Visa Credit Card Scam

May 30, 2011 Posted Under: Credit Cards Info

The Visa Credit Card Scam has been around for a while, but there is renewed interest in this type of scam. It is unclear whether any Visa credit card scam has made its way to the UK, but it is imperative to report all types of scams to ensure you are prepared.

How the Scam Works

The scam begins with a phone call that states they are from the security department of your credit card company. They will tell you they are Visa, MasterCard or whatever card you may hold. They will not tell you they are the issuing company such as Barclay. This should set off warning bells because you always converse with the issuing company rather than Visa or MasterCard. The person will quote some details, perhaps even a badge number to be more convincing of who they are.

The person on the phone will tell you that transactions have been flagged given your purchase patterns. They will ask if you bought similar items or a particular item from a company.

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Keeping a Happy Marriage with Separate Finances

May 30, 2011 Posted Under: Credit Cards Info

Some things in life are meant to be shared while others most certainly are not. Of course, then there are those in-between things that could arguably go either way. For many couples, finances are a black and white issue. Most couples either have combined finances or separate finances, depending on their preferences and financial situations. Some couples may have separate accounts as well as combined accounts. It really comes down to a comfort level in most cases.

Sometimes couples choose to keep separate finances to avoid one person taking on the other person’s debt. Others feel finances are a private personal matter, which can be a bit concerning in cases of marriage with separate finances. When you look at the whole picture, a couple’s decision to combine or separate finances really does come down to the individual couple, their habits, and their communication style.

Money is a common point of contention for many couples at one time or another in their relationships. If it’s not overspending, it could be where to spend.

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Should New Credit Cards Received in the Mail Be Activated?

May 20, 2011 Posted Under: Credit Cards Info

Those who have good credit often receive a variety of credit cards in the mail, which are already approved and ready to be used. Companies send these out to customers who they know are a very low credit risk, in the hope that they will start using them. The cards can be activated after receiving them, which allows them to then be used by the consumer, up to the pre-set credit limit that comes with the card, as long as the cardholder has agreed to the contract, verified their identity and set up their pin number with the credit card company.

The question is, however, should consumers activate new cards which they receive in the mail. Many people do activate nearly every card that they receive, and there are advantages and disadvantages on both sides.

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Direct Deposit May

May 20, 2011 Posted Under: Credit Cards Info

Remember-direct deposit saves you time and protects Mother Earth. That’s why NACHA has designated the month of May to highlight the many benefits and resources available to individuals and companies of using Direct Deposit as a means of streamlining processes and saving money. With it, NACHA is promoting all things Direct Deposit and Direct Payment including What it is, how it works, the benefits; implementation and marketing tools and resources; calculation tools to estimate how much you can save by switching your organizations payroll from paper checks to Direct Deposit; how to communicate the benefits of Direct Deposit and Direct Payment; and how to increase employee benefits by adding split deposit to your payroll program. Learn more today at www.electronicpayments.org today!

MasterCard and Brighter Planet

May 17, 2011 Posted Under: Credit Cards Info

MasterCard and Brighter Planet introduced their joint program to make carbon emissions analysis easier for your business. In response to the nearly 80% of companies expressing interest in green travel initiatives, MasterCard “Carbon Emissions Reporting” feature represents the first time that automatic reporting and analysis of estimated travel-related carbon emissions data will be available through your MasterCard corporate card based on your card transactions. The “Carbon Emissions Reporting” program provides access to new data that is increasingly valued by companies as they strive to benchmark sustainability goals and initiatives, confront sustainability standards on their supply chains, and address the environmental concerns of stakeholders.

Credit Card Defaults and Late Payments Drop with Top 6 Card Companies

May 15, 2011 Posted Under: Credit Cards Info

Consumers have managed to lower their credit card defaults and late payments with the top six card companies in April, says a new report from The Associated Press. The report revealed that more card users are in control of their spending than they have been in some time.

Card Issuers See Improvement in Customer Payments

According to the report, card issuers saw major drops in defaults (balances considered uncollectible, or charge offs) and late payments in April:

  • Capital One Financial Corp.: Cap One reported a drop in defaults to 4.97 percent annualized, which is the biggest drop among the card issuers and is a level not seen since late 2007.
  • American Express Co.: Amex celebrated the lowest default rate, which was 3.5 percent. Th

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iPhone Credit Card Reader

May 11, 2011 Posted Under: Credit Cards Info

You can now make payments through your local brick-and-mortar retailers using the Square credit card reader through your Apple iPhone! Soon available at Apple’s retail stores and official website, the device allows you to plug a retailer’s reader from a retail outlet or online and insert it into the iPhone 4. Once plugged into the iDevice, you will need to download the free Square app from the App Store and employ the offering without entering into contracts or paying monthly fees. Compatible with the iPhone 4, the fourth generation iPod touch and the iPad, the Square credit card reader helps users track sales and taxes and transfer of receipts. No more lines, no more waiting!

Study: Late Fees Decline and Interest Rates Stabilize Due to Credit Card Act

May 10, 2011 Posted Under: Credit Cards Info

A study released on Tuesday from the Pew Charitable Trusts says that credit card late payment fees have declined and interest rates have stabilized thanks to the credit card legislation. While the study notes that the changes occurred two years after the legislation was signed, this could mean the law has truly made an impact.

Credit Card Act Has Made a Difference

The study, which examined about 300 consumer credit cards offered via the internet by the 12 largest banks and credit unions from March 2010 to Jan. 2011, shows that a number of positive changes have occurred as a result of the Credit CARD Act.

One major change is that charges for late payments on U.S bank-issued cards decreased from a median of $39 to a range of $25 to $35. How

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