Holidays Highlight Perks of Credit Card Use [AUDIO]

Posted by administrator | 17/10/12 | Tagged Credit Card

Holidays Highlight Perks of Credit Card Use [AUDIO]
News from New Jersey 101.5 FM Radio:

This could be the worst advice you ever receive, depending on what you do with it.

Jeff J. Mitchell (Getty Images)

According to some consumer and finance experts, the last few months of the year can be the best time to use a credit card for purchases. Many cards offer perks that seem even more advantageous during the holidays.

Offerings vary by card, but some potential benefits include:

  • Extended warranties on your purchases
  • Price protection – a refund if you find a product at a lower price after already purchasing it
  • Support and proof if a product is damaged or never shows up in the mail
  • Cash back and reward points

Michael Kay, president of Financial Focus in Livingston, agreed that credit cards can certainly have their advantages, but overuse is a common mistake by consumers.

“As we approach the holiday season, there is this enthusiasm for giving and spending. What a lot of consumers wind up with in January is a whole lot of regret and bills that they really can’t afford to handle,” Kay said. “It’s too easy to get swept away into the spirit of the holida…………… continues on New Jersey 101.5 FM Radio

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Credit card skimming, crooks go on a buying spree
News from WKYT:

Many of us use credit cards everyday. Criminals have now learned how to charge your cards without them ever leaving your sight. It’s a lesson many consumers are learning the hard way.

Thieves used a device to steal or invade Olivia Flowers credit card information, open new bank accounts and then go on a buying spree.

“The devices now are really small, they can be held in your hand.. and it can be done quite easily,” said Paul Krenn, a US Postal Inspector.

Olivia went shopping for a new car and got her first hints that someone skimmed her credit card.
Thieves destroyed her credit.

“He told me that my credit score was really low. And he told me… he actually gave me the printout,” said Olivia Flower, Card Kimming Victim.

Postal inspectors are warning credit and debit card skimming is on the rise, especially in fast food restaurants…………… continues on WKYT

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Debt Addicts Get Clean: How These Teachers Paid Off $ 48610 in Credit Card Debt
News from DailyFinance:

The Post-it note still clings to the wall in the Van Dyke home in Buchanan, Mich. Written on it is a single, significant figure: $ 48,610.

“We now have zero credit card debt, but we leave that Post-it note up to remind ourselves of where we were,” says David Van Dyke, a teacher and musician with The Van Dyke Revue.

Dawn and David Van Dyke, both teachers, accumulated that mountain of credit card debt during several years of spending beyond their means.

It started when they were newlyweds. The Van Dykes moved to Oregon from Michigan, but because they didn’t find work right away, for several months they relied on credit cards to cover their daily living expenses.

The couple knew that there would be consequences to their spending, but they focused on the present, not the future. “We knew we were spending too much money but we figured that we were young enough to make up for it later,” Van Dyke says.

Postponing “Later”

Their credit card balances continued to increase when the Van Dykes moved back to Michigan where they bought a small home, and then, when their son Jacob was born, they upgraded to a larger home.

By then, relying on plastic was an ingrained habit — a way of life.

“If we…………… continues on DailyFinance

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3 Important Ways (A Little) Debt Can Actually Help Your Finances
News from Investing Answers:

Imagine a country where everyone owns everything outright — cars, houses, fishing boats, flat-screen TVs. There are no mortgages and no credit card balances in this imaginary land.

Does it sound like heaven? Perhaps. But in economists’ terms, it’s hell.

These days, Americans aren’t in debt heaven or hell; it’s more like purgatory because of the changing debt landscape since the dawn of the Great Recession. In August 2012 (the most recent month for which figures are available), Americans’ total borrowing — including car and student loans — jumped 8% to $ 2.73 trillion, according the Federal Reserve’s G.19 report on consumer credit. That’s an all-time high, an increase of 5% above the levels seen before the recession began. Credit card debt, meanwhile, shot up 5.9% to $ 855 billion. But even with that increase, Americans’ credit…………… continues on Investing Answers

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Framed Print of Credit card debt from Science Photo Library
24 x18 Framed Print, Black Satin Frame Off-White Digital Mat. showing Credit card debt. Credit card debt. Scissors cutting a credi…

Money from credit card use repaid to West Monroe-West Ouachita chamber
News from Monroe News Star:

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Paying for Austin metered parking with a credit card could soon come with $ 1 …
News from Austin American-Statesman:

Keep some change in the car.

Using a credit or debit card at a city of Austin parking meter would cost at least a buck under a measure that the Austin City Council will consider Thursday. The change would go into effect Nov. 1.

A dollar buys an hour of time on an Austin meter. But that transaction, if done with a credit or debit card, also costs the city 25 cents, a fee charged by banks to process those charges that was 10 cents until federal law allowed the increase a year ago. The city said those fees increased almost $ 300,000 on total parking meter revenue of $ 7.2 million for the fiscal year that ended Sept. 30.

The city estimates that about 14 percent of the 34,000 monthly credit card transactions on parking meters are for periods shorter than an hour, including some in which the customer pays 25 cents for a 15-minute stay and the city in turn has to pay the entire 25 cents in a transaction fee.

People who foresee a short stay at a meter would still be able to use coins for a 15-, 30- or 45-minute interval, the city says. Or a person can buy an hour or more with a credit card, and then use the same sticker for a different spot as long as that parking falls within the time purchased.

The city will post signs about the change, parking enterprise manager Steve Grassfield said Tuesday, on its 700 or so pay stations and its 560 single-…………… continues on Austin American-Statesman

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