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Emily Starbuck GersonI'm the editorial assistant at CreditCards.com, and no, I don't like coffee (it's a family name). Upon finishing college, I was horrified to learn how little my friends and I knew about credit and personal finance. It seems our dear parents forgot to mention a few things, so I have made it my mission to help those in the dark understand the ins and outs of credit, debt, identity theft and other vital issues...
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.
My co-workers and I share our most impulsive and wacky credit card purchases.
This was an exciting week in the personal finance world: Another rate cut, Fed approval of rules to end unfair credit card practices and an announcement that the stimulus checks are out early. Accordingly, I have found great questions, advice and thoughts in the personal finance blogosphere. Here is this week's round-up, including topics such as personal debt being sold on eBay, why credit cards are handy for paying bills and a scam from 1800-Flowers.
Now that May is here, it's time to begin planning for Mother's Day (it's the 11th). Struggling to come up with gift ideas besides flowers and jewelry? How about a faux credit card that she can redeem for hugs and kisses?
PCI standards exist to keep credit card transactions and data safe. While some merchants are not yet PCI compliant, it turns out that even those who are may not have enough safeguards to ward off data breaches. Many retailers are beginning to go above and beyond the industry standards to further protect their customers' data.
It's no secret that identity theft is becoming an increasingly common crime. What's changing the game, however, his how people are committing the crimes. Criminals are constantly developing new schemes, and it's important to stay aware of them to prevent becoming a victim. Here are two recent identity theft crimes worth highlighting.
Presenting this week's top 10 credit card blog posts.
Love wins over money most of the time, but con men are more frequently using online dating to find victims. Here's some of the latest news in love and money.
Traveling to Paris but not sure where to wine and dine? Want to book a trip to Fiji but have no idea which resort is the swankiest? Clueless about what activities to do in Rio de Janeiro? American Express has recently created a social networking community, Members Know, where cardholders can both ask for and provide such travel advice to each other.
While America is on course to be a land of plastic-only transactions, Great Britain is seeing an increase in cash use. This is likely due to fraud outbreaks, climbing credit card debt and a housing crisis not much different from our own.
The only form of plastic Discover Financial Services has issued since its beginnings in 1986 is credit cards. After recently signing an agreement with PULSE, an ATM/debit network owned by Discover, and seven other financial institutions, the company will now issue debit cards as well.
A new survey from AARP reveals that more than half of American adults have made investment mistakes due to confusion by financial jargon. Another recent survey showed teens lack financial literacy. It’s not surprising that young people still have a lot to learn, but it appears that adults aren’t much better off.
Last week, I posted my top seven favorite credit card posts from the blogosphere. It got a great response, so I've decided to do a weekly round-up in the same format. Here are nine of the best I found this week.
Between the credit crunch and the prevalence of identity theft, credit cards are frequently in the news. From time to time, however, credit cards result in unexpected and often funny news. Below are five of the wackiest recent credit card stories to hit the press.
My post about how presidential candidates have bad credit is featured in the 148th edition of the Carnival of Personal Finance, hosted by Gather Little by Little. Also, several other posts included in the carnival that I think are worth a read.
Credit card customer service representatives are there to help you, but they're also there to sell you on extra products and services that you don't really need. Learn to recognize when you're being pushed by a salesman, and say no until you've done your research.
You've probably seen a redbox, that large DVD rental machine, at your local McDonalds or Wal-Mart. Perhaps you regularly rent movies from one of the 7,400 machines across the country. An American Banker newsletter just put word out that the redbox company has fallen victim to a skim scam. Because of this, some redbox customers may find themselves identity theft victims.
The personal finance blogosphere is bursting with excellent and useful information. I've culled seven of the best credit-related posts from the last week or so and present them below for your reading pleasure.
It's bad enough when someone steals your credit card number and buys a big screen TV or applies for additional credit cards. What's worse is when someone commits crime in your name -- especially when it involves child pornography. BBC reports that Simon Bunce, a British man with a six-figure salary and respectable home life, was falsely branded a pedophile after his credit card information was stolen.
Today Discover Financial Services announced that it will acquire the Diners Club International network from Citigroup for $165 million. Upon required regulatory approvals and conditions, the acquisition should close within three months.
I heard a great feature on National Public Radio on the way to work the other morning discussing the financial situations of the presidential candidates. "As a group, presidential candidates don't have the best credit rating," Peter Overby said.
TransUnion just released its quarterly credit card analysis for the final three months of 2007, and the findings aren't encouraging. Credit card debt and delinquency have both risen, which the credit bureau attributes this to local cost of living and regional economic effects (namely, the mortgage meltdown).
It used to be that credit cards were drab, outfitted in lackluster, monotone backgrounds. They've never been anything to brag about…until now. The age of personalized credit cards has dawned, and you can now customize your plastic with a monogram, a family portrait or even your dog's cute little face.
Do you know what your credit score is but aren't sure how it's calculated? Are you about to get married but don't know how to merge your credit? On a new Web site created by a former Fair Isaac Corp. VP, these questions and more are answered through free and simple instructional videos.
There is an online community for those who are trying to better their financial situation: Debtsy.com, a new Web site I read about on WalletPop. "Debtsy is a place where you can connect with others as you eliminate debt and build wealth," the site's tagline says.
A few months ago I wrote an article about the crackdown on online gambling, and the burden being placed on credit card issuers to police illegal transactions. Now, some are hoping credit card companies will do the same for online prescription drug purchases.
The United Kingdom has instituted a new program using biometric technology in identity cards as a means of fighting illegal immigration, terrorism, benefits fraud and identity theft. Imagine if this type of technology was used for credit cards.
I talked to lawyers. Bar associations. Credit counselors. State attorney general offices. I was given different answers, wrong answers, no answers and mixed messages. After several excruciating days of research on when credit card debt expires in each state, I realized if the experts couldn't get it straight, and I, as a reporter, had such a difficult time finding the information, consumers didn't stand a chance.
This week, four of my posts made it into three carnivals: the Carnival of Personal Finance, the Carnival of Debt Reduction and the Festival of Frugality. Check them out!
Watch out, credit card users: A new scam has been reported. It's not uncommon for unusual charges to appear on one's credit statement -- identity theft happens all the time. What's not common is for many people to have the same mysterious charge.
Today I had a fascinating phone conversation with Donna D., a leader in my local chapter of Debtors Anonymous, a 12-step program patterned after Alcoholics Anonymous. She gave me insight on the psychological and spiritual side of debt, which I'd never taken into consideration before. She shared with me her personal struggle with debt and how the group has helped her and other compulsive debtors remain solvent. Here are some snippets from our conversation.
Today I picked up a new trick that helps trim both the waistline and credit card bill, and I think it’s worth sharing.
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They're the pieces of plastic we love, and love to hate. Get the latest news, tips, research and more from the CreditCards.com staff.
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