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69 Articles and Resources. Go to: [Next 19]
Date Fairness.com Resource Read it at: Jul 18, 2012 Capital One to pay $210 million in fines, consumer refunds
QUOTE: Cardholders who enrolled in a payment protection or credit monitoring product -- or who tried to cancel one of these products but were persuaded by a call center representative to keep it -- on or after August 1, 2010, will be refunded the money they paid for the product, as well as any finance charges, over-the-limit fees or interest paid....The latest action marks the first enforcement for the bureau since it began regulating credit cards, mortgages and consumer reporting agencies as part of the Dodd-Frank regulatory reform last year.
CNN/Money Magazine Jun 19, 2012 Online credit card complaint database to debut
QUOTE: A new online database...created by the Consumer Financial Protection Bureau, will begin by posting grievances against credit card companies...."Disclosing every complaint, without any indication of the veracity of the complaint, is inherently misleading," wrote Fred R. Becker Jr., president of the National Association of Federal Credit Unions.
CNN/Money Magazine May 06, 2011 ID Theft Tool That Sony Isn’t Using
QUOTE: A surveillance service is reactive. By the time you get an alert from one, thieves may have already done a lot of damage. A security freeze, also known as a credit freeze, is proactive.
New York Times May 22, 2010 In shoppers' online networks, privacy has no price tag
QUOTE: Blippy, a sort of Twitter for shopping that allows users to automatically broadcast what they bought using credit and debit cards to the rest of the world....privacy advocates say that users are divulging a dangerous level of personal financial information...
Washington Post May 14, 2010 Debit Fee Cut Is a Rare Loss for Big Banks
QUOTE: Retailers have begged Congress for years, in vain, to limit the fees they must pay to banks when customers swipe credit or debit cards...That long record of futility ended in a landslide Thursday night. Sixty-four senators, including 17 Republicans, agreed to impose price controls on debit transactions over the furious objections of the beleaguered banking industry.
New York Times Apr 01, 2010 Pay Garnishments Rise as Debtors Fall Behind
QUOTE: One of the worst economic downturns of modern history has produced a big increase in the number of delinquent borrowers, and creditors are suing them by the millions. Concern is mounting in government and among consumer advocates that the debtors are not always getting a fair shake in these cases.
New York Times Mar 17, 2010 Reducing the Anxiety of Paying Online
QUOTE: Deciding which online payment method to use would seem to be a simple matter of picking whichever offers higher security. But the wise consumer also weighs the legal protections in the case of theft: the best security and the lowest liability don’t necessarily go together. Here’s the lowdown on the risks associated with the most popular ways to pay online...
New York Times Feb 25, 2010 Second phase of Credit CARD Act changes begins (The Color of Money)
QUOTE: here we are in 2010, contending with a new law aimed at helping cardholders who have gotten deeply into debt for stuff they could not afford and have been kept there by lenders' policies.
Washington Post Jan 18, 2010 Scam Alert: No PIN at the Pump: You swipe your debit card, and ‘skimmers’ swipe your money
QUOTE: “skimming,” in which crooks place a portable card-reading device—readily available over the Internet—inside the pump. When the customer inserts his debit card and enters the required personal identification number, the device captures both the data from the card’s magnetic stripe and the PIN.
AARP Jan 09, 2010 The Damage of Card Rewards (Your Money)
QUOTE: the 1 to 3 percent or more of every transaction that merchants pay to accept the cards is a significant cost, and the small local retailers that make neighborhoods vibrant often pay a higher percentage. Stores then build those fees into higher prices, so people who aren’t earning any rewards can end up subsidizing those who do.
New York Times Aug 18, 2009 Three Alleged Hackers Indicted in Large Identity-Theft Case
QUOTE: A federal grand jury has indicted three people on charges of hacking into the files of the credit and debit card processing giant Heartland Payment Systems last year in what the Justice Department is calling the largest identity-theft case ever prosecuted.
Washington Post Jul 27, 2009 Credit card firms raise fees before law changes
QUOTE: Chase [JPMorgan Chase & Co] is but one of a number of major credit card companies that are jacking up interest rates and fees, or laying the groundwork to do so, before new federal legislation that cracks down on some of the practices goes into effect in February.
Boston Globe Jun 17, 2009 New Regulation Rules: Their Impact on You
QUOTE: More Capital Reserves…but Less Stability....Hedging in the Hedge Funds....Mortgage Makeover … or Just More Risk....
Smart Money May 12, 2009 What Does Your Credit-Card Company Know About You?
QUOTE: credit-card companies are becoming much more interested in understanding their customers’ lives and psyches, because, the theory goes, knowing what makes cardholders tick will help firms determine who is a good bet and who should be shown the door as quickly as possible.
New York Times Dec 18, 2008 Credit card holders livid about 'rate-jacking'
QUOTE: [credit card companies] have this provision that says they can raise the rate -- any time, any reason," she said. In September, Maloney got the House to pass by an overwhelming margin of 200 votes the "credit card holders' bill of rights," which would have stopped rate-jacking and the imposition of other fees by banks.
