Posts Tagged With 'Credit Card'

Unique Credit Card “Extras”

Posted by: John Freycinet  Posted date: May 30, 2011 in Credit Cards Articles
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There are many different unique credit card “extras” that you may not even know about! Major credit card companies have adopted and developed unique incentive programs to attract new cardholders and retain their valuable customers. Certain types of cards, called gold or platinum, will automatically provide valuable savings and protection programs for cardholders viewed as low-risk and high-volume charge clients. Cardholders in standard classifications will be offered many of these programs in exchange for the payment of an annual fee.

Credit fraud has become a multi-billion dollar annual risk to banks that issue credit cards in many countries around the world. Third-party providers have established entire businesses to protect the credit profiles of clients that also carry major credit cards. The banks have identified services that will protect cardholder credit and identification information and yield large profits at the same time.

  • Account Insurance – When the cardholder agrees to this type of insurance, the bank will cover the minimum monthly payments on any outstanding balance in the event of a disability. Some

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Tags: Card “extras” Credit Card Credit Card “extras” “extras”

Ask Creditnet: Corporate Credit Card in Collections

Posted by: Lola Thornton  Posted date: May 25, 2011 in Credit Cards Articles
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Dear Creditnet: I’m currently receiving collection notices from American Express for an unpaid balance on an old corporate credit card. I left the company where I had this card in late 2011.

I have combed through all my Amex bills, corporate expense reports and reimbursements, but I’ve been unable to find any unpaid charges on the card.

In addition, because the card was in my name and I incurred all the charges, my former employer takes no responsibility for the unpaid balance even though the charges were made solely for work purposes.

Will this affect my personal credit? What should I do now?

Answer: This is a difficult situation, but it’s not one that American Express is unaccustomed to handling. Believe me, these sorts of problems arise quite often with business credit cards.

Although it may seem a bit unfair, the contract you signed when you received the corporate credit card likely places the liability for any unpaid charges on you. That’

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Tags: Card Corporate Credit Corporate Credit Card Credit Card

Issuers not shy about sending out business credit card offers

Posted by: Matilda Sprent  Posted date: May 20, 2011 in Credit Cards Articles
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Credit card issuers sent out more than 2.6 billion business credit card offers to U.S. households between January 2006 and December 2010, according to recent report from the Pew Safe Credit Cards Project.

No, that is not a typo: 2.6 billion, or an average of nearly 44 million per month – enough envelopes to make a paper trail across the U.S. and back each month, Pew said.

The height in that 5-year range was December 2007, a month in which American households received 91 million business credit card solicitations, according to Pew.

In contrast, January 2006 represented the low point in that range, with 10.4 million business credit card offers sent via direct mail to consumer households in that month. In each of the four most recent months examined in the study – September through December 2010 – the monthly average hovered near 20 million solicitations.

Data showed that all household income levels and age groups received business credit card solicitations in the five years included in the study. Howev

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Tags: Card Offers Credit Card Credit Card Offers Offers

Should I Report Credit Card Fraud to the Police or FBI?

Posted by: Matilda Sprent  Posted date: May 14, 2011 in Credit Cards Articles
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Q: Who should I report credit card fraud to, the police or FBI?

A: You should report credit card fraud to your local police. You can either call the number or go in person to the police department. Don’t call 911; instead use the non-emergency number, which you can often find with a quick internet search. Some police departments will even let you fill out a police report on their website.

Reporting it to the police is good, but you should also report the fraud to your credit card company. Most cards have a number on the back that you can call 24/7. If yours doesn’t, you can find the number on the company’s website. It’s also a good idea to cancel your card or see if they will change your card number so that whoever stole your card number cannot continue to use it. Make sure you call as soon as you discover the fraudulent activity. If you wait too long, you may become responsible for the charges.

Hopefully, the fraud did not affect your credit report. If it d

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Tags: Card Fraud Credit Card Credit Card Fraud Fbi

Study: Late Fees Decline and Interest Rates Stabilize Due to Credit Card Act

Posted by: Lola Thornton  Posted date: May 10, 2011 in Credit Cards Articles
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A study released on Tuesday from the Pew Charitable Trusts says that credit card late payment fees have declined and interest rates have stabilized thanks to the credit card legislation. While the study notes that the changes occurred two years after the legislation was signed, this could mean the law has truly made an impact.

Credit Card Act Has Made a Difference

The study, which examined about 300 consumer credit cards offered via the internet by the 12 largest banks and credit unions from March 2010 to Jan. 2011, shows that a number of positive changes have occurred as a result of the Credit CARD Act.

One major change is that charges for late payments on U.S bank-issued cards decreased from a median of $39 to a range of $25 to $35. How

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Tags: Card Credit Card Interest Rates

Sony PlayStation data breach: Hackers claim they have 2.2 million credit card numbers

Posted by: John Freycinet  Posted date: May 01, 2011 in Credit Cards Articles
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The Sony PlayStation story keeps evolving.

In the three days since the company revealed that credit card data could be among the information hacked from its database of 77 million online gamers, there have been three new developments and items of interest:

News organizations that have sniffed around in hacker boards and chatrooms are reporting that lowlifes therein are offering credit card information they say they purloined from the PlayStation database. According to the (UK) Guardian’s technology blog, hackers claim they have 2.2 million Sony customers’ credit card numbers — including their security codes, which make it easy to use cards fraudulently.

If so, that would be Sony’s — and the consumers’ — worst nightmare. The newspaper stresses that these are unconfirmed reports, but adds that some PlayStation customers are reporting that they’ve seen unauthorized charges on their cards. Th

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Tags: Card Credit Card Sony Playstation

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