Calif. man gets prison over fraud in Neb., Wash.

Posted by administrator | 25/07/11 | Tagged Credit Card

Calif. man gets prison over fraud in Neb., Wash.
News from Sacramento Bee:

A California man has been ordered to serve 51 months in prison for using stolen credit card numbers in Nebraska and Washington.

The U.S. Attorney’s Office in Omaha says 45-year-old Siddiq Talib, who also goes by Von Wilson, of Van Nuys, Calif., was sentenced Friday in federal court for credit card and bank fraud. He was also ordered to pay more than $ 180,000 in restitution.

The office says Talib flew to Omaha in July 2009 to use the numbers stolen from customers of Wells Fargo Bank and Royal Bank of Scotland Citizen Bank. He made purchases at various locations in Omaha and Lincoln.

Authorities say Talib made similar purchases in the Seattle area. The sentence also covers those crimes.

…………… continues on Sacramento Bee
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Credit card companies use bonuses to woo new customers
News from East Valley Tribune:

How would you like $ 200 cash, four free nights at a Marriott or two free round-trip flights to California just for signing up for a credit card?

Bonus offers on credit cards have never been juicier, said Cardratings.com founder Curtis Arnold, who has followed the industry for about 10 years.

Arnold said he was “blown away” recently by an offer he received — and quickly snapped up — for the American Express Business Gold rewards card. He’ll get $ 500 in gift cards if he charges $ 2,000 in the first three months, plus the card’s $ 125 annual fee is waived for the first year.

With credit card defaults easing and the reforms ushered in by the credit card act behind them, card issuers are going after customers with new vigor.

Overall, credit card soli…………… continues on East Valley Tribune
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A push for more proof in debt-collection lawsuits

Posted by administrator | 25/07/11 | Tagged Credit Card Debt

A push for more proof in debt-collection lawsuits
News from Baltimore Sun:

Marquis Jones doesn’t believe she owes money on a credit-card account that a debt-buying company sued to collect from her.

More importantly, though, the firm never proved she did.

But because the Severn woman wasn’t given notice of the lawsuit — the company’s process server claimed her nonexistent “wife” accepted the summons — she wasn’t in court to point this out. So an Anne Arundel County judge approved a $ 992 judgment against her last fall.

The scene has been repeated in courtrooms throughout Maryland and across the country. Companies that buy past-due consumer debts and sue to collect have won judgments against Marylanders even though, advocates and regulators say, the documentation to prove those cases often has been very thin.

“This is a $ 100 billion-dollar-a-year industry … the sale of ‘accounts receivable,’ ” said Peter A. Holland, who runs a
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Individuals spending beyond means faster than government
News from Dayton Daily News:
Updated 10:20 PM Sunday, July 24, 2011

By Randy Tucker

Staff Writer

Americans criticize government leaders for running up the federal budget deficit, but do they practice what they preach?

Not really.

Individuals are living beyond their means at an even greater rate than the government, based on recently released household debt figures.

U.S. household debt totaled $ 13.4 trillion at the end of 2010, or about 107 percent of the $ 12.5 trillion Americans earned in total household income last year, according to the Federal Reserve.

The government’s total debt of $ 13.8 trillion represented about 94 percent of the $ 14.7 trillion in national income, or Gross Domestic Product (GDP), last year.

“You hear people say that the government should manage its finances like the private sector does, but that’s the problem,’’ said James Brock, an economics professor at Miami University.

Brock said household debt bu…………… continues on Dayton Daily News
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Dollars and sense

Posted by administrator | 24/07/11 | Tagged Credit Card

Dollars and sense
News from Toledo Blade:
Home » Business
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Published: 7/24/2011

BY ASHLEY SEPANSKI
BLADE STAFF WRITER

The first credit card James Starks, 24, of Toledo, opened was a store card at Express, a mall retailer that caters to teens and young adults. He was 22 and knew he needed to start building a credit report.

“I figured that since I needed to build credit and shop there all the time, I might as well apply for one,” he said.

For two years he used only that card to make small purchases and then pay them off. Just a few weeks ago, he applied for his first Visa card in his name. These baby steps have helped him work toward a goal most young adults don’t often think about: good credit, something that’s essential for anyone making the transition into adulthood.

…………… continues on Toledo Blade
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Your Money: How to avoid credit card problems
News from Indianapolis Star:
Your Money: How to avoid credit card problems | The Indianapolis Star | indystar.com
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Decline in College-Affiliated Credit Cards

Posted by administrator | 23/07/11 | Tagged Credit Card

Decline in College-Affiliated Credit Cards
News from Business Insider:

College affinity credit cards seem to be especially popular with the alumni of schools such as the University of Southern California, the University of Michigan, Penn State and the University of Southern California. Card issuers would set up kiosks across campuses nationwide and at college sporting events, availing students of a myriad of credit card offers, including specialty-offers like cards with no annual fee or zero interest balance transfer. Sometimes kiosk staffers even handed out giveaways like T-shirts and candy as added incentives to apply for a credit card.

