Credit, Debit Card Scam Scares Consumers
Some people have found themselves low on funds this holiday season because of a debit and credit card scam.
The scam is showing up in Volusia County and is now a federal investigation, WESH 2 News reported.
“I hope they find the bad guys and that they make them pay,” Henry Waters, a fraud victim, said. Read more
Credit Card’s Dirty Little Secrets
Do you know about credit cards and their dirty little secrets? I make my living knowing about them and I was unable to answer all the questions at a great quiz from the PBS Frontline program Secret History of The Credit Card at Credit Card Quiz. Take the quiz and see how much you do or don’t know about universal default, and other credit card issues. Then read this article for more dirty little secrets this great PBS special offered. Here are a few apetizers: Read more
Capital One Credit Card Users Beware
In an article posted on MSN.com today, it warns all those with less than average credit to watch out for the Capital One credit card ring.? Corporate giant Capital One, issues credit cards to people with weak credit history with a low spending limit.? When you get behind in payments, they’ll offer you another credit card.? In return, Capital One makes big gains on those whom exceed that limit with a $35 over the limit fee and late fees.? Most of Capital Ones income is derived from late fees and over the limit fees.? That’s why they won’t issue you one card with more room to spend.
Desperate Credit Card Thieves New Tactics
Two credit card theives are currently on the loose.? In Polk County, Florida, two women targeting housing developments walked into a KB Home office not to buy that new home but to steal realtors credit cards.? The women asked to see homes and while the office is empty and third person search for the goodies.? ? more on that story at WESH2’s website
Low Interest Credit Cards – Scam Or Benefit?
Low, as low as zero, interest on a credit card sounds attractive. Who wouldn’t want to borrow money and pay it back at leisure with no ‘penalty’? But what sounds like honey can often be laced with bee droppings.
For those with excellent credit it is indeed possible to obtain a card with a comparatively low interest rate. Rates as low as 5% are still possible, though likely not for long. (9%-15% is more common, which is still good for credit card debt.)
For those with less than stellar credit, a low interest rate offer is more likely going to be one with hidden clauses.
Look for caps on amounts charged or transferred. Some offers allow the low rate only on transferred amounts. Other contracts specify limited periods. (6-12 months is common, 15 months is possible.) After that time, the low interest rate automatically switches to the normal APR on any remaining balance.
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