Accelerated Debt Management Offers Tips For Consumers With Good Credit …
News from Midland Daily News:

Make Sure Proper Steps Are Taken Prior To Enrolling In A Debt Management Program.

(PRWEB) October 30, 2012

Many consumers that are overloaded with high interest credit card debt are current on their accounts and still have good credit scores. Although their scores are still relatively good, the fact that they are carrying balances over 30% of their credit limit keeps their scores from rising to where they would be considered “low risk” or “excellent credit”. When these accounts have high interest rates it is very difficult to bring down the balances in any reasonable period of time. Enrolling in a properly administered debt management program can drastically reduce the time it takes to pay these balances down but choosing the right firm is crucial, and choosing the wrong firm can drop their scores even further.

In a “specialized” debt management program that caters to consumers with good credit, steps have to be taken to ensure that further credit damage does not occur as a result of the prog…………… continues on Midland Daily News

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Visa, MasterCard Look For Bounce Off Decade-Low Debt
News from Investor’s Business Daily:

Credit card debt is poised to rebound off its 10-year low, giving card firms like Visa (V) and MasterCard (MA) a boost, but consumers may not return quickly to their previous debt-fueled buying habits.

Historic borrowing and spending patterns should return eventually, but stagnant incomes are holding them back, said Greg McBride, senior financial analyst for Bankrate.com.

“It’s not like the American consumer has gotten religion about paying down debt and saving,” he said.

 

… Read the full article


Facebook may cause bad credit and obesity among frequent users
News from Deseret News:

Large amounts of Facebook use may be related to high credit card debt and weight gain.

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Large amounts of Facebook use may be related to high credit card debt and weight gain, according to CreditCards.com, citing a

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Ways To Minimize Risk of Credit Card Fraud
News from WLTX.com:

    • Facebook
    • Google buzz
    • Del.icio.us

… Read the full article


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Indonesia Becoming a Credit Card-Friendly Place

Posted by administrator | 29/10/12 | Tagged Credit Card

Indonesia Becoming a Credit Card-Friendly Place
News from Jakarta Globe:

Indonesia Becoming a Credit Card-Friendly Place
ID/Grace Dwitiya Amianti& Alex Dungkal | October 29, 2012

Indonesia’s credit card holders booked an 11 percent increase in transaction value in the January-August period from the same period a year ago, thanks to rising income and a change in mind-set about the cards’ utility, an executive at a credit-industry association said last week.

Steve Martha, the secretary general at Indonesian Credit Card Association (AKKI), said the outstanding value of credit card transactions in August was Rp 133.21 trillion ($ 14 billion). That compared to Rp 119.6 trillion in the same period in 2011.

He said there were 15 million registered credit cards in Indonesia at the end of August, rising from 14.16 million a year earlier.

“This number is likely to continue rising, in line with consumers’ increasing awareness of the utility of credit cards,” Steve told Investor Daily on Thursday.

A strong rise in the numbers of credit cards has been noticeable over the past two years. At the end of 2009, there were only 12 million credit cards in circulation, a number that jumped to 13.6 million and 14.6 million at the end of 2010 and 2011, respectively.

He added that Indonesian consumers do not perceive credit cards as…………… continues on Jakarta Globe

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Wife admits role in $ 1m credit card scam
News from Sydney Morning Herald:

The wife of a pigeon breeder has today admitted her role in a sophisticated credit card scam her husband had set up involving nearly $ 1 million.

Lisa Catania, 41, of the Gold Coast, pleaded guilty in the County Court to one count of conspiracy to defraud.

The maximum penalty is 15 years’ jail.

Prosecutor Kevin Doyle told the court Catania’s husband, David, had conspired to defraud financial institutions in Queensland and Victoria by operating a scheme between December 2006 and April 2008 involving the use of stolen identities to fraudulently obtain credit cards.

The credit cards were used to withdraw cash and obtain goods and services throughout Victoria, New South Wales and Queensland totalling $ 864,390.

Mr Doyle said David Catania had co-ordinated and organised the fraud and his wife participated in the use of the credit cards for her benefit.

The prosecutor said the couple had used a fraudulently obtained American Express credit card on one trip in March 2007 to a pigeon show in Victoria.

The couple and their four children drove in a Toyota Land Cruiser from Queensland through central NSW to Victoria to attend the pigeon show.

The family spent $ 1882.10 buying clothing, goods, and to pay for petrol.

In August 2007, the family took a Virgin Blue flight from Coolangatta to Melbourne for a seven-day holiday…………… continues on Sydney Morning Herald

… Read the full article


Hidden credit card debt led to mum tragedy

Posted by administrator | 28/10/12 | Tagged Credit Card Debt

Hidden credit card debt led to mum tragedy
News from This is Staffordshire:

A MOTHER killed herself on the day she thought bailiffs were coming to repossess her home, an inquest heard.

