If a retailer doesn’t protect your credit card data and it gets stolen, should you be compensated? Not for any unauthorized charges, which are already covered under banks’ zero-liability protection, but for the time lost dealing with the problem, for the anxiety it causes, and for any future credit history/score issues it might cause?
credit cards
Maine's Supreme Court To Decide If Consumers Should Be Compensated For Hannaford Security Breach
By 10.12.09
The Consumer Financial Protection Agency And You
By 10.9.09
Legislation to create a Consumer Financial Protection Agency (CFPA) is making its way through Congress. Interested parties have spoken out (“It sucks!” “It’s awesome!“). Now the White House wants to know what you think.
Free Money From The U.S. Mint: Scheme, Scam, Or Gamble?
By 10.8.09
Earning easy money online: it is possible! That’s what fans of a particular scheme involving credit card rewards and the U.S. Mint claim. Is it worth the work and the risk?
Consumers Pay Down Credit Card Debt For 11th Straight Month
By 10.8.09
The Federal Reserve has released data on consumer debt for August, and for the 11th month in a row we’ve paid down credit card debt and increased savings. Take that, rate-hiking credit card companies!
Ending The 0% Balance Transfer Era
By 10.7.09
Ah, the glory days of American credit cards. When your credit card’s interest rate went too high, you could find a different card with a deliciously low promo balance transfer rate, and revel in your low interest. At least, until you let the card sit idle too long or made a late payment, and then started the cycle over again. But no more.
BofA Pledges To Stop Raising Credit Card Interest Rates
By 10.7.09
The AP reports Bank of America has promised to stop jacking up interest rates on credit cards with fixed interest rates. But that doesn’t mean your rate won’t jump.
Why American Credit Cards Suck
By 10.4.09
If you prefer to use a credit card when traveling abroad due to safety and better exchange rates, bad news. Other countries have adopted smartchip technology in their bank cards, and soon we Americans may be forced to use cash when traveling.
Man Puts Deposit Down On Used Car, Backs Out, Can't Get Money Back
By 9.25.09
Back in April, Nait put a $500 refundable deposit down on a used car, then decided he didn’t want to buy it anymore when he found it needed $10,000 in repairs. Five months later, neither the dealership nor Capital One, will refund his money. He gives a blow-by blow here.
Why Can't Microsoft Help Get This Guy's Stolen Xbox Live Account Back?
By 9.25.09
Erik has been patiently trying to get his stolen Xbox Live account back for a month and a half now, but all Microsoft has done to help is lie and fail to follow up on phone calls or emails. Oh, and there was that one point where they sent “how to get your account back” instructions to the person who had stolen the account, which sort of defeated the point.
American Express Wants You To Use Lame Passwords
By 9.24.09
We’re no longer indignant about Amex’s weirdly lax security policies anymore, we’re just confused. Why would a major credit card company cold call new customers and insist they give up bank and address info over the phone, or email sensitive data to strangers? Or, we just learned, demand that you use a lame password that isn’t case sensitive, is only 6 to 8 characters long, and can’t contain special characters?
Fed Keeps Interest Rates At .25%
By 9.24.09
Interest rates will stay at at a low low .25%, the Fed announced today. For you this means…
Congress Seeks To Move Up Credit Card Act Implementation To December 1st
By 9.24.09
Today, Reps. Barney Frank and Carolyn Maloney are going to request that the implementation date for the rest of the Credit Card Act‘s rules be moved to December 1st of this year instead of February 2010, after seeing companies “jacking up their rates and doing other things to their customers in advance of the effective date” all summer, reports Mary Pilon at The Wall Street Journal.
Bank Of America Reaches Out To Angry YouTube Star
By 9.24.09
While we don’t recommend doing this on a large scale, one woman’s YouTube debt revolt has succeeded. Ann MInch, a YouTube sensation and then-unemployed credit card rebel, has been offered a lower interest rate on her card.
Credit Card Traps
By 9.24.09
As if a global meltdown, precipitous drop in investment value, and widespread unemployment isn’t bad enough, now the economic recession is now making credit cards a bad thing. Will the travesty never end?
AmEx/Citibank Nullify Annual Fee For Laid Off Customer
By 9.23.09
Chuck lost his job several months ago and wanted to continue his American Express membership, but had trouble justifying the $50 annual fee in his limited budget. So he launched an Executive Email Carpet Bomb, started his own anti-AmEx blog and started picketing…
23 Tips On How To Pay Down Your Debt
By 9.21.09
If you’re still floundering when it comes to paying off debt, here’s a great starting place for you. The blog DoughRoller has listed 23 ways to get started on freeing yourself from debt, along with lots of links to tools and other articles or websites that can help.
Discover Vastly Improves T&C But Reduces Open Road Rebates
By 9.21.09
Discover Card customers received a notice in the mail recently that the card was reducing the “Open Road” rebate on auto maintenance and gas dropped from 5% to 2%. Around the same time, customers have also received notice that the terms and conditions for the card are basically coming in line with the CARD act ahead of schedule. Hmmm, coinkydink?
Does Living In California Make You A Higher Credit Risk?
By 9.21.09
Paul Smith, who lives in San Diego and has a credit score of 751, had his HSBC credit card limit lowered from $7,000 to $1,400 recently for mysterious reasons. He called HSBC to find out why.
