Credit News
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By AFP
Moscow -
"If you don't die by yourself, we'll help you," threaten the phone messages that Natalya, a 69-year-old Russian pensioner, has been receiving for months after falling further behind on her credit card payments.
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Sacramento -
Americans now owe over $885 billion of revolving debt, according to sources at the Federal Reserve and much of it is entangled in credit card debt. This might be one of the reasons online lending is growing.
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By AFP
Cabanatuan -
Philippine rice farmer Francisco Santo Domingo's life is in ruins after losing yet another gamble with nature, but the typhoon that destroyed his crops means gleeful loan sharks have again hit the jackpot.
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The UK's Which? consumer research group has found that contactless payment cards can be easily hacked using homemade technology. The card details can be stolen and then used to pay for goods online without further verification.
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Mastercard's head of emerging payment products has said that contactless payments with cards and phones will be accepted at every store in the UK and Europe before 2020, sparking a debate on whether this will actually be possible.
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An 11-year-old school student ran up a bill of over £3000 on his mother's card after a series of app and game purchases were charged repetitively by Google despite the payments failing. Google made hundreds of transactions in just a few days.
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Your credit score is critical. While it doesn't define you, it certainly determines whether or not you'll be able to buy a house or car with a reasonable interest rate (or at all).
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A study has revealed that early issues with Apple Pay are causing many earlier patriots to neglect regular use of the service. 47% of users have experienced issues in stores advertised as Apple Pay friendly.
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The recession and all its woes are supposed to be behind us, right? Yet far too many Americans are still struggling, and low credit scores are forcing them to pay more for core services and turn to high interest financial products.
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A restaurant server has been accused of editing the tips that customers gave her with extra numbers, adjusting a $5 tip to $15 or even $25, affecting at least 20 of the restaurant users.
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Mobile transactions firm Freecharge has raised $80 million from new investors to help fuel its growth. The company enables users to get free rewards such as food or entertainment by simply paying phone bills through its mobile app.
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By AFP
Frankfurt -
The European Central Bank has given the green light to make up to 60 billion euros ($68.5 billion) in emergency liquidity available to Greek banks, a source close to a national central bank told AFP on Thursday.
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Nearly 3 of 4 Americans (73%) would be concerned if they discovered their fiancé had a bad credit rating, according to a new survey by Capital One. Additionally, a spouse's bad credit rating is more likely to concern women (80%), compared to men (66%).
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Leaked photos show that GameStop is planning to release a new credit card with tie-ins to other programs, offering a massively high interest rate of 22.99%
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A large number of credit card users do not fully understand their card's terms, benefits and rewards program, and have trouble selecting between different types of cards. This is according to an annual survey of credit card users.
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This is a question many credit card users ask themselves. The real answer to the ‘how many’ question is this: it depends.
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U.S. arts and crafts chain store Michaels has confirmed that on Thursday around 2.6 million cards - over 7% of payments taken on Thursday - used in its stores may have been affected in a security breach.
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By AFP
Washington -
Bank of America will pay $772 million over illegal credit-card practices that lured consumers into signing up for added products and services, US regulators said Wednesday.
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By AFP
Brussels -
The European Parliament on Thursday appeared set to fast-track a cap on fees paid on credit card transactions, in a vote which was welcomed by consumer advocates.A plenary session of parliament sitting in Brussels voted to impose a fee ceiling of 0.
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By AFP
Washington -
Moody's put Russia's credit rating on review for a possible downgrade Friday, saying the Ukraine crisis could exacerbate its already troubled economy.
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By AFP
Washington -
Moody's put Russia's credit rating on review for a possible downgrade Friday, saying the Ukraine crisis could exacerbate its already troubled economy.
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By AFP
Washington -
The world's largest retailer Walmart has sued credit card giant Visa for more than $5 billion for conspiring with banks to fix fees that merchants pay for accepting Visa card payments.In the suit filed this week in Arkansas, where Walmart is based, th...
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By Reuters
Credit Suisse Group AG <CSGN.VX> has agreed to pay $885 million to resolve claims by a U.S.
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By AFP
Dubai -
Oil-rich Abu Dhabi and the UAE central bank agreed Sunday to extend the period of loans worth $20 billion accorded neighbouring Dubai when it was hit by the global financial crisis in 2009.The government of Abu Dhabi agreed to roll over a loan of $10 b...
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By Reuters
Credit Suisse's <CSGN.VX> headquarters in Germany was one of the offices raided by German authorities last month as part of an invest...
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By AFP
Madrid -
Spanish banks reported on Tuesday record-high bad loans in December as lenders continued to pay for the country's real estate bust even as the financial sector prepared to exit a 41-billion-euro ($56 billion) bailout.Doubtful loans -- those at risk of ...
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By AFP
Shanghai -
A looming default on a $500 million Chinese investment product sold by China's largest bank ICBC to hundreds of investors appears to have been averted days ahead of deadline, a document seen by AFP Tuesday showed.
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By AFP
Shanghai -
A shockwave is looming in China's multi-trillion dollar "shadow banking" system, with an unprecedented default only days away on a $500 million investment product sold to hundreds of people.
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By AFP
Madrid -
Spanish banks reported Friday record-high bad loans, with more than one in eight rated as doubtful in November even as the financial sector prepared to exit a 41-billion-euro ($56 billion) bailout.
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By AFP
Madrid -
Spanish banks, alarmed by multiple bankruptcies and mass unemployment, are keeping a tight rein on loans and potentially choking off the lifeblood of a longed-for economic recovery, analysts say.
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Credit Image
This is the "Douglas Money Equation" as formulated by Major C.H. Douglas (1879-1952).
Via Flickr / xJason.Rogersx
Freecharge offers rewards if you pay your phone bill through them Freecharge
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