Tina Bennett, aged 40, was found by her son Anthony, and husband Michael, at the family home in Kidbrooke Place, Blurton, on May 11 this year.

She had hanged herself using the cord from two dressing gowns, tied together.

Yesterday an inquest heard that Mrs Bennett, a vending machine operator, had no history of depression or mental illness, nor was there any sign that she was feeling suicidal.

However, letters that were only discovered after her death, showed Mrs Bennett had a hidden credit card debt of £8,500 in her husband’s name.

And among a package of letters only one had been opened, which was threatening to repossess Mrs Bennett’s home, at 4pm on the day she died.

Mr Bennett told the inquest: “I had been speaking to her throughout the day.

“My last contact with her was about 3.25pm, nothing was said that was out of the ordinary. When I got home the front and back door were locked.

“I got no answer at the door. I assumed she was asleep.

“I called Anthony we got a ladder. We couldn’t see her, but the keys were on the table. I was really worried at this point.

“We broke the window, Anthony was in front of me. He saw his mum.

“She was at the top of the stairs. I couldn’t leave her ther…………… continues on This is Staffordshire

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Consumer Reports rated the best credit cards for people with big debt
News from kjrh.com:

The economy may still be wavering, but not the banks.

They’re still sending consumers plenty of credit card offers with enticing rewards, cash-back offers, and low interest rates.

Consumer Reports just analyzed more than 50 cards, including ones that are good for those struggling to pay off their credit-card debt.

For those people, Consumer Reports recommends transferring the balances to a card with a lower APR. You can often find cards with very low interest rates, even down to zero, for balance transfers. But Consumer Reports cautions that you look carefully at the terms because they can vary a lot from card to card.

You’re often charged a balance transfer fee, usually 3 to 4 percent upfront. And the zero percent or low APR often lasts only 12 to 18 months.

Consumer Reports found the Chase Slate card is good for people who can pay off the balance quickly. It has zero interest for 15 months and no transfer fees in the first 60 days.

But if you calculate that you won’t be able to pay off your debt that quickly, you’re better off with a card with a low, fixed interest rate.

Consumer Reports found one of the best such credit cards is the PenFed Promise.

It currently has a low APR of 4.99 percent on transfers made before the end of the year and has no balance transfer fee. Be aware that you need to be a member of the Pe…………… continues on kjrh.com

… Read the full article


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Credit Card Limits Increase, While Balances Drop in Many Major Cities
News from Fox Business:

A pair of studies from a leading credit reporting agency shows that credit card use continues to stabilize, especially in parts of the country hit hardest by the recession. Equifax’s recent National Consumer Credit Trends Report measured increases in auto loans, student loans, and new credit cards. Meanwhile, a study of regional credit card debt shows that overall balances keep shrinking in cities where consumers bore the brunt of unemployment and declining home prices.

For the first time since April 2010, the number of open American credit card accounts topped 300 million. While credit limits on those cards have risen above $ 1.87 trillion, consumers are only using about 22% of their available credit, Equifax researchers told reporters. Over $ 87 billion of that available credit originated this year, as banks grow more confident about their underwriting as consumers use credit cards more responsibly than in previous years.

Researchers see evidence of the trend in Los Angeles, San Francisco, Detroit, Atlanta, Miami, and Phoenix. All six of those cities saw their residents’

… Read the full article
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Jeffrey Hawkins, Homeless Man, Allegedly Lived In Hotels For 20 Years Using …
News from Huffington Post:

Jeffrey Hawkins said he was “sick of running” after allegedly spending 20 years living off stolen credit cards.

After 20 years, Jeffrey Hawkins reportedly told police he was “sick of running.”

The 49-year-old

… Read the full article


Mizzou cracks down on credit card use

Posted by administrator | 25/10/12 | Tagged Credit Card

Mizzou cracks down on credit card use
News from Springfield News-Leader:

COLUMBIA, Mo. (AP) — The Missouri athletics department is tightening employee use of school-issued credit cards after an audit found a series of improper purchases, including bills for more than $ 7,600 from a Las Vegas strip club.

Department spokesman Chad Moller said Tuesday that director of video operations Michael Schumacher had repaid $ 7,605.50 for two credit charges from a May 5, 2011, visit to Olympic Garden. One of the charges included a $ 2,000 tip on a $ 4,400 bill at a nightclub billed as the “only Vegas strip club on the Strip.”

Schumacher was representing Mizzou at a professional conference but traveled alone, Moller said. He said “responsive and appropriate disciplinary action was taken,” but that he was unable to elaborate on a personnel matter. Schumacher did not respond to several messages left at his home and campus office.

The Aug. 14 Pricewaterhouse Coopers audit — part of a routine and periodic review of university business functions — also flagged nearly $ 3,000 in charges by former men’s basketball director of operations Jeff Daniels, who now works at Arkansas under former Tigers coach Mike Anderson.

