From the category archives:

Credit Cards

Colleges Sell Student Info to Credit Card Companies

June 22, 2010

Colleges are selling databases containing the personal information of students and alumni to credit card companies. Under these arrangements, called “affinity” contracts, schools can earn bonuses for every card a student opens, and can earn additional bonuses when students carry a balance.

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Find Your Credit Card Contract

June 16, 2010

Under last year’s Credit CARD Act, credit card companies must post copies of their credit card agreements online at the Federal Reserve. This means that if you do want to see a copy of the agreement—say, before you sign up for a new credit card—you can find it online. Credit Card Contract Collection | Consumer [...]

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New York Judges Waking Up to Debt Collectors’ Shenanigans

May 12, 2010

Debt collectors treat the courts like a division of the collection agency, but New York judges are finally starting to object. Privately, some judges say they are embarrassed that in many New York courts, debt-collection lawyers have grown so comfortable that they give the impression they are in charge of the proceedings and do not [...]

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Citibank Credit Card Numbers Exposed by Blippy

April 23, 2010

Upstart social networking site Blippy apparently failed to protect its users’ credit card numbers—or at least some of them. Blippy allows users to see what friends are buying and comment on their purchases. It also let Google index the purchase information, including credit card numbers. If you are a Blippy user—especially if you have a [...]

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Debt Collection Help: Free Resources

February 26, 2010

Getting called or served with a lawsuit by a collector is a pain, at best. You can help yourself deal with debt collection with free information and tools online, but not everything you find will actually help. Here is a selection of resources that will: If you are contacted or sued by a debt collector, [...]

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Maryland Judge Dismisses “Tens of Thousands” of Mann Bracken Lawsuits

February 2, 2010

Mann Bracken, the enormous debt-collection law firm, recently closed its doors, leaving hundreds of thousands of consumers unable to resolve their debts. Since Mann Bracken sues on many of its debts, the sudden closure also left courts in confusion. One Maryland judge decided to take drastic measures. According to The Baltimore Sun, he dismissed “tens [...]

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What Credit Card Security Codes Are For

January 27, 2010

Credit card security codes (CVV2 codes) are not stored on your card’s magnetic strip, and merchants may not keep them. Providing it ensures that you have the actual card in your possession. Maryland consumer rights lawyer Sonya-Smith Valentine explains:

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Citigroup Says Bah Humbug

December 17, 2009

Despite accepting taxpayer’s bailout money, Citigroup refuses to show sympathy to consumers. A local parking attendant bought a television on credit with Citigroup back in 2007. At the time of purchase, the receipt mentioned a deferred interest promotional offer, with no further explanation on the receipt or from the salesperson. The consumer made monthly payments [...]

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Credit Card Companies Make it Hurt Before New Laws

December 10, 2009

Despite the new credit card laws go into effect in February, credit card companies are putting the financial hurt on customers. According to a report from Safe Credit Card Project: 99.7% of bank cards allowed card issuers to boost rates on outstanding balances. 90% of bank cards increased their penalty rates. Interest rates jumped an [...]

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The New Debtors’ Prison

October 21, 2009

Debtors’ prison was supposedly eliminated in the United States in the 19th century, but in the 21st, people are still being arrested and tossed into jail for debts. It just takes an extra step these days. This morning, I sat in court and watched a debt collector get six bench warrants for debts under $1,000. [...]

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