Low Rates May Do Little to Entice Nervous Consumers

Posted by administrator | 15/08/11 | Tagged Credit Card Debt

Low Rates May Do Little to Entice Nervous Consumers
News from New York Times:

The Federal Reserve’s announcement last week that it intended to keep credit cheap for at least two more years was a clear invitation to Americans: Go out and borrow.

But many economists say it will take more than low interest rates to persuade consumers, a c…………… continues on New York Times

… Read the full article
.

Related News:

Debt Comes Home to Roost
News from Town Hall:

S&P downgrading our debt rating to AA+ and Wall Street tumbling ought to let you know that we have a debt problem in Washington, but let’s bring that problem home!

Dave Ramsey makes the current debt situation simple: “If the US Government was a family, they would be making $ 58,000 a year; they spend $ 75,000 a year and are $ 327,000 in credit card debt. They are currently proposing BIG spending cuts to reduce their spending to $ 72,000 a year. These are the actual proportions of the federal budget & debt, reduced to a level that we can understand.”

But numbers can’t do justice with the kind of conversation a free-spending husband and an angry, budget-minded wife might have behind closed doors!

“You owe what?!”

“It’s just credit card debt, Honey! We don’t have t…………… continues on Town Hall
… Read the full article


Tweaking ID latest in credit card scams

Posted by administrator | 15/08/11 | Tagged Credit Card

Tweaking ID latest in credit card scams
News from The Detroit News:


Last Updated: August 15. 2011 1:00AM

Brian J. O’Connor/ Detroit News Finance Editor

If your next credit report shows listings for a strange credit card, an unfamiliar phone bill or a strange apartment lease, it may not be a case of identity theft, but the growing trend of identity manipulation.

Detroit leads the country in this kind of fraud, which involves people altering part of their own personal information on applications for credit, cellphones, auto loans or apartments. Lansing and Flint aren’t far behind.

Manipulators are not looking to stick someone else with their bills. Instead, they’re trying to dodge old debts or legal problems when they open new accounts. To sidestep their own poor credit history, they change birth dates, vary their name or tweak a digit or two in their Social Secu…………… continues on The Detroit News
… Read the full article
.

Related News:

BillGuard: A Must-Have For Credit Card Users
News from Business Insider:

If you use more than one credit card and you have a pulse, you need to sign up for BillGuard.

Last week I met with the company’s CEO, Yaron Samid, and CTO Raphael Ouzan in New York.

I was politely skeptical, until about five minutes in when Mr. Samid pulled out his laptop and logged into his own BillGuard account, which had already successfully flagged a fraudulent transaction on one of his cards, saving him money.

The first thought that popped into my mind: “Everyone will sign up for this within the next couple years.”

The second thought: “I should sign up my credit cards for this when I get home.”

What it is and why it matters:

— BillGuard is a free service that uses crowd-sourcing and advanced algorithms to detect potentially fraudulent transactions on your credit cards. These include “subscription…………… continues on Business Insider
… Read the full article


© 2017. Credit Card Talk