As an expert on the credit industry, John Ulzheimer spends his days thinking about credit cards, debit cards and credit scores. So imagine his surprise when he picked up lunch at a restaurant near his house in Atlanta, then later went on a beer run, and was directly confronted with the consumer fallout from the hot-button issue of the day in his profession: new fees for debit card purchases imposed by government regulations.
For comedian Dan Nainan, who has traveled to 10 countries already this year, trying to use his U.S. credit cards to buy train tickets in Hong Kong or rent a bike in Toronto was no laughing matter. Each time he swiped his card, the transaction could not be processed.
There’s a certain mystery about applying for a credit card: Is your credit score good enough for the best card and rate? Just how much credit might you get if you are approved? What does everyone else get?
from Business Traveller:
By Grace Nasri at FindTheBest
Any business traveller, or anyone for that matter, wants to have a credit card that offers the best perks, the lowest APR and no – or low – annual fees, yet nobody has the time to comb through the pages of fine print detailing the sometimes shocking terms of agreement.
With the downward plunge of the stock markets and the potential for interest-rate hikes following the downgrade of U.S. debt, consumers are understandably worried about their own interest-rates going up. But one bit of good news in all this volatility is that credit cards are somewhat insulated, for right now.
There’s an irony about the new credit score disclosure rules issued by the Federal Reserve Board on July 6, and this is it: Would-be borrowers who are most likely to get their credit scores for free are still the people who may find it advantageous to buy their scores.
Victims of data breaches are far more likely to become the victims of fraud than other consumers and credit card issuers need to do more to protect their customers, a new study from the firm Javelin Strategy & Research found.
ING Direct customers seem to love their online-only bank, and reports that it may soon be taken over by Capital One Financial Corp. have a few of them worried.