash, looking for account numbers you’ve thrown away without shredding, while others are brazen enough to steal credit card applications right from your mailbox and open accounts without your knowledge! Often, all it takes is an unscrupulous clerk or waiter, who copies your credit card number and uses it for fraudulent purposes. Identity theft is frightening, but with ScoreSense, fraud doesn’t have to be one of your concerns. Whether it’s credit card fraud or some other misuse of your sensitive financial information, ScoreSense keeps you informed, helps you prevent it, and helps you fix your credit.  If you’d like more information on credit management with ScoreSense, visit us at www.scoresense.com.

ScoreSense Fraud Detection Warnings

Posted on February 18th, 2013

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One of the scariest things about identity theft is that often you won’t know if you’ve been compromised; however, with ScoreSense, fraud detection means you can catch thieves before they do any damage. That’s comforting to know, because there are so many ways for fraud to happen, especially credit card fraud. If you have a membership with ScoreSense, scam artists have no chance to ruin your credit, because ScoreSense fraud detection lets you know what they’re up to, before they can do too much harm.

How does ScoreSense fraud detection work? ScoreSense first analyzes your risk. Then, by constantly monitoring your accounts, ScoreSense fraud detection identifies misuse of your personal information, and alerts you to this suspicious activity before it can go further.

Of course, in addition to trusting ScoreSense to watch over your accounts for any rip-off, report suspicious activity,  and help you find ways to fix problems, there are some steps you should take on your own, to prevent credit card fraud.

• Treat credit cards like cash. You wouldn’t hand cash to a stranger, leave it lying on a table in the library, or forget to pick it up from the counter at the department store, would you? Yet some people are just that careless with their credit cards. For instance, using a public computer to do online banking or shopping can create vulnerability, allowing thieves to use your information for their own purposes. Remember, it doesn’t take much time for someone to snap a picture of your card number with a camera, or make an extra imprint at a register, so keep an eye on your card at all times.
• Shred any document with account information before throwing it away.  Even if a credit card has expired or been cancelled, a skillful scammers can still use the numbers to their advantage, so cut up or shred credit cards before tossing them, disposing of the pieces in different trash receptacles.
• Don’t give out your credit card number without reason. Never sign a blank credit card receipt, and if someone calls asking for your account number, decline to give it to them. Often, scam artists will pretend to be from the bank or a credit card company. Don’t fall for it! Anyone calling from your financial institution already has your account number.  This principle holds true online as well; no one affiliated with your account is going to ask you for sensitive information via email or social media.
• Keep your eyes wide open. Review your credit card and bank statements each month, and vigilantly look for charges that shouldn’t be there. If you sense a rip-off, report it immediately! Also, keep track of your cards, and file a report immediately if one goes missing; even if you think you simply misplaced it, don’t take the chance of it falling into the wrong hands.

By following these steps, you’re likely to keep your finances safe. However, when you’re a member of ScoreSense, fraud is even less likely to happen to you. That’s because ScoreSense works as your financial guardian, empowering you to take control of your finances, protecting you from identity theft and misuse of your credit. If you’d like more information on credit management with ScoreSense, visit us at www.scoresense.com.

A ScoreSense Review of the Top Credit Pitfalls

Posted on February 13th, 2013

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We at ScoreSense review credit reports, and so we’re well aware of some of the challenges that consumers face when trying to build and maintain a favorable credit score. Unfortunately, many people make mistakes with their finances, simply because they do not know how to best manage their credit. Here, ScoreSense reviews some of the most common credit pitfalls, and offers suggestions on how to avoid them.

