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Posted on Tuesday, 15th June 2010 by Timothy Bell

On Tuesday, the Federal Reserve Board enacted additional consumer protections for credit card users in the ongoing game of legislative whack-a-mole. These new rules, which won’t go into effect until August 22, may bring some relief to perpetually bedraggled plastic swipers. But if we’ve learned anything from recent history, it’s that each push against credit card issuers nets a an equal or greater reaction from the industry. Let’s take a quick look at some of the bones that the Fed is throwing before looking into the crystal ball to see what overcompensating screw-over tactics the credit card industry will cook up next.

Late Fees and Penalties Capped at $25

Under the new rules, late fees and over-the-limit penalties cannot exceed $25. Further

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Tags: Credit Card, Rules
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Posted on Monday, 14th June 2010 by Heather Powell

Have a nagging credit-related question? Or know a thing or two about credit cards, credit scores, loans, and more that you want to share? Whether you have questions or wisdom, we invite you to Credit Karma’s newest tool, the Credit Advice Center, a forum for us to share our experiences and learn from other savvy credit consumers.

It works like this: at the Credit Advice Center, Credit Karma members can ask a question or share wisdom they’ve gained through their own financial experiences. The best answers are voted and ranked to the top. Plus, Credit Karma moderators are also active participants in the forum, sharing their guidance and expertise.

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Tags: Credit, Credit Advice
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Posted on Sunday, 13th June 2010 by Rebecca Ortiz

In today’s difficult economic times, having a good credit score is absolutely essential. With good credit it is relatively easy to secure loans for housing, vehicles, education and business investments. However, an individual with bad credit will find themselves in the position of paying cash for all of life’s luxuries, most of which they will never be able to afford. Unfortunately, many people don’t realize just how important it is to have a good credit score in today’s society.

Life’s Necessities

The greatest disadvantage of having bad credit is perhaps the difficulties that one faces when trying to provide the simplest necessities for their families. Surprisin

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Tags: Credit, Good Credit
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Posted on Sunday, 13th June 2010 by Sarah Sullivan

Beginning this fall, you can get 5% off at check-out every day when you use your “REDcard” at any Target store or on Target.com. This will replace the current Rewards program in which new account holders receive an initial 10%-off coupon and existing cardholders earn coupons for 10 percent off a future day of shopping, for which you will continue to earn points until the new program begins. Having piloted this new program since October 2009, Target has gotten overwhelmingly favorable feedback and is expected to increase the portion of Target’s sales made on Target credit and debit cards.

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Tags: Redcard
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Posted on Friday, 11th June 2010 by Timothy Bell

Americans traveling or living abroad are finding it increasingly difficult to use credit and debit cards overseas. Europe, Australia, Latin America and a large percentage of Asia, India, China, Mexico and Canada have accepted and implimented the more secure Chip-and-PIN system. While the U.S. continues to use less secure magstripe cards, credit cards using Chip-and-PIN will have a encrypted computer chip embedded in the card that contains the consumer’s personal identification information. W

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Tags: Difficult
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Posted on Thursday, 10th June 2010 by Rebecca Ortiz

While many people may want to try and make a positive contribution to helping with the oil spill in the Gulf of Mexico, others could use it as an opportunity to commit identity theft or other types of fraud.

The Federal Trade Commission recently sent out a warning to consumers telling them to be careful when contacted by people claiming they are collecting donations or offering assistance. Offers could come in a variety of forms, including phone calls, emails or even people going door to door.

“Chances are they’re trying to gain your trust to get inside your home or get access to your personal information,” the FTC said.

Consumers should be careful when clicking on websites from purported charities. T Read more…

Tags: Oil Spill, Spill
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Posted on Wednesday, 9th June 2010 by Sarah Sullivan

In a sign that balance transfer offers are back in full swing, US Bank has brought back the no fee balance transfer.

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Tags: Balance Transfer, Cards, Fee Balance, Fee Balance Transfer
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