Junk mail. No one likes it. Most people will take a glance at the envelope then throw it away. But it’s key to give each letter a thorough check. Some credit card issuers are now sending cardholders statements in plain, unmarked white envelopes that look like a solicitation, or junk.
Even though statements incognito can minimize the chances that your credit card bill will be taken from your mailbox by an identity thief, analysts say that consumers keep an eye out for the statements that are unmarked. If you throw out a credit statement without looking at it, it can lead to large credit troubles.
The reason why credit card issuers have changed the look of the statements is because delinquencies at credit card companies are increasing more and more every day. Because of this, issuers are outsourcing more of their jobs to call centers and agencies. Third party agencies are prevented from a lot of techniques that the original creditors could have done. To avoid potential lawsuits and violation of law, agencies are now sending out statements using plain white envelopes.
Because payment history is accountable for about thirty five percent of your credit score, one missed payment due to the mistake of throwing the white envelope away can be costly.
To keep unmarked bills from ruining your credit score, choose a way to receive statements that is safer then the post office. Go on the internet and track your statements there. Always open all of your mail, even if you feel that it may be junk. Come up with a list of your monthly expenses and all of your accounts. Include due dates for bills in this list.
In a recession it is imperative that consumers protect their finances and do their absolute best to keep an adequate credit score. Taking these simple measures might do a world of good.
Mallory Megan works for a debt collection agency. Also she writes articles on business, finance, consumer spending and collection agencies. You can get a unique content version of this article from the Uber Article Directory.
