With the holiday season here, many consumers are taking to both the Internet and their favorite stores to get all their shopping done, but experts warn the threat of identity theft, particularly online, looms larger at this time of year. For this reason, consumers should do all they can to make sure that they’re not… Read More
Many companies have been trying to make credit card transactions safer for consumers in recent years, and one of the world’s largest payment processors might just have a new solution. MasterCard, the world’s second-largest processor of debit and credit transactions, recently unveiled a new “display card” technology that could make it far easier for users… Read More
In recent months, a lot of attention has been paid to efforts by lenders and payment processors to push new types of more secure credit cards, but some experts say the kind of fraud popular today will simply shift to the new technology. Many of the world’s top lenders and payment processors are now pushing… Read More
A type of credit card technology that is quite popular all around the world will soon be available to American Express cardholders in the U.S. American Express recently announced that it will be requiring its various merchant and payment processing partners to start accepting EMV credit card purchases within the next few years, the company… Read More
When it comes to website security and functionality, Discover tops a new list from Forrester Research. The Forrester study, titled “2012 U.S. Credit Card Secure Website Rankings,” was conducted from March 6-9 and compared the top six U.S. issuers on 50 different criteria. [Free Resource: Check your credit score and report card for free before… Read More
You get a mortgage, and you get a mortgage and you get a mortgage! With credit scores on the rise and plucky consumers learning how to get ahead, there are signs that mortgages are closer than they appear. We also have stories about how cash is out of style and some good ol’ fashioned thievery…. Read More
With credit scores being more important than ever, debit fees on the rise and the changing need for credit as life goes on—we’re here to offer you the best advice the web has to offer. Take a look at this week’s selections to get a good read on where you stand, or where you would… Read More
On vacation a couple of weeks ago I went to the ATM to get some cash…and forgot my PIN. I entered what I thought was the correct number, but it was wrong. So I tried another variation and, again, no luck. Then my sister warned me that if I tried again and got it wrong, the machine would eat my card.
Some background: Back in 2003, the UK instituted a new credit card security program to help reduce fraud. Called chip and pin, the system required all credit cards to be outfitted with a small microchip (many US cards now also have these chips) and for the user to have a pin number. This replaced the traditional swipe and sign system still in use in America. Controversially, the switch also transfered fraud liability from the credit card issuers to the retailers directly under UK law
Straight out of Chicago, more disturbing news. The NBC news affiliate there tried the same thing – with five instant credit offers. They ripped up the applications, then taped them back together and filled out each one, often having to write around the tape (since they taped the front; the guy with the Website taped the back to make writing easier – potential credit thieves take note!). One application included a change of address where the applicant had never lived. In several weeks’ time, three cards were mailed out – one to the changed address – with limits totaling $21,000.