Every loves to travel during the summer. The kids are out of school, the work load is not as high, and airlines compete for your business. If you work hard all year you deserve take a vacation even if it is just a mini-vacation. Here are 7 tips to save money when planning your summer vacation.
1. Plan ahead. Plan at least one year in advance for vacations especially if you in debt, recently getting out of debt or live paycheck to paycheck. This way you can save enough money to go on vacation without going into debt to pay for it.
2. Find deals. Shop around to find the best deal. Visit websites like www.hotwire.com, www.priceline.com, www.orbitz.com, www.cheaptickets.com or www.hotels.com to find cheap rates for hotel, airfare and cruises.
3. Talk. Talk to friends and neighbors about their current or past vacations and find out how they planned their vacation, i.e. ask about any discounts or sales they know about, inexpensive restaurants, shops, etc.
4. Move fast. When you hear about vacation sales or discounts you have to move quickly to capitalize on the deal because they usually don't last long. If you saved your money all year long then you can take advantage of discounts when they become available.
5. Spending Money. When traveling it is best to buy traveler's checks, they can quickly be replaced if lost. If you credit card is stolen you may not have another credit card available to purchase any necessities. Buy everything needed before traveling. Toiletries are more expensive at other locations when traveling. Take one credit card only for emergencies.
6. Buy traveler's insurance. Buy traveler's insurance. This will reduce the costs of medical bills that could accrue if you get sick on a cruise ship or flight and prevent you from going into debt.
7. Use restraint. Use restraint while on vacation. Don't buy everything you see in the tourist stores or malls. If you know you will be tempted don't even go into the store. Buy items or souvenir gifts at flea markets or only buy items that are on sale.
Write me at hfreeman@hefreemanenterprises.com and let me know how my tips helped you during your summer vacation!
Copyright © 2007 H.E. Freeman Enterprises
Friday, June 22, 2007
Wednesday, June 06, 2007
Fair Isaac Moves to Protect Lenders from Fradulent Manipulation of Authorized User Credit Cards
Fair Isaac Moves to Protect Lenders from Fraudulent Manipulation of Authorized User Credit Card Accounts
Company’s Newest FICO Scoring Model Will Ignore Authorized User Accounts When Calculating Classic FICO Credit Risk Scores
MINNEAPOLIS--(BUSINESS WIRE)--Fair Isaac Corporation (NYSE:FIC) today announced that it will adjust its FICO® scoring formula to ensure the continued reliability and predictive power of FICO scores. This action is intended to protect lenders and FICO scores from abuse of authorized user credit card accounts by a new kind of credit repair service that sells consumer credit card histories to credit applicants in order to purposefully misrepresent the applicants’ own credit history to lenders and other businesses. The adjustment removes authorized user accounts from consideration by the scoring model in FICO 08, the newest version of the Classic FICO credit score which Fair Isaac expects to become available to lenders starting in September.
“We will do whatever it takes to protect the reliability and accuracy of FICO credit scores for lenders, and to ensure lenders can continue to use FICO scores with confidence when making their most important customer decisions,” said Dr. Mark Greene, CEO of Fair Isaac. “We will continue working with lenders, regulators and others in the credit reporting industry to end deceptive practices that fraudulently misrepresent consumer credit histories for profit.”
An authorized user is a person permitted by a credit account holder to use an account, typically a family member who is managing credit for the first time. Used legitimately, authorized user account information has helped both lenders and consumers by enabling lenders to use FICO scores when making credit decisions for consumers who are starting a credit history. Fair Isaac’s research indicates that the next version of its FICO scoring formula will deliver increased predictive power without considering authorized user accounts.
Fair Isaac will work closely with lenders to help them implement and benefit from the FICO 08 score as it becomes available. As the company announced previously, lenders will be able to use the new version of FICO scores with minimal changes to their own operating systems. To make lender adoption easier and faster, the new scoring model will retain the same scoring range, score reason codes, minimum scoring criteria, inquiry treatment, and related model parameters as previous versions of the FICO formula.
About Fair Isaac
Fair Isaac Corporation (NYSE:FIC) combines trusted advice, world-class analytics and innovative applications to help businesses make smarter decisions. Fair Isaac’s solutions and technologies for Enterprise Decision Management turn strategy into action and elevate business performance by giving organizations the power to automate more decisions, improve the quality of their decisions, and connect decisions across their business. Clients in 80 countries work with Fair Isaac to increase customer loyalty and profitability, cut fraud losses, manage credit risk, meet regulatory and competitive demands, and rapidly build market share. Fair Isaac also helps millions of individuals manage their credit health through the fair Isaac website.
