Joint accounts are becoming more prevalent, especially in todays economy. We suggest you avoid joint accounts unless you have complete control of the payments. That’s because if the bill isn’t coming to you, the person you are co-signing for may not pay the bill if they can’t afford it, which will ultimately affect your credit!

Credit card fraud is also becoming more likely, especially for new accounts. For example, people are opening credit cards in someone else’s name, charging and not paying the balance. This is something to keep an eye on because this could damage your credit and take years to repair. We recommend everyone sign up for fraud alert on your credit report.