Daniels billed the school for two charges of $ 1,489.54 each at the Vince Young Steakhouse in Austin, Texas, in January 2011; there is a $ 2,500 transaction limit. Those charges were for a team meal, both he and Moll…………… continues on Springfield News-Leader

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Want to avoid the next big data breach? Expert says use cash
News from Chicago Sun-Times:

This Barnes & Noble store at 1130 N. State and seven others had their security breached by hackers. Wednesday. October 24, 2012 | Brian Jackson~Sun-Times

storyidforme: 38980211
tmspicid: 14362387
fileheaderid: 6567264

Updated: October 25, 2012 8:47AM

Customers jarred by news that credit and debit card devices at seven Chicago-area Barnes & Noble stores and 63 nationwide have been tampered with have at least one option for defending themselves, an expert said.

“The simple answer is pay cash,” said Jacob Furst, a professor at DePaul University specializing in information security.

Barnes & Noble has warned its customers to check for unauthorized transactions and to change their personal identification numbers, or PINs. It didn’t say how many accounts may have been compromised, but it said only one of the “PIN pad” devices was tampered with in each of the compromised locations.

Those locations include the Chicago stores at 1130 N. State and 1441 W. Webster, and the su…………… continues on Chicago Sun-Times

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MU cracks down on credit card use; strip club charges cited

Posted by administrator | 24/10/12 | Tagged Credit Card

MU cracks down on credit card use; strip club charges cited
News from STLtoday.com:

COLUMBIA, Mo. — The Missouri athletics department is tightening employee use of school-issued credit cards after an audit found a series of improper purchases, including bills for more than $ 7,600 from a Las Vegas strip club.

Department spokesman Chad Moller said Tuesday that director of video operations Michael Schumacher had repaid $ 7,605.50 for two credit charges from a May 5, 2011, visit to Olympic Garden. One of the charges included a $ 2,000 tip on a $ 4,400 bill at a nightclub billed as the “only Vegas strip club on the Strip.”

Schumacher was representing Mizzou at a professional conference but traveled alone, Moller said. He said “responsive and appropriate disciplinary action was taken,” but that he was unable to elaborate on a personnel matter. Schumacher did not respond to several messages left at his home and campus office.

The Aug. 14 Pricewaterhouse Coopers audit — part of a routine and periodic review of university business functions — also flagged nearly $ 3,000 in charges by former men’s basketball director of operations Jeff Daniels, who now works at Arkansas under former Tigers coach Mike Anderson.

Daniels billed the school for two charges of $ 1,489.54 each at the Vince Young Steakhouse in Austin, Texas, in January 2011; there is a $ 2,500 transaction limit. Those charges were for a team meal, both he and Moller said. Moller e…………… continues on STLtoday.com

… Read the full article
.

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Credit Card Limits Increase, While Balances Drop In Many Major Cities
News from TheStreet.com:

A pair of studies from a leading credit reporting agency shows that credit card use continues to stabilize, especially in parts of the country hit hardest by the recession. Equifax’s recent National Consumer Credit Trends Report measured increases in auto loans, student loans, and new credit cards. Meanwhile, a study of regional credit card debt shows that overall balances keep shrinking in cities where consumers bore the brunt of unemployment and declining home prices.

For the first time since April 2010, the number of open American credit card accounts topped 300 million. While credit limits on those cards have risen above $ 1.87 trillion, consumers are only using about 22 percent of their available credit, Equifax researchers told reporters. Over $ 87 billion of that available credit originated this year, as banks grow more confident about their underwriting as consumers use credit cards more responsibly than in previous years.

Researchers see evidence of the trend in Los Angeles, San Francisco, Detroit, Atlanta, Miami, and Phoenix. All six of those cities saw their residents’

… Read the full article


Mizzou tightens credit card use

Posted by administrator | 24/10/12 | Tagged Credit Card

Mizzou tightens credit card use
News from ESPN:

Updated: October 23, 2012, 4:48 PM ET

Associated Press

COLUMBIA, Mo. — The Missouri athletics department is tightening employee use of school-issued credit cards after an audit found a series of improper purchases, including bills for more than $ 7,600 from a Las Vegas strip club.

Department spokesman Chad Moller said Tuesday that director of video operations Michael Schumacher had repaid $ 7,605.50 for two credit charges from a May 5, 2011, visit to Olympic Garden. One of the charges included a $ 2,000 tip on a $ 4,400 bill at a nightclub billed as the “only Vegas strip club on the Strip.”

Schumacher was representing Mizzou at a professional conference but traveled alone, Moller said. He said “responsive and appropriate disciplinary action was taken,” but that he was unable to elaborate on a personnel matter. Schumacher did not respond to several messages left at his home and campus office.

