eConsumer Services® Provides New Services to a Larger Audience

ECS Teams Up with Consumer Action to Help Educate the Public

eConsumer Services® is proud to introduce their new nonprofit partner, Consumer Action.

As announced in an August 8, 2016 press release, eConsumer Services® will be teaming up with this valued organization to encourage broader public financial literacy. Read more

Gift Card Fraud: The Latest Consumer Fraud Threat

Impostors Use Deceptive Claims to Swindle Consumers

Every day, criminals find new ways to scam people out of their money. For example, one of the latest-developing attack methods relies on convincing cardholders to buy gift cards, then turn the gift card number over to the fraudster.

Why would people do this? Because the fraudster convinces them it’s their only hope of avoiding a lengthy jail sentence. Read more

What You Need to Know about PayPal’s New User Agreement

New PayPal Regulations Will Be Implemented June 2016

PayPal’s new user agreement goes into effect this summer.  Before you simply ‘Agree’ to accept the new policy, you need to understand a few of the changes.  How will the new policies affect you as a consumer? Read more

Is There a Minimum Amount for Cashback Rewards?

Your Cashback Minimum Depends on the Conditions of Your Specific Card

If you hold a credit card, there is a decent chance that there is some form of rebate or rewards program attached to that card.

Issuers including Bank of America, Chase, Discover, Capital One and American Express, just to name a few, typically offer rewards as an incentive for using your card frequently. These rewards might include airline miles, hotel points, gas credits, or in some cases, cashback. Read more

Chargebacks on a Credit Card Affect Businesses and Customers

Chargebacks on Credit Card Purchases Cost Billions Annually in Lost Revenue

Although you may not have ever heard the term “chargeback,” you might be familiar with the concept.

A chargeback is essentially a refund performed at the bank level. After completing a transaction, a dissatisfied cardholder’s bank forcibly withdraws money from a seller’s account and returns it to the cardholder.

Chargebacks were originally devised as a form of consumer protection. However, many consumers use chargebacks as a way to take advantage of e-retailers, often without even knowing that they’re doing it. Read more

Stay Safe Online: You’re More Vulnerable Than You Think

Your Personal Information is Exposed and Available to Fraudsters

Everyone seems to be paying close attention to cyber security these days. Even still, the seemingly constant stream of high-profile data breaches making news headlines suggests that we are always a step behind the criminals.

However, are consumers putting too much emphasis on certain aspects of online security while leaving other avenues vulnerable? Is it even possible to stay safe online?

Americans Apprehensive About Sharing Information

American consumers are generally anxious about the information they share. A poll conducted last year reports that 91% of Americans feel they’ve lost control over the way in which companies collect and use their personal information. The same poll suggests that the majority of people have little faith in the security of communication lines including cell phones, texts, emails and social media. Read more

Monica Eaton-Cardone’s Advice For ID Theft Prevention

Debit Cards and ATMs May Leave Consumers Vulnerable

The threat of identity theft is a major concern among consumers. According to USA Today, identity theft reports by consumers jumped by 47% in 2015.

As co-founder of eConsumer Services®, Monica Eaton-Cardone is an expert on the subject of fraud and identity theft prevention. Earlier this week, a piece published by high-profile finance site, The Street, featured advice to consumers on how to avoid being victimized.
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What This New Credit Score Measurement Tool Says About You

What Are Revolvers and Transactors? How Will These Labels Impact Your Credit Score?

There is an old myth which suggests that leaving a small balance on your credit card will actually help boost your credit score. While that may not make a whole lot of intuitive sense, plenty of people continue to believe this is the case.

However, not only is this not true, but due to the credit score measurements guidelines, allowing your account balance to rollover from one month to the next is actually detrimental to your credit score.

Revolvers vs. Transactors

When it comes to card balances, the three credit bureaus, TransUnion, Equifax and Experian, sort cardholders into one of two categories—revolvers or transactors.
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Monica Eaton-Cardone Featured on TheStreet

eConsumer Services® Co-Founder Monica Eaton-Cardone Discusses Millennials, Banking and the Future of Finance

In 2015, Millennials surpassed Gen Xers for the first time in terms of their share of the US workforce. More than one in three American workers are now under the age of 35, placing Millennials as the largest generational share of American labor. Of course, as more and more Baby Boomers reach retirement age, the trend in these figures will only continue be more heavily weighted toward Millennials and, soon, Post-Millennials.

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What is a Return Item Chargeback?

What is This Unfamiliar Fee on My Bank Statement?

If you’re like most consumers, you might have a rough knowledge of your current checking account balance.

Gone are the days when people would sit down for hours on end to meticulously record bills and balance the checkbook; a casual scan of the bank statement for anything unusual is about as thorough as most people get now.

Therefore, it’s understandable how most individuals would overlook a ‘return item chargeback’ line on the monthly statement.

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