California businesses hit consumers with illegal credit card fee
News from Debtmerica Relief:

Some consumers in the state of California may have recently gotten an unpleasant surprise when they attempted to use their credit cards to make a purchase.

A number of small businesses throughout California were recently discovered to be charging consumers small fees for taking on credit card debt to make purchases, according to a report from Visalia television station KMPH. The state currently permits charges of this type to be tacked onto debit card purchases [only], and business owners also have the option of offering discounts for paying with cash.

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Credit card alert: Watch out for business card offers

Posted by administrator | 06/08/11 | Tagged Credit Card

Credit card alert: Watch out for business card offers
News from Christian Science Monitor:

Business credit cards don’t come with the same protections as personal credit cards. Unless you own a business, you don’t need a business credit card.

Inundated with credit offers? Well, who isn’t? From April through June, credit card companies sent consumers some 640 million offers – an 83 percent increase over the same period last year.

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If you’re thinking of accepting one of those offers, make sure that it’s for a personal credit card. If you apply for a business credit card, you could run up charges you never expected.

Consumers gained several protections when Congress passed credit card reforms in 2009, known widely as

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US consumer borrowing was up $ 15.5 billion in June
News from Louisville Courier-Journal:

Americans borrowed more money in June than during any other month in nearly four years, relying on credit cards and loans to help get through a difficult economic stretch.

The Federal Reserve said Friday that consumers increased their borrowing by $ 15.5 billion in June. That’s the largest one-month gain since August 2007.

The category that measures credit card use increased by $ 5.2 billion — the most for a single month since March 2008 and only the third gain since the financial crisis. A category that includes auto loans rose by $ 10.3billion, the most since February.

Total consumer borrowing rose to a seasonally adjusted annual level of $ 2.45 trillion. That was 2.1 percent higher than the nearly four-year low of $ 2.39 trillion hit in September.

Borrowing is usually a sign of confidence in the economy. Consumers tend to take on more debt when they feel wealthier.

But an increase in credit card debt could also signal that people are falling on harde…………… continues on Louisville Courier-Journal
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