This CNN report shows how universities are cutting lucrative deals to let credit card marketers push their wares on campus. Schools will get commissions based on signups, or even based on the amount students charge on their new cards.
credit cards
BoA Buys MBNA, Starts Charging Customers Extra For Not Paying Balances Off In Full
By 4.11.07
Bank of America recently bought MBNA and greeted their new customers by charging them a new fee.
Reclaim Unnecessary Credit Cards' Unnecessary Foreign Transaction Fees
By 4.10.07
Several major credit card companies were successfully and recently class-actioned for charging unnecessary fees for overseas transactions.
What Is A Chargeback?
By 4.9.07
A chargeback is when the credit card company withdraws the money for a transaction from a merchant’s account and deposited in a consumer’s following a dispute.
Got A Late Fee? Ask For A Credit
By 4.8.07
Next time a late fee mars your bill, ask to have it waived. It helps to have a history of timely payments made in full, as Five Cent Nickel discovered when his Citi Mastercard was hit with a $39 late fee plus finance charges.
I was, of course, really bummed. After all, we’ve never paid a late fee or an interest charge to a credit card company. Was the streak about to end? Not if I had anything to say about it!
Easily Compare Best Credit Card Offers
By 4.4.07
Bankrate has a very handy online tool for comparison shopping for a credit card.
How TJMaxx Hackers Stole 45.7 Million Credit Cards
By 3.30.07
TJMaxx computer system intruders who stole 45.7 million credit cards siphoned off customer data using a program they implanted on the company’s servers, recent regulatory filings reveal.
Most Likely Site of Credit Card Theft: Restaurants
By 3.30.07
Visa reports that more credit card information is stolen at restaurants than at any other type of business. 40% of all credit card information theft is traced back to restaurants. But don’t blame your waiter!
45.7 Million Credit Cards Stolen In TJMaxx Breaches
By 3.29.07
45.7 million credit cards were stolen in recently disclosed security breaches at TJMaxx, regulatory filings revealed yesterday.
NPR: Elizabeth Warren On The Credit Card Industry
By 3.28.07
Reader Jaime alerts us to an interesting interview from Fresh Air on NPR. In the interview Harvard Law Professor and credit card industry expert Elizabeth Warren dishes on abusive lending practices, the ever-malleable interest rate, universal default and all that fun stuff.
Financial Tips From CBS/The Nation: "Get a Loan From the Mafia."
By 3.23.07
“[I]f you need money to pay your medical bills or get your car fixed, get a loan from the Mafia. You’ll get a lower interest rate and better terms.”
TJ Maxx Data Thieves Caught Buying $8 Million in Walmart Gift Cards
By 3.23.07
Stolen TJX data has been linked to 6 arrests in the Miami area. According to the AP, the ID thieves exploited a Walmart gift card loophole that allowed them to buy multiple $400 gift cards without showing ID, which they would then redeem or sell.
The Paradox Of MSN: You Want To Cancel Because You Lost The Password, You Need The Password To Cancel
By 3.23.07
Reader Kim is mad. Her dad called MSN because he was having some computer issues, and they changed his password to something that he doesn’t remember. Unfortunately for Kim’s Dad, MSN’s solution to a lost password is to email the password to the account that you lost the password for. Even more brilliantly, if you call to reset your password, MSN’s verification system is based on the credit card number used to open the account, and that Kim’s Dad no longer remembers.
AFFIL: A Day Late and a Dollar Short?
By 3.16.07
The message from the Americans for Fairness in Lending (AFFIL) is clear: Your home, your family, and your life are all in the crosshairs of predatory lenders across the nation. One look at their marketing material leaves no doubt in your mind that the consequences are dire unless we take action. Now AFFIL, along with a number of partner organizations including the Center for Responsible Lending, the NAACP, and the Consumers Union, have unveiled a new publicity awareness campaign designed to bring their message into your living rooms.
WaMu Unstrands Credit Card Theft Victim
By 3.16.07
Marty, the traveler stranded overseas after his credit cards were stolen and Washington Mutual refused to help him, has a happy update to his blog. The morning after he posted his blog entry, Rosie from WaMu Executive Customer Service called him. She apologized profusely for the poor level of customer service and stepped in to resolve his problem with speed. WaMu removed all the fraudulent charges, save 29 cents.
Credit Card Numbers Decrypted
By 3.15.07
You might swipe your credit card several times a day, but did you ever wonder what those numbers on it mean? Those sixteen to nineteen, raised numbers, glistening in the sunlight… They’re more than just means to buy groceries at the supermarket, or a gadget online.
Credit Card Savvy Roundup
By 3.15.07
“You guys are so awesome. You call your credit card company and you ask them to lower your APR…and they do! It just keeps happening!”
