Credit Card Gist

Wednesday, September 1st, 2010, 7:14 am

Credit Card Debt Hits 8 Year Low

Tags: credit card debt, credit card statistics, credit card use, videos

The amounts of money Americans owe on their credit cards dropped to its lowest level in nearly a decade. But is it necessarily a sign that people are paying off more or the economy is turning around?

The most recent numbers show that the average amount of credit card debt has dropped below $5,000, down 13 percent from the same period a year ago, and the lowest since 2002. Credit.com’s John Ulzheimer breaks down the statistics.

(Via YouTube.com)

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Monday, August 30th, 2010, 9:37 am

Tips on Avoiding Identity Theft

Tags: consumer advice, consumer protection, fraud prevention, identity theft, videos

Nearly 10 million people had their identities stolen in 2003. Credit card fraud remains the most common form of identity theft.

Here are some tips to protect yourself: make sure you don’t leave credit card mail in the mailbox, shred unwanted credit card applications, and guard your PIN numbers carefully.

(Via YouTube.com)

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Monday, August 30th, 2010, 9:35 am

Overdraft Protection Changes and Scam Alert

Tags: consumer advice, consumer protection, credit card information, credit card law, credit card scam, overdraft, videos

Travis Ford of the Missouri Department of Insurance gives some tips regarding changes to the laws on opting-in to overdraft protection for your credit card or ATM card accounts.

The most important thing you need to know is that overdraft protection applies only to ATM and debit cards. If you want the coverage, you would have to opt in for it. If you do nothing, you would not be enrolled in the program.

(Via YouTube.com)

Accept card payments quickly and safely

Accept online payments via credit and debit cards and electronic checks at the lowest processing costs. You will get:

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Friday, August 27th, 2010, 9:55 am

Credit Card Debt Drops to Lowest Level in 8 Years

Tags: credit card debt, credit card statistics, TransUnion, videos

More people are focused on paying down their consumer debt. The AP reports that the amount that consumers owed on credit cards in the second quarter “dropped to the lowest level in more than 8 years,” as consumers continue to pay off balances in this uncertain economy.

According to figures provided by TransUnion, the average combined debt for bank-issued credit cards dropped to just under $4,951 in the three months ended June 30 – that’s down more than 13 percent from $5,719 in the same period a year ago.

(Via YouTube.com)

Accept card payments quickly and safely

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Friday, August 27th, 2010, 9:49 am

Big Changes Coming to Your Credit and Debit Cards

Tags: consumer protection, credit card fees, credit card interest rates, credit card law, inactivity fees, minimum monthly payments, penalty fees, videos

Big changes are coming to your debit and credit cards this month. For the most part, these changes are aimed to protect consumers from unreasonable fees.

Penalty fees are now capped at $25, while late fees cannot exceed the minimum payment amount. Banks can no longer charge inactivity fees and are required to re-evaluate interest rate increases every six months.