CREDIT CARD HOLDERS FURIOUS OVER ‘RATE JACKING’

It arrived in Rich Stevens’ mailbox a few weeks ago: the notice that Citibank had “rate-jacked” the Visa cards belonging to him and his wife.

“In my case, from 9.5 percent to 16.99,” the 54-year-old nurse from the Long Island hamlet of Merrick, New York, stated. And his wife’s rate zoomed from 7.95 percent to 16.99 percent, he said.

Stevens said he did not know why the rates had soared; his credit rating is great.

But, like thousands of other credit card customers around the nation, he has been notified his rate is skyrocketing.

“It almost borders on loan-sharking, from my perspective,” he said.

In the blogosphere, writers are livid at the instant rate hikes — called “rate-jacking.”

Credit Card Data Encryption

Credit card data encryption is one of the basics of PCI DSS compliance. Consumers need to know they can trust you. And the time will come when credit card data encryption will be one of the standards they use to measure your worth.

Credit card data encryption is one of the basics of PCI DSS compliance. In recent years more and more attention has been directed at the need for increased data security. The general gist of the PCI DSS seems to indicate that merchants should only keep the bare minimum of data on their system In other words, only the information specifically required for business, legal, or other such needs should be kept on an internal system. And all that information must be encrypted. And yet studies have shown that many companies are failing to implement proper credit card data encryption measures. Why is this?

It could be due to the costs and confusion associated with credit card data encryption. Proper encryption can require greater resources than normal, including processing, bandwidth, and personnel resources. When companies start calculating the costs associated with these new security measures, many of them seem to think it’s worth a little risk in order to save the money and resources. After all, they might say, sure some companies have been targeted and breached. But really, do that many companies have a problem. Surely, out of all the companies in the world, a hacker wouldn’t target me.

The unfortunate truth, however, is that hackers will, in fact, target anyone. And while many businesses have trouble spending resources to fend off a possible problem, that is exactly what the PCI DSS requires you to do. Requirement three of the PCI DSS requires you to “Protect stored cardholder data.” Credit card data encryption is critical to this requirement. The idea here is that anyone who happens to bypass any or all of your other security measures will find only a series of illegible gibberish. The only way a criminal can make use of these numbers is if they get a hold of the encryption keys as well.

Credit Card Offers

ew things are consistent in life. The alarm clock doesn't always go off when it's set. The Patriots ruin a perfect season by choking in the Super Bowl. A bright and sunny Saturday can turn to thunderstorms in the blink of an eye.

As far as I can tell, I can guarantee only two things:

• If I am wearing white to dinner, something with spaghetti sauce will be served.
• At least three times a week I will find a credit card offer in my mailbox.

Wearing white will never stop me from eating spaghetti, but I can help eliminate the seemingly endless stream of credit card offers.

Receiving these offers makes you a target for identity theft. To prevent your information from falling into the wrong hands, you should "opt out" of pre-approved offers.

• Call 1-888-5-OUTPUT (1-888-567-8688)
• Register online at: https://www.optoutprescreen.com/?rf=t

You can opt out for five years or permanently.

Eliminating these offers helps protect your identity and is also eco-friendly. You're saving paper and creating less waste. It is reported that mygeneration is in an endless cycle of post-graduation credit card debt—so the fewer offers you get, the less temptation you have to add another card to that bulging wallet.

Bad Credit? Offering Guaranteed Approval on Secured Credit Cards

We offer secured credit cards with guaranteed approval even with bad credit. Visa, Bank of America, Capital One, Discover, MasterCard and Chase available. Best Low Interest Credit Cards! 

Red Credit Card Debt Trap Clipart Illustration

Royalty-free financial clipart picture of a red credit card with a silver mouse trap attached, conceptualizing a trick, such as high interest rates, APRs, hidden fees... Please note - the preview image above is a low-resolution preview. Final image quality is much higher and watermark-free. The high resolution version can be used for both personal and commercial projects after you order the royalty-free license.

Standard Chartered launches Golf Affinity Gold MasterCard Credit Card in UAE

Standard Chartered Bank, one of the UAE’s leading international banks and a platinum sponsor of this weekend’s inaugural Abu Dhabi Golf Championship, has launched a commemorative Golf Gold Credit Card to mark the event.

Holders of the Golf Affinity Gold MasterCard Credit Card will receive a host of lifestyle privileges centred around the sport like: Green Fee vouchers, exclusive invites to golf events and tournaments in the UAE, complimentary golf tuitions, all year round discounts on Golf merchandise and accessories, special golfer’s insurance packages, customised golf holidays and much more.

