Credit Cards

‘A hacker who gained access to New Hampshire’s computer system may have stolen credit card information for thousands of people, including customers of state liquor stores.

Gov. John H. Lynch revealed the breach yesterday and warned consumers to carefully check their credit card statements and report suspicious purchases.’

Read more at Computer breach could mean stolen credit card information

‘Dubai Islamic Bank (DIB) has recently announced the launch of its first Islamic Credit Card with the support of Card Tech Limited, a leading UK-based bankcard systems provider and processor.

The new ‘Alislami Credit Card’ (The Islamic Credit Card), offered in Visa Classic, Gold, Gold Executive and Platinum, will provide DIB customers with all the benefits of a conventional credit card whilst ensuring that all payments and repayments are fully compliant with Islamic Sharia’a principles.’

Read more at DIB launches first Islamic Credit Card with CTL | Card Tech Ltd (CTL)

‘Bahrain is taking all possible measures to deal with the ATM and Credit Card frauds as part of the Kingdom’s commitment to the highest service standards for the banking and financial sector, the Bahrain Monetary Agency (BMA) Governor, Rasheed Al Maraj, said yesterday. The BMA Governor, in his speech at the opening of the MEFTEC 2006, said that the ATM and credit card fraud, for instance, is a significant world-wide phenomenon. ‘

Read more at All steps to curb credit card fraud’ - Bahrain

‘Credit card issuers are stepping up efforts to encourage you to pay your taxes with plastic.

This tax season, Chase and United Airlines have begun awarding double miles for each dollar of taxes paid on their United Mileage Plus SignatureVisa card. American Express has similar deals on its Delta and Starwood credit cards.

Already, more people who owe at tax time charge it to plastic than have the money electronically transferred from their bank accounts. In 2005, about 1.5 million taxpayers paid federal taxes on credit cards or MasterCard- and Visa-linked debit cards — up 54% from 2004, according to the IRS.’

Read more at Credit card firms dangle bait to those who owe taxes

‘AUSTRALIANS have never had easier access to a credit card with banks undercutting each other in the battle for the consumer dollar.

The Reserve Bank warned yesterday the market had become saturated with no-frills cards to try to entice consumers.

There are now nearly 12.44 million credit card accounts and it is estimated Australians spend nearly $15 billion a month.

The central bank, which hinted yesterday that interest rates would remain on hold in the near future, said banks were keen to get more credit-card customers.’

Read more at Banks vie for credit card share [14feb06]

‘NEARLY a third of credit card customers have been hit with a late payment charge, raking in millions of pounds for issuers.

Research from financial data specialists Moneyfacts has found that 31% of card customers have at one time been forced to make a late payment charge.

It is estimated that banks and credit card companies earn around £500m a year through late payment fees and interest from overdrafts on current accounts.’

Read more at Third of card holders hit with fines

‘Motorola added a new feature on Wednesday to the already versatile cell phone: credit card capability.

The world’s second-largest cell phone maker unwrapped M-Wallet, a technology that allows users to pay bills, purchase products, or transfer money using their cell phones.

M-Wallet, a software application that consumers and merchants alike can download from the Internet, also allows retailers to market goods and services directly to customers’ cell phones.

Merchants can send virtual gift cards directly to customers’ cell phones. Customers can then redeem the gift cards via the phone or at the store location.’

Read more at Moto Debuts Credit Card Phone

‘Shopaholic Kiwis appear to be making more sensible use of their credit cards and paying off their debt in full more often, according to investment monitoring firm FundSource.

Official figures show that the amount of money owed on credit cards which was not being charged interest in November was up 10.3 per cent on the same time in 2004.

By contrast, the amount of credit debt that was attracting interest grew just 5.9 per cent in the time.’

Read more at Credit card lessons learned

‘Hudson’s Bay Co. is selling its credit card division for $370-million, but would have fared far better if it didn’t have to pay a $50-million fee to Royal Bank of Canada.

That’s because the beleaguered retailer late last year struck a deal with RBC for a co-branded credit card and agreed to pay it a $50-million breakup fee if another suitor acquired the credit card operation.

Yesterday, HBC announced that it was selling the division to General Electric Co.’s GE Money unit for net proceeds of $370-million.’

Read more at HBC sells credit card division

‘Consumer worries about credit card fraud have resulted in numerous protections being created. A consumer whose credit card is wrongly used by another generally has one hundred percent protection. If your personal credit card is stolen and used by an unauthorized party, the card issuer is usually able to refund all lost monies and will have your account corrected within days if not hours.

This consumer protection is wonderful. After all, none of us want to suffer the damages of identity theft or credit card fraud. The idea of a thieving stranger creating thousands of dollars of additional debt for us or cleaning out our bank account on lark is a frightening one. As consumers, we all want and need protection from this kind of criminal activity.’

Read more at Don’t Let Credit Card Fraud Lead Your Dance