Fair Isaac Statement Concerning Forward-Looking Information
Except for historical information contained herein, the statements contained in this press release that relate to Fair Isaac, including statements regarding its FICO® score, and the relationship described herein, and the benefits to be derived from the offering, are forward-looking statements within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially, including any unforeseen technical difficulties related to the implementation, use and functionality of the offering, the risks that customers will not perceive material benefits from the offering, failure of the product to deliver the expected results, the possibility of errors or defects in the offering, regulatory changes applicable to the use of consumer credit and other data, and other risks described from time to time in Fair Isaac’s SEC reports, including its Annual Report for the year ended September 30, 2006, and quarterly report on Form 10-Q for the period ended March 31, 2007. Forward-looking statements should be considered with caution. If any of these risks or uncertainties materializes or any of these assumptions proves incorrect, Fair Isaac’s results could differ materially from Fair Isaac’s expectations in these statements. Fair Isaac disclaims any intent or obligation to update these forward-looking statements.
Fair Isaac and FICO are trademarks or registered trademarks of Fair Isaac Corporation, in the United States and/or in other countries. Other product and company names herein may be trademarks or registered trademarks of their respective owners.
Fair Isaac CorporationInvestors/Analysts:John D. Emerick, Jr., 800-213-5542
investor@fairiasac.com
Company’s Newest FICO Scoring Model Will Ignore Authorized User Accounts When Calculating Classic FICO Credit Risk Scores
MINNEAPOLIS--(BUSINESS WIRE)--Fair Isaac Corporation (NYSE:FIC) today announced that it will adjust its FICO® scoring formula to ensure the continued reliability and predictive power of FICO scores. This action is intended to protect lenders and FICO scores from abuse of authorized user credit card accounts by a new kind of credit repair service that sells consumer credit card histories to credit applicants in order to purposefully misrepresent the applicants’ own credit history to lenders and other businesses. The adjustment removes authorized user accounts from consideration by the scoring model in FICO 08, the newest version of the Classic FICO credit score which Fair Isaac expects to become available to lenders starting in September.
“We will do whatever it takes to protect the reliability and accuracy of FICO credit scores for lenders, and to ensure lenders can continue to use FICO scores with confidence when making their most important customer decisions,” said Dr. Mark Greene, CEO of Fair Isaac. “We will continue working with lenders, regulators and others in the credit reporting industry to end deceptive practices that fraudulently misrepresent consumer credit histories for profit.”
An authorized user is a person permitted by a credit account holder to use an account, typically a family member who is managing credit for the first time. Used legitimately, authorized user account information has helped both lenders and consumers by enabling lenders to use FICO scores when making credit decisions for consumers who are starting a credit history. Fair Isaac’s research indicates that the next version of its FICO scoring formula will deliver increased predictive power without considering authorized user accounts.
Fair Isaac will work closely with lenders to help them implement and benefit from the FICO 08 score as it becomes available. As the company announced previously, lenders will be able to use the new version of FICO scores with minimal changes to their own operating systems. To make lender adoption easier and faster, the new scoring model will retain the same scoring range, score reason codes, minimum scoring criteria, inquiry treatment, and related model parameters as previous versions of the FICO formula.
About Fair Isaac
Fair Isaac Corporation (NYSE:FIC) combines trusted advice, world-class analytics and innovative applications to help businesses make smarter decisions. Fair Isaac’s solutions and technologies for Enterprise Decision Management turn strategy into action and elevate business performance by giving organizations the power to automate more decisions, improve the quality of their decisions, and connect decisions across their business. Clients in 80 countries work with Fair Isaac to increase customer loyalty and profitability, cut fraud losses, manage credit risk, meet regulatory and competitive demands, and rapidly build market share. Fair Isaac also helps millions of individuals manage their credit health through the fair Isaac website.
Fair Isaac Statement Concerning Forward-Looking Information
Except for historical information contained herein, the statements contained in this press release that relate to Fair Isaac, including statements regarding its FICO® score, and the relationship described herein, and the benefits to be derived from the offering, are forward-looking statements within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially, including any unforeseen technical difficulties related to the implementation, use and functionality of the offering, the risks that customers will not perceive material benefits from the offering, failure of the product to deliver the expected results, the possibility of errors or defects in the offering, regulatory changes applicable to the use of consumer credit and other data, and other risks described from time to time in Fair Isaac’s SEC reports, including its Annual Report for the year ended September 30, 2006, and quarterly report on Form 10-Q for the period ended March 31, 2007. Forward-looking statements should be considered with caution. If any of these risks or uncertainties materializes or any of these assumptions proves incorrect, Fair Isaac’s results could differ materially from Fair Isaac’s expectations in these statements. Fair Isaac disclaims any intent or obligation to update these forward-looking statements.
Fair Isaac and FICO are trademarks or registered trademarks of Fair Isaac Corporation, in the United States and/or in other countries. Other product and company names herein may be trademarks or registered trademarks of their respective owners.
Fair Isaac CorporationInvestors/Analysts:John D. Emerick, Jr., 800-213-5542
investor@fairiasac.com
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