Now new Federal Reserve data shows that the amount of credit cards being issued through post-secondary institutions and alumni associations is steadily decreasing. Only 1.7 million were handed out last year as compared to just over 2 million distributed in 2009. Marketing agreements between universities and card-issuin…………… continues on Business Insider
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Americans reducing debt but relying on credit for basis necessities
News from Pivotal Payments:
22/07/2011 – Consumer credit continues to show strong value, as a recent report shows average credit card debt slid in the U.S. The trend may also be prompting Americans to rely on their credit cards to make purchases on basic necessities such as food and fuel.

CreditKarma.com reported this month that average consumer credit card debt fell by 10 percent over the first half of 2011 and 17 percent from a year ago to reach $ 6,472. Student and auto loan debt have both increased this year, while home mortgage and equity loans declined.

“Economists are optimistic about the second half of 2011 as gas prices continue to drop and home costs level off,” said Kin Lin, CEO of CreditKarma.com. “The data supports this trend, reflected by stable credit scores this year and consumers reducing their credit card debt.”

The study also evaluated credit trends on a state level, finding California, Massachusetts, New Jersey, New York, Utah and Washington to have the highest av…………… continues on Pivotal Payments
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More women than men seek help with personal debt, credit counselors find
News from Orlando Sentinel:
As cash-strapped Floridians attempt to chip away at their credit-card balances and other consumer debt, women continue to lead the way in seeking help with their own debt ceiling, experts say.

Women top men by a wide margin in Florida when it comes to getting professional help for debt problems, according to new figures from some credit-counseling operations that have clients throughout the state.

From single mothers and divorcées to those who became family breadwinners when their husbands lost their jobs in the recession, women have outnumbered men in the credit-counseling line for much of the past decade, the agencies say.

In Metro Orlando, for example, women now make up more than 62 percent of the client base at CredAbility of Central Florida, one of the largest credit-counseling agencies in the state. And when the Orlando-based organization checked its historical data, it found that a gender gap has existed in Florida since at least the middle of the past decade.

…………… continues on Orlando Sentinel
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Credit card companies use bonuses to woo new customers

Posted by administrator | 22/07/11 | Tagged Credit Card

Credit card companies use bonuses to woo new customers
News from ScrippsNews:

How would you like $ 200 cash, four free nights at a Marriott or two free round-trip flights to California just for signing up for a credit card?

Bonus offers on credit cards have never been juicier, said Cardratings.com founder Curtis Arnold, who has followed the industry for about 10 years.

Arnold said he was “blown away” recently by an offer he received — and quickly snapped up — for the American Express Business Gold rewards card. He’ll get $ 500 in gift cards if he charges $ 2,000 in the first three months, plus the card’s $ 125 annual fee is waived for the first year.

With credit card defaults easing and the reforms ushered in by the credit card act behind them, card issuers are going after customers with new vigor.

Overall, credit card solicitations more than doubled in the fourth quarter of 2010 to 1.4 billion, up from 551 million in the same period of 2009, according to Chicago-based Mintel Comperemedia. Eight in 10 offers were for reward cards — …………… continues on ScrippsNews
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Google Rolls Out Limited-Use Credit Card to Small Businesses
News from American Banker:

Google Inc. is getting into the business of credit. The online search giant is rolling out a limited-use co-branded MasterCard for small-business owners to help them buy its search-based advertising.

World Financial Capital Bank is issuing the no-annual-fee card, which carries a fixed annual percentage interest rate of 8.99%. There are no rewards associated with the card.

Google is clearly eager to find new audiences for its vaunted search-based advertising services, analysts said, but a narrow-use credit card may not be the smoothest approach to reaching that market.

The technology to restrict purchases to specific types of merchandise or services is not new, and confining cardholders’ purchases to advertising “will certainly limit the issuer’s risk,” said Brian Riley, a senior research director with TowerGroup. But the card appears to be unwieldy in several respects, he said.

“This card, as outlined, creates a lot of extra steps for …………… continues on American Banker
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5 Money-Saving Credit Card Tricks for Travelers
News from TIME:

Everybody knows about reward credit cards that let you accrue points or miles toward your next getaway. But there are other ways your credit cards — and how you use them — can save you money. You can stretch your summer vacation dollars with these tips — none of which require you to open up a new credit card account or enroll in yet another loyalty program.

