Credit Card Now

With tax season just around the corner, nows a good time for consumers to familiarize themselves on the various tax laws especially if theyre filing their own taxes. Recently, a tax advocacy group says more people qualify for a tax exemption on forgiven credit card debt and often dont even realize it.

The biggest reason consumers dont tax advantage of this opportunity is because they arent even aware that it exists. In fact, a spokesperson for the American Institute of Certified Public Accountants says too many consumers find the various tax laws and changes complicated and daunting, so they take a Tylenol in preparation of the headache thats sure to arrive and then take the path of least resistance when theyre doing their taxes.

The good news, however, is consumers can go as far back as 2008 and file an amendment.

Read more…

Tags: Tax, Tax Exemption

Reward programs are one of the most popular extras you can get with a credit card but all too often people forget to actually make redemptions.

Most of these cards offer points per dollar spent, either as general reward points or frequent flyers that will expire after a certain amount of time.

While it could be a year or more before the points balance is reset, regularly redeeming points for benefits is essential to really get the most out of a rewards card.

These points can be used for a wide range of rewards, so to help you avoid losing them to expiration dates, here is a look at three of the best options available with most cards.

Flights and Travel Rewards

Whether you have a frequent flyer card or a membership rewards option, flights and travel can be a lot cheaper thanks to the points in your account.

An airline-specific credit card, like Virgin’s Flyer series or the HSBC Qantas Platinum, will send point directly to the airline loyalty program, so you can check your redemption option there.

More general reward programs, on the other hand, can often be transferred over to airline loyalty points, or exchanged for gift vouchers and travel deals, making it cheaper to get away.

Shopping Rewards

Do you have things on your shopping wish list that never get bought?

Many reward programs have their own redemption lists, like American Express’s Platinum Edge, the Bankwest More card and the Commonwealth Bank Awards cards.

With things like electronics, homewares, chocolate and wine, these reward lists mean you can finally justify getting something you want but may not necessarily need. Tha

Read more…

Tags: Card, Credit Card

ELYRIA, Ohio- Burglars entered a home on the 100 block of Marseilles Avenue in Elyria, Ohio. The two suspects were armed and stole credit cards and cash from the family around 10 PM on Wednesday. At the time of the robbery, the father was upstairs sleeping when the suspects knocked on the door.

Two younger brothers were in the living room and opened the door. Two men barged in the door and asked the boys where their father was. The suspects then made the boys take them upstairs to awaken their father. At first he thought it was a joke, but after seeing the men with guns, he knew it was serious.

The suspects got away with $100 in cash and numerous pre-paid Visa and MasterCards.

Read more…

Tags: Cards, Credit Cards

Bank charges on unauthorised overdrafts are “too high, too complex and impossible to compare”, according to a report from consumer organisation Which?. It is calling on the financial regulator to put a stop to these “complicated and exorbitant” charges.

Which? asked a group of consumers to work out the cost of an unauthorised overdraft at four different banks by giving them a mock bank statement. Not one got all the calculations right, with the volunteers only managing to get seven out of 48 correct between them. One volunteer, despite currently studying for a PhD in maths, only got two out of the four calculations right.

Which?

Read more…

Tags: Charges, Unauthorised Overdraft

Dear To Her Credit, I received a phone call from 567-248-4455. The Caller ID said “Phone Scam,” which I thought was funny. It was the usual recorded message offering to lower my interest rates. Out of curiosity, I hit the 9 button to hear more information. It took me to a representative, obviously in another country, who told me that he represents all credit cards from all banks, and he can get my interest rates lowered for me. All I have to do is confirm my credit card numbers.

I kept going, just to see if he really had my credit card numbers. (I had no intention of reading my card numbers off on the phone!) What really got me was that he knew the first four digits of one of my Visa cards.

Read more…

Tags: Phone, Phone Scams