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May 2008 Archives


Further details have emerged about what consumers stand to gain from the settlement of a class action lawsuit against credit reporting giant TransUnion. The details revolve around the words "millions" and "billions."

Jocelyn Kirsch, the "Bonnie" of identity theft, has stolen a credit card while waiting to strike a plea deal for several other identity theft and fraud charges. Some things never change.

This week came with many fascinating blog posts on credit cards. Here are the eight best, including the inside scoop on store credit cards from retail employees, Sex and the City credit card spending and a list of little-known methods that will wreck your credit score, such as library fines. Here are the best eight I found. Plus an LOLcat.

Millions of consumers will soon be eligible for free credit monitoring for nine months as the result of a class action lawsuit tentative settlement announced today.

Dads shouldn't expect much this Father's Day, but those who are getting something should expect gift cards. That's the finding reported by Brand Keys, a brand and customer loyalty consultancy based in New York. According to the results of a consumer study, while dads usually get less on their designated day than moms do, fathers are becoming an increasingly discretionary expense.

Gas card giveaways, raffles and promotions are all the rage, but use those cards quickly.

This past Earth Day, I put together a feature on all the "green" credit cards available in the United States. We can now add another one to the list: HSBC North America has just launched its own environmentally-friendly card (interestingly, Leonardo DiCaprio was promoting the Chinese version of it in Hong Kong earlier this year).

An ailing economy means emptier mailboxes. Financial service companies -- and especially credit card issuers -- have sharply cut back their direct mail offers according to research released Tuesday.

Tired of getting hit with late fees for credit card payments that arrive hours after a 1 p.m. or noon payment deadline? Credit card issuers would no longer be able to set early morning or other seemingly arbitrary deadlines for...

As the economy slows and inflation picks up, consumers may want to redeem their gift cards as soon as possible.

Uncollectable credit card accounts slowly growing -- but are not at historic highs, new Federal Reserve data shows.

Several tools and laws are set up to provide soldiers with identity and credit protection while they are deployed abroad.

Have you ever shown up at the mall knowing exactly what item you are looking for, but had no idea where to begin? A company called NearbyNow has a mobile solution that may help you shop more efficiently, though by consequence it may allow you to spend money with more ease.

In its biggest sweep ever targeting telemarketing fraud, the FTC announced "Operation Tele-PHONEY," a partnership with more than 30 international, federal, state and local law enforcement agencies. According to a Web cast and press release issued today, the FTC has filed federal district court complaints against "13 allegedly deceptive telemarketing operations." The FTC estimates that the law enforcement actions will save consumers around $30 million over the next year.

As identity theft becomes increasingly common, businesses are creating multitudes of solutions to safeguard consumers' personal and financial information. Some seem to offer false promises, while others are failing to catch on. Fortunately, a new identity theft protection system truly shows promise.

Cybercrime is a booming business, and now there's a new generation of carders on the prowl that operate far below the public radar, launching "full-fledged online bazaars full of stolen personal and financial information."

Credit card issuer Capital One says that charge-offs in its U.S. card business rose in April, while delinquencies fell.

Student loan giant Sallie Mae appears to have spoken too soon when it said a credit reporting issue that impacted about 1 million student loan borrowers had been resolved. Yes, they fixed the problem that made it look like students were deadbeats. But some borrowers are now reporting that in doing so, it replaced one problem with another, making it look like borrowers have twice as much debt.

A church in Washington prays for gas prices to go down and nothing happens. A church in Georgia decides to take action and raffle off $500 gas cards to those who attend services.

Credit cards are a normal part of day-to-day life, though from time to time, they result in wacky, bizarre and often comedic events. Here are seven of the most interesting and odd credit card stories seen in the news recently.

Sallie Mae last night resolved a coding error that caused around 1 million student loan borrowers to find that their FICO scores had suddenly plunged over one hundred points.

Nursefinders asked banking giant JPMorgan Chase to offer temporary staff a Chase payroll card that gets loaded with the day's salary as quickly as two hours after a time card is submitted.

Last month, I wrote about the new social network, Members Know, which American Express launched for its jet-setting cardholders. The company has recently launched another niche member Web site, Members Clubhouse, which targets AmEx-toting golf aficionados.

New rules would ban unfair and deceptive trade practices in credit card industry.

Make state lotteries offer savings programs and get children saving early to encourage thrift ethic, report says.

As gas and food prices spike in this unstable economy, credit card debt is also on the rise. Those who accumulate debt they cannot pay off face consequences such as harassing calls from debt collectors and even home foreclosure. Think that sounds bad? If you lived in the United States or United Kingdom in the 1700s and 1800s, you would have been thrown in prison for reneging on your payments. Should debtors' prisons make a comeback?

Credit card spending is up on necessities, sometimes because people have no other option, and sometimes because it's just so convenient nowadays to reach for the plastic.

The first of a series of posts showing why it's hard to stop credit card and identity theft cybercrimes. Part one tells the story of a wildly successful international credit card fraud ring and its flamboyant alleged leader.

Credit cardholders are apparently charge-happy once more: After a slowdown in February, credit card activity ramped up in March.

Just another reason to continue the shift from cash and coins to plastic: Some coins now cost more to produce than what they are actually worth.
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