Credit Card Breaches – Student Loan Debt

Key Credit Repair’s credit expert Nik Tsoukalis appeared on the radio to discuss two credit topics to make a part of your New Year’s Resolutions: credit breaches and student loans. Credit Hacks

97% of companies that do business online have had some sort of data breach. To protect yourself when during holiday shopping: Use a credit card instead of a debit card to gain fraud protection.

But, don’t let it convince you to overspend. On average, people will spend 30% more when they charge something than when they pay in cash. To keep yourself in check, put the purchase on a charge card that you need to pay off at the end of the month.

Monitor your credit closely. This time of year is a hot time for identity theft.

Student Loans

When it comes to protecting your credit long term, student loans are a concern for many. To minimize the pain of student loan debt: Find out about loan forgiveness. Often, you can cut your principal balance significantly.

Beware of forbearance and deferment. You aren’t making payments, but you are still accruing interest.

If you are engaged in credit repair consolidate multiple student loans. Having multiple student loans lowers your credit score and can lead to confusion about who owns your loans.