AVOID ATM TRAPS

Cover your hand when you enter your PIN so a camera cannot record it. Use an indoor ATM - less likely to be tampered with. Use signature option with retailers instead of PIN. Set up weekly or daily bank alerts to send you account balances. Make sure bank has current phone contact numbers at work, home, and cell.

AVERT THE CREDIT REPAIR RIP-OFF

The ideal way to avoid poor credit and deceptive credit improvement services is to do a periodic credit report review. Reviewing your credit profile is important because the information in your report impacts the cost of insurance or loan interest. Ensure the information is accurate, complete and updated before applying for a mortgage loan. Periodic checks helps to avoid identity theft as well.

Credit Restoration and Beating Debt

Much of your credit score is reliant on how much unused credit you have uncommitted. If you have a credit card with a $2000 limit, it will improve your credit score when there is a balance of $20 - leaving you $1980 of unused credit. It will lower your score if you have a balance of $1900 - leaving you $100 of unused credit.

3 Reasons for Credit Restoration

1)Bad Choices: failure to make payments or using debt settlement services.
2) Unanticipated Circumstances: job loss, divorce or medical catastrophe.
3) A Victim of Identity Theft: can wreak havoc on any one's life.

Tips to Bounce Back From a Credit Score Disaster

Review your budget; get a copy of your credit report; contact your lenders; pay bills on time; stay at your job; use new credit wisely; beware of scam artists.

Five Biggest Factors That Affect Your Credit

Payment history 35% - Amounts Owed 30% - Length of Credit History 15% - New Credit 10% - Types of Credit in Use 10%

WHAT IS A CREDIT SCORE

A credit score is a number that lenders use to determine the risk of lending money to a borrower. Credit card companies, auto dealerships and mortgage bankers are three common examples of types of lenders that will check your credit score before deciding how much they are willing to lend you and at what interest rate. Insurance companies, landlords and employers may also look at your credit score to see how financially responsible you are before issuing an insurance policy, renting out an apartment or giving you a job.