Intersections Inc. (NASDAQ:INTX), the leader in creditmanagement and identity theft services for consumers, has releasedCREDITPROTECTX3(SM) en Espanol, a new Spanish language creditmonitoring and identity protection service designed with the Hispaniccommunity in mind. From Web site and program content in Spanish tolive bilingual customer service representatives, CREDITPROTECTX3 enEspanol is the first credit management service with comprehensivebilingual capabilities. The service provides online and offlineenrollment services, Web pages, member area tools and resources,product fulfillment (credit reports, scores, and alerts), live CreditEducation Specialists, and a toll-free 800 number option all in bothEnglish and Spanish.
According to a 2006 Identity Fraud Survey conducted by JavelinStrategy Research, Hispanics are disproportionately affected byidentity theft and experience the highest average loss of funds(approximately $8,180) when compared to losses experienced by otherethnic groups. A majority of these individuals first detect fraudulentactivity once they have become victims of identity fraud.CREDITPROTECTX3 en Espanol is the first Spanish-language service tofeature monitoring from all three leading national credit reportingagencies - Equifax(R), Experian(R) and TransUnion(SM) -- and providesa credit report with side-by-side comparisons of data compiled fromall of the three credit reporting agencies (including three creditscores).
"Intersections prides itself on its consumer relations," saidMichael Stanfield, Chairman and CEO of Intersections. "We recognizethe importance of credit education among the Hispanic community, whichis largely underserved by many financial products and services.Intersections is committed to building high quality products andsupport resources to assist Hispanics in managing and accomplishingtheir personal financial aspirations."
Among the various features, CREDITPROTECTX3 en Espanol includes anearly warning system that monitors credit files and notifies consumersof potentially fraudulent activity. Additional services includeunlimited online access to the consumer's credit information, andone-on-one live bilingual personal assistance for victims of fraud ortheft.
Individuals' credit reports and scores play an important role inthe amount a person must pay to obtain a loan and can also affectwhether or not a person will be able to rent an apartment or get ajob. Credit scores are impacted by factors such as late payments,delinquent accounts and high amounts of debt. CREDITPROTECTX3 givesHispanic consumers access to the same credit report informationlenders review, and provides them with tools and bilingual customersupport to analyze and monitor changes to that information over time.
As a general rule, Intersections' CREDITPROTECTX3 Credit Education
Specialists advise customers:
1. Pay bills on time. Creditors scrutinize personal credit history.
Paying bills on time reflects well. If one has a record of
delinquent payments, they might want to consider credit counseling
on how to better manage finances from a reputable, accredited
provider. Intersections does not provide credit counseling.
2. Manage debt. Keep track of debt/income ratio -- the percentage of
personal income that goes to paying off debt. To calculate, divide
monthly minimum debt payments (excluding mortgage) by monthly
take-home income. If personal debt payment absorbs
-- Between 20% to 35%, consider reducing overall debt
-- More than 35% consider credit counseling or some type of
aggressive debt-reduction strategy.
3. Do not over-apply for credit. Limit the number of loan
applications submitted. Each bid shows up as an inquiry in
personal credit reports. Even if just comparison shopping for the
best rate, too many inquiries can be viewed as a desperate bid to
obtain credit to get out of financial trouble.
4. Check credit reports on a regular basis. The only way to protect
against identity theft and credit is to be proactive. With the
rise of identity theft cases, it is important to review credit
files, and to report any inaccuracies to the major credit
reporting agencies.
Proper credit management is essential in reaching financialsuccess. Although many people know that credit management isimportant, few know how to go about managing their credit correctly.Knowledge is the most important tool in taking control of personalcredit and preventing identity theft. For more information onCREDITPROTECTX3 en Espanol, go to http://www.indentityguard.com andclick on the tab "Espanol" or call 877-665-6762.
About Intersections
Intersections Inc. (NASDAQ:INTX) is a leading provider of brandedand fully customized identity management solutions. By integrating itstechnology solutions with its comprehensive services, Intersectionssafeguards more than 5 million customers, who are primarily receivedthrough marketing partnerships and consumer-direct marketing of thecompany's IDENTITY GUARD(R) brand. Intersections also providesconsumer-oriented insurance and membership products through marketingpartnerships with the major mortgage servicers in the United States aswell as other financial institutions through its subsidiary, CharteredMarketing Services, Inc. Additionally, through majority-ownedScreening International LLC, Intersections provides pre-employmentbackground screening services domestically and internationally inpartnership with Control Risks Group Limited of the United Kingdom.Learn more about Intersections Inc. at http://www.intersections.com.
