Stop the presses! You know how most banks are glad to let you charge more than your credit limit and then charge you fees for the “courtesy?” CreditMattersBlog reports it turns out Chase will let you block these “over-the-limit” purchases. You just gotta call and ask for it, 1-800-432-3117. If you’re a Chase credit card customer and sometimes find yourself going over your credit limit and incurring fees, putting an over-the-limit block on your account could be just the thing.
banks
House To Pass Credit Card Reform, Tell The Senate To, Too
By 4.30.09
The House is expected to pass the Credit Cardholders’ Bill of Rights Act today, and the Senate is considering similar legislation. The Senate battle will be harder, but you can help!
We're Outsourcing Food Stamp Jobs To India
By 4.29.09
Poverty in America is creating jobs for people overseas, says ABC News. The saga began when a Florida resident’s hours working as a nanny got cut back when her boss’ hours also got cut. She called a toll-free line to inquire about her food stamps and noticed that the call center obviously wasn’t in the US.
6 Major Banks Fail Initial Stress Tests
By 4.29.09
6 of the major 19 banks failed the Treasury’s “stress tests” and need more cash as a buffer against losses, according to leaked preliminary results.
Helpful Service from Wachovia via Twitter
By 4.24.09
Reader Mike wrote to us about a problem he was experiencing with Wachovia (now part of Wells Fargo, but apparently keeping its own identity.) A day later, he he wrote back, informing us that the problem had resolved itself via Wachovia’s Twitter account. (Customers, take note: that’s http://twitter.com/Wachovia.)
Legislation To Protect Consumers From Crappy Credit Card Practices Moves Forward
By 4.23.09
The Credit Cardholders’ Bill of Rights is back in the news, and with Congress considering the legislation, we offer a refresher on what’s in this bill and why it’s important.
Oh Noes It's The "Shadow" Banking System
By 4.21.09
It doesn’t involve ninjas, but the “shadow” banking system is an important part of the US economy, it’s the companies that loan money but aren’t themselves banks. The loans they make aren’t kept on the companies books, they’re securitized and resold as bonds. White whiteboard and magic marker, Marketplace Senior Editor Paddy Hirsch argues this shadow banking system deserves it own bailout.
ID An ATM Skimmer
By 4.21.09
Here’s a 24-page PDF of a powerpoint on ATM skimmers that’s making the rounds in Australia. If you’ve been reading every ATM skimming post, most of this is review, but it contains several more examples of what skimmers can look like and what to watch out for. Though it’s from an Australian bank, most of the information is general enough to apply to any ATM. A handy document to pass around to friends and family to warn them about ATM skimming dangers.
Here’s What A Card Skimmer Looks Like On An ATM
By 4.19.09
[protected-iframe id="9b6e89c2a2d363ebc95643d071c6468b-40783744-40309798" info="http://digg.com/api/diggthis.php?u=http://digg.com/hardware/Here_s_What_A_Card_Skimmer_Looks_Like_On_An_ATM" width="55" height="82" frameborder="0" scrolling="no"]A lot of you have been asking to see what a skimmer looks like before it’s yanked off an ATM. Are they easy to spot or virtually unnoticeable? Our reader Timeus works for a bank and deals with this sort of thing every day, and he sent in the following photos. Enjoy.
Reader Finds Another Card Skimmer On ATM
By 4.19.09
Kelly sent us these pics of a card skimmer he found yesterday on a Bank of America ATM in Atlanta. He writes, “I asked the police what to do; they said give it to the bank. I asked the bank what to do, they said give it to the police. I assume that no one has established standard procedures to handle this kind of thing yet.” Well if nothing else, send us a photo! Then we can publicize it for other readers, which is how Kelly found it in the first place: “I would have not even recognized it or known to look for it had I not read the article on your website a week earlier about what to look for.” Full size pics below.
Payment Late? Lenders Can Remotely Disable Your Car
By 4.17.09
Repossessing cars is so old-fashioned. All that driving, locating people’s houses, towing the cars away… with the mess credit markets are currently in, who has time for that? Car lenders don’t.
Email Address Format For Capital One
By 4.15.09
This is the format for email addresses at Capital One: firstname.lastname@capitalone.com. Cheers.
Maybe You Should Just Go Back To Ignoring Me, HyperFriendly Chase Tellers
By 4.13.09
[I] had to go down an escalator and there were like 4-5 suited people at the bottom staring and smiling at me. My instinct was to run back up the escalator, it was really intimidating. Then I told like 5 separate people who were circling me like sharks that I was fine and preferred the teller. And then one guy went so far as to grab my withdrawal slip out of my hand!! He saw it and was like, ‘Oh, you don’t know your account number? I can help you with that from over here…’ It was unreal.
Rogue's Gallery Of ATM Skimmers
By 4.7.09
Since you guys liked yesterday’s post where a reader found an ATM skimming device so much, Network World has got a bit of “Rogue’s Gallery” of the credit card-number stealing machines so you’ll better know what to look for out in the wild. For instance, this photo shows how thieves will mount a camera on the ATM so they can record you typing in your PIN. It’s placed over the statement dispenser using plastic that matches perfectly with the “host” ATM. Sneaky.
What's This "Public-Private Partnership" Mean?
By 4.7.09
So the latest solution to the problem of these toxic assets on the banks’ books is a “public-private partnership” between the government and the private sector…yawn what is he going on about, I wish I had a pancake…oh wait! Here’s Paddy Hirsch from marketplace drawing stick figures on a whiteboard and explaining it all. Now we’re talking.
Chase and Citi Shut Door On Mortgage Brokers
By 4.6.09
You’re cut off! JPMorgan Chase and Citi announced they’ll no longer accept mortgages submitted by mortgage brokers. The move seems to be a way for the banks to exercise more control over the loans they undertake. At first blush, this sounds like a good thing, for banks to be looking their borrowers in the eye, a throwback to the days when credit was earned instead of splooged out like candy in a parade (days epitomized in this 1950’s short, “The Wise Use of Credit,” posted inside…) On the other hand, it could be more just a way to snag market share and shut out the competition, which can lead to higher interest rates, borrowing costs, fees, and lower service.
Reader Finds Card Skimmer On Bank ATM
By 4.6.09
Dan says over the weekend he discovered a card skimmer attached to the ATM at his local WaMu branch. He pulled it off and took photos of it.
