It is the NFL season! A lot of us are watching our favorite teams in the playoffs. Do you know that there are many parallels between what happens on the football field and how you manage your finances? How about we look into these similarities? Let us see what tactics we can take away from the sport that is applicable to professional athlete wealth management or even individual financial planning. Here you go!

NFL & Financial Planning | The Parallels Between Them

The Red Zone

A successful team mostly performs well in the red zone. The matches in these 20 yards need accurate execution and provide little room for issues. There is a lot riding on the effort because success in this zone mostly means winning the game.

There is a financial red zone that goes from 5 to 10 years prior to 5 years after retirement. This is when focusing on the details, such as budgeting properly, saving more, and steering clear of mistakes, is difficult for a winning retirement. These years are important as there is so little amount of time left before you retire to correct mistakes, including taking too much risk. You want to secure the assets that you have worked so hard to gather and invest new money conservatively.

The Hurry-Up Offense

This strategy lets a team adopt a faster approach to play when they are running out of time and required to gain a lot of ground immediately. If the hurry-up defense is done well, it disturbs the opponent’s defense strategy. However, this offensive move is difficult to carry out efficiently and mostly leads to mistakes. This can end up in chaos, and the team may become uncertain about what to do.

We can see a similar situation in financial planning for athletes when people feel as if they are behind in investing and saving. If they do not think they have sufficient money for retirement, they are willing to take more risk than it is wise.

It is a risky reaction and can even mean gambling with money that is meant to last longer. Yes, retirees and pre-retirees require some element of growth. However, few of them are in a position to get aggressive growth and accept the risk that accompanies it.

The Victory Formation

With the win in hand, a team can make the victory formation, permitting the quarterback to take a knee as the clock runs out. Because play stops, there is no chance for a fumble that can put the win at threat. It is the same with retirement. If you have saved enough for you to retire comfortably, you might not need to grow your money anymore. You can even take the market risk linked with a growth strategy. You have only one go at retiring, so why blow that winning position?

Good Coaches Make A Difference

A great coach can make or break a franchise or team. We have seen it firsthand in the NFL, fantasy football, and college football. All players have an advantage from having a coach who offers them the motivation and guidance they need to achieve their maximum potential.

In financial planning, an athlete financial advisor is there to figure things out. Financial experts help you prepare a smart game plan. You can benefit from their experiences, knowledge, and objectivity in implementing and developing a winning strategy. It is advantageous to have another set of eyes on your portfolio to make sure you are on the right track. It also helps you do everything possible to achieve a financially secure retirement.  

Summing It All Up!

Any successful NFL team depends on discipline, strategy, and a great coach to win on the field. Similarly, impactful financial planning also needs expertise and dedication. Whether you are someone preparing for retirement or a professional athlete, the similarities between financial management and the NFL are crystal clear. Having a financial coach, just like an athlete’s trusted advisor, can make all the difference in assisting you in building a winning and solid game plan for your financial future. With the right approaches and guidance, you can score a massive financial victory.

A successful financial plan, just like a successful NFL team, needs a greater level of synergy throughout the board from various components. In football, a good deal of planning helps in driving the entire group towards working to achieve their end goal. Your opponent will expose any weak links to make your team pay for it. 

The same rules apply to gameplan financial planning as well. An error in your plan might delay your retirement goals. We can agree that planning is a vital part of both financial planning and football. The best way to draw a closer comparison between them is to break them down by position and personnel grouping. Let’s go!

Master Your Finances With NFL Precision

Quarterback (QB) – Equivalent To The Financial Planner

Do you want to be like the New England Patriots or the Cleveland Browns? In most cases, Super Bowls are not won without a perfect quarterback behind center. Recent exceptions involve the Baltimore Ravens.

Similarly, many people can manage their financial matters on their own. However, these individuals are also the statistical outliers. The majority of people require a good financial planner to make sure that their goals are being achieved and resources are being maximized. With accountability, what looks like a minor task gets put off. Consequently, enough of these tasks add up, and the team (client) struggles to catch up.

An expert NFL financial advisor and a good quarterback planner focus on the details. They hold those around them accountable and make just the right adjustments on the fly. Both of them also effectively communicate with everyone involved.

Wide Receivers (WR) – Equivalent To Growth Stocks

WR (Wide Receivers), such as growth stocks, pick up large bits of yards (dollars) at a time. Wide receivers can have games where they explore for 215 yards and ten catches or other games where they are held in check with only 7 yards and two catches. Purchasing a growth stock like Tesla can be both painful and exciting. In other words, wide receivers and growth stocks both tend to have a volatile persona. Tight End & Fullback (TE) & (FB) – Equivalent To Alternative Investments, Such As Real Estate And Commodities.

If you are a true football fanatic, then you must know Rob Gronkowski. He is the dominant tight end in the NFL. However, many teams outside of the Cowboys, Chiefs, Eagles, and Patriots use the tight end to increase their offensive schemes. As a matter of fact, the tight end is commonly used by offenses to build mismatches near the end zone or when an opponent is weak in coverage at the linebacker spot. REITs (Real Estate Investment Trusts) play a similar complementary role in an investor’s portfolio.

Offensive Line (OL) – Equivalent To Bonds And Cash (Fixed Income)

Each football fan understands that a great football team is made from the inside out. The offensive line is the stabilizing force, as the offense cannot simply function without the guards, center, and handles all being on the same page. The offensive line is accountable for safeguarding the quarterback from getting dismissed by the defense and opening up running lanes for the backs to pick up hard-fought yards. Without the seasoned players doing their job in the trenches, the offense will fall apart.

