Credit card

Israel calls hack 'breach of sovereignty', vows to hit back

Following the attack on credit card companies by Saudi hackers, Israel has decided to hit back.

Google to unveil NFC-powered mobile payment service

Google is set to turn smartphones into mobile wallets. The tech and internet search giant is expected to launch a mobile payment system that will let consumers wave their phones to pay instead of pulling out a credit card, according to multiple tabloid reports, citing sources familiar with the matter.

Money Rules for Successful Marriage

The joint-venture called ‘marriage’ necessarily involves another partnership, that of ‘money’. For the former to last long, it is imperative that you strike a balance in your money habits too.

Spendthrift Wife? Here's How to Control Her

Money conflicts are common to all households. But if your wife is splurging your hard earned money on things that you don’t even require, perhaps its time you draw the line.

These Underdogs Are No Dogs

Short-sellers and hedge funds may be shadowy, but sometimes they are the smartest ones in the room. They've done their homework, and they're willing to bet their capital against the crowd -- an investing strategy that can be as lucrative as it is contrarian.

Google's next phone doubles as credit card

Mountain View, Calif. -- Google Chief Executive Officer Eric Schmidt said U.S. consumers will be able to use Google's next smartphones as a replacement for credit cards.

Schmidt announced the new Nexus phone in San Francisco at the Web 2.0 Summit, Red Orbit reported Tuesday.

At a conference, Schmidt pulled a cellphone from a pocket and said, "I have here an unannounced product that I carry around with me. You will be able to take these mobile devices that will be able to do commerce. Essentially, bump for everything and eventually replace credit cards," he said.

Schmidt called the process "tap-and-pay," referring to use of a touch screen on the phone that requires tapping to make transactions.

Police: Worker stripped, beat suspect

Dallas -- Dallas police said a restaurant employee forced a credit card abuse suspect to undress and beat him with a length of pipe outside the eatery.

Police said Hermilo Aguilar, 61, attempted to use someone else's credit card Wednesday to pay a $17.80 tab at the Pizza Lounge, leading an angry restaurant employee to take him outside behind the restaurant, the Dallas Morning News reported Friday.

The police report said the employee, whose name was not released, told officers he struck the man with the pipe because he was "sick and tired of this type of thing happening at his business."

"I can offer you no explanation as to why ... (the restaurant employee) had the guy get naked," Deputy Chief Michael Genovesi said.

Consumer credit dropped in July

Washington -- Consumer borrowing dropped in July by $3.6 billion, falling for the sixth consecutive month, the U.S. Federal Reserve reported Friday.

Consumer credit fell at an annual rate of 1.75 percent during the month, the Fed said.

Revolving credit, which generally means credit card loans, dropped at an annual rate of 6.25 percent to $827.8 billion. Outstanding credit on non-revolving loans, most commonly mortgages, rose at an annual rate of 0.5 percent to $1.5 trillion.

Copyright 2010 United Press International, Inc. (UPI).

New credit card protections go into effect

Washington -- New protections for credit card users from unreasonable late fees, contained in the finance reform bill, went into effect Sunday, officials said.

CNN reported the new rules prohibit credit card companies from charging more than $25 for late payments, except in extreme circumstances such as repeated violations; and charging customers for not using their cards. The rules also require the companies to reconsider rate increases made since Jan. 1, the Federal Reserve said.

Banks will have to cut rates if the reasons for the increases no longer exist.
Consumers also no longer will face multiple penalty fees if the violation was based on a single late payment.

Getting a Travel Card? Watch Out For These

When traveling around the world the last thing you want to think about is money. Unfortunately, the dirty little paper notes, coins, and plastic cards are what takes us to our dream destinations.

Credit card users get protection

Respite for credit card users who, for some reason, make a late payment! Such users will not have to pay late payment charges at the whims and fancies of a particular bank.

Credit card law may boost spending

Washington -- U.S. consumers will save enough from the Credit Card Act of 2009 to effectively create an economic stimulus, one of the measure's co-authors says.

Estimates of fee reductions in 2010 range from nearly $2 billion to nearly $10 billion due to the law that took effect Feb. 22, USA Today reported Tuesday.

That amount constitutes its "own little stimulus for the economy, keeping billions in the pockets of consumers rather than in profits gained by deceptive practices," said Rep. Carolyn Maloney, D-N.Y.