CNN (Cable News Network) Dec 12, 2008 Visa to the rescue: Caught in the MPC Chapter 11 mess (or any warranty mess, for that matter)? Maybe your credit card can help.
QUOTE: According to the Visa site, "Warranty Manager Service offers you a number of valuable features, including warranty registration and Extended Warranty Protection."
InfoWorld Nov 24, 2008 Store credit cards a good deal?
QUOTE: Consider the following pros and cons before you apply for a store card.
Bankrate.com Jun 04, 2007 Congress nips at heels of credit-card companies: Both the Senate and the House have held hearings this year on what consumer advocates regard as greedy practices by credit-card firms.
QUOTE: Today, credit-card companies often charge interest rates to consumers that many would regard as usurious, that is, excessively high....Both the Senate and the House have held hearings this year on what consumer advocates regard as greedy practices by credit-card firms.
Christian Science Monitor Jan 05, 2007 Company credit card reimbursement games
QUOTE: I work for an organization and routinely front for expenses and am later reimbursed. Recently, I charged more than $75,000 on credit cards for expenses. My question: Is it worth it to transfer the $75,000 to a zero interest card and deposit my reimbursement money into a high yield savings account? Or am I playing with fire...
Bankrate.com Jul 27, 2006 Choosing the right card to travel: Consumers can expect some pretty hefty charges for using credit cards overseas ... a little investigation beforehand is worthwhile.
QUOTE: For the credit card industry, fees linked to foreign-made purchases provide a nice line of revenue. MasterCard (Charts) and its competitor Visa charge bank issuers 1 percent for every purchase consumers make abroad...Banks jumped on the bandwagon, charging a fee of 1 to 2 percent of their own on top of the fees passed down by Visa and MasterCard.
CNN/Money Magazine Jul 26, 2006 New scam to vatch for: vishing
QUOTE: vishing....fraudsters skip e-mail altogether and "cold call" consumers -- phoning at random for financial information. Some calls involve automated messages; some calls are live.
Bankrate.com Jul 14, 2006 Even in collections, bad debt mounts
QUOTE: One common misconception is that once you stop making payments on your credit card debt, and it is written off or is turned over to a collection agency, any applicable interest charges and fees on the account stop. That is incorrect. The terms for the account remain in effect when the debt is sold to another company.
Bankrate.com Jul 01, 2006 Suits Challenge Credit Bureaus
QUOTE: In a case with potentially far-reaching significance for mortgage applicants nationwide, a South Carolina consumer has filed class-action lawsuits against the three national credit bureaus, charging that they allow a practice that lowers the credit scores of millions of people.
Washington Post Jul 01, 2006 Suit calls unreported credit limits unfair
QUOTE: In a case with potentially far-reaching significance for home mortgage applicants across the country, a South Carolina consumer has filed class-actions against the three national credit bureaus, charging that they allow a practice that lowers millions of individuals' credit scores.
Washington Post May 15, 2006 20 savvy tips for using plastic on vacation
QUOTE: Look for a foreign currency exchange fee or foreign transaction fee, says Howard. What can be really galling: Some banks will add them to the bill even if the merchant conducts the transaction in U.S. dollars.
Bankrate.com May 01, 2006 Changing the due date on your credit card
QUOTE: Why not move your bills around, so they're not so heavy one part of the month and so light at another? Some issuers will allow you to balance out your monthly payments by changing the due dates on your credit cards.
Bankrate.com Dec 15, 2005 Ex-wife keeps using joint credit card
QUOTE: By law, a creditor cannot close a joint account because of a change in marital status, but can do so at the request of either spouse. A creditor, however, does not have to change joint accounts to individual accounts.
Bankrate.com Dec 06, 2005 Welcome to a crueler bankruptcy world
QUOTE: Credit card companies lobbied our country's elected representatives and asked them to pass laws to prevent this. It was a good idea, in theory. In practice, the laws increased bankruptcy attorneys' responsibilities.
Bankrate.com Dec 02, 2005 Snared by credit card teaser-rate trap
QUOTE: The credit card company is applying the entire payment against the promotional balance, which means my high-rate balance isn't going down. Is this legal?
Bankrate.com Nov 07, 2005 Debt negotiators can crush your credit
QUOTE: Beware of companies that promise to cut your bills in half by negotiating lower payoff amounts from creditors. Sign on with a debt negotiator or debt-settlement company and your credit rating and your wallet could take some serious hits. If high fees and trashed credit aren't bad enough, you may also owe taxes on any debt that gets wiped away.
Bankrate.com Nov 07, 2005 Rental car insurance protects from financial wreck
QUOTE: Many credit companies will not allow you to use their collision insurance if you purchase any from the rental car company. But because some cards do not include liability coverage, they will allow you to purchase that. Merely having "insurance" isn't enough -- find out what kind and how much.
