2nd Fake Credit Card Case at Betteridge Jewelers

Posted by administrator | 22/09/11 | Tagged Credit Card

2nd Fake Credit Card Case at Betteridge Jewelers
News from Patch.com:

It what is the seocnd time in less than a week, Greenwich Police have arrested a suspect from New York City who is accused of trying to use a fake credit card to buy a Rolex watch from Betteridge Jewelers.

The scene unfolded outside the jewelry shop, founded in 1897, at 117 Greenwich Ave., shortly after 2 p.m. Sept. 20.

Police said they arrested James D. Wilson, 51, of 629 Throop Ave., Brooklyn, NY, after “the investigation (revealed) that the New Jersey Operators license along with the HSBC credit card presented for the intended purchase of a $ 30,665 Rolex watch was under the name John Neill. The New Jersey license was confirmed a forgery and the HSBC credit card was confirmed as a counterfeit reproduction.”

According to a police report, “Wilson admitted to false license and fraudelent credit card.”

He was charged with 1st-degree forgery, illegal reproduction of a credit card, 2nd-degree forgery, illegal use of a credit…………… continues on Patch.com

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Ryanair credit card fees warning
News from Financial Times:

Travellers who use a new Ryanair-branded pre-paid credit card will be able to reclaim the airline’s online booking fees – but will be charged for other purchases made on the card, and will not receive the level of protection offered by other credit cards.

Despite being subject to an ongoing investigation by the Office of Fair Trading into surcharges by airlines for card payments, the budget carrier, led by chief executive Michael O’Leary, has announced that it will continue to apply its £6 “administration fee” to all passengers who pay for flights using cards other than the Ryanair Cash Passport card.

Booking charges will still be added to the bills of customers using…………… continues on Financial Times

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Personal Credit Card Debt Repayment Programs For High Debt Balances–Do More …
News from Red, White, and Blue Press:

Recently we have seen reports that consumers increased the amount of credit card debt they had in the second quarter this year, but there have also been some banks who said that problems like delinquency and defaults have improved as of late and this has led some officials to question whether consumers are simply finding themselves in a better financial position in certain cases or if the larger picture shows that consumers may be relying more on credit cards to make ends meet. Obviously, if consumers are in a position where the number of cardholders making charges is comparable to data that shows consumers are paying off their credit card debts, this could be a positive sign but there are still factors like unemployment that need to be considered when looking into credit card use.

If consumers are looking to use their credit card as a way to make necessary purchases despite being in a position where they may not be able to easily meet re…………… continues on Red, White, and Blue Press

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Michigan couple honored for paying off $ 92000 credit card debt
News from CreditCards.com:

Two daughters’ weddings, a new transmission, a new roof and one big secret

By Connie Prater

The U.S. government can learn a lot about shedding debt from Jerry and Sue Bailey.

The Jackson, Mich., couple paid off $ 92,000 in credit card debt in 5-1/2 years. “I still can’t believe it when I hear the amount. I don’t wish this on anybody,” Sue Bailey says.

THE BIGGEST LOSERS (OF DEBT)

The National Foundation for Credit Counseling has honored Jerry and Sue Bailey for their dedication and sacrifice over more than five years that resulted in them paying off a $ 92,000 credit card debt.

The couple’s massive debt reduction earned them the Clients of the Year award from the National Foundation for Credit Counseling, a nonprofit association of credit counseling agencies that hel…………… continues on CreditCards.com
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Citigroup Mails More Credit Card Offers Than There Are Americans
News from Huffington Post:

Citigroup Inc. is hoping everyone and their mother and then some will sign up for a credit card.

The bank mailed 346 million credit card offers in the third quarter, The Wall Street Journal reports. That’s more than the approximately 308 million people in the U.S, according to the Census Bureau.

But even with the mailbox stuffing, the move may not pay off. Consumer use of revolving credit, which includes credit cards, dropped the most in six months in July, according to Bloomberg.

Americans may be saving more after racking up debt leading up to the recession, which could make it difficult for Citi’s mail to get answered. The continues on Huffington Post
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Credit card use to slow as dollar weakens?
News from Mozo.com.au:

Aussies shoppers may be less likely to use their credit cards in the coming months as the dollar has started to weaken and slip back into parity with the US dollar.

Over recent months, people have been more inclined to book holidays abroad and shop online as they take advantage of the attractive exchange rates, reports the Australian Associated Press.

Internet retail has done well recently as increasing numbers of consumers have tried to ensure they get the best deals possible by searching for products online.

A study by Macquarie Equities Research revealed that 18 per cent of people who visit high street stores are only window shopping and that if they make a purchase they will do so on the internet rather than in-store.

The report, published in July, revealed that the stre…………… continues on Mozo.com.au

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Android developers can finally use Card.io’s optical credit card reader
News from VentureBeat:

The last time we checked in with Card.io there was a major hole in the company’s software-based credit card payment solution for smartphones: There wasn’t an SDK for Android.

Today Card.io is changing that by making its optical character recognition credit card reader available to Android developers. This is an important step for the company because it’s targeting software developers, not merchants or consumers, with the technology.

The technology lets people snap a picture of their credit cards with a smartphone to purchase goods and services. Card.io reduces the number of taps requir…………… continues on VentureBeat
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Torabi: Get a credit card, use it responsibly!
News from msnbc.com:

Today Money financial expert Farnoosh Torabi joined us for a live Web chat Wednesday to answer your questions.