1. Smart travelers — especially those whose trips take them outside U.S. borders — know it’s better to have a credit card that doesn’t tack on foreign transaction fees, which generally add 3 percent to the price of a purchase made overseas. But using any credit card will get you a better exchange rate than either getting cash from a U.S. bank before you leave or exchanging money when you reach your destination, according to Odysseas Papadimitriou, founder and CEO of Evolution Finance. He crunched the numbers and compared those three different ways travelers can exchange funds. “When you comp…………… continues on TIME
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Limit credit card use to achieve your goal

Posted by administrator | 20/07/11 | Tagged Credit Card

Limit credit card use to achieve your goal
News from mydigitalfc.com:
Sumeet Vaid

The concept of using credit for purchasing was described by Edward Bellamy in his 1887 novel Looking Backward, where he had used the term credit card 11 times in the novel. Since then, credit and credit cards have come a long way. Plastic money has taken over the world and credit has become a much scarier word.

The idea of buying now and paying for something later is a rather ‘happy’ concept. With a swipe of a card, you can wine, dine, go on a holiday, buy presents and even spread cheer to your loved ones. However, all this happiness usually goes for a toss when the bill arrives. That’s when you realise that you have not only accumulated too many unwanted charges, but also caused a dent on your financial goals.

The only way to assure that you achieve your goals on time is to avoid such expenses. While you may think that this is not possible, here’s a list of things you can keep in mind when it comes to your plastic money and credit:

Cash is always a bett…………… continues on mydigitalfc.com
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Credit Card Debt Consolidation Debt Relief Programs Offer Help
News from PR Urgent:

Credit Card Debt Consolidation and Debt Relief Programs Still Offer Powerfully Effective Help With Debt

FOR IMMEDIATE RELEASE / PRURGENT

Credit card debt consolidation and debt relief programs continue to offer powerfully effective help for the many Americans who suffer financial hardships and struggle with personal debt such as that from credit cards and medical bills. These programs and services have come a long way and are today easier than ever to apply for and qualify for.

Get Started With Debt Relief

The need for such credit card debt consolidation and debt relief programs has become acute now that the flat economic recovery has become increasingly clear. Consider the numbers: The U.S. unemployment rate rose in June for the 3rd consecutive month as the economy added fewer jobs than workers entering the job market.

The U.S. economy added a mere 18,000 jobs – fully less than o…………… continues on PR Urgent
… Read the full article
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Better than a Credit Card
News from Town Hall:

Dear Carrie: I’ve recently incurred some $ 4000 in credit card debt for an unexpected pet illness. Would it be a good idea to take out a personal loan to pay off the credit cards? Thanks. — A Reader

Dear Reader: With credit as tight as it is today, I don’t think many people consider the possibility of getting a personal loan. But a number of banks currently offer both unsecured and secured personal loans, and they can be a reasonable option in the right circumstances. (For example, some banks specifically offer loans and services designed to help people solve debt problems.) Whenever you think about a loan, the interest rate is a key consideration. However, it’s also essential that you understand all of the terms before you move ahead. Following are some things to think about as y…………… continues on Town Hall
… Read the full article


Credit Card Debt Consolidation Debt Relief Programs Offer Help
News from PR Urgent:

Credit Card Debt Consolidation and Debt Relief Programs Still Offer Powerfully Effective Help With Debt

FOR IMMEDIATE RELEASE / PRURGENT

Credit card debt consolidation and debt relief programs continue to offer powerfully effective help for the many Americans who suffer financial hardships and struggle with personal debt such as that from credit cards and medical bills. These programs and services have come a long way and are today easier than ever to apply for and qualify for.

Get Started With Debt Relief

The need for such credit card debt consolidation and debt relief programs has become acute now that the flat economic recovery has become increasingly clear. Consider the numbers: The U.S. unemployment rate rose in June for the 3rd consecutive month as the economy added fewer jobs than workers entering the job market.

The U.S. economy added a mere 18,000 jobs – fully less than o…………… continues on PR Urgent
… Read the full article
.

Related News:

Better than a Credit Card
News from Town Hall:

Dear Carrie: I’ve recently incurred some $ 4000 in credit card debt for an unexpected pet illness. Would it be a good idea to take out a personal loan to pay off the credit cards? Thanks. — A Reader

Dear Reader: With credit as tight as it is today, I don’t think many people consider the possibility of getting a personal loan. But a number of banks currently offer both unsecured and secured personal loans, and they can be a reasonable option in the right circumstances. (For example, some banks specifically offer loans and services designed to help people solve debt problems.) Whenever you think about a loan, the interest rate is a key consideration. However, it’s also essential that you understand all of the terms before you move ahead. Following are some things to think about as y…………… continues on Town Hall
… Read the full article


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