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Tag Archives: credit cards

Dvorkin On Debt: Your Credit Card Is Not Your Friend

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Why do we use credit cards? It seems like such a basic question, but can you guess the answer? If you said, “Obviously for all the rewards, cash back, and airline miles you can rack up,” well…you’re wrong. “The single biggest reason Americans use credit cards is because they are easier and more convenient than paying with cash,” says a recent ... Read More »

    4 Tips for Living Without Credit Cards

    credit card verification

    Credit cards can be good financial tools for the responsible consumer. In this day and age they can also feel absolutely essential since some stores, vendors and even airlines require plastic (though you can use a debit card too). But credit card spending can also lead to debt if not done responsibly. Switching to a cash-only life can help avoid this. ... Read More »

      Credit Card Fraud Protection in Australia, UK and the US

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      In Australia, United States and United Kingdom, credit card use appears much the same. The names are familiar – Amex, MasterCard and Visa are the dominant players in all three markets. But the card issuers responsibilities to consumers aren’t quite equal. While U.K .and U.S. consumer protection schemes have convened into a general code for credit card users across the ... Read More »

        The Future of Credit Cards

        Credit cards

        The Future of Credit Cards (via Credit.com) At a recent conference devoted to travel and credit card rewards, executives from Chase, Barclaycard, US Bank, Capital One and American Express were on hand to share their views on the future of credit cards — and there was a broad consensus on where the industry is going in the next few years. ... Read More »

          University of Georgia Ph.D. Student Sentenced For Fraud And Identity Theft

          In early December, Carlton Lewis, a former Ph.D. student was sentenced to 70 months in prison for his role in an identity theft and credit card fraud conspiracy. Throughout the conspiracy, Lewis, who was enrolled as a Ph.D. student at the University of Georgia, provided credit and debit card skimming devices to waitresses working in restaurants across the southeastern United ... Read More »

            East Coast Credit Card Fraud Ringleader Gets 12 Years In Prison

            An identity thief was sentenced earlier this month to 12 years in prison for managing and east coast credit card fraud ring. Jonathan Oliveras, used counterfeit credit cards encoded with stolen account information up and down the East Coast of the United States and has been sentenced for this crime. In addition to his 12 year prison term, Oliveras must ... Read More »

              Retail Store Credit Cards: How Many = Too Many?

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              “Would you like to save 10 percent on your purchase today by applying for a retail store credit card?” Does that sound familiar? Just about every major clothing and electronics store has promotion aimed at getting people to sign up for a store-specific credit card. But what you don’t know about retail store credit cards could hurt your wallet and ... Read More »

                Couple Faces Serious Jail Time For Their $25 Million Nationwide Telemarketing Fraud Scam

                Kara Singleton Adams, from Georgia, was found guilty last week on charges of wire fraud, conspiracy, and structuring financial transactions, relating to a $25 million nationwide telemarketing fraud scheme. Already convicted in this scheme are three co-defendants including Adams’ husband, Jason James Eyer, James Adolph Schoenholz, and Brittany Dunphy. All three pleaded guilty to related charges before Adams’ trial and ... Read More »

                  I Was Building a New House But the Bank Won’t Give Us What it Appraised For So I Put the Rest on My Credit Cards. – John

                  “Dear Damon, Was building a new house.. Went to close on long term loan.. The bank would not give us what it was appraised for. I had to you all saving to not lose the house.. I put the rest on credit cards. I could not keep up with card and all other expenses. I went to debt services company. ... Read More »

                    Scott Writes Me and Asks For Help – “We Are Behind And Overwhelmed”

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                    Scott wrote to me at GetOutOfDebt.org and asked me the following question. If you have a question you can visit GetOutOfDebt.org and ask for my free help also. “Dear Steve, We have too many bills and not enough money. We owe $30,000 in debt besides my mortgage. We are behind about 1-2 months are most bills and are overwhelmed. We ... Read More »

                      Teresa Writes In “I Have Too Many Credit Cards”

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                      Teresa “Dear Steve, I have too many credit cards. Where do I start to get rid of them? Teresa”   Dear Teresa, Credit cards don’t magically appear in our wallets or purses. They appear because we have done something or participated in some process to agree to these credit instruments. The first step to get rid of your credit cards ... Read More »

                        Opal Writes In “I’m Worried About Hurting My Credit If I Close Credit Card Accounts”

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                        Opal “Dear Steve, I have two or three credit card that are debt free. Should I close these accounts since I don’t use them and don’t need but one active card? Would it go against my credit to close these? Opal”   Dear Opal, As strange as this may sound, with only two or three credit cards to your name ... Read More »

                          This Time I Asked “Do You Think You Are a Failure When You Break Your Budget?”

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                          Recently I was over on the Finance Your Life blog and asked Doctor S, the blogger there for his opinion on the following question: “Do you become a financial failure when you break the budget just trying to get a bit of fun in your life when everything else around is stressful at home, at school, and with the finances?” ... Read More »

                            How to Get All the Cheap Credit You Want

                            Interest Cost to Pay Off Various Credit Card Balances

                            Today, the average person pays between 16 and 17 percent on credit card balances. While interest charges may seem low when you look at the monthly charge on your statement, over the long run they can really add up. In fact, the average person can put a hundred bucks or more in his or her wallet just by getting a ... Read More »

                              Can I Go Bankrupt On Just My Credit Cards? – Mike

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                              “Dear Steve, Can i go bankrupt on just my credit cards? Mike”   Dear Mike, If you have other creditors like loans, car loans, mortgage, etc. then you need to list all creditors in a bankruptcy. You don’t get to pick and choose who to include and who not to include. Everyone gets an invitation to the bankruptcy party. If ... Read More »

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