QUICK CONSUMER TIPS
As a savvy consumer, you should always be alert for shady deals and scams. To protect your money and avoid becoming the victim of fraud, keep these things in mind:
1.A deal that sounds too good to be true usually is!
Offers that fall in this category are promises to fix your credit problems, low-interest rate credit cards, deals that let you skip payments, business/job opportunities, risk-free investments and travel free.
2. Extended warranties or service contracts are rarely worth what you pay for them.
3. Say no to credit insurance offers.
Often accompanies credit cards, car loans and home mortgages; in general- it's better to purchase the regular property.
4. There is NO UNIVERSAL 3 DAY COOLING-OFF period.
Don't be mislead into thinking you have an automatic 3 days to cancel a purchase. Only a few types of contracts actually allow you to cancel
5. Think twice before sharing personal information.
6. Beware of payday and tax refund loans. Interest rates are usually excessive.
7. Not all plastic cards offer the same protections.
Your liability for misuse of the card may be higher than the $50 maximum on your credit card.
8. Real estate agents represent the seller not the buyer!
9. Home improvements and auto repairs are the subject of frequent complaints.
Second opinions are useful when using a repair service you are unfamiliar with.
10. Think twice before you rent to own.
Interest rates on them can be pretty high, and one missed payment could leave you with NOTHING!
11. Don't buy under stress!
Senior citizens, students, entrepreneurs, minorities and immigrants are especially at risk for being victimized.
12. Be cautious of BUY HERE, PAY HERE LOTS.
Referring to used car lots, make sure you read all the papers prior to signing and departing (this way they can't change the finance rate on you once you walk out the showroom)
13. Work-At-Home ads usually DO NOT PAY OFF!
They promise huge salaries while charging upfront fees and cause you to waste lots of time and energy
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Contributor's Note
Now, especially, is the time to be careful consumers.
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