The ins and outs of 0% balance transfers

Yet again MoneyTalksNews.com has an insightful article with good, basic advice. This particular article is about the benefits and risks of zero percent credit card balance transfers. Basically, the risk is the fee that most credit card companies charge to transfer a balance and the risk that you lose the incentive to pay down the debt while york are not being charged interest. The pros are that, if done right, you can save a ton on interest.

The article is here and is worth a read - http://www.moneytalksnews.com/2012/06/06/credit-card-debt-zero-balance-transfers-can-help/?utm_source=Money+Talks+News+Updates&utm_campaign=email-2012-06-10&utm_medium=email. Happy reading and balance transferring!

Identity theft insurance - just not worth the money

Money Talks News recently published an article about eight types of insurance or other protections that are not worth the money they cost. What did Money Talks list as the number one not worth it protection? Identity Theft Insurance.

Here's what Money Talks said:

"Identity theft insurance doesn’t protect you from becoming a victim of the crime, or sometimes even replace money lost. The insurance only covers some of the expenses you accrue dealing with identity theft – like the cost of mailing letters to your creditors and maybe some legal fees. And it costs $20 to $100 per year – plus a $100 to $1,000 deductible, according to MSNBC.

Instead of paying for extra insurance, see if your credit card company offers identity theft recovery services. Some companies, like American Express, help you free of charge.

If your card doesn’t come with it, you can still protect yourself. The Federal Trade Commission has a list of steps to take if you’ve been victimized by identity theft on their website – like placing a fraud alert on your credit report and canceling affected credit accounts."

What do I think? I think identity theft insurance is not only not worth the cost, its also harmful in a lot of cases. The identity theft insurance policies I have seen often limit the insured's ability to file any type of lawsuit or seek compensation for his or her injuries. Others limit your attorney selection to the attorney hired by the identity theft insurance company, who will probably not be willing to pursue a claim on your behalf.

You are much better off to take the steps that I and others have suggested - i.e. the vigilance and diligence mantra that I espouse ad nauseam - and, if those steps don't work, hire an Fair Credit Reporting Act experienced attorney to file a lawsuit for you.

Awesome article about how to raise your credit score

Since stumbling upon Money Talk News, I have been very impressed with the research and writing of their articles, particularly on consumer issues.  Since starting this blog, I have read countless articles about how to do this or that, but most offer just basic advice that doesn't really help much.  Not so about articles from Money Talk News.  Their articles are almost always insightful and well written.  This article is no different.  I highly advise you to read it and follow its advice to raise your credit score.  Here's the article - http://www.moneytalksnews.com/2012/05/28/18-tips-to-give-your-credit-score-a-boost/#.T8QI6kmEAXk.blogger