What is the “Heartbleed Bug” and is it having an effect on my credit?
The “Heartbleed Bug” is a man-made computer virus. The virus infiltrates website security systems and steals personal and private information of those who have accounts with those websites. This information ranges from your password, to your address, to your credit card number and beyond. Any information you have stored with a website or account that is hacked by the virus, could potentially be stolen.
There were many large-scale companies and websites who were susceptible to the virus. These include Facebook, Google, Instagram, Twitter, Pinterest, Tumblr, Yahoo, Amazon, Etsy, GoDaddy, Minecraft, NetFlix, YouTube, Healthcare.gov and DropBox, to name some on the list. If you had an account with any of these companies, your information could have been at risk. If you haven’t already, you should immediately change your password to any account you have with the above companies.
The only way that you’re credit could be effected by such a virus is if your information was a) stolen and b) used without your authorization. This would mean, for example, the virus would need to detect your password, login and obtain your credit card number (if it’s on file) and then the computer hacker who is receiving the information found by the virus must use it without authorization.
If you fear or know that the virus may have compromised your credit, a credit repair specialist can help you fix these errors and ensure that your score doesn’t plummet.
What are some of the most common ways bad credit occurs? How can it be prevented?
One of the most common ways bad credit occurs is because of the misuse of funds, especially credit cards and loans. Generally, when people have bad credit, it is because they have spent money (namely through a credit card or loan) that they didn’t have and knew they had no way of paying back. People often times take out loans or use credit cards because they “are pretty sure they have money coming in” at some point in the future; however, often times that money doesn’t arrive, and their credit is detrimentally effected.
These issues can be prevented by using logical spending techniques and ensuring you aren’t spending more than you have. For example, it is unwise to use a credit because you don’t have the money. Credit cards were created to help you build credit, not destroy it. Make sure you have that money in the bank or a reliable source of future income (a paycheck, etc.) before making a purchase with a credit card. This same logic can be applied to loans. Refrain from taking out loans when you have no idea whether or not you’ll be able to pay it back. You’re only making a bad situation worse under these circumstances.
Another way to prevent these issues is to educate yourself. For example, do you understand how interest works? If not, this is most certainly something to read up on. Interest is added (one way or another) 100% of the time when dealing with credit cards and/or loans. People are often confused how their balance owed can increase if they haven’t spent any more money. The answer is interest, and most of the time, especially when people are in dire circumstances, companies add massive amounts of interest in order to take more money away from those people who need it most.
We specialize in credit repair, call us to see how we can help: (702) 400-0000.