Credit Cards

‘An independent consultant has created a new web site offering businesses a free analysis to determine if their credit card processing fees are too high.

“There are a variety of different credit card processing fees, and trying to figure them out is a difficult task for an untrained person,” explained Chris Enders, an independent merchant account consultant. “The merchant account companies purposely make their statements and fees difficult to understand, and that makes it hard for the average person to figure out if they can save money with a different company.”

Enders explained that any company can fax three months of credit card processing statements for a free analysis.’

Read more at New Web Site Offers Free Analysis to Find the Best Rates for Credit Card Merchant Account Processing

‘A pair of guests at an East Fishkill inn allegedly got royal treatment at the expense of others, state police in Stormville said.

A clerk at the Royal Inn on Route 376 was arrested Thursday, accused of copying the identification and credit card numbers of guests and giving the information to two other people, who used it to shop, police said.’

Read more at Hotel clerk accused of stealing guests’ credit card numbers

‘The government’s latest decision is not to interfere with interest rates on credit and cash card debts. But it also ordered the banks to stop consigning business solicitation and debt collections to local financing firms, beginning on April 1.

The policy adopted at an inter-department coordination meeting on Tuesday night nixed a plan by the Ministry of Justice (MOJ) to draft new rules to lower ceiling interest rates.

Officials said banks are still free to set interest rates, but they encouraged the banks to set flexible interest rates for different customers based on creditworthiness and financial risk.’

Read more at Gov’t won’t lower top rates for credit cards

‘Visa USA has started shipping a mini credit card that fits on a keychain and only requires the user to pass it over a scanner in order to make a purchase.

The “Contactless Mini Card” is meant as a complement to a regular credit or debit card, Visa said. The smaller card’s advantage is in its convenience.

At half the size of a regular credit card, it can be attached to a key chain for easy access. The mini card includes a radio-frequency identification chip and antenna that makes it readable by a scanner. It also has a magnetic strip for use in more traditional credit-card machines used by retailers.’

Read more at Visa launches mini credit card

‘A south Florida woman is trying to inform the public about a scam that plays on people’s emotions. The woman gave her credit card information over the phone because she thought it was a matter of life or death.

It took me to such a place I just thought the worst.”

Sherrye Fenton and her friend Cathy Catanzaro were headed to the airport in Charlotte, North Carolina Sunday when Sherrye’s cell phone rang.

“It’s a man saying he was with a woman who was in a major car accident and that she was unconscious and she had a lot of injuries, did I have a family member traveling,” Fenton said.’

Read more at Credit card scam plays on emotions

‘STORE cards charging customers more than 25% for credit will have to warn shoppers that cheaper rates are available elsewhere after a ruling by the Competition Commission.

The watchdog’s investigation into store card interest rates and sales practices, which began last year, heard evidence that more than 80% of all store cards in circulation - 61 from well-known high street stores - had an interest rate of more than 25%.’

Read more at Watchdog slaps warnings on drastic plastic credit charges

‘NTT DoCoMo Inc and Mizuho Bank will team up to allow cellular phones to be used as credit cards, the Nihon Keizai Shimbun reported over the weekend.

The cell phone service provider will take an 18 pct stake in Mizuho affiliate UC Card Co, acquiring shares from Mizuho Bank for about 1 bln yen, the report said. ‘

Read more at DoCoMo, Mizuho Bank to team up in credit-card enabled cell phones

‘BRITAIN’S credit card companies face losing around £400 million in revenues if the Office of Fair Trading (OFT) decide to go ahead with plans to cap so-called “default” fees.

It is believed the OFT is poised to introduce a limit on what it feels are the “unfair” fees are slapped on customers who pay late, whose cheques bounce or who breach their agreed credit limit.’

Read more at Default fees cap could hit credit card firms for £400m

‘Police have nabbed two visitors to the island, who they say are involved in a massive credit card scam.

The duo have only been identified by their nationalities. One has been identified as an Italian and the other a native of Santo Domingo.

The scam was uncovered when an unsuspecting store clerk in a shop at the Heritage Quay was presented with a credit card to pay for a quantity of jewellery and other goods.’

Read more at CREDIT CARD SCAM …Over $100,000 made in illegal purchases

‘The credit card market in Thailand is going to become saturated although a number of new credit cards continue to rise, according to an industry executive.

Somboon Krobtheeranont, Manager of Visa International (Thailand), said as of the end of last year, the number of visa credit cards increased by 1.1 million or 23 per cent from 4.6 million in the previous year.’

Read more at Local credit card market becoming saturated, says Visa executive