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Tag Archives: debit cards

Most Students Think Debit Cards Build Credit (They’re Wrong)


Sure, debit cards look almost identical to credit cards, but they’re very different. Among the biggest differences between these products is one of the most important: Debit cards do not have an effect on your credit score. Debit card activity isn’t reported to the credit bureaus. Because of that, they don’t show up on your credit reports, so they’re not helping ... 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 »

      Banks Lose in Senate Today Over Debit Card Fees

      Ready to Collapse

      by Marian Wang ProPublica, What’s arguably been the biggest lobbying brawl so far this year came to a head today in the Senate when lawmakers voted against delaying a controversial element of the Dodd-Frank financial reform legislation. The vote clears the way for the Federal Reserve to set rules that would limit banks’ revenue from debit card fees and cut ... Read More »

        Bank Groups Try to Scare Consumers Using Twitter

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        by Marian Wang, ProPublica It’s April 21, and another Dodd-Frank deadline has come and gone. Today was the day the Fed’s regulations on debit card transaction fees, also known as interchange fees, were supposed to be finalized. Hasn’t happened. Controversy over the regulations caused the Fed to postpone finalizing the rules. But that win alone wasn’t enough for the banks, ... Read More »

          Debit Card Concerns. Profits Hide Truth About Your Risks.

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          For years banks have lied and hidden the reality of debit cards from you. What I’m about to tell you is going to sound counter-intuitive from everything you’ve been taught and believe. Here it is. Don’t use a debit card. It’s not smart financial management. By now you’re probably thinking that I’ve lost my mind but before you judge me, ... Read More »

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