Cash instruments and bonds (savings, money market, and CDs) work in a similar protective manner. They are the safety net of your portfolio and a requirement for retirees who need surety and income. The principal investment is usually stable due to features like the sound of creditworthiness of the bond issuer.

Defense – Equivalent To Insurance And Risk Management

All the previous positions mentioned worked side by side on offense to gather points for the team. They also grow the bottom line net worth of an individual. The defense is vital to prevent loss. That is limiting the damage caused by your opponent. No one is that lucky that we go through life without experiencing some loss that resulted from things like water/wind damage to a home, stolen/lost jewelry, an extended hospital stay, premature death, or prolonged disability. Many times, the losses can be so destructive that without proper insurance coverage, you have to wipe out your life savings to cover the damages. While the cost of insurance adds up to your monthly budget, it will save you from having to hit the start-over button with your financial plan. It is similar to how a good defense in football will bend but not break.

Backups – Equivalent To Saving For A Rainy Day

This one is pretty blunt. No team wishes to go to its backups. Similarly, no one wants to experience a dip in their savings when the AC unit needs replacement. However, when you have sufficient savings for emergencies, it saves you from having to borrow money from others.

Special Teams – Equivalent To The Small Details That Add Up

What looks like to be minor details can have a massive impact on the momentum. The same can be said in the world of financial planning about things such as focusing on your household budget, being financially prepared for transitions in life, opting for low-cost index funds, rebalancing your investments, and knowing where to tax-shelter assets. The little things that do not seem like they matter really add up to and accumulate a lot of money with time.

In Summary

And that is how a financial game plan and football strategies are a lot alike. If you understand one, you will get the other one, too.  By embracing these principles, football fans can tailor a dynamic financial foundation that supports both long-term goals and immediate requirements. It is a game where innovative strategies, the right connections, and community support can turn a fledging club into a financial powerhouse. To keep track of your credit score, you can seek help from trusted services, such as Gifted Financial Services.

The football season is about to start soon. And for that, you need to buy a lot of things. Starting with the tickets and moving to the merchandise that you will match with your favorite team. Things of this sort can make you spend a lot. So, how about we create a financial game plan to save up those $$$? In this blog, we are going to discuss how your financial life can be similar to that of the general manager of a football team. So, dive right in to explore further:

A Detailed Blueprint For Professional Athlete Wealth Management

Step No. 1 – Select Your Team

The Chiefs, as well as other NFL teams, sign and draft players. After that, they choose their coaches. Have you ever noticed how many coaches are there on the staff? Not only football but also our lives have become highly specialized in these last few decades. You can research “financial planning for professional athletes” on search engines, but none of the results will suit your unique condition.

You are probably mostly occupied with your career, managing your house, and barely getting some time for yourself. Do you think that, in all of this chaos, you will effectively manage your money life? Well, you can certainly oversee them from time to time. But we suggest you do not waste your valuable and precious leisure time doing so. It might be much better for you to hire an athlete financial advisor to help you. Gifted Financial Services can often help you with this matter. They can serve no less than your head coach and bring in other professionals, such as estate planning, insurance agents, attorneys, employment attorneys, and others if your requirements change.

Step No. 2 – Assess Your Current Situation

Financial experts perform wealth management for professional athletes by assessing their current situation. Now, this is something that the Chiefs do periodically, that you most probably don’t do with your greenbacks. Do you have your assets and liabilities sorted? The Chiefs might have a “Weaker” position group and report that. One of your liabilities might be carrying a lot of debt. Or you have not taken advantage of employer-sponsored savings plans. Or maybe it can be that you are not saving in a manner that restricts your income tax liability. Moreover, out of a hundred possibilities, it can also be that you are not maximizing your income potential and need to look for a new job or ask for a raise.

You most likely have assets, too. They can be the real-estate assets and investments, and of course, your human capital to earn more money. Are you aware of your net worth, and do you pay attention to increasing it year by year? You do not have to be an NFL financial advisor for this. A lot of financially successful people focus not only on their investment returns but on a wider picture that includes their savings, income, and spending. So, all in all, your assets minus your liabilities is the right way to view your financial success.  

Step No. 3 – Build A Playbook

The Chiefs goal every year is to win the Super Bowl. Travis Kelce is popular for his creative plays. You can begin your gameplan financial playbook by determining your values and goals. What are you willing to achieve? What does success look like for you? It is comparatively easier if you have a purpose. You can also work with a professional financial planner to create a playbook on how you can achieve your goals. This plan must include your current income, like a financial with the quarterback and receivers, to make all the plays work. Hiring an expert, such as an NFL advisor, you might be able to determine creative “plays” or smart plays that will give your success a kickstart.

Step No. 4 – Allocate Your Resources

If you are willing to pay your superstar quarterback a great deal of money, then as the Football GM, you have less to give to other players. Every one of us has access to only limited resources. Thus, it is vital for us to make conscious decisions on how to use these resources. If you wish to spend your money on Chiefs season tickets, then you must limit your other entertainment spending or take fewer vacations. However, if vacationing is something you cannot give up, then you should opt to save money on clothing, fancy coffees, and dining out frequently. This is how financial planning for athletes is done.

