Posts Tagged With 'Credit Card'

Many Chicago Consumers Living in Denial about Out of Control Credit Card Debt

Posted by Gregory Young at Feb 03, 2012 | No Comments »

Most Americans admit to being worried about the credit card debt crisis. But when it comes to admitting a personal debt problem, few seem willing to fess up.

Nine out of 10 people polled in a Bankrate.com survey said that debt was not a source of friction in their lives. Yet statistics show that the average U.S. consumer owed approximately $4,200 in 2011. Something isn’t adding up.

Time and time again, Chicago bankruptcy attorneys have seen clients fall deeper into debt because they are in denial that they need help. Had they taken action earlier – by filing for Chicago bankruptcy, for instance – they may have been able to stop foreclosure or make eliminating debt much simpler.

Many times it’s easy to accept that a friend or neighbor is in debt – but hard to come to terms with the fact that you have a problem. There’s also the shame factor.

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Tags: Card Debt Credit Card Credit Card Debt Debt

United States has Largest Incidence of Credit Card Fraud for 2010

Posted by Gregory Young at Jan 21, 2012 | No Comments »

Consumers beware; the United States officially has the highest rate of credit card fraud in the world — a staggering 47 percent of all cases occurred in the United States.

In 2010, 3.56 billion in payment card fraud losses reported in the United States alone, with another 4.04 billion lost world wide, up more than 10 percent from 2009. The United States counts for 27 percent of the worldwide purchases, but nearly half of all credit card fraud activity, which is explained by the fact that the United States have been last on board with new security measures that have gained popularity in the rest of the world.

Credit fraud can leave a huge mark on one’s credit report and getting the credit bureaus to remove the information can be a hassle, so it’s best to avoid fraud at all costs by frequently checking credit and bank accounts online and freezing a card once fraud is suspected.

Monitoring alone will not prevent fraud, only put it to a halt. To pr

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Tags: 2010 Card Fraud Credit Card Credit Card Fraud

Using a Credit Card to Build your Credit Score

Posted by admin at Dec 09, 2011 | No Comments »

Having a good credit score is important for all sorts of things, so it is vital that you take steps to improve your score as much as possible. Using a credit card is a good way of doing this and with options available – such as an interest free credit card – you can also improve your management of your personal finances at the same time. This article looks at how your credit card can help you build your credit score.

One of the main ways it does this is by giving you a chance to prove you can manage your money responsibly. If you are approved for a credit card then you will be given a credit limit, which you are not allowed to exceed each month. You Read more…

Tags: Credit Card

3 Tips on Buying a Car on Credit

Posted by admin at Sep 05, 2011 | 1 Comment »

Buying a car on credit can be a great way to get a quality car even if you don’t have the cash available. Follow the tips below and get the car of your dreams without leaving you penniless.

1. Choose the right type of credit

If you are looking to buy a new car then there are very few credit card providers that will offer a credit limit of £15,000+. So, in the case of a new car it makes more sense to apply for dedicated car finance. Thankfully a lot of car dealers now offer 0% finance if you can provide a deposit (and there’s no reason why you can’t put this on a 0% interest credit card).

Used cars on the other hand can often be bought outright with the aid of a suitable credit card. The best credit card deal for this will offer either a 15 or 18 month interest free period on all purchases i.e. you do Read more…

Tags: Credit Card

New Study: Consumers Are Paying Down Their Credit Card Balances

Posted by Anthony Jackson at Jul 26, 2011 | No Comments »

Contrary to popular belief, the recent trend of lower credit card balances is a product of consumers paying down their balances, not charge-offs by creditors. This is according to a TransUnion study that found that consumers spent $72 billion more on their credit card balances than on new purchases between the first quarter of 2009 and the first quarter of 2010.

Let’s put this in perspective for the average credit card holder. The $72 billion reduction amounted to a drop from $5,776 to $5,165 for the average person. This amounts to $611, which is approximately 10.5 percent of their total balance. This number dropped again in the first quarter of 2011 in which it stood at $4,679 – an amount that is $1,097 (about 19 percent) less than it was 2 years earlier. It is important to note that this study was based on conservative assumptions. Had

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Tags: Balances Card Balances Credit Card Credit Card Balances

Your Legal Rights as a Credit Card Holder

Posted by Anthony Jackson at Jul 15, 2011 | No Comments »

The federal government has set up a number of laws that are designed to protect the rights of credit card holders. Unfortunately, though, many consumers are unaware of these laws or their rights under the laws.

Here is a list of the laws through which the federal government protects credit card holders and consumers:

  • The Fair Credit Billing Act – The Fair Credit Billing Act, which protects most cardholders, is a law that protects you from inaccurate or unauthorized charges on your credit card statement. Through the Fair Credit Billing Act, most consumers are responsible for just the first $50 of unauthorized charges. In addition, this Act protects consumers from paying for merchandise that never arrived; for any goods that were not what was promised; and double charges for goods or services.

  • The Fair Credit Reporting Act – The Fair Credit Reporting Act, which was amended by the Fair and Accurate Credit Transactions Act of 2003, protects you from inaccurate or incorrect information found on your credit report. Wit

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Tags: Card Holder Credit Card Credit Card Holder Holder

How To Use a Square Credit Card Reader With Your Small Business

Posted by Anthony Jackson at Jul 08, 2011 | No Comments »

Square is a pretty cool device that allows you to accept credit card purchases by using your phone. It’s a very simple way to get a small business started that allows your customers to pay with their credit cards and doesn’t require you to buy a bulky card reader. You just order the free device and when you get it in the mail you can start accepting credit card payments.

One of the best features for many small businesses is Square’s fee. Depending on the industry you’re in and the type of card you swipe, you may or may not save money with the fee, but you will get one thing: simplicity. Simplicity is good when you’re running your own business, or even just want a way to pay your kids their allowance without running to the ATM. No monthly fees, no different charges depending on whether your customer is using Visa or American Express, just a flat 2.75% fee for each transaction.

How To Get The Device

Getting the device is pretty simple. Go to www

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Tags: Business Credit Card Small Business

Donating Credit Card Rewards to Charity?

Posted by Anthony Jackson at Jun 28, 2011 | No Comments »

Q: One of my friends told me she donated her credit card rewards to a charity, which I think is a great idea. How do I know if my credit card company offers this?

A: Most rewards credit cards offer an option to donate your points or miles to charity. It’s win-win: the credit card company gets to look good and their customers get to feel like they are doing a bit of good in the world. Whichever rewards card you have, you can probably find an option to donate to a worthy cause.

Citi has a rewards section devoted to donating to charity. Right now it only has two rewards options, donating to the Red Cross or receiving a Giftback card, which allows you to donate to many different charities.

Discover also has an option for donating your rewards to a charity. T

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Tags: Card Rewards Charity Credit Card Credit Card Rewards

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