City worker arrested for use of city credit card

Posted by administrator | 25/08/12 | Tagged Credit Card

City worker arrested for use of city credit card
News from Las Cruces Sun-News:

Rene Garcia

LAS CRUCES — Police have arrested a city employee suspected of using his city-issued credit card to buy merchandise from a pool supply store for his personal use.

Rene Garcia, 36, of the 300 block of Las Parcelas Loop in Mesquite, N.M., was charged with one count of soliciting or receiving an illegal kickback, and one count of conspiracy to commit such a crime. Garcia was arrested Aug. 16 and booked into the Doña Ana County Detention Center with bond set at $ 10,000.

Detectives learned that Garcia, an employee with the city of Las Cruces for nine years and a certified swimming pool operator since August 2010, reportedly used a city-issue credit card to purchases merchandise for personal use from Discount Pools and Spas at 111 S. Roadrunner Parkway.

Detectives learned that in late May 2012 Garcia used his city-issue credit card to buy a $ 1,000 barbecue grill for his own use and that Discount Pools allegedly rang up the sale as “miscellaneous pool supplies/chemicals.” Detectives subsequently initiated a search wa…………… continues on Las Cruces Sun-News

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City school credit, procurement cards show culture of spending
News from Baltimore Sun:

August 25, 2012|By Erica L. Green, The Baltimore Sun | By Erica L. Green, The Baltimore Sun

Despite tightening school budgets and a perpetual rallying cry for more funding, Baltimore school administrators spent roughly $ 500,000 during the past year and a half on expenses such as a $ 7,300 office retreat at a downtown hotel, $ 300-per-night stays at hotels, and a $ 1,000 dinner at an exclusive members-only club, credit card statements show.

City school officials defend the majority of the credit card expenditures — outlined in statements and receipts obtained by The Baltimore Sun through a Maryland Public Information Act request — as “the cost of doing business,” saying only a handful of “outliers” show questionable judgment or disregard for taxpayer money.

“We are working around the clock to engage our partners and move our agenda forward,” said Tisha Edwards, chief of staff for the school system. “Every transaction has a business purpose in mind.”

Among those transactions were a $ 450-per-person office retreat at the downtown Hilton, during which the 16 employees of the Information Technology Departme…………… continues on Baltimore Sun

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CREDIT CARDS: Debt rising, but delinquencies drop to near-record lows
News from ABA Banking Journal:

CREDIT CARDS: Debt rising, but delinquencies drop to near-record lows

Nonprime borrowers get a bigger slice of a bigger pie

Average credit card debt per borrower increased from $ 4,699 in the second quarter of 2011 to $ 4,971 in the quarter just ended–a rise approaching 6%. So says TransUnion, which notes that the new average is  still relatively low compared to the $ 5,719 average hit in the second quarter of 2009.

By Steve Cocheo, executive editor & digital content mgr.

The second quarter saw the national credit card delinquency rate fall to 0.63%, down ten percentage points from the first quarter, according to TransUnion’s latest figures.
 
TransUnion notes that this is the lowest level…………… continues on ABA Banking Journal

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Credit card lawsuits replay foreclosure mess – Atlanta Journal Constitution
News from Credit card lawsuits replay foreclosure mess – Atlanta Journal Constitution:

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The Atlanta Journal-Constitution

Credit card firms and collection companies are churning out slapdash lawsuits to collect unpaid sums, say exasperated consumer advocates and some judges.

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Area policies on fire dept. credit card use vary

Posted by administrator | 24/08/12 | Tagged Credit Card

Area policies on fire dept. credit card use vary
News from Marietta Times:

Local fire departments are each responsible for determining a way to monitor their department’s credit card usage. But monitoring these cards can sometimes be a challenge.

Recently, allegations arose that former Dunham Township Volunteer Fire Department Chief Dustin Maze had used the department’s credit card for personal purposes. That investigation continues.

Local departments each have their own policies on using credit.

“We have a credit card for each individual. We have 34 credit cards,” said Marietta Fire Chief C.W. Durham.

Though it might seem like tracking 34 cards would be difficult, Durham insists that it actually is an important safeguard against fraud.

“Everyone is accountable for their own card,” he said.

In addition to personal accountability, the Marietta Fire Department takes several additional precautions with their cards.

The cards can only be used to purchase fuel for the department’s vehicles and only at the gas station with which they are currently contracted.

Filling up a Marietta Fire Department vehicle Thursday, Marietta Fire Lt. Rodney Scott demonstrated an additional safeguard.

“It asks me to punch in the odometer reading,” said Scott after swiping the department’s credit card.

