Interest rates on new credit card offers climbed to another record high this week, according to the CreditCards.com Weekly Credit Card Rate Report.
The average annual percentage rate (APR) on new credit card offers rose to 14.96% -- surpassing the previous record of 14.94%, where the rate had stood for the past two weeks.
It's the third week-to-week increase in the past month. It's also the fifth time in 2011 that rates have hit a record high. That's nothing new, however: In 2010, a record was set eight times. CreditCards.com has tracked rate changes since 2007.
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Monday, September 19, 2011
Wednesday, September 7, 2011
Federal Prosecutor Is Latest Credit Card Skimming Victim
ATM credit card skimming has gotten so pervasive that thieves managed to snag the digits of U.S. Attorney Jenny Durkan, a federal prosecutor, and lift $1,000 from her bank account.
"I, of all people, knew better," Durkan told KING5. She said she was in a rush and didn't check the machine like she usually does, even though she noticed before entering the bank that the door lock appeared to have been tampered with.
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"I, of all people, knew better," Durkan told KING5. She said she was in a rush and didn't check the machine like she usually does, even though she noticed before entering the bank that the door lock appeared to have been tampered with.
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Friday, September 2, 2011
Kirkwood police looking for credit card thief
Kirkwood, MO (KSDK) - The Kirkwood Police Department is looking for the person who stole credit cards from the locker room at the Westborough Country Club on South Berry Road.
Authorities say the theft happened August 23, and the cards were used the same day at the Target store on South Kirkwood Road, a restaurant in Creve Coeur, and at an electronics store. The purchases total over $4,900.
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Authorities say the theft happened August 23, and the cards were used the same day at the Target store on South Kirkwood Road, a restaurant in Creve Coeur, and at an electronics store. The purchases total over $4,900.
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Monday, August 22, 2011
Tips to figure out your credit cards
August 2, 2011 (WPVI) -- As you pull them out of your mailbox, credit-card offers can seem so enticing - 0% percent introductory interest rates, attractive cash-back options, and no annual fees. It may seem like the ideal time to get a new credit card.
But Consumer Reports says be aware that your credit score can take a temporary hit when you apply for new cards.
"You might not want to risk that if you're applying for a mortgage or other significant loan in the near future," says Chris Fichera of Consumer Reports.
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But Consumer Reports says be aware that your credit score can take a temporary hit when you apply for new cards.
"You might not want to risk that if you're applying for a mortgage or other significant loan in the near future," says Chris Fichera of Consumer Reports.
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Money Matters: 4 Tips for Improving Your Credit Score Read more: http://www.wmur.com/money/28768934/detail.html#ixzz1VosT9Cn9
Repairing bad credit is not quite as simple as repairing your car. It can take years for your credit score to bounce back from a delinquency or default. And without a good credit score, you can find yourself fielding rejection notices when you apply for a loan or credit card. Or you could have to pay a significantly higher interest rate to borrow then someone with a higher score.
Why is your credit score so important? It’s the number that lenders use to gauge how likely you are to repay debts on time. It is derived from information compiled in a credit report -- including your payment history, the amount you owe creditors compared with the amount of credit that is available to you, and the extend of your credit history. Generally speaking, the higher your score, the lower your perceived risk to lenders.
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Why is your credit score so important? It’s the number that lenders use to gauge how likely you are to repay debts on time. It is derived from information compiled in a credit report -- including your payment history, the amount you owe creditors compared with the amount of credit that is available to you, and the extend of your credit history. Generally speaking, the higher your score, the lower your perceived risk to lenders.
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Monday, August 15, 2011
Credit score holds after fiscal 'emergency'
The “economic emergency” declared last year in Middletown has not resulted in changes to the township’s credit rating issued by Standard & Poor’s.
Middletown is in a “sound financial position with reserves sufficient to manage through the recession,” according to a July 29 S&P report that was released by the township this week.
The township was given an AA+ “very good” rating in the analysis, which comes after officials refinanced some $8 million in debt. Refinancing bonds issued in 2006 will save the township about $540,000, officials announced at Monday night’s supervisors meeting.
The board of supervisors voted unanimously to begin the refinancing process in May. Middletown has about $30.7 million in overall debt, according to the report.
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Middletown is in a “sound financial position with reserves sufficient to manage through the recession,” according to a July 29 S&P report that was released by the township this week.
The township was given an AA+ “very good” rating in the analysis, which comes after officials refinanced some $8 million in debt. Refinancing bonds issued in 2006 will save the township about $540,000, officials announced at Monday night’s supervisors meeting.
The board of supervisors voted unanimously to begin the refinancing process in May. Middletown has about $30.7 million in overall debt, according to the report.
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Visa Pushing New Card Technology
Visa Inc. is urging merchants to take the first step in resolving a long-running tussle over how to make U.S. credit and debit cards more secure and compatible with those used around the world.
Visa, which runs a network that processes electronic payments, announced a plan aimed at encouraging merchants to install technology at the cash register that accepts a card embedded with a computer chip. The card, which is widely available throughout the rest of the world, is considered to be more secure than traditional cards that have a magnetic stripe on the back.
There is just one problem: The cards are largely unavailable in the U.S. because banks say there isn't enough demand to justify their added cost.
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