“The UAE is emerging as a top golfing destination which is signified by the huge public and private sector investment in facilities throughout the Emirates,” said Ray Ferguson, Chief Executive UAE, Standard Chartered Bank. “With an increasing indigenous golfing base of around 7,000 people now playing golf in the UAE, entry into this thriving sporting sector makes keen business sense.”

Standard Chartered’s support sponsorship of the first Abu Dhabi Golf Championship is in line with the Bank’s increasing focus on the UAE capital for which it recently appointed a dedicated CEO.

“The popularity of Golf is growing in this country by the day. The Golf Affinity Gold MasterCard Credit Card not only celebrates this important tournament but gives the Bank first mover advantage among an influential customer base. This is in line with our strategy to own the sports affinity segment in the UAE with customized affinity credit cards and fulfil the segment opportunity” said Owen Belman, Head of Consumer Banking, Standard Chartered Bank.

The Golf Affinity Gold Credit Card, which brings with it a host of holder benefits, will come in two variants – with the first, available until February 28, being a limited edition and bearing the Abu Dhabi Golf Championship logo and the second being a generic Golf Affinity Card.

See other recent news regarding: Credit Cards, Abu Dhabi,MasterCard, Golf

The University of Missouri-St. Louis Alumni Association World Points MasterCard Credit Card: The Most Rewarding Card of AllSM

You don’t need another credit card... you need a better one.

WorldPoints® rewards is a credit card rewards program that absolutely puts you first. And, it is available with the University of Missouri-St. Louis Alumni Association Platinum Plus® MasterCard® credit card.

Choose the rewards that are right for you, including cash, travel, brand name merchandise, and gift certificates. Earn 1 point for every dollar you spend in net retail purchases.  It's that easy.  

Learn more about exclusive WorldPoints benefits and services from Bank of America . 

For information about rates, fees, other costs, and benefits associated with the use of this credit card click here and refer to the disclosures that accompany the online credit card application. This credit card program is issued and administered by FIA Card Services, N.A. 

Truth About Credit

Over half of Americans carry total credit card debt averaging $10,000 each and totaling over $800 billion. On April 24, the Government Accounting Office (GAO) released a report finding that more than half of consumers who carry credit card debt want customized disclosures on their monthly bills explaining how many years it will take to pay off the card if only the requested minimum payment is made. Sen. Daniel Akaka (Hawaii) has introduced legislation to make this disclosure law. More: PIRG expert on NBC Nightly News (Video and print story).

Most Likely Site of Credit Card Theft: Restaurants

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!

Even though you'd think it would happen when the waitstaff takes your credit card out of your sight, that's not when it happens. It's not even the local staff stealing your digits and going on a shopping spree, either. 

Joe the Debtor? Miller Owes Tens of Thousands in Credit Card Debt.

Joe Miller – Fiscal conservative, budget balancer, not liverer beyond his means…. and… (wait for it)… buried under mounds of credit card debt, and running a campaign more than $100,000 beyond his means?

Apparently so. Miller, who was supposed to have filed his financial disclosure paperwork for his run for Senate back in April, has finally gotten around to it. No wonder he wasn’t in any hurry. It’s an interesting disclosure.

Student Credit Card Debt

In the current economic climate, many people use credit cards to pay bills and cover needs like food and gasoline. These jobs are piled thousands of emerging market debt and high interest rates. But it would be worse if they had used their credit cards. However, excessive use of people just credit cards, because they are aware of the consequences, these people tend to be students. The card companies, credit unions have traditionally guided the students and the low introductory rate of advertisements promoting the expense. Unfortunately, some students go to the sea and find themselves in debt.

What are these students spend money? Most say they are free of elements necessary for their education. The unifying theme is probably more expensive than most students is free. Some cost up to $ 200 or more. If a student takes five classes, he or she should simply charge $ 1,000 in the first days of school. Students purchasing research online to know that they have used books at a much lower price, and there are Web sites for rent textbooks, which offer even greater savings. Students can collect backpacks and things like music player. You need something to carry your books and music, which is a statement of intense stress, but probably spend a few students on the purchase of these items. Use a credit card makes it easier to additional costs, especially if the student is already several hundred dollars. One might think that the game of the burden of another $ 50 or $ 100 does nothing, but it works. Students are also more and sneakers in a more reckless and jeans, and it is they who have a balance of $ 7000.

The average age of traditional students is more than $ 3,000 on credit cards, but some students are up to $ 7,000 or even U.S. $ 10,000, and these figures do not take account of student debt. Half of the students have up to four separate credit cards. Your monthly credit on each card about $ 400. A quarter of all students have more than one late fee and a smaller amount has been paid an “over limit fees. Many students pay their balance sheets as quickly as possible, but they have the highest rates since, after the introductory rate expires.

