Identity Theft ScamsWritten by James Dimmitt
Identity Theft scams continue to flourish on web. One that you need to be aware of and beware of is any site that seems to be selling high-demand items (digital cameras for instance) at a much lower (almost unbelievable) price than you can find on other sites or manufacturer’s site.
Often victim’s are told to pay nothing until they receive merchandise. The person behind scam uses victim’s name and a credit card number belonging to another person to purchase item at a legitimate site.
Once item is shipped, victim then authorizes his credit card to be billed or sends payment directly to scammer. The scammer has now put you in position of being in receipt of stolen merchandise while they get away with your money.
Another scam that still seems to be working is being contacted through e-mail by someone claiming to be from your credit card company, your internet service provider, Paypal, or Ebay.
Credit Rewards Cards: Are They Right For You?Written by James Dimmitt
Rewards cards have become latest rage in credit card industry. In past, consumers shopped for credit cards that offered lowest interest rate. Next came cards with low interest rates and no annual fees. Today, consumers can shop for cards based on what type of “reward” they can earn for using a specific issuer’s card.
How does a reward program work? Typically, program awards points, "dollars" or a cash value based on amount you charge. The rate at which you collect points varies depending on what you charge or where you charge it. Some programs offer extra points for using their card at a specific place such as a supermarket or fast food restaurant or for certain items.
Some programs offer a variety of rewards. Consumers can earn meals, tickets to sporting events, airline tickets, electronics, or even create their own reward program.
The goal is to get you consumer to use your credit card as much as possible. Why? FEES! The credit card issuer makes money from two sources each time you use their card. First, from merchant who pays issuer a merchant transaction fee and secondly, from you through finance charges and late fees.