Coalition ups pressure on Thomson over card use

Posted by administrator | 17/08/11 | Tagged Credit Card

Coalition ups pressure on Thomson over card use
News from ABC Online:

Jeremy Thompson

Updated August 17, 2011 21:12:40

Embattled Labor backbencher Craig Thomson has come under further pressure over the use of his Health Services Union credit card to pay for escort services while he was the union’s national secretary.

The Opposition is ramping up pressure on Mr Thomson over the case, attempting to force him out or trigger a by-election to bring down the Government.

Mr Thomson, Labor member for Dobell on the NSW central coast, has been accused in Federal Parliament and in Fairfax newspapers of using a union credit card to pay for prostitutes.

During defamation proceedings begun by Mr Thomson against Fairfax in the NSW Supreme Court, credit card vouchers with Mr Thomson’s signature, phone records and his driver’s licence details were alleged to reveal how he had used his union credit card to pay escort agency services in April 2005.

“Yes, I authorise…………… continues on ABC Online
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Interest rates 101: How banks set your rates
News from Chicago Sun-Times:

Updated: August 17, 2011 7:46PM

When Standard & Poor’s downgraded the country’s debt rating, most experts thought mortgage rates would start climbing. Yet rates slipped to record lows the following week.

Then consumers were expected to cheer when the Federal Reserve said it would keep interest rates close to zero for another two years. But if the Great Recession is any indication, that’s no guarantee that credit-card rates won’t spike anyway.

Although the linkage isn’t always clear, shifts in the broader economy do ultimately impact how much consumers pay to borrow money. Banks use a variety of benchmarks to set rates on various loans.

Here’s how recent …………… continues on Chicago Sun-Times
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Saving a Buck: Credit Card Debt

Posted by administrator | 17/08/11 | Tagged Credit Card Debt

Saving a Buck: Credit Card Debt
News from KFOR:

Good news for credit card users and companies. According to the credit reporting agency TransUnion, the number of people making late payments has hit a 17-year low. That means payments are coming in on time saving Americans a buck on late fees.

TransUnion says 1994 was the last time the credit card delinquency rate was this low.

Jennifer Wallis with Consumer Credit Counseling Service says, “I think over the last few years it’s been a big wake up call to people to realize finances are something they really need to pay attention to.”

TransUnion has also reported seeing an increase in use of credit cards. 

Wallis says back in 2008 credit card companies made a lot of changes which may explain the drop. 

She says, “They’ve really gotten rid of, dumped a lot of their high-risk borrowers.”

They’ve also lowered limits and tightened the reins on who gets approved for a new card. 

Wallis says, “For a long time, credit cards were easy to get and…………… continues on KFOR
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Facing unemployment or credit card debt? There’s hope –
News from in war – msnbc.com:

Jadiam Lopez

Jadiam Lopez outside his quarters in Ramadi, Iraq.

By Bob Sullivan

Artillery fire led directly to our first conversation. Blasts in the distance awoke Jadiam Lopez at 4:30 a.m., as often happens, so he e-mailed me. 

“We just had incoming. We can talk now if you like,” he wrote.

At most firehouses, the alarm that wakes firefighters in the middle of the night means it’s time to go to work saving property, or lives. In Iraq, nightly alarms mean grab your “battle rattle” and save yourself. 

Years of punishing recession and persistent high unemployment rates have places millions of Americans in places and situations they’d never dreamed of. For Lopez, that place is a government complex in Ramadi, Iraq, about 60 mi…………… continues on in war – msnbc.com
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Credit card late payments at 17-year low

Posted by administrator | 17/08/11 | Tagged Credit Card

Credit card late payments at 17-year low
News from MSN Money:

Give yourselves a collective pat on the back: More of you are paying credit card bills on time. In fact, the rate of delinquency — payments 90 days or more past due — was just 0.6% in the second quarter of this year, the lowest it’s been since 1994.

On the other hand, the average amount of credit card debt is moving in the wrong direction (although it’s still near record lows). “The average combined total debt for all major credit cards increased by $ 20 from the first three months of the year, to $ 4,699 per borrower,” The Associated Press reports. (Do you have too much debt? Try MSN Money’s calculator.)

It wasn’t just more respo…………… continues on MSN Money

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Cops: Man tried to use fake credit card at Milford bank
News from Ct Post:

MILFORD — A New York man trying to use a counterfeit credit card to gain a cash advance Monday at Chase Bank on the Boston Post Road was caught by bank employees and prevented from accessing the money, police said.

Randolph Arvelo, 32, of the Bronx, is facing a multitude of charges, including second-degree forgery, third-degree identity theft and criminal impersonation after the incident Monday at 2 p.m. at the 1651 Boston Post Rd. bank.

Police said Arvelo presented what employees later determined to be a counterfeit Chase Bank credit card and requested to conduct a cash advance for $ 3,800. Arvelo also displayed a counterfeit New York state driver’s license during the attempted transaction, police said.

“A bank employee suspected the documents were fraudulent and contacted the police department,” said Officer
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