Credit Cards

New advice has been offered on how best to survive the recession in the early part of 2009, with one tip being to consider transferring your credit card balance.
Commitments made recently by companies in the credit card sector will help families manage their finances better, it has been stated.
Film director and producer Michael Winner has a long history with American Express credit cards, he has explained.

WHAT IS A CREDIT CARD

A credit card system is a type of retail transaction settlement and credit system, named after the small plastic card issued to users of the system. A credit card is different from a debit card in that the credit card issuer lends the consumer....rather than having the money removed from an account. It is also different from a charge card (though this name is sometimes used by the public to describe credit cards) in that charge cards require that the balance be paid in full each month. In contrast, a credit card allows the consumer to 'revolve' their balance, at the cost of having interest charged. Most credit cards are the same shape and size, as specified by the ISO 7810 standard.

money in their hands

Many individuals who make a commitment to get out of debtwant to do so without harming their credit in the process. This isn’t impossible, but having a general idea of how credit scores are calculated can help. The following are three simple tips to eliminate debt without hurting credit.

1 – Continue to make payments on all debts: The best thing you can do for your credit is to make payments on time. When you’re trying to eliminate debt, it can be tempting to concentrate on one debt at a time and let the others fall to the wayside. To avoid hurting your credit, however, you need to make at least the minimum payment on all debts in addition to applying extra payments to one debt (often the one with the highest interest rate).

The Original and Patented

The convenience and security of flashID - in your wallet or purse!

The flashID Card is the same size as a normal driver's licence or credit card (though a little thicker) and fits neatly in your purse or wallet. Whether you place it upside-down or back-to-front, it is still clearly recognisable as a flashID device.

Pictures show (from left) front of card when USB key closed, back of card with USB key closed, a typical credit card to the same scale and the flashID Card with the USB key exposed. Click on any image for a larger view.

Key Benefits

• Same size as a normal driver's licence or credit card (though a little thicker).
   
• Fits neatly in your purse or wallet.
   
• Supplied with protective plastic sleeve.
   
• Whether upside-down or back-to-front, it is still clearly recognisable as flashID.

Specification

Chipset:        Samsung 512Mb
Utility:            Shock resistant NAND flash memory
Approvals:    CE, FCC, C-Tick (Australia & New Zealand)
Warranty:      One year replacement warranty
Packing:        Each unit individually packed in plastic blister

Warranty

All flashID products are covered by a one year replacement warranty

Limits on Credit Cards for College Students

It will now be a little harder for credit card companies to target college students. New limitations due to the Credit CARD (Card Accountability Responsibility and Disclosure) Act of 2009 will come into effect across colleges on Monday.

The law, signed by President Obama in May, came about because of consumer worries about the level of credit card debt college students assume. The average student gets 25 to 50 credit card offers a semester and graduates with$3,173 worth of credit card debt.

credit card

Applying for your first credit card can be a bit difficult, since credit card companies determine how creditworthy you are by how well you have handled credit in the past. You can’t show that you have handled credit well because you don’t have any credit history, and if no one will give you credit, you can’t show them that you are a responsible person who pays on time.

It may take a bit of time, but there are some steps you can take to show credit card providers that you would be a good customer. Here are some suggestions that should help:

credit card

An indispensable part of today’s life is a credit card. Unfortunately, if you cancel your American Express credit card like I did, it means you cannot have access to certain services you may have taken for granted. Just ordering some clothes over the internet wasn’t possible and how basic is that in today’s world. The old days of cash as the preferred method of doing obtaining goods have gone.

All across the country and the world, people are using their Visa, Mastercard card, or American Express credit card to make purchases with money that they do not have of goods which they may not need. Although American Express credit cards are a really convenient way to make a purchase – get it now and worry about it tomorrow – it does come at a heavy cost. In some places, credit card debt is spiraling out of control. Today, credit card debt is one of the biggest worries facing us in America.

I couldn’t think of any other alternative but to get rid of my American Express credit card. There was nothing to stop me because I wasn’t actually taking money from my pocket. I was using my card for just about everything, but I soon noticed the debts were mounting. When the debt became so great that I couldn’t possibly pay it, I began to panic.

Archive for the 'Credit Ratings and Reports' Category

The number of people declared insolvent in England and Wales reached a record high in the third quarter of 2009, according to figures from the Insolvency Service.

There were 35,242 personal insolvencies, a increase of 28% on the same period last year, and a 6% rise on the previous quarter.

However, businesses fared better over the period, with 4,716 company liquidations, a 4.7% quarter-on-quarter fall. However, the number of businesses going bust between July and September was still 14.6% higher than the same period a year ago.