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Posted on Tuesday, 31st August 2010 by Timothy Bell

Credit card companies are tricking consumers with unsatisfactory solicitations, Senator Charles Schumer (D-NY) explained in a letter sent to the Federal Reserve on Wednesday. In his letter, he revealed that the number of professional and business credit cards sent to consumers skyrocketed in the first quarter because they don’t have to same protections as personal cards.

Are Credit Card Issuers Trying to Bypass the Law?

Despite the many changes that have occurred as a result of the Credit CARD Act, card issuers have apparently been determined to find ways to lure in customers while avoiding all of the rules they’re meant to abide by.

Since many of the guidelines listed in the act don’t apply to business credit cards, companies have opted to distribute new and exciting business and professional credit card offers to non-business consumers, rather than focusing on personal cards.

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Posted on Tuesday, 31st August 2010 by Sarah Sullivan

Listen up jet-setters; hyperWALLET has got your back. You can now use your prepaid card all around the globe now the global payment solutions Company has expanded its integrated global prepaid card products to reach over 40 countries. Providing you flexible program management and customer self-service in 14 currencies and languages via online, mobile and voice response channels. Cutting beneficiary and program costs when compared to dollar-denominated prepaid cards that are issued by a U.S. bank and utilized by a foreign beneficiary, the globalization of the program does not subject locally-issued card products to foreign exchange levies (often in excess of 5%) nor do they attract high “foreign” ATM withdrawal fees.

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Posted on Saturday, 28th August 2010 by Rebecca Ortiz

Balance transfers are perhaps the easiest way to consolidate credit card debt and pay off multiple balances simultaneously. By consolidating the debt to a credit card with a low interest rate, the cardholder can effectively reduce the total amount of debt that needs to be repaid in the long term.

In fact, if a credit card with a zero APR introductory period is used as the main balance transfer card, then it is possible to completely eliminate interest and pay the balance off with no interest charged.

Unfortunately, there are occasions when balance transfer cards are used incorrectly, causing even more debt rather than reducing it.

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Posted on Friday, 27th August 2010 by Timothy Bell

This is a guest post from Mr. Credit Card of www.askmrcreditcard.com.

Credit cards are seen as an essential method of payment for the majority of Americans. Unfortunately, credit cards are not for everybody. There are two groups of people who do not possess a credit card, but probably should some day. The big question is: When do you know when you are ready for a credit card? Let’s take a look.

Credit Cards and Young Adults

As teenagers mature into young adults, managing their finances responsibly is a major achievement. Ideally, the process of understanding money and credit cards should begin at a very young age.

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Posted on Friday, 27th August 2010 by Sarah Sullivan

Australian credit card customers may soon be able to use their plastic to pay their tax bills, it has been claimed.

Following a successful trial last year the Australian Tax Office (ATO) is looking for a payments provider to make the service a reality, ZDnet.com.au reported.

According to the news provider the trial was conducted after the ATO noted a marked rise in the number of phone and internet transactions it was carrying out.

Figures show that telephone and web transactions have increased by around one million each year since 2007.

An official credit payment service is expected to be up and running by April 2011 following the success of the ATO’s 18-month trial.

Despite not being advertised by the organisation, thousands of customers were transferred to credit payments, including 9,024 in March alone.

The ATO conducted 9.4 million transactions via phone and internet in the 12 months to June 2010.
 

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