Margate vice mayor reprimanded for using city credit card for personal use
News from Sun-Sentinel:

MARGATE—

Accusations that an elected official used his city Visa card for personal use led commissioners to agree to soon make it a firing offense Wednesday night.

Vice Mayor David McLean, in office since 2004, was accused by a city activist and political blogger of misusing his credit card from April 2008 to July 2011.

McLean said he used the city’s credit card when “a resident wanted to meet somewhere, we’d sit down, have lunch, I’d pay with the city credit card and then pay for it out of my paycheck.”


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He also said he turned in receipts showing he used the card to pay for boarding of his dog for two days at a Broward League of Cities conference in Orlando. Back at home, drinks were ordered and paid on the card when discussing city business with constituents, McLean said.

But McLean, 49, said he didn’t think he was violating any rules and the money was always paid back immediately. He said if he had a personal expense, he turned in the receipts to the city.

City Clerk Lesl…………… continues on Sun-Sentinel

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Small firms say captive to credit card changes
News from Reuters:

1 of 6. Doris McMillon (L), with student Joy Mathis (R), teaches a class at The Graduate School USA in Washington March 7, 2012.

Credit: Reuters/Gary Cameron

WASHINGTON | Thu Mar 8, 2012 1:52pm EST

WASHINGTON (Reuters) – Business credit cards were a big help for Doris McMillon’s communications consulting business, allowing her to buy supplies for workshops and coaching sessions weeks before her clients paid her.

But in 2009, when Chase jacked the interest…………… continues on Reuters

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Ortega Times: Teens and Credit Cards

Posted by administrator | 08/03/12 | Tagged Credit Card Debt

Ortega Times: Teens and Credit Cards
News from my.hsj.org:

Wednesday, March 07, 2012

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I am going to talk about why teens shouldn’t be able to use credit cards. I will be providing a lot of facts about this subject and I have some very powerful reasons why I think they shouldn’t be used by teens. I will be covering responsibility, debt and many more reasons that support my argument.

 

One reason why I think teens shouldn’t have a credit card is because it’s too much responsibility .What I mean by this is that they have to worry about how much they’re spending going and into debt. Teenagers will get too overwhelmed and spend a lot because they know they have that money on the card. Another reason is that teenagers don’t really need to worry about that; they should be focused more on school instead of what they’re going to pay for later for their bill or what they need to buy next. Plus, teenagers these days don’t know about interest; I don’t even know about interests or p…………… continues on my.hsj.org

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Related News:

Consumer credit card balances see 1st drop in 5 months
News from CreditCards.com:

But a spike in student loan debt sends overall debt numbers higher

By Kelly Dilworth

Consumer credit card balances tumbled in January, ending a four-month streak in which card balances steadily rose. But the modest drop in credit card debt was overwhelmed by a surge in student loan debt. 

CONSUMER CREDIT CARD DEBT DIPS IN JANUARY
Americans’ credit card debt fell by about $ 3 billion in January 2012 — the first decrease in five months. That decline helped credit card debt stay well below its record highs set a few years ago. The graph below shows Americans’ credit card debt totals from their peak of $ 972.2 billion in September 2008 through January 2012, when it fell to $ 801 billion.


The Federal Reserve’s G.19 consumer credit report released Wednesday showed a 4.4 percent drop in revolving debt, after risin…………… continues on CreditCards.com

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