Here’s one of her answers to questions from the live chat. (See below for the full Q&A and video of Farnoosh’s TV appearance this morning.)

Raven asked:

“I’m a single mother of two, making minimum wage at one job. I usually don’t have extra money for anything like school clothes or anything or for emergencies if I were to get a flat tire or anything. I’ve been thinking about getting a credit card for these kinds of things. I also have zero credit so I thought getting a credit card might help for that too. Should i get one? If so what kind should I get? Or should I stay far away since I don’t make that much money?”

Farnoosh replied:

“I do think it’s important to open a credit card to begin establishing credit. However, carrying a balance on a credit card is NOT good for your credit score. You want t…………… continues on msnbc.com
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Credit Card Collections: Preparing for the Storm on the Horizon
News from InsideARM:

Patrick Morris

As the credit and collections industry weathers the economic storm of the past few years, there are those who believe that the sounds of thunder and lightning threaten its very survival.

While this storm has affected all consumers and all industries, we cannot allow our critics to define us and continue to paint a bleak picture. Regardless of whether you collect credit card debt, student loans, or other receivables, I believe this is the moment and opportunity to positively shape our future.

The problems that have been encountered in the past weren’t created by one segment of debt collection and neither should the solution. If we are to survi…………… continues on InsideARM
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Google Wallet

Posted by administrator | 20/09/11 | Tagged Credit Card

Google Wallet
News from CNET:

Google Wallet, which will allow people to tap or swipe their phones to pay for things, officially launches today on its first smartphone, the Samsung Nexus S offered on Sprint Nextel.

Google Wallet

(Credit: CNET/Marguerite Reardon)

While several other companies, including credit card giants Visa and American Express, as well as mobile wireless carriers, have also announced plans to launch their own digital wallets, Google is the first to take its digital wallet to market.

Citibank, MasterCard, and Sprint are the initial launch partners for the service. What this means for users is that, initially, virtually the only credit cards that will work with Google Wallet are Citibank MasterCards. Google is also offering a Google Prepaid MasterCard as well,…………… continues on CNET
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Seven credit card tips to help you secure your financial future
News from Bellingham Herald:

Credit cards don’t have to be a necessary evil. In fact, plastic has lots of benefits: convenience, rewards points and credit scoreboosting abilities, not to mention that a single card takes up way less space in your beaded evening clutch than a wad of dough.

But the downsides of plastic have been well-documented, and using your credit card as a way to finance a lifestyle you cannot afford can be your financial downfall. At press time, the average interest rate for credit card balances was nearly 13 percent, according to Creditcards.com. A quick use of a credit card calculator tells us that if you rack up a $ 2,500 credit card bill – not hard to do – and you pay just 5 percent of the balance each month thereafter, it will take you more than six years and cost you $ 648 in interest. So to avoid this nonsense, here are seven tricks and tools to use to avoid carrying a balance on your card.

1. Kevin Gallegos, vice president of operations for Freedo…………… continues on Bellingham Herald

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Leave it to Beaver, Season Six: The Credit Card

List Price: $ 1.99

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YOUR CREDIT RESOURCE: Is a credit card or loan best for smaller home repair …
News from Rapid City Journal:

Q. We’ve had a lot of storms in our area, and as a result, we’ve had some water damage to our floor. Insurance will cover part of the cost of replacing our floor. We anticipate that we’ll need another $ 5,000 to cover the remaining cost of a new floor. We wanted a home equity loan, but we were surprised that our lender will charge us more than $ 500 in fees, plus interest, for a loan. Should we go ahead with the loan?

A. If you were going to borrow a significant amount of money, taking out a home equity loan might be a good option. However, when you are borrowing a smaller amount, such as $ 5,000, a home equity loan may not be the best choice. When you take out a home equity loan, your home is your security. Your lender will want to conduct an appraisal to find out the value of your home. You’ll also pay other fees when you take out a home equity loan, such as origination fees and credit report fees.

There are other options if you can pay off the $ 5,000 in 12 months or le…………… continues on Rapid City Journal
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Consumers’ credit card debt rises again on higher spending
News from Debtmerica Relief:

Recent data shows that consumers are once again spending more money on their credit cards, leading to higher debt levels, the likes of which haven’t been seen since the recession ended.

The latest 2011 Credit Card Debt Study from the consumer comparison site CardHub.com revealed that consumers added $ 18.4 billion in credit card debt during the second quarter, up 66 percent from the same period in the previous year, and 368 percent more than 2009’s second quarter, according to a report from Daily Finance. Americans are expected to end the year with $ 54 billion more owed on their credit cards than they starte…………… continues on Debtmerica Relief
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Debunking Credit Card Myths

Posted by administrator | 17/09/11 | Tagged Credit Card

Debunking Credit Card Myths
News from abc27:

As you pull them out of your mailbox, credit-card offers can seem so enticing; zero percent introductory interest rates, attractive cash-back options, and no annual fees. It may seem like the ideal time to get a new credit card. But Consumer Reports says be aware that your credit score can be hurt temporarily when you apply for new cards.

Each time you apply for a card your credit score can take a hit, and you might not want to risk that if you’re applying for a mortgage or other significant loan in the near future.

But if you already have a lot of cards, don’t worry. Contrary to popular belief, having several cards may actually help your credit score if you use them wisely.

The more credit you have available, the better it is for your credit score. But you still have to keep your spending well under your card limits and keep making your payments on time.

Another common misconception is that you should hold on to your oldest credit card no matter what. Ho…………… continues on abc27
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