Police: Illegal Use of a Credit Card; Vomit-Covered Woman Imagines Cops …
News from Patch.com:


Illegal Use of a Credit Card

Tracy A. Morack, 33, of the 8200 block of Pecan Place in Frankfort, was arrested around 7 p.m. at the Tinley Park Police Department, 7850 W. 183rd St., on a warrant for unlawful use of a credit card. 


Laptop Snagged at Chuck E. Cheese’s

A man reported that sometime between 4 p.m. and 6:30 p.m., someone stole his Dell laptop from Chuck E. Cheese’s, 16090 S. Harlem Ave., Tinley Park. The man said the computer was in a backpack that he’d placed on the floor during a 2-year-old’s birthday party. The bag was under the seat of one of the booths at the restaurant, the report said. The theft wasn’t reported right away because the man assumed someone accidentally took the bag home with party gifts.


Vomit-Covered Woman Imagines Cops Pulling Her Over

Officers charged a local woman with drunken driving after they found her sitting in her idle car, which she stopped four houses away from where she lived, the report said.

Marlene J. Meier told officers she was stopped in the 16700 block of Oketo Avenue because that’s where she was pulled over by police, according to the report. But t…………… continues on Patch.com

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How the credit CARD Act does not protect you
News from KAIT:

By Andrew Housser

The Credit CARD (Card Accountability, Responsibility and Disclosure) Act went into effect two years ago. Its purpose was to regulate how credit card lenders can charge and communicate with consumers. The law’s two-year anniversary is a good time to revisit the law and understand the ways consumers can still be vulnerable even with the law in place.

With the CARD Act, credit card issuers must:

1) Provide consistent due dates.

Lenders must allow at least 21 days from when they mail a bill for the payment to be due. Also, a credit card’s due date will be on the same date each month.

2) Apply payments to costliest balance.

Card issuers must apply all payments above the minimum amount due to the balance with the highest interest rate.

3) Require co-signers.

Borrowers under 21 require a co-signer, or proof of sufficient income to repay debt up to their credit limit. As well, card issuers can no longer give gifts in exchange for completing card applications in settings such as college campuses.

4) Consider ability to repay.

Lenders must consider a borrower’s ability to repay debt before approving a card or raising credit limits. This helps consumers stay within healthy debt limits, an…………… continues on KAIT

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No cash, credit or debit card at Home Depot? Use PayPal

Posted by administrator | 29/02/12 | Tagged Credit Card

No cash, credit or debit card at Home Depot? Use PayPal
News from Chicago Sun-Times:

Customers at Chicago-area Home Depots will be able to start paying with PayPal accounts beginning Mar. 7, 2012. | AP Photo~Danny Johnston

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Updated: February 28, 2012 9:07PM

Beginning next week, customers at Chicago-area Home Depot stores will be able to pay for purchases using PayPal, either by punching in their mobile phone number or swiping a special PayPal card.

The PayPal rollout — which comes to Chicago’s 60 Home Depot stores March 7 — is part of the San Jose, Calif.-based online-payments company’s efforts to take advantage of consumers’ growing use of mobile technology to pay for goods at brick-and-mortar retail stores.

Indeed, PayPal plans to make its payment system available at 21 more nationwide retailers by year’s end. PayPal hasn’t yet named those retailers.

Chicago-area residents with existing PayPal accounts or those who set up an account online must go to Pa…………… continues on Chicago Sun-Times

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Banks promoting credit card use for big purchases
News from mydigitalfc.com:

Credit card companies are encouraging existing customers to revolve their credit and promoting card use by reducing interest rates and going in for co-branding of cards.

Last month HSBC reduced the annual interest rate on its credit cards by 600 basis points to 31.2-33.6 per cent. SBI Cards too recently reduced the interest rate on its fixed deposit-linked credit cards to as low as 18-27 per cent per annum, from 37 per cent earlier.

The move by the companies came at a time when the credit card companies were struggling to add numbers. The total outstanding credit cards in the country have remained stagnant at 17.60 million levels since April 2011, compared with the 27 million-levels seen at the peak of the business in 2007-08. Debit cards on the other hand have been seeing growth every passing month with 263 million debit cards outstanding, as of December 2011.

“Unlike the peak of the credit card crisis in 2007-08, when delinquencies were as high as 17 per cent, delinquencies in the credit card business has fallen significantly. The industry average is at about 4 per cent. Users have become more responsible and we encourage them to use their credit cards to make big purchases and revolve their credit payment cycle,” says Kadambi Narahari, CEO, SBI Cards.

Revolving a credit cycle in a card means paying the minimum balance or above it and repaying the rem…………… continues on mydigitalfc.com

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