Bankrate.com Sep 29, 2005 What financial records to keep and how long to keep them
QUOTE: ...the following are suggestions about how long you should keep personal finance and investment records on file...If you made a nondeductible contribution to an IRA, keep the records indefinitely to prove that you already paid tax on this money when the time comes to withdraw.
Bankrate.com Jul 24, 2005 Max Out Your Credit Knowledge
QUOTE: "...Is it a certain percentage of your credit-card credit overall or a percentage of your credit on a particular card?" The credit-scoring algorithm looks at the credit utilization rate for each active account and, separately, a person's credit usage for several accounts together...
Washington Post Jun 24, 2005 Are you being overcharged for overseas purchases?
QUOTE: This extra profit is called a foreign currency-conversion fee, and you could be paying up to 3-percent extra when you make an overseas purchase with a credit card.
Bankrate.com Jun 20, 2005 Lost Credit Data Improperly Kept, Company Admits
QUOTE: "The chief of the credit card processing company whose computer system was penetrated by data thieves, exposing 40 million cardholders to a risk of fraud, acknowledged yesterday that the company should not have been retaining those records."
New York Times Jun 20, 2005 Is freezing your credit the way to safeguard your ID?
QUOTE: "Because few lenders will issue credit without first seeing a credit report, identity thieves can't open fraudulent accounts using the name of someone who has frozen their credit reports."
USA TODAY Jun 14, 2005 A Fee Even the Card Issuers Cannot Explain
QUOTE: "...Visa suspended its 1 percent international service assessment on all single-currency cross-border transactions. In a statement, Visa said only that it was "reviewing the fee structure," but you can't help suspecting that complaints from customers was the reason."
New York Times May 27, 2005 Who will inherit my credit card debt?
QUOTE: When you die...If the estate cannot pay off the debt, no one else can be held responsible for your debt unless he or she is a co-signer on the account.
Bankrate.com May 24, 2005 8 steps to take before bankruptcy
QUOTE: Try to improve your situation and, since the clock is ticking, investigate the bankruptcy option. No matter which way you go, here are a few things to try in the meantime to bring your debts under control...
Bankrate.com May 10, 2005 Thieves love debit cards, so keep them safe here's how
QUOTE: To protect yourself from identity theft, hold your credit cards close, and your debit cards closer. Armed with the right information, thieves can use your debit card to make fraudulent charges or withdraw money from your bank account.
USA TODAY May 09, 2005 12 questions to ask before transferring credit-card balances
QUOTE: Those low-interest credit-card balance transfer offers showing up in your mailbox almost daily -- some going as low as zero-percent -- are hard to resist. But read before you leap. The fine print, that is. You could end up paying more than you would have if you'd just stayed put.
Bankrate.com May 06, 2005 A MyFamily Tradition
QUOTE: What two things do Ancestry.com, Genealogy.com, Family Tree Maker software and a number of other genealogy-related website and products have in common? One is that they are all happily members of the same corporate family under "parent" company MyFamily.com Inc. The other is that they share a family trait of generating gripes from customers about sneaky credit card charges.
InfoWorld May 03, 2005 Good news, bad news: credit card minimum payments doubling
QUOTE: "People are now in a revolving debt cycle that they'll never escape," says Adam Brauer, a debtor advocate....regulators with the Office of the Comptroller of the Currency began pressuring credit card companies to hike up minimum payments.
Bankrate.com Mar 29, 2005 First move for identity theft victims: Place fraud alert on credit reports
QUOTE: If you receive a notice that your personal information may have been stolen, you should act quickly to safeguard your identity. For most consumers, that means putting a fraud alert on your credit reports...
USA TODAY Jan 25, 2005 Avoiding maiden name mayhem
QUOTE: Not every bride takes a married name....But most women do...Do it incorrectly and it can cost you financially, get you in trouble with the Internal Revenue Service and even damage your credit rating.
Bankrate.com Sep 30, 2004 Merchants Pay (and Pay) for Right to Use Credit Cards
QUOTE: ...the customer's first two charges totaling $1,000 were also denied and thus charged back, even though the baskets had been delivered.... merchants typically had no recourse for fraud...
New York Times Sep 23, 2004 Feds Warn Banks About Credit Card Practices: "Repricing" of Accounts, Unrealistic Promises, Short-Term Promotional Rates
QUOTE: "The OCC expects that customers be given adequate information and fair choices in the selection of credit products,"...
ConsumerAffairs.com Sep 20, 2004 Balance transfer checklist
QUOTE: If you've decided to transfer credit card balances but don't know how to go about it, print out and save this page to ensure a smooth transition from one credit card to another.
Bankrate.com Sep 15, 2004 Top 10 hidden dangers of credit cards
QUOTE: "Just read the fine print of your credit card agreement,"..."It's a license to steal."
Bankrate.com Aug 31, 2004 Your Personal Data Is Often at Risk
QUOTE: How long can corporations store your credit card information? Forever, if they want.
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