Step No. 5 – Practice And Execute The Playbook

The Chiefs practice their plays prior to unveiling them during games; this is what makes them perfect on the playing field. Similarly, practicing new habits will also help you in many ways. For instance, you can pay yourself by putting money into your savings directly from your paycheck. Switch off all ad notifications that you receive from shopping ads. Unsubscribe from all retailer emails that might compel you to buy more things. Cut out streaming services that are not getting views in your home. Join loyalty clubs to get discounts. Maintain your vehicles and keep them for at least eight years. There are a lot of habits that you can practice to achieve your goals. You can take athlete financial planning services to get more ideas regarding these habits.  

In Summary

And this is how you can approach your financial life like a football team. You hire coaches, understand where you stand currently and where you wish to be, create a playbook, and practice new moves (habits) to win your personal Super Bowl. If you wish to monitor your credit scores to understand your financial status, then we suggest you seek help from any reputed credit monitoring service. One such service provider is Gifted Financial Services. These experts offer great financial services that help their clients keep their money game stronger. 

 

The NFL season is in full swing. If you are a football fanatic, then you must be no stranger to how much goes into each game – each week. Hours and hours of researching, scouting, and making plans go into every team’s game plan. Just like your favorite team requires a game plan to play well on the field, you also need a financial game plan to secure your future.

In this blog, we will explore the world of financial planning in terms that any football fan can relate to. Below, we will explain what financial planning is, its importance, and how you can handle it like a pro. So, let us begin!

What Is Financial Planning For Professional Athletes?

Financial planning is no less than a playbook for effectively managing your money. Consider it as an approach that your favorite team uses every week when they take the playing field. Similar to how these coaches map out their plays, you will also be mapping out your gameplan financial goals. Not only goals but along with them, you will also make plans on how you can achieve them.

Why Is Financial Planning Important For Football Fans?

Scoring Touchdowns (Goals Achievement)

Just as your team targets to get into the end zone, financial planning helps you score financial touchdowns. You can start by setting realistic goals (i.e., funding your kid’s education, buying a house, or comfortably retiring). It will help you plan like an athlete financial advisor and, thus, create a clear game plan to achieve your goals.

Making Gains (Wealth Accumulation)

Putting up yardage on the game field can be a game-changer. Financial planning assists you in accumulating wealth over time. It revolves around managing debts, budgeting, and investing wisely to elevate your net worth.

Avoiding Fumbles (Financial Security)

In football, even a tiny error can alter an entire game’s result. The same is the case for athlete financial planning. Financial planning creates a safety net so you are not caught unprepared by emergencies or unforeseen expenses. This financial security makes sure that you keep on playing (speaking financially).

Avoiding Penalties (Tax Efficiency)

Similar to how penalties hurt the progress of your team, taxes can also destroy your income. Financial planning involves strategies to minimize your tax liability.

Sideline Comfort (Peace Of Mind)

Knowing you have a properly structured financial game plan can decrease the amount of stress. It permits you to enjoy life’s game without stressing too much about financial planning for athletes.

The Financial Planning Process For Wealth Management For Professional Athletes

Let us break down how the entire process of financial planning:

Set Clear Financial Goals (Scoring Touchdowns)

The first step would be to define your financial goals. Just as your favorite NFL team targets aims for the end zone, you will aim for certain objectives. These objectives can be a comfortable retirement, home ownership, or even college funding.

Assess Your Financial Position (Know The Down And Distance)

It is a great idea to estimate your current financial situation, including your expenses, income, debts, and assets. It is like knowing all about the financial field and what players are filling out your schedule.

Create A Budget (Running The Offense)

Make a budget that highlights your monthly expenses and income. Think of it as your offensive playbook that guides your financial decisions. By keeping track of your monthly expenses, you can clearly see where you are at.

Develop An Investment Strategy (Executing Plays)

Identify how you will invest your money, just like coaches develop plays for their teams. Develop a strategy that is well aligned with your long-term goals and risk tolerance.

Protect Your Finances (Defensive Coverage)

Calculate your insurance coverage, such as your life, liability, and disability insurance. It is the unexpected financial hits against your defense. If you are caught with no insurance, a huge financial burden might severely dent your opportunities to achieve your financial goals. If you find yourself in need of expert advice, then feel free to reach out to any NFL financial advisor.

Manage Debt Wisely (Avoiding Fumbles)

Handle your debts just like your favorite players deal with their opponents. Make a game plan to decrease high-interest debts. Consequently, you will also preserve your financial strength.

Building An Emergency Fund (Special Teams)

Make an emergency fund to act as your financial cushion during unexpected events. This can help you a lot.

Optimizing Taxes (Avoiding Penalties)

Work with a tax advisor to reduce your tax liability lawfully. This is similar to making smart plays and steering clear of penalties.

Monitor And Adjusting (Halftime Adjustments)

Reviewing your financial game plan periodically can help you make sure that you are on the right track to meet your goals. Adjust your plans whenever you feel necessary.

Seek Professional Guidance (Coaching Staff)

Think of working with an NFL advisor who can serve as your coaching staff. They can offer personalized advice to explore the complexities of financial planning.

In Summary

This is how professional athlete wealth management is done. By setting realistic goals, following a perfectly structured plan, and assessing your current financial field position, you can work toward financial security. Moreover, you also get peace of mind and wealth accumulation in return. Whether you are planning out your financial success or cheering for your favorite team from the stands, a perfect game plan can help you confidently explore the realm of finance. It also makes you secure a brighter financial future for your loved ones as well as yourself. If you are beginning to put your game plan together or wish to track your credit scores, then feel free to contact reputed experts. The seasoned team at Gifted Financial Services is at your disposal. With their brilliant strategies, you will reach financial success much faster.