Marietta Fire Department’s cards are programmed to ask for an odometer reading. The…………… continues on Marietta Times

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Noida, Uttar Pradesh, India (Deal4loans.com (Business Wire India))
News from Moneylife:

Using plastic money has become a palpable choice these days, not only because Credit/Debit cards offer convenience and safer than carrying cash but for an added advantage that they often give us additional savings, discounts or cash backs on our spends. And in the current scenario most customers have multiple credit and debit cards however they are lacking the information about the prevailing usage offers on the card they are holding.

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And if we are not smart about the way we use our cards, especially credit cards then they can certainly burn a hole in the pocket. Swiping the appropriate card each time is the key to get the most of the benefit from the credit and debit cards. But another fact is, it not possible every time to spend time in front of the computer before stepping out to make a credit card purchase.

To help customers save and use their multiple cards to get most out of offers Deal4loans.com has launched an android app where customers can check the offers on the go; Deal4loans.com has the knack in getting the grip of…………… continues on Moneylife

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Tips For College Students on Credit Card Use

Posted by administrator | 23/08/12 | Tagged Credit Card

Tips For College Students on Credit Card Use
News from WLTX.com:

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This Could Be The End Of Reward Credit Cards
News from Business Insider:

Flickr / Kossy@FINEDAYS

Do you know what interchange fees (they’re also called “swipe fees”) are? Not many people do.

But they’re the cut of the value of every transaction that’s taken by the processor (American Express, Discover, MasterCard or Visa) every time you use your debit or credit card. And most of what’s charged, typically 2 percent or so, for a credit card swipe is passed on to your card issuer.

For many credit card users, interchange fees are a large part of what makes their financial world go round. Think about it. If you’re one of those lucky (or responsible) people who don’t pay either an annual fee or interest, you’re getting an awful lot of servi…………… continues on Business Insider

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What Happens to Credit Card Debt When You Die?

Posted by administrator | 23/08/12 | Tagged Credit Card Debt

What Happens to Credit Card Debt When You Die?
News from CNBC.com:

Adam Gault  | Getty Images


After the death of a family member, many spouses, ex-spouses and even adult children find themselves with a surprise “inheritance” — leftover credit card debt.

When someone dies, the estate pays credit-card balances and other debts. If a person dies with more debts than assets to pay them, creditors can be out of luck — and they often are.

But there are exceptions that could leave the survivors on the hook for someone else’s credit-card balance after that person’s death.

Joint cardholders beware

If you’re a joint cardholder, meaning you co-signed for the credit card, you’re liable for the debt. Parents sometimes do this for children who are just starting out, or adult children will co-sign with their elderly parents, perhaps to help keep track of expenses.

If you’re only an authorized user, you’re not liable when the cardholder dies. If you co-signed as a joint cardhol…………… continues on CNBC.com

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Problems at work and credit card debt
News from gulfnews.com:

A reader from Dubai asks: My company has signed my labour contract but didn’t give me a copy so I don’t know whether my contract is limited or unlimited. Is this legal or not? There are a lot of accommodation and other problems. According to my appointment letter, they offer an HRA but are refusing to give it due to the global recession.

So can I resign on these grounds? What will my position be if my resignation is against the labour law. I work in the private sector. The company has signed a letter saying that if I leave my job before the end of my contract, I have to pay

I have completed eight months in this company. If I resign for the reason that I’m not getting my rights as per the labour law, what action can the company take? Note: I hold a diploma.

Answer: The questioner may obtain a copy of the employment contract upon reviewing the ministry as well as the typing offices which deal with the Ministry of Labour. Failure…………… continues on gulfnews.com

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DEBT FREE FOREVER: Payoff All Your Credit Cards Without Increasing Your Income Or Getting A Second Job (How To Raise Your Credit Scores 25-100 Points In 48 Hours, Guaranteed)

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Eram Saeed, author of Amazon Best Seller “How To Raise Your Credit Scores 25-100 Points in 48 Hours, Guaranteed”, brings another guide for her readers to help payoff debt while doing effective credit repair at the same time.

These strategies are simple and designed in a manner that anyone can put them to use to become debt free forever! What’s even better is that most of these tips invo

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Tips for college students on credit card use

Posted by administrator | 22/08/12 | Tagged Credit Card

Tips for college students on credit card use
News from USA TODAY:

College students juggle plenty: part-time jobs, research projects, dating, keeping up with the family at home.

  • Damian Dovarganes, AP

So I’d like to go out on a limb and say most college students are more focused on their GPAs than on their credit scores. And it’s way too easy to make some really dumb moves on campus that can ding your credit score. Lower scores mean higher costs when taking on adult-size purchases, such as car loans and mortgages, down the road.

Since 2010, credit card companies can no longer offer T-shirts, coupons for free pizza, coffee mugs or other gifts on campus to college students who agree to fill out a credit card application. They can still market cards on campus — just no freebies.

