The best password can protect you from fraudsters hoping to take a peek at your financials. But making one that’s strong enough and easy to remember isn’t so simple. You’ll need some help before you can confidently safeguard your next loan account.
Everyone’s been there before. You’re happily living life until suddenly you’re slapped with an unexpected emergency. Unfortunately, it wouldn’t be a true emergency if it didn’t arrive when your savings are dust, and your credit score is rock bottom.
Without any cash at hand, you need to take out a loan online to cover these frustrating expenses. So, you hit the web and search for loans for bad credit to compare your options, weighing up the pros and cons of installment loans vs lines of credit.
All your hard work here will eventually lead you to an online loan that works for your emergency. But for those who struggle with passwords, rate shopping and filling out an application is child’s play compared to the next step: creating a profile.
Any online loan account demands a strong password. Your first instinct may be to use easy-to-remember words like your pet’s name or alma mater, but these options are easy to hack.
So what makes for a memorable yet uncrackable password? There’s a science to it, but it’s easy to learn. While no two strong passwords are alike, they do share these features in common.
While some websites will let you get away with a password that’s just six characters long, you’ll want to aim for at least 15 characters for your next online loan. The longer your password is, the harder it is to guess.
Another way you can throw off brute force attackers is by using a variety of letters, numbers, and symbols. And when you do, you’ll want to be unpredictable. You don’t want to choose common substitutions when inserting numbers and symbols, like [email protected]
One of the worst things you can do when creating a password is mining your life for inspiration. Although your first pet, hometown, and birth year are easy to remember, they’re also usually already floating around on the web. A fraudster only has to look at your social media to find these things.
You make their job even easier if you publicly share quizzes and chain status updates that reveal your preferences. Many of these games have you answering the typical security questions in multi-factor authentication, like “what city were you born?” and “what high school did you attend?”.
Stay away from these high-risk details when creating your next password. Instead, try a random collection of characters.
A truly random password might look like this ArCTT$8″ f2!h]D)4. Gesundheit!
How are you expected to remember that? If you’d struggle to keep this one under the dome, you could try out passphrases.
A passphrase uses multiple, unrelated words in place of the usual keyboard smash of characters. Here’s an example: CloudyHurdyGurdyZenPitcher. For the best results, choose words that paint a mental picture so that you’ll remember their sequence long term.
Apply These Best Practices to Every Account
Once you create a strong password for your loan online, it’s time to review your existing profiles. Any financial account contains juicy personal information that a scam artist needs to empty your accounts or open fraudulent payday loans in your name. Lock these fraudsters out with a strong password.