Normandy mayor defends his credit card use

Posted by administrator | 13/01/12 | Tagged Credit Card

Normandy mayor defends his credit card use
News from

NORMANDY • Mayor Patrick Green defended himself Thursday night against allegations of inappropriate spending on his city-issued credit card.

Green said the trips — and all the corresponding charges — were strictly for city business.

Since the beginning of 2009, charges on the credit card have totaled more than $ 16,000. The charges included trips to Baltimore and Las Vegas. None of the spending was approved by the City Council.

Two weeks ago, Councilwoman Erma Ratlif asked the council to take away Green’s access to the card and remove his authority to sign city checks. Others council members accused her of acting on a personal agenda.

An investigative committee consisting of four aldermen and three residents was chosen to look into the spending. On Thursday, committee members questioned Green on the amount of some items, the necessity of the trips and his interpretation of the city’s credit card policy.

Green said most of the spending on the card — about $ 10,000 of it — was done for various departments in the city. The rest of the spending was his, he said, but to promote the city.

“I spent $ 6,000 from 2009 to 2011 to move this city forward,” he said to applause from many of the 80 in attendance. “It’s the city’s card — it just has my name on it.”

He said most of his spending was on b…………… continues on

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Make Your Best Deal: What’s Coming In Credit Cards In 2012
News from Hartford Courant:

Topic galleries provide easy access to stories and photos about people, places, organizations, events and subjects of interest to you. They bring together rich multimedia content from across our network of newspaper and TV Web sites. You’ll find thousands of topics, from hot issues to celebrities and from local festivals to global phenomena.

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On Your Side: How to cut down on credit card debt

Posted by administrator | 13/01/12 | Tagged Credit Card Debt

On Your Side: How to cut down on credit card debt
News from

Updated: Thu Jan. 12 2012 2:55:23 PM

MONTREAL — We Canadians love our credit cards, but with the holidays now over, it’s time to pay the piper.

The average Canadian cut 3.4 per cent off their credit card debt in 2011, according to Equifax Canada.

That’s good news for a country that owes about $ 6,000 per person, without taking into account mortgage debt.

With that in mind, here are some true and tried reminders on how to control your debt.

“First of all, pay more than the minimum amount that they are telling you to pay each month,” Stephanie Poulin of Option Consommateurs told CTV Montreal.

“Paying the minimum on your credit card is like taking out a mortgage at high interest and the result… It’s going to take you as long as paying your house!”

Pay as much off as you can each month, Poulin said, and pay a day or two in advance of the due-date. Banks can charge higher interest rates even if you’re only a couple of days late – which can also damage your credit rating.

Secondly, try to avoid doing cash advances.

Using your credit card instead of cash is a sure way to inflate your spending and debt, especially when you add interest on top.

And Poulin reminds us there’s another price to pay for credit card convenience.

“When you use your credit c…………… continues on

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Credit card debt soars in 1 month
News from MSN Money:

This post comes from Christopher Maag at partner site

Is your credit card feeling tired these days? Americans took on a massive amount of new credit card debt and other kinds of loans in November, according to a new report published by the Federal Reserve.

Total revolving debt, which mostly means credit cards, spiked by 8.5% in November. Nonrevolving debt, which includes things like car and student loans, grew even faster, with a 10.7% increase during the month — for a total of $ 20.4 billion. Overall, consumers now carry $ 2.48 trillion in debt, not counting mortgage debt.

“Yes, that’s a big jump,” says continues on MSN Money

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