  • COLUMN:

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Credit card issuers use social media to target students
News from Boston Globe:

WEST PALM BEACH, Fla. — Just a few years ago, credit card companies set up tables at college campuses and offered students freebies such as T-shirts, candy, and Frisbees if they signed up for a card on the spot.

The Credit Card Accountability Responsibility and Disclosure Act of 2009, which took effect in February 2010, changed that scene. Now the companies are prohibited from soliciting within 1,000 feet of a college campus.

But students and parents can’t let their guard down. The companies are still hoping the young people will become credit card users. Now they’re more likely to attempt to snag them through social media such as Facebook, said Odysseas Papadimitriou, chief executive of credit card comparison website CardHub.com.

The timing couldn’t have been better for the financial institutions that issue credit cards, including banks. Social media already had a 90 percent reach on the 18- to 29-year-old demographic.

“They are on a virtual campus now,’’ he said. ‘‘The risk has not gone away.

“Young people represent a very important demographic for banks, as they are potential lifelong customers, a large percentage of whom are on track to earn college degrees. It’s therefore no surprise that we’re seeing banks use the online games and websites that young people use almost religiously in order to connect with them. It gives banks an…………… continues on Boston Globe

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Which cards are better to use, credit or debit?

Posted by administrator | 22/08/12 | Tagged Credit Card

Which cards are better to use, credit or debit?
News from MyFox Washington DC:

By Andrew Housser

Everyone seems to be using plastic these days to pay for purchases. Using a credit or debit card is certainly easier than carrying a wad of cash, but both carry some risks. When you swipe a card at a checkout card-reading machine, you will be asked to choose between credit and debit. Before you hit “enter” for either option, weigh the pros and cons of each.

What’s the difference?

The main difference between credit and debit cards is where funds come from. Debit cards draw money directly from your bank account. Credit cards offer a line of credit from which you can borrow money to make a purchase or even take out extra cash. Choosing the “credit” option when paying with a debit card does not affect the payment source. The purchase amount is still deducted from your bank; the action simply saves you the step of having to enter your personal identification number (PIN). It also prevents others in line from possibly seeing your PIN.

Are you good at budgeting?

When you choose to pay with a debit card, you might be less tempted to spend more than you can afford, since the money you spend will be automatically deducted from your bank account. If your purchase exceeds the funds in your account, your account will be overdrawn. Many banks offer overdraft…………… continues on MyFox Washington DC

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3 On Your Side: College Students & Credit Cards
News from CBS Local:

By Jim Donovan

PHILADELPHIA (CBS) – It’s the time of year when hundreds of thousands of college students head back to school and we all know what that means, they’ll need spending money.

For years, many students would just apply for a credit card and charge up a storm.

But as 3-On Your Side Consumer Reporter Jim Donovan reminds us, banking reforms have made it more difficult for college students to get a credit card, but not impossible. So that’s why it’s important to have a talk with your child before they rack up lots of debt.

When the Federal Credit Card Act went into effect in 2010 it made it much harder for college students under the age of 21 to get a credit card. But there are students who can still get one.

“Someone who is working part time or full time and can show they can handle the payment on the credit card. The other is that if they have a co-singer, a parent or guardian, will co-sign, someone that has good credit,” says Stephanie Bittner of Clarifi, a local non-profit credit counseling agency.

Bittner believes most co-signers aren’t really thinking of the possible consequences.

“You’re going to be responsible for that debt or, in addition, it’s going to have a negative impact on your credit score if that account gets late or is not being paid at all,” she says.

An estimated 75% of…………… continues on CBS Local

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After Death, Who Inherits Credit Card Debt?

Posted by administrator | 21/08/12 | Tagged Credit Card Debt

After Death, Who Inherits Credit Card Debt?
News from Fox Business:

After the death of a family member, many spouses, ex-spouses and even adult children find themselves with a surprise “inheritance” — leftover credit card debt.

When someone dies, the estate pays credit card balances and other debts. If a person dies with more debts than assets to pay them, creditors can be out of luck — and they often are.

But there are exceptions that could leave you on the hook for someone else’s credit card balance after that person’s death.

Joint Cardholders Beware

If you’re a joint cardholder, meaning you co-signed for the credit card, you’re liable for the debt. Parents sometimes do this for children who are just starting out, or adult children will co-sign with their elderly parents, perhaps to help keep track of expenses.

If you’re only an authorized user, you’re not liable when the cardholder dies. If you co-signed as a joint cardholder, then you just got a new credit card debt.