Credit card fraud impacts thousands of Americans every year. Many criminals use stolen or lost credit cards to commit fraud. On the other hand, others make illegal transactions without even having their victims’ credit cards in their possession. The criminals only require their victims’ basic account or card details to get access to their funds. They do not even require any fraud credit cards to do so.

Credit card fraud can be no less than a nightmare scenario for any business or individual. Fraudsters are constantly evolving their strategies to trap their victims when they least expect it. The only way to mark yourself safe from them is to understand what credit card fraud really is and how it functions. This information will help you defend yourself and avoid becoming a victim yourself. Let us uncover these bits of knowledge, but first, you need to understand this:

What Is Credit Card Fraud?

Credit card fraud is the illegal use of a credit card account to steal money or goods. Your credit card information is not only restricted to your wallet only. These details can also be found in web databases that have online purchase information. If these databases are breached or compromised, your card information might be stolen and used to commit fraud.

How Credit Card Fraud Works

Any business, regardless of what size, will have a huge surface area for credit card theft or even fraud. Dealing with credit card fraud can greatly impact your credit score ranges. So, it is better to know the ways in which it might happen. Here are some of the ways through which it can occur.

Lost Or Stolen Cards

Fraudsters can get your credit cards by either finding them if you lose them or stealing them from your possession. They might not be able to use the card at any point of sale, as the device will ask for the PIN. However, they can use it online to make purchases.

Card-Not-Present Fraud

This sort of fraud does not need the fraudster to have a physical credit card. Rather, they will get access to the basic details, such as the credit card number, the account holder’s name, as well as the expiration date. With such information, they can commit fraudulent activity online, via the phone, or even by mail.

Application Fraud

Instead of stealing existing card details, a criminal might rather apply for a new credit in their victim’s name. They can do this by using the victim’s personal information, including their date of birth, name, address, and social security number. These criminals might even steal supporting documents to authenticate their application. To combat this, you can hire trustworthy credit score monitoring services, i.e., Gifted Financial Services, to monitor your credit. In this way, you can steer clear of any frauds these fraudsters might think of committing.

Counterfeit, Doctored, Or Faked Cards

Devices known as skimmers can unlawfully get credit card details. These machines get information using the magnetic strip of your card, which the fraudsters can then encode into a faked, counterfeited, or even doctored card. It can be difficult to put apart an ATM or a regular card reader and one having a skimmer attached to it. So, if you ever lose your card, make sure to feel its card reader to check if it feels normal and tight.

Account Takeover

After accessing your personal information, a fraudster can contact your credit card company. They can even pretend to be the account holder by giving information such as passwords, card details, or previous purchases. This entire act is known as “Social Engineering.” They will do this to register a change of address and then report the card as stolen or lost to get their hands on a new card sent their way through the mail.

Intercepting Cards In The Mail

If a credit card company sends out a replacement or new card via post, then the fraudster might be able to steal or intercept the package from the account holder’s mailbox. This is why many card issuers use unmarked packaging and letters while sending out cards. If you are facing any of these frauds, then we suggest you contact any credit score services to report the fraud. Gifted Financial Services is the best bet when it comes to getting help against fraud. So, contact these experts right now and let them deal with these issues.

Signs Of Credit Card Fraud

By reading the information given above, you now know how the fraud works. We think it would be wiser for you to know the signs of these frauds to be aware, just in case. So, read on to find more regarding this:

Suspicious Charges

This is the most commonly occurring sign of fraud. Be alert for any changes that seem new to you. No matter how minor, if you do not recognize something, take action against it. Otherwise, you might end up with a bad credit score or worse.

Unknown Merchants

If you notice any charges from merchants that seem out of character for your spending habits or the ones that you do not recognize, it might be a potential sign of fraud.

Payments From Other Locations

Any charges from places that you have not been to might also be a sign that someone out there is using your card. So, press a credit card abuse charge as soon as you can to avoid any further issues.

New Accounts Opened In Your Name

If you get bills or credit cards for accounts that you did not open or notice a new account on your report, it might be a sign of identity theft.

Unusual Correspondences

If you get unsolicited calls from any credit card companies regarding debt, it might be a fraudulent account that someone else opened under your name. Moreover, if you stop getting statements or emails from your card issuer, it can be an indication that a criminal has changed your billing information.

Changes To Personal Details

Any changes to the personal information on your credit card account must warrant a closer look. For instance, a new phone number or billing address on your account or an order for a new card that you did not request.

How To Report Credit Card Fraud To Police

Have you found any of these signs happening to you? Well, it is high time you report it to the higher authorities. Being a victim of credit card fraud, you must contact your credit card issuer immediately. You can proceed as follows:

1. Jot down whatever you are dealing with and how you noticed the fraud
2. Keep all the documentation that you think will help with the police investigation
3. Contact the local police service to file your complaint
4. If you think the company has been hacked, contact them immediately
5. Keep on checking your credit card statements to ensure that there are no further fraud charges

Summing It All Up!

Credit card fraud can happen to anyone. Therefore, you need to be extra vigilant in order to not fall into the traps of these fraudsters. However, even if you do, thankfully, there are a lot of services that can help you safeguard your accounts. One such service provider is Gifted Financial Services. These experts keep your finances more secure and protect your identity. So, if you ever find yourself in need, contact them and let them handle all the stress on your behalf.

