As the economy continues to improve, credit card issuers have begun to loosen their vice grip on lending standards in order to raise borrowing limits for consumers. But the move to provide extend credit to those with blemished histories has raised concerns with consumer groups. [More]
Two months since criminals first began stealing credit and debit card information via Target’s in-store payment system, the retailer is providing the first details on how the breach may have been made possible. [More]
Dan has a story of how his credit cards were stolen from his wallet and the scammer was able to get the account information changed so when the Capital One fraud department called to verify the suspicious charges, it was the crook who got the call. That way the fraudster could say, yes, I’m Dan, and I made those purchases in New York, even though I don’t live there. [More]
Howie had a Wachovia credit card, which is now a Wells Fargo card. After a barrage of balance transfer solicitations, he called them up to move some debt from another card over to Wells Fargo. The bank’s response? They promptly canceled his credit card. [More]
Be careful, travelers, skimmers aren’t just for ATMs. Here’s one a Dutch guy found on a local train ticket machine. This is even a little bit more insidious than an ATM skimmer because busy passengers are even less likely to hide their PIN or notice a skimming device before rushing to their next train. The site is in Dutch but just scroll through the labeled pictures. With phrases like “betterijen uit mobiele telefoon” it’s pretty easy to figure out what he’s talking about. [More]
“It’s the increased cost of doing business,” was Citicard’s constant refrain when Kent’s husband called to complain about their latest pre-CARD act adverse action insanity: transfer $5000 in balances from other credit cards to this credit card or we’ll double your interest rate. Listen to Kent’s message left on the new Consumerist hotline and/or read the transcript:
We think AT&T just stole about $157 from commenter Spoco. They applied the payment as always via his Amex card, but then said that it was declined and auto-debited it a second time a month later (+ late fees, of course). The only problem is, it wasn’t declined, and Spoco has proof. He just can’t get anyone at AT&T to care.
Americans are choosing plastic over paper when it comes to paying off the nearly $300 billion they rack up annually in medical charges — the leading cause of bankruptcy — every year, CNNMoney.com reported earlier this month.
Owners of Best Buy credit cards (via HSBC) are being charged $15 to pay their bill on time online. The only way to avoid the fee? Pay at least two business days early.
Our fearless co-leader Ben just sent us this link from the Consumerist Washington delegation. The New Mexico Independent sent a reporter to liveblog today’s credit card reform town hall meeting at a high school in Rio Rancho, NM. The transcript includes comments and questions from readers, and also comments from national and regional consumer advocates.
Sallie Mae‘s 2009 study of credit card use shows that students just love binging on plastic. Kids these days have more than four cards on average, and most of them carry a balance pushing $3,000. Many don’t tell their parents, and almost a fifth graduate with more than $7,000 of debt. This is how meltdowns start…
Andrea, an American Express member for over 20 years, is upset because AmEx canceled her cash-back card two weeks before her $500 rebate check was supposed to arrive, and declared the rebate forfeit.
Patricia closed her company’s American Express Delta Sky Miles card six months ago, but the expired card unexpectedly sprang to life thanks to a supplier’s accidental charge. American Express laughed off the matter, saying “this happens all of the time,” adding that it’s Patricia’s responsibility to ensure that all vendors destroy her outdated billing information.
Reader Craig ordered some gym equipment from Amazon, but he accidentally used his debit card instead of his credit card. Realizing his mistake, he immediately tried to correct the problem. He went through the change payment process right away and figured all was well. Of course it wasn’t, and he ended up getting charged $2,288.44 for $750 worth of equipment when Amazon got the refund process backwards. Twice. See how it happened after the jump.
I recently reached what I bet is a rare milestone: I have now gone 30 years, basically my entire working life so far, without a credit card.