“Sometimes, people can be on a credit card and not even know it,” says Pennsylvania attorney Linda A. Kerns. “Maybe when they filled out the credit card applications, (the joint cardholder) didn’t even tell them.” These accounts could show up years later, at the tim…………… continues on Fox Business

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Biz Brain: Waiting won’t help to address hefty credit card debt
News from The Star-Ledger – NJ.com:

Q. My son has not paid his credit cards in about four years and he hasn’t contacted the creditors. He owes about $ 20,000. He doesn’t have savings or a checking account, he lost his job and is financially below poverty. He finally started working and does not make much. He has other debts he must pay. If he waits seven years, will the debts be off his credit record? If he applies for a new credit card in the future, will they know about his history?
– Broke in New Jersey
A. Your son is facing quite a few credit issues, and hiding his head in the sand really isn’t the answer.
An important issue is whether the credit card companies have been contacting your son, said Ilissa Churgin Hook, a bankruptcy attorney with Hook & Fatovich in Wayne.
“The credit card companies can commence lawsuits against your son for breach of contract based on his failure to pay the outstanding debt,” she said. “The statute of limitations for breach of contract is six years in New Jersey.”
Hook said the credit card agreement(s) may contain a provision that any litigation between the parties is governed by the laws of another state. Assuming that New Jersey law applies, your son can still be sued by the credit card companies for breach of contract as he has not made payments in four years, Hook said.
If the credit card companies sue and obtain judgments, they woul…………… continues on The Star-Ledger – NJ.com

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Retailer Surcharges Would Dampen Credit Card Use

Posted by administrator | 21/08/12 | Tagged Credit Card

Retailer Surcharges Would Dampen Credit Card Use
News from CSNews Online:

AUSTIN, Texas — A proposed swipe fee settlement would give retailers the green light to charge consumers a surcharge for using a credit card, but a new poll suggests that consumers will not graciously accept the extra charge.

According to a new poll by CreditCards.com, nearly two in three Americans — 65 percent — said they would stop using their credit cards if retailers start adding extra fees to credit card purchases — regardless of how small that fee may be.

The extra surcharge has been prohibited by Visa Inc. and MasterCard. However, a deal now on the table to settle a 2005 class-action lawsuit would allow retailers to implement a surcharge, possibly in early 2013, to help recoup the swipe fees (also known as interchange fees) they have to pay every time a customer pays with a credit card, according to CreditCards.com.

As CSNews Online reported two weeks ago, the plaintiffs in the class-action suit have until Oct. 19 to accept the proposed settlement. According to the terms o…………… continues on CSNews Online

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28 Credit Card Offers To Eye
News from Business Insider:

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Would you pay to use your credit card?

Posted by administrator | 20/08/12 | Tagged Credit Card

Would you pay to use your credit card?
News from The Durango Herald:

Processing fees for debit- and credit-card transactions have long been a bane for merchants. But businesses know it�s an unavoidable cost to keep customers coming back.

�If you don�t (accept cards), you�re pretty much dead in the water, said Jeff Bardin, owner of Top That Frozen Yogurt, a shop on Main Avenue.

After a seven-year legal battle, a settlement last month attempted to provide some remedy for merchants nationwide suffocating under swipe fees, or interchange fees.

The $ 7.25 billion settlement came after plaintiffs sued Visa and Mastercard, accusing the companies of fixing swipe fees arbitrarily high. Under the settlement, Visa and Mastercard agreed to temporarily reduce swipe fees and allow merchants to surcharge customers an amount equal to those fees.

But in the wake of the settlement, several large retailers have come out against the settlement and local businesses said they would be hesitant to take advantage of a new ability to pass credit-card transaction fees on to the customer.

�The burden of cost goes back to customers. Right now, it�s part of the cost of doing business,� said Ivan Unkovsk…………… continues on The Durango Herald

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My secret credit card shame: I haven’t told anyone because they think I’m good …
News from Mirror.co.uk:

Even though I know I’m starting to get into trouble, I can’t stop spending

Getty

Dear Coleen,

For years I never owned a credit card, believing you shouldn’t spend money that you don’t have.

But then I had to get one recently because I was going abroad and it made things a lot simpler when it came to paying for things.

Since then I’ve found myself using it more and more, so much so that I’m almost at my limit.

Even though I know I’m starting to get into trouble, I can’t stop spending.

When I see something I want, I just have to buy it.

I haven’t told my partner or my friends because I know they’d be really shocked, everyone thinks I’m so good with money.

So I’ve taken to hiding my purchases and passing them off as old things, or bargains from eBay.

Now my partner wants us to go on holiday, but I can’t afford to.

I feel ashamed and don’t know how to tell him I won’t be able to go away with him.

I feel bad as he’s been working hard recently, we haven’t seen much of each other and he deserves a break.

Coleen says..

Well, that’s the reason I’ve never had a credit card – I’d use it l…………… continues on Mirror.co.uk

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