Do you need to cover unexpected medical bills, replace your home furnace because it is not providing enough heat, or consolidate your credit card debt? Personal loans are available to borrowers throughout the credit spectrum. However, with the right steps, you can make sure that you get the best loan that fits your budget and needs.

You can apply for personal loans through online lenders, credit unions, or banks. If you qualify for a loan, you will get a lump sum of cash that you can spend on whatever you like. After that, you can pay your loans back in periodic monthly payments. If you are thinking of how you can qualify for it, then here are seven steps that will guide you through the loan application process.

A Step-By-Step Guide To What Does It Take To Get A Loan

Step No. 1 – Check Your Credit Score

It is convenient to get better terms and a lower interest rate if you have perfect credit score ranges. So, the initial step in getting a personal loan is to know your score. If it requires improvement, you must take all the effective steps right away to increase it. Moreover, you can also use this information to estimate rates or prequalify.

Step No. 2 – Compare Estimated Rates

After knowing your credit score, you must also build a clear understanding of the loan you need and how long you wish to have the loan (for term). Begin conducting your research on various lenders. You should compare estimated rates on the basis of your loan amount and credit scores. You can also use a personal loan calculator to compare your estimations. Moreover, there are a lot of credit score monitoring services, such as ally personal loans, that can help you with this matter. If your estimated rates are high, you can even consider a secured personal loan or even a co-signer.

Step No. 3 – Get Prequalified For Loan

To aid you in comparing more personalized terms and rates, you can prequalify for the loan if your lender permits it. It will give you a chance to preview your estimated rates prior to applying. This will prompt a soft credit check. So, if you have any concerns regarding “My credit score dropping” then worry not, as it might not influence your scores at all. It will not automatically qualify you for a loan, and your actual rate might differ, but it will give you a great idea for comparison.

Step No. 4 – Conduct Your Research And Compare Lenders

Conduct your research with various lenders, as each one of them will offer you a different rate, fee, terms, reviews, customer service ratings, and types of loans. Think about what you require the loan for (i.e., for a wedding, medical bills, debt consolidation, etc.). Then, find a lender that offers everything that will help you achieve personal loans. To find the best rates, we suggest it would be best if you prequalify for loans with different lenders, such as credit unions, banks, and online lenders.

Step No. 5 – Read The Fine Print

Once you have cut down your options, ensure that you read the terms carefully and get answers to any queries that you might have. To be specific, focus on:

1. Prepayment penalties, origination fees, and late fees
2. You do not want any surprises once you apply for the loan
3. Automatic withdrawal payment options
4. Restrictions on what you can use the loan for
5. Total APR (which includes fees), not only interest rates
6. Customer-friendly loan features, i.e., reporting payments to the credit bureaus, how using the loan for consolidation works, or changing payment dates

Step No. 6 – Apply

After choosing your potential lender, it is high time for you to apply for a loan. Many lenders will permit you to do this online. However, some of them request or require you to visit their branch and apply for it physically in person. Even though the application requirements might vary, typically, you will need:

1. Identification, like a passport, driver’s license, Social Security card, or state ID
2. Proof of income, like a bank statement, W2, tax return, or pay stub
3. Proof of address, such as lease agreement or utility bills

Step No. 7 – Get Approved And Accept The Loan

If you get the approval, the lender will notify you, and you will need to accept the terms and finalize your loan documents. After doing so, the loan funds will be transferred into your bank account. If not, then you will be sent a check in about one to two business days. However, it might also take up to a week.

What Are The Benefits Of Obtaining A Personal Loan

There are a lot of perks that you can get by getting a personal loan. However, these perks are dependent on several factors, in part on how you are planning to use the funds. The major benefits of obtaining a personal loan are:

1. Easy application process
2. Lump sum funding
3. No collateral required
4. Fast funding
5. Flexible repayment terms
6. Improve your credit score
7. Higher borrowing limit than credit card
8. Predictable repayment schedule
9. Lower interest rates than a credit card

Summing It All Up!

With this step-by-step process to assist you in assessing your lender options and finances, you now know how you can get a personal loan. If you still have any confusion, feel free to seek help from trustworthy credit score services, such as Gifted Financial Services. Whether you apply now or in the future, you can now identify your loan requirements and get through the application process with no stress. Keep in mind that if a lender does not approve your application, then they might be doing you a huge favor. Getting your application declined can be a sign that you need to recheck your current credit obligations and improve your finances. By doing so, you can become the sort of borrower every lender wishes to see.

How to find out your SSN – this question often bothers people. Your Social Security Number (SSN) is a key chunk of your identity in the United States. You can find it by checking your Social Security card. You can also ask your guardian if they know it, talk with a former employer, check your documentation, or even request a new social security card.

SSN is only a smaller card that reminds you of the number. It is easy to find yourself in a situation where you have forgotten your SSN. If you are wondering, “Where is my SSN?” then here are some ways to find your nine-digit number.

How To Find Your Social Security Number?

Look At Your Card

Checking your Social Security Card is often the fastest way to find your SSN. All social security cards come with an individual’s SSN and name printed on the front. This is true even for the people who are not allowed to work in the United States. If you have an SSN, you will also get a card right with it. Even if you do not have a physical card, it does not mean that you were not assigned your Social Security Number.

Talk To Someone Who Might Know Your SSN

If you think that someone out there might know how to know your SSN, give them a call. It is mostly a legal guardian or a parent who requests the issuance of a child’s Social Security Number. Moreover, it is common for an adult to give the child’s SSN on forms as the child grows up. Due to this reason, a guardian or parent might have their child’s SSN memorized and be able to offer it if required.

