secure mobile banking

The Benefits of Safe Mobile Banking

Mobile banking is a relatively new technology that enables consumers to perform many common banking functions using their smartphone or tablet. While it has made banking more convenient for many consumers, perhaps the greatest advantage offered by mobile banking is the opportunity it provides to help you manage your accounts — 24 hours a day, seven days a week, wherever you are.

Mobile banking can help you avoid late payments by enabling you to make a payment wherever you happen to be. Paying bills on time is key to maintaining a good credit score. If you realize that you have forgotten to pay your credit card bill for example, you know it’s important to make a payment right away. Using your mobile device, you can log in using a secure network and pay your bill from anywhere.

Mobile banking also enables you to check your balance using your mobile device, which can help you manage your finances more easily. For example, if you’re out shopping and need to know how much is available in your account, you have that information immediately available and right in your hand.

 

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Do authorized users build credit?

Do Authorized Users Build Credit? Pitfalls and Alternatives

In an effort to build credit, consumers that have no credit history or need to repair negative credit history frequently become authorized users (AUs) on other people’s accounts or credit lines. AU’s take this approach thinking the payment history of the card’s primary user will appear on the their credit report and improve their credit. However, as an AU, you may receive and use a credit card with your name on it, but you’re not legally responsible for repaying the balance.

A quick online search of the phrase “Authorized User” will result in various blogs and articles stating that being an AU is a viable way to establish credit. Though it may be a widely accepted practice, becoming an AU has many pitfalls and delivers no guarantee that it will build a good credit history or repair a bad one. Consider these negative possibilities before deciding to become an AU.

 

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