• Acting like a deadbeat can blow your credit score. Late payments, failure to pay, repossessions—these are all black marks against you that can seriously lower your creditworthiness in the eyes of lenders. Pay your bills on time to avoid a low credit score. Remember, anything that goes to a collection agency remains on your credit report for seven years!
• Bankruptcy isn’t the clean slate you might picture. Lenders and employers can still access information about what led to the bankruptcy, and it might hurt your chances of getting a loan or a job. Even when times are tough, avoid bankruptcy if at all possible.
• Exceeding your credit limit has a negative impact on your credit. In fact, maxing out your credit cards while staying within the limits is not great either! Creditors like to see a large gap between credit available to you and credit you are using, so try to keep your balances down to 30 percent of your limit.
• Closing old accounts can be a bad move. Lenders like to see history, so even if you’ve paid off some of your cards, keeping them open is a good idea. Also, having cards with zero balances will improve your credit-to-debt ratio.
• Not knowing what’s on your credit report is a mistake. While it’s easier if you have help, even if you don’t subscribe to a service like ScoreSense, review your credit score from all three credit bureaus annually. It’s free, and by knowing what’s on those reports, you can fix errors and take control of your financial situation. The advantage of a ScoreSense review, of course, is that it not only checks the scores, but provides a continually updated picture of your credit rating.

With ScoreSense, review of your credit record is just the beginning of what a membership entails. Dedicated to giving people power over their finances and their lives, ScoreSense also monitors account activity, sends up-to-date reports of pertinent data, and even offers information to help you keep your family safe. If you’d like more info on ScoreSense credit reports and credit monitoring, visit us at www.scoresense.com.

What is Credit? Score Yourself in Our Quiz

Posted on February 7th, 2013

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Consumers often wonder “what is credit?” Score yourself on our quick quiz below to determine if you know the basics like credit score range, how credit is determined, and what credit is used for. The answers may surprise you.

1. What is credit?

1. How much money you are allowed to borrow.
2. Your reputation as a borrower.
3. The interest rate you are charged for borrowing.
4. Any money you borrow and agree to pay back.

2. What is the range of the credit score scale?

1. 0-1000
2. 300-850
3. 500-1000
4. 250-1250

3. Which of these factors goes in to determining your credit score?

1. The amount of money you earn.
2. The amount of available credit you are using on revolving accounts, such as credit cards.
3. Whether you are married.
4. All of the above.

4. Who uses your credit score to make decisions about you?

1. Potential employers.
2. Banks and others who are considering giving you a loan.
3. Landlords making decisions about renting to you.
4. All of the above.

Finished our four-question quiz, what is credit? Score yourself now to see how well you did. The answers are B, B, B, and of course, D. If you scored a perfect four of four, you certainly know something about “What is Credit.” If you scored below two, read on.

Credit is the reputation you have as a borrower. It represents the trust banks and other lenders put in you to pay back loans on time. The more trust and confidence they have in you, the better your credit.

Most companies or individuals extending credit don’t have the time to look at all the information it takes to determine credit worthiness, so they use a credit score calculated by one of the three major credit reporting bureaus. They simply ask, “What is credit score for person X” and the bureau forwards a score. The credit score scale ranges between 300 and 850, but generally a score over 700 is considered good.

Factors considered in credit scores include payment history, amount owed, length of credit history, applications for new credit, and types of credit used. These factors are assigned different weights to arrive at the answer for “what is credit score for person X.”

To some extent, your credit score measures your responsibility and integrity. For this reason, employers and potential employers, utility companies, and potential landlords all may consider your credit score when making decisions about you.

For more information about what is credit, score calculation, and ways to improve your credit score, visit us at www.scoresense.com today.

What do Credit Scores Mean?

Posted on January 31st, 2013

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What do credit scores mean? You see ads all the time offering free credit reports and your credit score, but what does a credit score mean to you and your family? Why is it important, what can the number reveal about you, and why are so many different companies in the business of offering such reports and scores to you? Why does one company like OTL ScoreSense stand out among them?

The answer to what credit scores mean is simple: they show how likely you are to pay back a debt. They are a measure of your trustworthiness and reliability when it comes to financial obligations. They indicate how good you are at managing your finances.

What do credit scores mean? If those scores are high enough, it means you will most likely get that mortgage or car loan. … or insurance. When asking, “What does my credit score mean to me and my family?” the answer just might be your financial security.

But answering “What do credit scores mean?” goes beyond realizing their importance to knowing how to interpret the number. Each of the three major credit reporting agencies determines a credit score for you based on the information creditors report to them. How do you interpret those numbers?

