Posts in the Credit Cards category
Spending on credit and debit cards in September rose, despite the current economical conditions. Debit card spending rose by 12.7% in comparison with the previous month, and credit card spending rose 9.4% in the same period.
One theory is that consumers spent the £60 tax rebate they received and were not a sign of consumers ignoring the crunch.
The risk of fraud in the workplace is likely to rise during the credit crunch as managers will be more likely to falsify figures to make performance look better. Debt-strapped employees are also more likely to commit fraud.
Corporate fraud was £630m in the first 6 months of 2008 - up on recent years. And as fraudsters may struggle to get false credit cards in the current climate, they may be more likely to target deposit accounts instead.
The typical fraudster tends to be a male, middle manager, between the ages of 35 and 55, working in the finance department and having been with the company for many years.
The value of fraud losses topped £1bn in 2007 compared with £192m in 2000.
A chip and pin fraud run by people in China and Pakistan is netting millions of pounds from UK bank accounts according to a top US security official. It has been revealed that hundreds of chip and pin machines in stores and supermarkets across Europe have been tampered with in a way that would allow details of credit card accounts to be passed on to the fraudsters.
Reports are saying that the fraudsters could have tampered with the machines during manufacture in China or shortly after they came off the production line. It's believed that over the past 9 months, hundreds of devices in Britain have been relaying account details and pins of credit cards and debit cards, which is later transmitted via mobile phone networks to underground electronic experts in Pakistan. Mastercard International are also launching an investigation, after finding that several of the corrupt machines are reported to be found at branches of Asda and Sainsbury's, leaving thousands of people vulnerable to the crime.
The Tuxedo card is a prepaid mastercard and eccount which is a new method which can help towards the tackle of debt problems due to credit cards. Unlike a debit or credit card, you "top up" the card with the amount of money you wish to spend.
You don't need a bank account, there are no credit checks and you can use it at millions of locations worldwide. You can also withdraw cash from cash machines, shop on the High Street, online, by phone and via mail order.
The system aims to provide a safe and secure way in which people can manage their money. So, the features...
You can also get Tuxedo Cashback. Tuxedo pays you to shop at over 1000 online stores, and in return, you can earn cashback immediately on your purchases. Shops include Wickes, Tesco, WHSmith, Norwich Union and Asda. All you need to do is register for a free account, and the cashback will register automatically and be pending in your account in 5 working days. Just make sure that you sign into the Tuxedo Account before you go shopping at their retail partners. Then you will definately get the cashback.
And, at the moment, if you want the card, and apply for it, you also get £5 free when you make an initial load of £50 or more. There is apparently a fee of £2.50 if you use the card at an ATM though, but not on store purchases. Still sounds expensive to me, especially because you have to buy the thing, for £9.95!!