Consumer Credit

I never knew what to choose when stores ask me "debit" or "credit." I always say "whatever is better for you." And sometimes the clerk says they don't care. Maybe they don't even understand how it works. At least now I do!  

Financial Times is reporting that 30 Million German debit and credit cards have left customers unable to use them.  Looks like Y2K10 is responsible... A “Year 2010” software problem triggered by the change of decade has affected 30 million German debit and credit cards and left bank customers unable to make purchases or make cash withdrawals. But German banks appear to have been unprepared this month for the emergence of the fault, which...  

Prior to the 1970s, when banks started handing out credit cards, unsolicited, like candy, the average household had very little debt. Besides a mortgage and possibly a car loan, most families lived within their means. This meant saving up for luxuries. Retail department stores offered what were then called ‘charge cards’ to encourage consumer spending. [...]  

From the Miami Herald: Albert Gonzalez, the Miami cyberthief who admitted to carrying out the largest identity theft in the nation's history, pleaded guilty Tuesday in federal court to a second computer hacking case this year. Gonzalez, 28, admitted stealing...  

Zacks.com submits: Equifax Inc. (EFX), a global leader in information solutions, recently announced that it has entered into a joint venture agreement with Moneta, an online payment alternative to credit cards, whereby the latter will be utilizing the Equifax credit decisioning system for a new instant credit feature for Moneta’s online payment method. The online alternative payment gateway of Moneta currently offers an easy-to-use online...  

N.M. AG's Office reminds consumers about their rights when shopping with debit and credit cards Trying to decide whether to use a credit card or a debit card when doing you're doing your holiday shopping? Well, the Consumer Protection Division of the New Mexico Attorney General's . . .  

Origination of new home equity lines of credit (HELOC) accounts is down 36% from year-ago levels, Equifax (EFX: 31.375 +0.05%) said. There were 75,600 HELOC accounts originated in September 2009, down from 117,800 in September 2008, according to the Atlanta-based credit bureau’s most recent monthly credit trend report, derived from Equifax’s nearly 200m US consumer credit [...]  

ATLANTA, Dec. 1 /PRNewswire-FirstCall/ -- In an effort to empower consumers to improve their financial well-being, Equifax launched Equifax Debt Wise(TM), an innovative product that uses information from the Equifax Credit Report(TM) to enable consumers to create a plan for paying off their debt faster--without paying more in monthly payments than they already do! The average subscriber can save over $30,000 in interest and get out of debt 15...  

In an article published at CreditCards.com, they talk about the shift to Zero-Liability for PIN, Signature and CNP Debit purchases.  Debit surpassed credit usage and now, in an attempt to provide "equal footing" many banks now offer ZL for debit cards as well.  This is a necessary step if banks want to see continued growth with debit card usage, especially online.  Here's their story, published last month: Debit card users now more protected...  

More people than ever will buy their holiday presents this season with debit cards. But people are using debit and credit cards for much more than just gift purchases. Even Salvation Army bell ringers are accepting plastic this year.  

PETALING JAYA: Debit and petrol cards do not fall under the purview of the RM50 service tax imposed on credit or charge cards. The Association of Banks in Malaysia said other cards not included were c...  

Credit.com NewsPeople continue to struggle to pay off credit card debt as delinquencies and ...Credit.com NewsAnd as consumers find it more difficult to pay off their credit card debt, lenders are also making efforts to reduce their risk in a more difficult credit ...Moody’s: Credit Card Defaults To Trend Up in 2010Credit Card Guide NewsCredit Card Write Offs and Delinquencies Rise in NovemberMy Bank Tracker Bank Newsall 3 news articles »  

HOUSTON (AP) — Continental Airlines Inc. said Monday that credit and debit cards will be accepted for purchases onboard most its aircraft starting Tuesday. Flight attendants will use new hand-held devices to process the card payments for purchases ...  

Continental Airlines (NYSE: CAL ) announced that its flight crews will begin accepting credit and debit cards exclusively for on-board purchases (except Duty-free) on Dec. 1, 2009, utilizing new hand-held devices that are more convenient for ...  

Paying for holiday gifts with debit cards? Whoa there... A survey by the National Retail Federation recently reported that consumers expect to rely more this holiday season on cash and debit or check cards, and less on credit cards.  Using cash is always a great way to control your spending. Debit cards are a reasonable cash substitute, especially when you need to buy very large items and...