When there’s some miscommunication between your bank and your credit card company, you would hope that the two parties could act like professionals and sort it out — especially if they’re both part of the same financial institution. But that’s apparently not the case with Chase. [More]
credit cards
When To Keep Your Credit Cards Safely In Your Wallet
By 2.22.12
Yesterday we addressed reasons you shouldn’t use a credit card to pay your taxes, and there are several other situations in which personal finance experts recommend keeping your cards holstered. Fees, interest charges and security pitfalls are reasons to opt for other methods of payment. [More]
Why You Probably Shouldn't Use A Credit Card To Pay Your Taxes
By 2.21.12
As the deadline for filing your federal tax return draws near, so does the anxiety of how you’re going to pay Uncle Sam the money you owe. If you can’t write a check for the full amount, the simplest and fastest way could be to put it on your credit card. But that’s probably not a good idea. [More]
How The Different Credit Card Issuers & Networks Handle Chargebacks
By 2.21.12
Whenever someone has a dispute with a merchant over a credit card charge, we always suggest they attempt to issue a chargeback through their credit provider. But not all card issuers and credit card networks handle chargebacks in the exact same way. [More]
Don't Fall Into The Credit Card Balance Transfer Trap
By 2.14.12
If you’re holding a hefty balance on your credit card at a double-digit interest rate, it might be tempting to apply for that new credit card promising you 0% interest on balance transfers for anywhere from 12 to 18 months. While it’s definitely a sound idea to pay less interest, don’t be tempted into behavior that will only lead you into deeper debt. [More]
Woman Sues Wells Fargo For Telling Police She Was Contemplating Suicide
By 2.7.12
An elderly Oregon woman has filed a lawsuit against Wells Fargo, alleging that a bank employee harassed her by telling the police she was threatening suicide — and running up a $1,055 hospital bill in the process. [More]
How To Build Your Credit Without A Credit Card
By 2.7.12
While responsible credit card use builds up your credit history, reckless plastic spending can ruin your finances. If you don’t trust yourself with credit cards, you can opt for other ways to prove to financial institutions that you’re responsible with money and worthy of loans with reasonable rates. [More]
Discover's Purchase Protection Doesn't Extend To Purchases With Cash-Back Rewards
By 2.1.12
One of the benefits of using a credit card for all of your purchases (and paying it off every moth, naturally) is the extension and sometimes expansion of a product’s original warranty. That’s what Cindy does, making purchases with her Discover card for protection and cash back. What she learned not long ago is that you can have the warranty extension, or use the balance in your cash back account, but you can’t do both. [More]
Consumers Getting Mixed Messages On Debit Cards In Wake Of Swipe Reform
By 1.24.12
Last year, banks and financial regulators on Capitol Hill went head-to-head over swipes fees, the amount of money banks charge businesses each time they accept a debit card purchase. While swipe fees did end up being reduced by only a fraction of what had initially been proposed, banks are still whining about the pennies they are no longer bringing in. Thus, shoppers are receiving mixed messages from retailers and financial institutions about whether to use their debit card, credit card, or cash. [More]
Don't Bother Getting A Kindle Fire Unless You Have A Credit Card
By 1.13.12
Heather really likes her new Kindle Fire, once she got it working, but she’s sending it back. Why would she do that? Because the Fire isn’t a very fun device without Amazon Prime, and you need to have a credit card to sign up for Prime. She doesn’t have any credit cards, and she doesn’t want any. So back the Kindle goes. [More]
Here’s A Credit Card That Looks To Trap ID Thieves By Making Them Think They’re Clever
By 1.11.12 — Updated: 1.8.15
We’ve already seen credit cards that generate unique, random security codes every time a card user makes a purchase, so that it would require the buyer to have the physical card on them in order to buy something. But here’s a card that wants the ID thief to think he’s more clever than he is. [More]
U.S. Supreme Court Rules That Consumer Credit Card Claims Must Be Handled By Arbitration
By 1.11.12
Credit card companies scored a win yesterday, after the U.S. Supreme Court ruled that credit card claims by consumers must go to arbitration, instead of being tried in a court room. The ruling overturned one made by a U.S. appeals court in San Francisco that had said the Credit Card Repair Organizations Act was meant to bar arbitration. [More]
Bank Of America Thinks I'm My Own Dad, Turns Me Away During Emergency
By 1.4.12
When Bank of America issued Jorge’s credit card in 1998, for some reason that remains unclear, the card was issued in the name of “Jorge [Lastname] Sr.” Jorge doesn’t have a son named Jorge Junior, and there’s no reason why the account should be set up that way, but Bank of America assured him that this wouldn’t be a problem. And it wasn’t. Until he needed an emergency cash advance, and couldn’t prove to the unfamiliar branch’s satisfaction that he hadn’t, say, stolen his dad’s credit card. [More]
The Average Credit Card Now Comes With An APR Of Over 15 Percent
By 1.3.12
With credit card interest rates reaching new highs, you might want to try to pay off that card as fast as you can, so you don’t end up paying through the nose if those rates continue to climb. [More]
Debt Collectors Resurrect Old Debt By Issuing New Credit Cards
By 1.3.12
People with credit scores that prevent anyone but their mom from lending them money are suddenly receiving offers that allow them to have a credit card — on the condition that they pay back part of an old debt that they are no longer legally obligated to pay. [More]
Macy's Can't Keep Track Of Who Made Which Payments On Whose Credit Account
By 1.3.12
Call center representatives who handle Macy’s credit card inquiries are starting to wonder what’s wrong with reader Melannie. She keeps making $150 payments on her account, but she doesn’t owe anything. She hasn’t even used the card since 2009. They can refund her the overpayment, but that’s not the problem. Because she never made the payment in the first place. [More]
Resurrect That Worn-Out Credit Card Strip
By 12.22.11
Use your credit card enough and you’ll render the magnetic strip unreadable. You can call the company and have a replacement sent over, but in the meantime there’s a quick fix to which you can resort. [More]
Shield Yourself From Credit Card Skimmers
By 12.22.11
Since you never know for sure whether or not there’s a skimmer device on credit card readers you use, any swipe potentially puts you at risk of identity theft. The best you can do is to avoid explicitly dangerous situations. [More]
