There has been a recent uptick in the number of credit card skimmers caught on ATM machines and as such, you have a responsibility to make sure you are safeguarding your information at every turn. Skimmers can be installed not just on ATMs but also on any card reader that you might come into contact with in any public place. By knowing a few upfront tips to spot these skimmers, you can avoid falling into their trap the vast majority of the time.
Examine the ATM
Prior to using your card...
We have all heard about the future of mobile payments and how easy it will be once all mobile manufacturers finally agree to a universal form of technology. Until that time comes, we are left to piece together mobile payment processing based on the features our phones offer. A new start-up, iCache, has created a versatile solution that allows the future to become the present.
The new product, labeled Geode, is a complex iPhone cover that functions both as a case and a digital wallet, giving...
Debuting in April, the Sallie Mae Cash Back Visa Card is designed especially with students in mind. With college graduation looming for many students, the worry of paying off debt can be a burden. For those who are responsible with their finances, Sallie Mae's new Visa may be a good option for earning some serious credit toward paying off that debt.
This card allows members to earn five percent cash back on a variety of items, including groceries, gas and student books. The cash back option...
The Pacific Ocean isn't the only thing making waves on the shores of Hawaii nowadays. According to local sources, the State of Hawaii is now pursuing a lawsuit against several major credit card companies in their efforts to fight the unfair price gouging and invalid purchases that the state government claims is occurring.
Public records indicate that the lawsuit is being filed due to numerous consumer complaints about receiving charges on their credit card statements that were unauthorized...
Across the United States, more and more cases of people reporting increased prices when using credit cards are occurring. When did it become cheaper to pay with cash? Apparently in the past year, as many convenience stores are now moving to add surcharges to fuel purchases that in some cases are ungodly.
Throughout the suburbs of both New York City and Los Angeles, we have heard reports of gas stations charging as much as $2 per gallon more for using a credit card as opposed to paying with...
In the age of information technology, credit card companies are able to keep tabs on you more than ever. With the increased amount of information that they are able to collect on you and your purchases, card issuers are taking a more "proactive" approach in monitoring your spending habits. These spending habits are categorized, leading you to be viewed as a statistic based on what you buy. Some things automatically indicate that you are a credit risk, which can lead to your credit card limit...
Continue reading According to data collected annually by credit card issuers and payment processors, global expenditures using debit and credit cards have increased by 12.1% between 2010 and 2011. The total expenditure documented for 2011 was $135.33 billion, up from $120.77 billion in 2010. The information was released by The Nilson Report in a study entitled Global Credit Card Brands.
Adding to the trend of payment cards' growth is the switching in many countries from cash and check to more modern forms...
Despite new, strict regulations placed on banks and credit card issuers by the United States Congress, they are fighting back by finding the loopholes in the provision. Apparently, banks are now counting loans (aka college debt) as income that can be used to justify providing a student with a credit card.
The practice of counting debt as income for college students has recently come to light thanks to Jim Hawkins, an assistant professor at the University of Houston Law Center. His report...
Even though Tax Day has come and passed, millions of Americans have yet to pay their taxes for 2011. The IRS is fairly lenient in allowing you to pay your taxes late (1% penalty for each month it is late) but it is certainly not a good habit to adopt. There can be serious downsides to paying your taxes with a credit card but if you do it the right way, you can actually benefit in the end. Here are a few tidbits on proceeding to pay your tax balance with a credit card and what to do to avoid...
Continue reading In the wake of the recession and its gradual retreat from the American economy, people who are stuck in the middle when it comes to credit are finding it more difficult to jump back onto the credit wagon.
Thanks to the recession, changing credit card regulations and new perceptions about who and who doesn't deserve credit, the credit markets - once a haven that covered every single person and all credit demographics - now have become a discriminatory marketplace that focuses on providing...
The Consumer Financial Protection Bureau, created by the Obama Administration as a part of Wall Street and credit card reform, is announcing that it will be backing down from its previous plan to limit the amount in upfront fees that a credit card company can charge you for using one of its cards.
The agency acknowledged in a statement that its plans to abandon the limitation of upfront fees will lead to higher charges for consumers but due to lobbying pressure from the industry and a...
Student loan debt in the United States in 2012 is now approaching $1 trillion and has surpassed credit card debt as the primary source of individual debt. Partly due to skyrocketing tuition costs and partly to do with what some have called a "college bubble", this trend has led to virtually every individual under the age of 30 having at least some student loan debt that is constantly eating away at their finances and preventing long-term financial freedom. With some interest rates on student...
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