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Credit Repair Damage Goes Wireless

Credit challenged consumers trying to repair their credit should know of the latest tricks that can be used on open WiFi networks by identity thieves
Credit Repair Damage Goes Wireless
Protecting your personal information

Here at Auto Credit Express we know that of all the consumers out there, those with really bad credit are the least likely to have their identity stolen. But it also follows that as their FICO scores improve, so does the probability that they will become the targets of identity thieves.

Quite frankly, we really don’t want this to happen because we’ve spent the last two decades helping car buyers with past credit issues find those new car dealers that can not only give them their best opportunities car loan approvals with problem credit, but also get them started down the road to credit repair.

So today we’ll be passing along some tips we recently came across in an article from FICO that discussed this very issue. Here are some excerpts:

The hidden cost of free WiFi

Free WiFi is now a given in many public spaces such as coffee shops, airports and hotel lobbies. Most people don’t think twice about quickly accessing an open network, even to check a bank balance or pay a bill. But appearances can be deceiving, and not all networks are legitimate. It is now common to have skilled fraudsters, or even casual hackers, set up dummy networks that ensnare unsuspecting patrons and capture sensitive information, such as banking passwords. Criminals sitting next to you, or in the parking lot 100’s of feet away, can intercept data—and there is no way to pick them out of a crowd.

In a perfect world, everyone would understand that sending user names, passwords and sensitive financial data via an unencrypted public network is a bad idea. The reality is that bank customers do not always take precautions. Wireless routers, laptops, tablets and smartphones are basically radio transmitters, so anyone in range of an unsecured WiFi device can retrieve unprotected information. Banks have become very sophisticated in providing encryption layers and authentication measures to secure customer access points to their websites. However, none of this will eliminate vulnerability if a customer is accessing her or his account via an unsecured public network.

What you can do

When banking online (or doing anything else that requires submitting you personal information, for that matter) you should:

• Be wary when using any kind of mobile network
• Check with your bank regarding the appropriate online and WiFi security precautions

The Bottom Line

While many of the public ones are attractive because they’re free, understanding the downside of WiFi networks is especially important for consumers with low credit scores who are in the process of repairing their credit.

Another important thing to remember is that if you’ve been turned down for an auto loan through a traditional lender, we want you to know that Auto Credit Express matches applicants that have experienced auto credit issues with dealers that can offer them their best chances for approved car loans.

So if you’re ready to establish your car credit, you can begin now by filling out our online car loans application.

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