Check Tax And Financial Documents

Your SSN usually appears on financial statements and tax documents. Review tax forms such as your older ones or tax returns to see if your SSN is in one of them. If you cannot access your tax forms, look at other financial documents you have available. Some bank summaries or statements from investment accounts might include your Social Security Number at the top.

Contact A Former Employer

The Social Security Administration (SSA) asks all employers to verify the SSNs of their employees. This ensures that an employee’s wages are reported accurately for tax purposes and that any Social Security payroll tax contributions go to the record of the right person. If you have forgotten your SSN and are worried about “how to find my social security number?” then maybe try contacting a former employer to check whether they still have it. The employer will probably not provide you with such sensitive information over a call. So, you need to be ready to visit them in person for identity or verification.

Request A New Social Security Card

If you have exhausted all of your resources and still cannot figure out how to look up social security number, you can request a replacement card. This replacement Social Security card is free, and if you require it without updating any information, you can probably request a new card online. You will have to give a state-issued ID, and you might be required to take additional documentation to a local Social Security Administration to verify your identity.

How To Get Back Your Stolen SSN

If your Social Security card has been stolen or lost, or if you think your SSN has been compromised, we suggest you take some action. Otherwise, you might not be able to improve your credit score. There are some steps that you can take to help prevent the chances of someone else from using your information to open accounts in your name. The steps are:

Add A Security Alert

Contact any reputed credit score services, such as Gifted Financial Services, and request an initial fraud alert, also known as a security alert, to be added to your credit report. These services will notify the major credit bureaus so that they can also add these alerts. You have to monitor your credit score ranges and scores carefully. Take time to review reports from all three credit bureaus to check for any signs of fraud or identity theft. If you come across any information you think might be fraud-related, you can start the dispute online.

Notify The Social Security Administration

Contact the Social Security Administration to notify them if you think your SSN was stolen or lost or if someone might be trying to use it fraudulently.

Monitor Your Credit Going Forward

You can hire reputed credit score monitoring services, such as Gifted Financial Services, to ensure that you are alert to any changes to your credit report immediately.

File A Police Report

If you think that your information is being used by someone without your permission or if your SSN is stolen, do not think twice before filing a police report.

Who Can Request A Social Security Number

All the United States citizens can request their SSN. Surprisingly, many non-citizens might also be able to request a number if they attend school or work. Moreover, if the non-citizens have a more valid reason, they can request a social security number. People who might require a new SSN are:

1. Deferred Action for Childhood Arrivals applicants
2. Noncitizens
3. Domestic violence survivors
4. Foreign workers
5. International students
6. Citizen children

Summing It All Up!

An SSN or Social Security Number is a unique identifying number that is related to U.S. citizens as well as other residents within the country. It goes back to 1936, about the time when the Social Security Administration was established to offer Americans with disability and retirement benefits.

Today, the requirement for an SSN goes around calculating what you are allowed to get as a result of the contributions you have made throughout your working life to Medicare and Social Security. It is necessary to apply for loans, open financial accounts, apply for unemployment assistance, and get yourself a driver’s license. Your SSN is your key to important future perks. If you are still confused about how to find SSN number, then we suggest you hire experts to find it for you. Once you retrieve your SSN, make sure to protect it along with the card that it is on.

A security freeze or a credit freeze keeps the sensitive data in your credit files from being accessed without consent. A credit freeze is one of the significant manners to help prevent fraud and identity theft, even if the person committing this felony has your private information, such as your social security number, birth date, or anything else.

The great part is that freezing your credit is free, and it does not harm your credit in any way. So, if you are interested in knowing about how to freeze your credit, then say no more. Read on to get expert insights on this matter.

What Is A Credit Freeze?

A credit freeze restricts your access to your credit reports while protecting you against the attempts of scammers to access your credit reports and open fraudulent accounts. If a scammer applies for credit using your personal details, the card issuer or lender typically checks your credit prior to making a decision. So, if you have your new balance freeze, the prospective credit will not be able to check the data needed to approve your application.

How To Freeze Credit With All 3 Bureaus?

Contact each of the three major credit bureaus, Experian, Equifax, and TransUnion, one by one to freeze your credit. You can also ask any credit score monitoring services, such as Gifted Financial Services, to help you with this method.

Equifax

Go online or call 800-349-9960.

Experian

For information, call 888‑397‑3742 or go online.

TransUnion

Go online or call 888-909-8872

The easiest way to freeze your credit is online through your profile with each of the secondary credit bureaus. But putting a freeze over the phone is also quick. Bureaus must place the freeze in one business day if you apply it online or through a call. However, if you request it through mail, you will get it frozen in three business days.

Information You Need To Freeze Your Credit

It is a great idea to have all the documents that you will require by your side prior to beginning a credit freeze. While the major credit bureaus have a bit different requirements, here is the information that you would typically require to offer:

1. Social Security number
2. Date of birth
3. Address

Based on how you will begin your credit freeze, by mail, online, or by phone, you might also require the following documents:

1. A copy of your military ID, driver’s license, or passport
2. Proof of your address
3. Copy of tax documents, utility bills, or bank statements

You must be aware that if you freeze your credit via phone, be ready to answer some authentication queries, too. Once your credit freeze is in place, it will secure your credit report unless you lift the freeze. You can unfreeze your credit whenever you want to.

Why Is My Credit Frozen If I Didn’t Freeze It?

