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FICO says Free WiFi can Cost You

Even people with less than perfect credit need to be aware of the latest tricks used by identity thieves on open WiFi networks
FICO says Free WiFi can Cost You
Keeping your personal information private

Car buyers hoping to repair their credit should have an understanding of some of the latest schemes used by skilled fraudsters.

We want them to know this because here at Auto Credit Express we’ve spent the couple of decades helping folks like these locate a car dealer that can help get them financed. Our website is even designed so that credit-challenged applicants can read about such issues as repossession before applying for a bad credit car.

Today, however, we’ll be discussing something just as important: how to avoid having your personal information stolen over a WiFi network – something that could lead to undermining all your efforts at credit repair.

We recently came across an article from FICO that discussed this very issue. Here are some excerpts from it:

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

As we see it

Understanding the downside of WiFi networks is important for everyone but especially so for those people with low credit scores who are in the middle of the credit repair process.

Another important thing to remember is to check out the Auto Credit Express web site if you need a car and have been turned down through a traditional lender. Here we’ll help find you a dealer for your best chance at an auto loan approval that can help rebuild your car credit.

So if you really want to get your auto credit on track, you can begin now by filling out our online auto loans application.

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