Calif. supervisor fires back over credit card use

Posted by administrator | 21/11/12 | Tagged Credit Card

Calif. supervisor fires back over credit card use
News from San Jose Mercury News:

SAN JOSE, Calif.—A Santa Clara County supervisor under fire for his use of a county-issued credit card is firing back.

George Shirakawa told fellow supervisors at a board meeting on Tuesday not to be distracted by what he characterized as a “political lynching.”

The 50-year-old Shirakawa—the board’s president—has been criticized for charging taxpayers more than $ 36,000 over the past four years. The charges include more than 180 meals, often at high-end restaurants, a high-definition television and trips to luxury resorts and casinos.

The San Jose Mercury News reports (http://bit.ly/QX32Ue) that Shirakawa’s remarks preceded a discussion about policies surrounding use of so-called “Procurement Cards,” the credit cards issued to hundreds of county employees and a handful of elected officials.

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Information from: San Jose (Calif.) Mercury News, http://www.mercurynews.com

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Calculate The True Cost Of Credit Card Purchases Before You Buy
News from The Consumerist:

(Spidra Webster)

This is good advice any time of the year, but since many of us are about to launch into spending sprees in the oncoming days, it’s as good a time as any to remind shoppers to think long-term about how much they are actually going to pay for an item purchased with a credit card.

Yes, we know that you always pay your credit card bill off in full and on time. But there are many millions of people out there who use their credit cards to finance purchases and pay down their bill over time.

According to Equifax, high outstanding debt accounts for 30% of your credit score. That’s why it helps to know exactly what sort of interest you’ll have racked up by the time you finish paying for the purchase.

None of this is to say that you should not use a credit card, especially since credit cards offer significantly more consumer protections than debit cards or cash. It’s just a suggestio…………… continues on The Consumerist

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Credit Card Use Up From Last Year

Posted by administrator | 21/11/12 | Tagged Credit Card

Credit Card Use Up From Last Year
News from KCEN-TV:

(KCEN) — Americans are getting ready to crank up the use of their credit cards.

According to credit reporting agency Trans-Union, the average credit card debt per borrower was up from July to September.

In fact, it grew 4.9 percent compared to the same period last year.

The agency’s analysis of consumer-credit data also showed credit card payments at least 90 days overdue were also up.

Americans are also carrying higher card balances, but that could be due to the upcoming holidays.

Card holders tend to use their cards for the holidays and pay down the balance in the spring.

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Diamonds used as credit cards…
News from fox5sandiego.com:

SAN DIEGO – Even as the economy starts to recover, people are still struggling to pay the bills, and after the cash is gone many people sell  the family jewelry to get by.

Diamonds have always been a questionable asset. The jewels are worth only what someone is willing to pay.  The going rate is 40 percent of the original price, according to Cashco Pawn Shop in City Height.

“People should hold on to their diamonds,” said Moris Adato CashCo’s gemologist.  “If people sell their jewelry they get the cash but could end up in the same situation in a few months. But they won’t have a diamond.”

Adato said if people pawn their gems, they will pay an interest rate of 4 percent. If they buy the gem back, the diamond can be used time and again. The system if used correctly, works almost like a credit card, he said.

…………… continues on fox5sandiego.com
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