If you come across that one or more of your credit reports are frozen, but you did not start a freeze request, it is certainly something to worry about. There are a few reasons why your credit might have been frozen without you applying for it, such as:

1. System errors
2. File mix-ups
3. Identity theft or fraud
4. Data breaches

When Should I Freeze My Credit?

Experts recommend freezing your credit files in order to keep an eye on your accounts proactively. Reviewing bank statements, credit card bills, or even credit files from time to time helps a lot. However, these actions are reactive and cannot shoo away potential fraud.

A credit freeze is a free tool that restricts your access to your credit reports and can help you stay protected against identity theft. While these reports are an ideal resource, they are not a fool-proof method to steer clear of fraud. Credit files decrease access to your credit and restrict new openings of accounts, but they do not stop someone from stealing your credit card number.

Who Can Access My Credit Once It’s Frozen?

When you freeze your credit, you restrict who can access your credit report. You can still access your credit and can review your credit report for free. Fraudsters would not be able to open new accounts in your name, even if they have your personal information, such as your social security number or more. Any banks that you have contact with will keep on having access to your credit files. To get help with this, you can seek help from credit score services, such as Gifted Financial Services.

Does Freezing Credit Card Affect Score?

Credit freezes do not impact your credit scores. They restrict your access to your credit files, which can keep creditors from checking your credit scores. However, information can still be added and removed from your credit reports. Thus, you can still review your credit scores and reports whenever you wish.

Summing It All Up!

And that is it! This is all you need to know before you freeze your credit. A credit freeze can block access to your credit files. However, there are some major differences. Credit freeze services are free and mandated by federal law. However, a credit lock is something that you must be given voluntarily by a credit bureau, which might cost a fee. If you still require guidance with freezing your credit, then feel free to seek help from experts such as the ones from Gifted Financial Services.

If you placed a security freeze (also known as credit breeze) to prevent people from accessing your credit reports, you might want to reopen your credit files sooner or later. For instance, you might need to open them to rent an apartment, apply for a new car loan, or get a credit card. To do so, you will need to unfreeze your credit. Here is all that you should know about how to unfreeze an account. The good news is that it takes little to no time. So, let us dive a bit deeper!

All You Need To Know About How To Unlock A Credit Card

All of the major credit bureaus, Experian, Equifax, and TransUnion, need you to set up accounts to freeze or unfreeze your credit. You can do this either online or with each bureau by speaking with their customer service departments or by mail. If you are a legal guardian or parent, you can also freeze or unfreeze your child’s credit or that of a disabled adult.

You have to individually unfreeze your credit from all of the major credit bureaus. Unless you know which credit bureau your creditor is using for credit checks and choose to lift your freeze at just that one. You can also opt to unfreeze your credit permanently. However, experts from Gifted Financial Services do not suggest you give up the protections you can get by freezing your account. Unfreezing it temporarily or on an as-required basis is much less hassle than unwinding the impacts of identity theft.

If you are thinking about How long does unfreezing credit take? Then the answer depends on which credit bureau you are going for. Here is how you can unfreeze your credit with the three major credit bureaus.

How To Unfreeze Credit With Experian

You can schedule an Experian credit freeze lift to happen during a certain time period or in an instant with only a tap if you are completing the process online. Unfreezing your credit report can also be done temporarily or permanently. If you unfreeze your credit permanently, it means that your file will remain open until another credit freeze starts. If you go for a temporary thaw, creditors can review your credit for a limited amount of time. In order to unfreeze your credit by mail, you will have to send your name along with some personal information and copies of verification documents.

Contact Options:

If you wish to unfreeze your Experian credit, then contact them using the information given below.

Online

https://www.experian.com/

Mail

Experian Security Freeze, P.O. Box 9554, Allen, TX 75013.

Phone

888-397-3742.

How To Unfreeze Credit With Equifax

You can unfreeze your Equifax report online by creating a myEquifax account. You do not need to have a PIN to lift a credit freeze or freeze an Equifax credit report online. However, you can opt for one if you wish. Equifax permits you to unfreeze your credit permanently or temporarily. If you opt to unfreeze or freeze your credit by phone, you will have to verify your identity by receiving an OTP by text or answering security questions.

In order to unfreeze or freeze your Equifax credit report by mail, you will be required to download a form from the Equifax website and give copies of documents that verify your address and identity, such as your utility bill and your social security card.

Contact Options:

If you wish to unfreeze your Equifax credit, then contact them using the information given below.

Online

https://www.equifax.com/

Mail

Equifax Information Services LLC, P.O. Box 105788, Atlanta, GA 30348-5788.

Phone

888-298-0045.

How To Unlock Transunion Credit?

You can unfreeze your TransUnion credit report online via the TransUnion Service Center, for which you need to create an account. You can also unfreeze your credit report by mail or phone; give your address, name, social security number, and birth date. You can remove a TransUnion credit freeze for a certain time period. Your TransUnion credit stays unfrozen or frozen unless you elect to make alterations to it. You can also ask expert service providers from Gifted Financial Services to help you unfreeze your credit without even having to lift your finger.

Contact Options:

If you wish to unfreeze your TransUnion credit, contact them using the information below.

Online

https://www.transunion.com

Mail

TransUnion, P.O. Box 160, Woodlyn, PA 19094.

Phone

800-916-8800.

How Long Does It Take To Unfreeze Bank Account?