Credit scores range from 350 to 850 on the FICO scale – the higher the number, the better your credit. While different inquirers and different industries have slightly varying criteria, general rules apply to what credit scores mean.

What do credit scores mean to the cost of borrowing money? Credit scores often determine the interest rate you pay, which means the difference between a low score and a high score can mean hundreds of dollars difference on monthly mortgage payments, and tens of thousands over the lifetime of a loan.

Because credit scores are so important to financial well-being, lots of companies offer access to them. While they all offer access to your credit scores, it’s their services that can help you obtain a high credit score that are most valuable in the long run.

What do credit scores mean? Learn more about credit scores and credit reports by visiting www.scoresense.com today.

What a “Free” Credit Score is Worth

Posted on January 31st, 2013

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What is the value of a free credit score? You have probably heard the saying “you get what you pay for.” This might lead you to believe a free credit score isn’t worth much, but you would be wrong. While free credit scores may not cost money, they are well worth the bit of time and effort spent to get them.

A service such as scoresense.com delivers a free credit score during your free trial membership as a way to demonstrate to consumers the value of investing in membership. When you ask them to “Give me my free credit score,” you also receive a number of additional services that help make use of your free credit scores.

The value might come in the trial membership to the additional services rather than the free credit score itself. While important in seeking credit, free scores obtained one time is like weighing yourself one time while trying to get fit.

The true value of a free credit score comes with learning how enrolling in those member services will help you manage your credit score and protect your identity. It might seem like a smart move to get your free credit scores and then cancel a trial membership before receiving any charges, but you lose out on the ability to track your credit score over time.

Canceling your membership also means you lose identity theft protection and the ability to quickly find and correct errors in your credit reports. Identity theft or credit report errors could cost thousands of dollars, which means your membership is well worth the cost.

So again, the free credit score might be a good spot check, but it is even more valuable as an introduction to the many services Scoresense.com provides to help you protect and improve your credit.

To learn more about credit and credit reports, visit www.scoresense.com today.

Consumer Reporting Agency History

Posted on January 31st, 2013

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What is a consumer reporting agency, and how did agencies of this nature come to have such an influence over your life? These days, whether you’re requesting a mortgage loan, buying a car, getting a credit card, applying for insurance or even applying for a job, someone will look at the consumer credit reports supplied by a major credit reporting agency before making a decision about you.

At ScoreSense, you have the opportunity to monitor what is being reported about you on an ongoing basis. Rather than getting a free annual credit report from a major consumer reporting agency once a year, you can check the reports from all three – Experian, TransUnion and Equifax – anytime you want.

For the most part, the birth of the consumer reporting agency occurred after World War II, when large numbers of families were buying homes, cars and appliances on credit. Local merchants formed bureaus to share information primarily on who failed to pay. Often, these bureaus would search local papers for information on marriages, promotions, bankruptcies, and deaths, which would be clipped and added to a consumer’s file.

By the late 1960s and early ’70s, computers began to change the ways a credit reporting agency did business. Paper files were no longer kept in rows of file cabinets and read over the phone to inquirers. A smaller consumer reporting agency that was unable to afford the new technology sold its files and went out of business. As a result, smaller local bureaus became regional bureaus and eventually national and international agencies.

Passage of the Fair Credit Reporting Act (FCRA) in the 1970s also changed the landscape. Regulations on what information could be collected and who could see it, as well as the right of consumers to receive copies of the information gathered on them helped speed consolidation of the consumer reporting agency industry.

With easier access to accurate information on more people, the usefulness of consumer credit reports grew. As a result, the demand for the services of a consumer reporting agency grew. We have become a society largely dependent on credit, and knowing how well someone handles their financial responsibilities can be a key element in decisions made about him or her.

From small, local bureaus organized for local merchants to large, multinational agencies dealing in information exchange and analysis on consumers, the consumer reporting agency has come a long way. It appears it will have a long future as a major player in our financial system.

What is a consumer reporting agency telling others about you? Learn more about credit and credit reports by visiting scoresense.com today.