All a Connecticut volunteer fire department wanted to do was raise money to buy new equipment. But a raffle created more embarrassment than profit.

[Read more →]

Sometimes you can bend the rules. Other times, you just have to follow them to get what you want. Remember that when you go online to get those free credit reports you’re entitled to every 12 months. There’s only one place to get them–no matter what you may be led to believe through ads or […]

[Read more →]

Many consumers worry that unauthorized or undelivered purchases will ruin their credit. “A major company is threatening to turn my account over to a collection agency over a charge I never made,” one woman complained. “The bill concerns a purchase I never authorized.”
Another woman is in a quandary about her obligation to pay for merchandise […]

[Read more →]

New York State is cracking down on gas stations that charge consumers higher prices to pay with credit. Under state law in New York and nine other states, retailers are prohibited from surcharging credit card customers. But NYS Attorney General Andrew M. Cuomo said a recent investigation found about a third of the gas stations […]

[Read more →]

John Merris has an above average credit score. But he wants to make it even better. “Although my credit report and score are both good, the credit reporting agency informed me that it would be even higher if I had a credit card history,” the New Jersey man explained. Merris was confused, because he’s been […]

[Read more →]

Make a mistake with your credit card and the issuer can impose a ridiculously high default rate–30 percent or higher. What triggers a default rate? San Francisco based Consumers Action asked nearly two dozen card issuers. Here’s what it found.

Addison Avenue FCU: One late payment
American Airlines-FCU: One late payment; Two or more late payments
American […]

[Read more →]

How Do I Start the Recovery Process? Identity theft is an emotionally devastating crime. Victims are likely to feel shocked, anxious, angry and helpless. Many are overwhelmed with concerns about their future financial security. Recovery begins when you retake control. Here are the first steps:

Make a list of any accounts you know or suspect have […]

[Read more →]

What if someone else borrowed the card to make a purchase?
Owning a credit card has its advantages. However, ownership also creates liabilities. The card owner, for instance, is responsible for paying the full balance on the account. That includes payment for purchases other people may have made–a fact many consumers misunderstand.
New Yorker Mike Ruskin, for […]

[Read more →]

Two of the three largest credit-reporting agencies plan to change their credit scoring systems this summer. Chalk it up to FICO ‘08, a software revision from Fair Isaac Corp., developer of the FICO credit score. “The scoring range of 300 to 850 won’t change,” explained Craig Watts, a spokesperson for Fair Isaac. “Nor have the […]

[Read more →]

Consumers with higher credit scores have an easier time getting insurance and may pay lower premiums than consumers who have low credit scores. It’s a known but unsettling fact for some consumers, especially during tough economic times.
Almost all auto insurers–92 of 100 polled in a survey by the research firm Conning & Co.–consider credit-based insurance […]

[Read more →]