Contrary to what you might think, account freezes are actually temporary in a lot of cases. They need you, as an account holder, to take specific actions to unfreeze your account. Once you complete the required actions, the freeze will be lifted. Thus, the time taken to unfreeze your account will vary on the basis of your exact situation.

How To Unfreeze Bank Account Online

If you wish to get your account unfrozen but you know nothing about it, then why not rely on online experts to do it for you? For instance, you can contact experts from Gifted Financial Services and ask them to help you with the case. You will be surprised at how efficiently and quickly your account will recover without you having to lift even a finger.

Summing It All Up!

And that is it! This is all you need to know about how to unblock credit card. Online services, such as Gifted Financial Services, as well as mail and phone-based options, are some of the best ways to unfreeze your credit reports efficiently. No matter if you need to thaw your credit report temporarily or unfreeze it permanently, you can work with each bureau or ask service providers to make your report available to external sources whenever required.

Whether you have begun your first job in a new place with zero credit or you got into some credit card debt a while ago, low credit scores might occur. Sadly, having less-than-stellar credit might make it way more complex for you to get those shiny keys to an apartment if you reside in an area where credit scores play a huge role in the rental equation.

Getting an apartment with bad credit – somewhere from 300 to 570, is something extremely difficult. But, fortunately, it is not impossible. It might only take a little more work and that is it. If you are willing to know more on this matter, then let us start with.

How Does A Bad Credit Impact Apartment Rentals?

Now that you know whether can you get an apartment with bad credit or not, there are a few things that you need to be aware of. Firstly, while checking renting applications, landlords use credit to review the applicant’s ability to pay on time. This information is present in your credit report, along with your overall financial situation. Moreover, if you have a low credit score or bad credit, with a history of paying your bills after the deadline, then your prospective landlord might think of you as someone who does not pay rent on time.

And why would any landlord want to end up with a non-paying tenant? It would only make them go through an expensive and lengthy legal process to remove the tenants. Thus, it is needless to say that the preference is to get it right on the very first step, which is by doing a credit check. If you have a bad credit score, then worry not. Because there are many strategies that you can follow to get yourself an apartment, let us look into it, shall we?

Strategies For Getting An Apartment With Bad Credit

Offer A Larger Deposit

Just because you possess bad credit does not mean that you will be denied an apartment. There are still apartments that accept bad credit. However, for that, you must be prepared to pay a bit more (if you really need the place) upfront by a few month’s rent before time or an increased deposit to ease any of the concerns your landlord might be having.

Find A Cosigner Or Guarantor

A lot of areas that offer low credit apartments require a cosigner if the applicant does not make it above a specific income based on the monthly rent charged. And, even if your apartment does not need it, getting someone to cosign with you might be the ultimate answer to your apartment issues. You must know that a cosigner has to sign a legal document that states that if the applicant misses a payment, they will be liable to make those payments in their place. So, you must have a trustworthy cosigner since their credit might be negatively affected by any mistakes that you make.

Show Proof Of Steady Income

If you are worried thinking about Can I rent an apartment with bad credit? here is a tip to shoo away your worries. Showing up prepared is an ideal way to convince your landlords that you are indeed serious about your application, even if you do not possess the credit to back it up. It also proves that you are responsible in other areas, no matter if you have not been able to achieve a perfect credit score just yet. For instance, if you have a sufficient amount in an emergency fund to cover a bunch of months’ rent, make sure you bring such statements as a backup.

Provide References From Previous Landlords

Bring some up-to-date financial documents to prove your income for the past few months, particularly if you make a good salary. Moreover, you can also bring some letters of recommendation as well. Getting letters from your previous landlord confirming that you are indeed dependable and reliable might work wonders. So, if you were thinking, Can I get an apartment with bad credit? you totally can.

Sign A Lease With Someone Else

Another way how to get approved for an apartment with bad credit is to sign a lease with someone else. However, this one requires a good amount of trust. If you are comfortable with getting an apartment with a roommate, you can have the application run in your potential roommate’s credit score; then, you can make your rent payments directly to them. This would not work in every situation, although some of the landlords need all occupants to be on the lease.

How To Increase Your Score To Get An Apartment?

Pay Bills On Time

Thirty-five percent of your entire credit score is your payment history. How you pay your bills and if you do it on time plays a massive part in your score. When a potential landlord reviews your credit report, they are basically looking to get an idea of your payment history. There is a strong correlation between your ability to pay your rent and your bills on time. In this way, you can also get apartments with bad credit and maintain your score.

Reduce Debt

It is also significant to lessen your debt and the balances you have on your cards. Your credit usage also plays an important part in your credit score monitoring services. It is the percentage of available credit that is in use. The lower your rate, the more you will score. Lower credit usage also indicates that you are using your credit responsibly.

Dispute Credit Report Errors

When you are trying to get approval for apartments that accept bad credit, some of the elements on your credit report that can pose a threat to your plans might surprise you. It makes sense to collect all three major credit reports, check if there are any issues, and file a credit report dispute to get rid of them. If you need help with disputing these errors, you can contact experts from Gifted Financial Services, and they will efficiently handle these matters on your behalf.

Summing It All Up

And that is it! We hope this answers all your queries regarding How to get an apartment with bad credit? Even though getting an apartment with bad credit is possible, it is difficult. So, why tread in hot water when you can avoid the entire situation by maintaining or fixing a perfect credit score? We suggest you try fixing your score rather than finding loopholes. It will serve you a lot better in the long run. But, if you have no other option, then you can literally get yourself an apartment even with a poor credit score.