Consumers with damaged credit also need to be aware of how identity theft on open WiFi networks can hinder their credit repair efforts
Car buyers hoping to repair their poor credit with an auto loan should be aware of some of the latest tactics used by skilled identity thieves.
Here at Auto Credit Express we want our applicants to be aware of this because we’ve spent over two decades helping car shoppers searching for online car loans locate dealers that can arrange for car loan approvals.
But instead of auto loans, today we’ll be discussing something that even bad credit buyers should be aware of: how they can reduce the chances of having their personal information stolen over a WiFi network – something that could sidetrack much of their efforts at credit repair.
Not long ago we came across an article from FICO that discusses 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
The Bottom Line
Understanding the downside of those ubiquitous free WiFi networks is just as important for people with low credit scores – especially if they’re in the midst of the credit repair process.
Yet another important thing to remember: if you’ve been turned down at a traditional lender you should know that Auto Credit Express matches people that have experienced difficulties with their auto credit with new car dealers that can offer them their best chances for approved car loans.
So if you’re ready to reestablish your car credit, you can begin now by filling out our online car loan application.