Anecdotal evidence suggests that a recently reported data breach by an undisclosed “major retailer” has resulted in a jump in consumers having their debit cards forcibly reissued, or calls from their bank to verify their recent purchase history. The problems seem to have started just around Christmas time and have continued into mid-January.
How to cancel dead parent’s credit cards. Remember that when closing down a deceased relative’s accounts, any outstanding balances are to paid by their estate, not their heirs. [Kiplinger]
This is not funny. This is sad. Very, very sad. They should at least offer Coke.
American Airlines told Justin that they could not accept his American Airlines credit card due to a bug in their spiffy new booking system. Justin wanted to charge a trip to Disney World on the card, which unlike standard credit cards, is supposed to work exclusively for purchasing tickets with American Airlines.
American Express stock fell 7% after saying it would have to write off $275 million, thanks to more and more customers not paying their bills. What is probably happening is that people can’t tap their home equity so they’re going to the next easiest line of credit, credit cards, and failing to pay their bills there as well. In Walden, Thoreau talks about how early New Englanders would make their first homes by digging a cellar in the ground and putting a roof of saplings and bark over the top of it. My, that would make a mighty fine recession shelter.
Thought you might enjoy this: We got an application for a jetBlue-branded American Express card in the mail today for our oldest daughter. She is four. We flew on JetBlue about four months ago, so I suppose they sent their entire passenger manifest over to AmEx.
One lady reports that she started to get inexplicable credit card charges from Creditreport.com. After speaking to 12 different reps, she reached a supervisor who threatened to sue her because she had signed a contract. When she asked for the contract to be mailed to her, the supervisor said, they “couldn’t” print it out, they could only email it. To which the lady responded, “So how exactly is this going to hold up in court? What are you going to do, Email the judge?” Oh snap. Eventually, after a little more hassle, they canceled her account. Someone should have told her that the only place to go to for a free, no strings, no monthly fee access to your credit report is annualcreditreport.com.
The financial columnist at MSN Money quizzed five credit card industry experts and a frequent flyer expert to find the best cards when it comes to travel programs, cash back programs, and savings programs. She narrowed it down to a top six—two in each category—and a bunch of near misses.
If you use services like Bill Me Later, eBillme, or Pay Payl’s Pay Later—payment options designed to let you pay online without using a credit card—you should be aware of the risks as well as benefits that come with them, writes SmartMoney. The most important thing to consider: as far as FICO is concerned, you’re applying for a line of credit (with the potential for high interest rates) when you pay with one of these systems, and your credit score may drop accordingly.
Reader Jamie shares a neat workaround so that he never has to wait on hold with his credit card company. He says that whenever he calls, “I do not use the 800-number on the back of the card. Instead, I use their outside-the-US instructions on the back of the card and call them collect at their regular phone number. When the credit card thinks that they are paying international collect call charges, they do NOT put you on hold – they take your call right away!”
The Chase customer service rep whose 10 Confessions we posted last week has been reading your comments and has responded to some of your questions. The rep also offers five more tips that they forgot to include in their original post.
If you bought anything from Geeks.com in at least the last year or so, you might want to start paying close attention to your credit card statements—the company sent out an email on Friday telling former customers that they “recently discovered on December 5, 2007 that customer information, including Visa credit card information, may have been compromised.” Full email after the jump.
Royal Farms refuses to fix a broken gas pump that charges customers even after the gas stops flowing. The pump in Abingdon, Maryland has overcharged Tom on five separate occasions, and Royal Farms refuses to issue a promised refund.
Do you know the one thing to never say to a customer service rep if you’re late on your bill? Do you know how Chase ranks you, and how you’re ranked determines whether they help you out in a bind? Do you know the best way to get what you want from customer service? After you read these 10 confessions from a Chase customer service rep, you will.
Credit card companies make it impossible for consumers or markets to know the true cost of credit, according to Georgetown Law professor Adam Levitin. The professor makes his point with a pop quiz:
… what’s the interest rate on the credit cards you’re carrying? How about the default rate? Do you know what constitutes an event of default? What will trigger a penalty fee or surcharge? How much are those fees? If you’re like most Americans, you probably cannot answer many or all of these questions.
We’ve received two letters claiming that Hollywood video is signing their customers up for magazine subscriptions without their consent. The scam sounds similar to the ones that Best Buy is accused of in their on-going racketeering lawsuit.
New York taxi drivers have resigned themselves to a fate with credit cards, according to a New York Times investigation. Cabbies struck twice this year to protest regulations forcing them to accept credit of all stripes. To see if cabbies are following the new rules, the Times asked five reporters to hop in twenty cabs each with one question: “I’ve only got a credit card, is that O.K.?”