Personal Finance

Credit.com in the News 2/2/2013

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This week the experts from Credit.com contributed to a wide range of publications on subjects including identity theft, credit card swipe fees and managing old debts. Check out the hits…

Credit.com’s Co-Founder and Chairman Adam Levin was called on by NBC to clear up the facts on the new credit card swipe fees that can now be passed on to consumers in 40 states. He explains the chain of cost is incurred from the credit card companies to the merchants and ultimately the consumers. He highlights that all stores that put this practice in to effect must state it clearly with a sign and on a receipt that credit card users are being charge a “checkout” fee. It’s noted that debit card users will not be affected by the additional fee.

View more videos at: http://nbcnewyork.com.

@Adam_K_Levin @NBCNewYork

The new surcharge also got the attention of Good Morning America. He explains that most large retailers and service providers won’t be charging their customers an additional fee for using credit. Also, when credit card users shop online they are entitled to the same notification of fee charge as in stores.

Click here for the full story.

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Credit.com’s Director of Consumer Education Gerri Detweiler was also asked to weigh in on the new surcharges. She explains the complexity of the chain from credit card company to merchant to consumer. She thinks consumers should make their voices heard to the merchants in order to be a part of an opposition that could change minds about charging the extra fee.

Click here for the full story.

@GerriDetweiler @UPI

Liz Weston from The LA Times sourced Gerri for her Q&A column when a question arrived from a debt holder asking about the best ways of negotiating an old debt. Gerri errs on the side of safety when there’s a possibility of re-aging debts, which can a lot of harm to consumers. She recommends contacting a consumer law attorney to be sure you don’t get stuck being accountable for the full amount of old debts, plus interest.

Click here for the full story.

@latimes @lizweston

Adam lent his identity theft protection skills to WTOP when they discussed smartphone safety. Adam strongly stresses that these devices should not be thought of as phones but as very portable computers that need to be protected as such. He recommends strong passwords, using shopping apps instead of purchasing on sites through the browser and to turn wifi off when not in a trusted zone.

Click here to listen to the full interview.

@WTOP

Want to speak with one of our experts? Email us at pr(at)credit.com.

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  • ricky johnson

    trying to consolidate bills since divorce to get me back on track

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