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Follow Friday: Weekly Web Roundup (10/28/11)

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This week we give you several reasons to care about credit, including saving thousands from low mortgage rates, securing your most personal data and receiving payments on your smartphone. Your credit knowledge, savvy and scores will dictate your financial future and there’s no better time to keep your eye on the ball than now. As always, if you enjoy any of our favorite bloggers, we encourage you to follow them on Twitter for regular updates. And don’t forget to follow Credit.com at @CreditExperts

Now Your Credit Card Company Wants Your DNA

It’s not shocking that credit card companies want to sell your data to online advertisers. However, it is shocking to know that they would like to package and sell a profile of you mapped to your DNA. Experts say that building marketable DNA databases would be charting new water with the possibility of very rough seas. @Time

Opening a Store Credit Card This Holiday Season Could Cost You the Lowest Mortgage Rates

Mortgages rates are lower than they have been in decades, but if you want to join in the action, your credit score has to be healthy. Opening a store card this season could jeopardize that health in a big way. Find out how a credit card with a $2,500 balance could cost you $10,000 in the long run. @MarketWatch

Square’s Credit-Card Swipe Hits Walmart

The Square is bumping up its retail presence, now selling at Walmart and almost ten thousand more retail locations. Making small business and peer-to-peer transactions easier and more accessible will surely change the way we make purchases. The rise of the Square is upon us, and it looks like it will only be a matter of time before we’re all making payments on a small square device attached to someone’s phone. @CNNMoney

On the Call: Visa CEO Saunders on Debit Card Fees

Visa’s CEO remains confidant that debit card use won’t become a thing of the past due to the backlash from new fees for users. He cites new regulation for the need for banks to charge these fees and is optimistic that debit cards will continue to be popular. The rise in the necessity of prepaid cards has opened up a growth market that the credit card companies are happy to cater to, as well. @Businessweek

Credit Card Fraud Without a Computer

We generally assume that there’s a risk in giving credit card information online, which is true but it’s also safe to assume that there’s risk in any form of sharing credit card information. If purchasing online, over the phone or even in a brick and mortar store there’s a chance your card number will be stolen. The best ways to combat this is to regularly check your account for any discrepancies and make quick contact with those who need to know. @Seattletimes

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Thanks for checking out Credit.com. We hope you find the site and the journalism we produce useful. We wanted to take some time to tell you a bit about ourselves.

Our People

The Credit.com editorial team is staffed by a team of editors and reporters, each with many years of financial reporting experience. We’ve worked for places like the New York Times, American Banker, Frontline, TheStreet.com, Business Insider, ABC News, NBC News, CNBC and many others. We also employ a few freelancers and more than 50 contributors (these are typically subject matter experts from the worlds of finance, academia, politics, business and elsewhere).

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We take great pains to ensure that the articles, video and graphics you see on Credit.com are thoroughly reported and fact-checked. Each story is read by two separate editors, and we adhere to the highest editorial standards. We’re not perfect, however, and if you see something that you think is wrong, please email us at editorial team [at] credit [dot] com,

The Credit.com editorial team is committed to providing our readers and viewers with sound, well-reported and understandable information designed to inform and empower. We won’t tell you what to do. We will, however, do our best to explain the consequences of various actions, thereby arming you with the information you need to make decisions that are in your best interests. We also write about things relating to money and finance we think are interesting and want to share.

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Our Business Model

Credit.com’s journalism is largely supported by an e-commerce business model. Rather than rely on revenue from display ad impressions, Credit.com maintains a financial marketplace separate from its editorial pages. When someone navigates to those pages, and applies for a credit card, for example, Credit.com will get paid what is essentially a finder’s fee if that person ends up getting the card. That doesn’t mean, however, that our editorial decisions are informed by the products available in our marketplace. The editorial team chooses what to write about and how to write about it independently of the decisions and priorities of the business side of the company. In fact, we maintain a strict and important firewall between the editorial and business departments. Our mission as journalists is to serve the reader, not the advertiser. In that sense, we are no different from any other news organization that is supported by ad revenue.

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Credit.com is owned by Progrexion Holdings Inc. which is the owner and administrator of a number of business related to credit and credit repair, including CreditRepair.com, and eFolks. In addition, Progrexion also provides services to Lexington Law Firm as a third party provider. Despite being owned by Progrexion, it is not the role of the Credit.com editorial team to advocate the use of the company’s other services. In articles, reporters may mention credit repair as an option, for example, but we’ll also be sure to note the various alternatives to that service. Furthermore, you may see ads for credit repair services on Credit.com, but the editorial team isn’t responsible for the creation or implementation of those ads, anymore than reporters for the New York Times or Washington Post are responsible for the ads on their sites.

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Lastly, much of what we do is informed by our own experiences as well as the experiences of our readers. We want to tell your stories if you’re interested in sharing them. Please email us at story ideas [at] credit [dot] com with ideas or visit us on Facebook or Twitter.

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- The Credit.com Editorial Team