12 ways to rebuild your credit
News from HeraldNet:

Rebuilding credit should be at the top of the list for 2012. Too many credit scores took fairly big hits during the recession.

“It’s been rough,” said Todd Albery, CEO of Detroit-based Quizzle, a credit information website that’s part of the Quicken Loans family.

Here are a dozen ways to deal with credit in 2012:

No. 1: Get a free credit report to see a listing of credit card debt, loans and liens. Receive a free report every 12 months from Equifax, Experian and TransUnion at www.annualcreditreport.com. You also can call 877-322-8228.

No. 2: Get a free score at Quizzle.com. Another spot for free scores: CreditKarma.com.

No. 3: Give up the notion that if you pay your bills each month you will have a good credit score. John Ulzheimer, president of consumer education at SmartCredit.com, says that paying on time only amounts to 35 percent of a credit score, and 30 percent of your score is based on how much you owe.

No. 4: Tackle debt on department store or specialty store cards, which tend to have rates that exceed 20 percent.

No. 5: Yes, throw extra money at credit card debt first. Your mortgage rate or car loan is far less than most credit card rates.

No. 6: Use cash……………. continues on HeraldNet

… Read the full article

Related News:

Braintree Scanner Tales: Credit-card fraud and counterfeiting alleged at Target
News from Boston.com:

Man arrested on multiple credit card fraud charges
A Quincy man was arrested at the South Shore Plaza on Thursday afternoon after trying to use several individuals’ credit cards to make purchases.

Braintree police had been investigating the case since a Braintree woman reported that her wallet was stolen from her workplace at Milton Hospital on Dec. 12. Several of her credit cards were used at Target to purchase iPads, iPods, a Nintendo unit, and a PlayStation game system. The total value exceeded $ 3,000.

A Norwood woman reported to Braintree police on Jan. 11 that her wallet was taken while at her Braintree office, and one of her cards was used at Target to purchase almost $ 2,000 of iPads and iPods.

On Jan. 12, a Brighton woman also reported that she had been shopping at the Plaza when she received an email from Bank of America informing her of suspicious activity on her account.

The woman checked her purse and found her wallet was missing. Later, she discovered almost $ 1,000 of iPads and iPods had been purchased at Target. Two other purchases totaling over $ 1,500 were declined.

Target was able to provide investigators with surveillance video of the same person using the three women’s credit cards, and on Thursday afternoon, loss prevention contacted B…………… continues on Boston.com

… Read the full article