The Aug. 14 Pricewaterhouse Coopers audit — part of a routine and periodic review of university business functions — also flagged nearly $ 3,000 in charges by former men’s basketball director of operations Jeff Daniels, who now works at Arkansas under former Tigers coach Mike Anderson.

Daniels billed the school for two charges of $ 1,489.54 each at the Vince Young Steak…………… continues on ESPN

… Read the full article
.

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Credit Card Data Breach at Barnes & Noble Stores
News from New York Times:

WASHINGTON — Hackers have stolen credit card information for customers who shopped as recently as last month at 63 Barnes & Noble stores across the country, including stores in New York City, San Diego, Miami and Chicago, according to people briefed on the investigation.

The company discovered around Sept. 14 that the information had been stolen but kept the matter quiet at the Justice Department’s request so the F.B.I. could determine who was behind the attacks, according to these people.

The information was stolen by hackers who broke into the keypads in front of registers where customers swipe their credit cards and enter their personal identification numbers, or PINs.

In response to questions about the attack, the company acknowledged the security breach, saying that as a precaution customers who used their cards at any of…………… continues on New York Times

… Read the full article


Target Has Finally Unloaded Its Credit Card Debt

Posted by administrator | 23/10/12 | Tagged Credit Card Debt

Target Has Finally Unloaded Its Credit Card Debt
News from Business Insider:

Target finally sold its credit card debt after more than two years of searching. 

TD Bank bought the debt for about $ 5.9 billion, Kevin Orland at Bloomberg reported. 

Orland reports: 

“The portfolio will be sold for an amount equal to the gross value of the outstanding receivables at the time of closing, Minneapolis-based Target said today in a statement. TD also agreed to a seven-year deal to underwrite, fund and own the retailer’s future credit card and Visa receivables in the U.S., the companies said.”

Target first put the debt on the market in January 2011, but

… Read the full article
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Woman pays off $ 120000 credit card debt in 5 years
News from Deseret News:

LAWRENCE, Kan. — Francine Bostick, a custodial manager for Kansas University, spent down $ 120,000 in credit card bills in five years, according to Money Talks News.

Since Bostick’s mother paid for everything outright, she was never taught about how to use credit.

It took a year for Bostick to admit she had a problem, but after enrolling in credit counseling, she fully committed herself to eliminating her debt.

Bostick and her husband, Jim, cut down on unneeded expenses and picked up second jobs. As a result, they were able to pay monthly payments of $ 2,496 toward their debt.

Since they were both working so hard, they were too tired to go out of the house, which prevented further debt.

“During those five years, I got used to buying just what we needed,” Francine told Money Talks News, “If something costs over $ 50, we’d go home and think about it for a few days. Lots of times, we never went back for it.”

Now that her debt is clear Bostick has set to building credit, but is a little worried she’ll start charging irresponsibly again.

“I’ve been using it like a debit card,” Bostick told Money Talks News. “Every time I…………… continues on Deseret News

… Read the full article


Dynamics launches its ePlate battery-powered credit card to create ‘payment apps’
News from VentureBeat:

Dynamics is hoping to turn the credit card and payment industries upside down with an innovative new kind of smart card and payment system. The ePlate system is a way for developers to get direct data on customer purchases and extra revenues from each transaction via “payment apps.” With ePlate, Dynamics hopes to change the way people pay for goods and services by motivating them to earn some very specific rewards from their favorite book authors or other goods providers. And, in a twist that could motivate a lot of partners to join the rewards program, the book author or the goods providers get a cut of every transaction made with the credit card.

That completely changes the way the card operates and the benefit that the consumer receives from using it. Dynamics’ system includes the ePlate payment device, which is a battery-powered Visa credit card that allows a consumer to change the app that is running on the card. You can apply for a card today on Dynamics’ site, and you can change the reward you earn with every purchase.

… Read the full article
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Would You Use Your Smartphone Like a Credit Card? This Company Hopes So
News from KUT News:

It sounds like the setup to a joke: “AT&T, Verizon, and T-Mobile walk into a bar …”

But it’s no laughing matter. Despite the fact that each company devotes itself almost entirely to beating the other two in the highly-competitive mobile market, the three companies have created a new “mobile payment” venture – Isis – that launched today in Austin.

Mobile payments, also called  “digital wallets,” allow purchasers to buy products and services using a phone-based app at the point of sale, instead of with credit cards, cash, or checks.

Merchants that accept Isis payments are a mix of big-box retailers, fast food restaurants, department stores, and local merchants.

Verizon’s Regional President for Austin, Frank Antonacci, led the kickoff event today at a Verizon Wireless store. He says Isis picked Austin as a pilot city (along with Salt Lake City), because of Austin’s history of adopting new technologies. “Austin has a great history of being open to technology…………… continues on KUT News

… Read the full article


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