With it still being tough out there on the economic front, it would make sense that more and more people are looking inward to solve their own financial problems. One of the ways in which cash-strapped folk are handling this situation is by obtaining prepaid credit cards, which allow many of the same flexibilities as traditional credit and debit cards but none of the harassment and liability that comes with having an account with a lender.
A recent report released by the Consumer Federation...
In the age where credit seems about as scarce for the average person as polar bears or dinosaur bones, more and more credit card companies are trying to appeal to those who do have good credit by offering an array of perks.
With more competition coming out of the Great Recession among card issuers combined with a smaller pool of demand, there has been a new wave of offers being unveiled by major entities that include much lower interest rates and heftier bonuses for using credit cards for...
Most of us use social networks to keep in touch with our friends and family, and many of us have noticed that there are an increasing number of advertisements being shown to us that match our preferences and social network browsing history. This sort of targeting is the result of how you interact on these hubs and subsequently, advertisers on the network being able to create ad campaigns that target select individuals. But did you know that your credit card company is doing the same...
Continue readingEven though worries about this year's levels of consumer spending are being discussed, key analysts of credit card companies are expecting steady growth in the usage of credit cards over the next year. In the past quarter, credit card usage has increased by approximately 6% when compared to the previous year.
With various financial issues appearing in the economy such as late tax refunds and higher taxes beginning in 2013, many card companies like Visa and MasterCard have been worried that...
The Federal Reserve has released a recent report that, among other things, shows that mobile banking usage is becoming quite common.
More Americans than ever used their mobile and smartphones to access online banking in 2012: approximately 28% of all phone owners. In 2011, only 21 percent of Americans used mobile phones to access online banking and financial services such as credit card statements. Among these individuals in 2012, 87 percent used online banking services to check their bank...
Many Americans, when in their youth, remember the time they obtained their first credit card. A novel concept, indeed: with the ability to spend money that you do not currently possess, it opened doors for many who would otherwise not be able to cover emergency expenses or purchase items necessary in the here and now.
Fast forward to the present day, and you will find that many of today's youth are not following in their parent's footsteps, at least when it comes to credit cards.
Credit...
After five years of economic turmoil, it would appear that American credit card holders have learned their lessons, avoiding the over usage of their cards and paying down what existing debt they have. Providing even more optimism is the fact that more and more credit card bills are being paid on time than at any other point within the past eighteen years.
Data released by the American Bankers Association shows that the fourth quarter of 2012 had the lowest amount of delinquent payments as a...
Nearly twenty states are now considering the implementation of bans on retailers charging extra fees for the use of debit and credit cards in their facilities. Originating in state houses all across the country, eighteen states have pending legislation that seeks to forbid the practice of retailers penalising their customers for using an alternative form of payment. New federal laws have permitted retailers to begin doing this, as a way to help recoup the cost of processing payments made using...
Continue readingOperating from Romania, a very large global credit card scheme was brought to an end on March 28 thanks to the collaborating efforts of nearly two dozen law enforcement agencies from all across the globe.
The network, dubbed “Pandora Storm” by law enforcement agencies, thrived by modifying the software and hardware of select point of sale terminals throughout Europe in order to gain access to shoppers' credit card numbers and PINs. Once the information was in the hands of the criminal...
After limiting access to bank accounts and credit cards earlier this week, Cyprus is now clarifying that any imposed limits do not apply while inside the country. In order to revive the stalled economy – which was caused by a series of issues that nearly resulted in the bankruptcy of the entire country – Cyprus' central bank made the announcement that there are no limits on debit or credit transactions while located within Cyprus itself.
The central bank announced earlier this week that...
Young Americans have less debt than before, but lower debt levels come at the expense of lower asset ownership. The Pew Research Center finds that Americans aged 35 or younger are putting off major purchases like cars and houses, both of which are keeping young Americans from less debt than they had in 2007.
The median change in debt for those under 35 fell by some 29% since 2007, whereas the decline for households with an adult 35 or older was only 8%. Meanwhile, younger households...
According to a new report, some 12.6 million people in the United States were victims of identity theft in the most recent year. The study from Javelin Research reveals that as many as one million more people reported ID theft in 2012 than in 2011.
The cost of dealing with identity theft also increased. In 2012, as much as $21 billion was spent to find identity thefts, correct inaccuracies resulting from fraud, and protect consumers against future identity theft. As with previous years, most...