Since 2003, the American Bankers’ Association has recognized the third Thursday in October as Get Smart About Credit Day.
Today’s savvy consumer is leery of scams and situations which may result in fraud, and for good reason. According to experts, scam artists and fraudsters victimize millions of consumers each year, and if you’re not careful, you could easily be next!
Have you made a purchase recently from an online business, only to find that the business suddenly went bankrupt?
Now it looks like you’re out the money, and you’re not going to get the product or service you paid for. It’s a frightening prospect, but it happens more often than you might expect. Fortunately, all hope is not lost—consumers do have certain protections in-place which can help them recover their funds from a bankrupted business. Read more →
eConsumer Services® CEO Gary Cardone recently lent his insight and decades of business experience to a guest column for Home Business Magazine, the publication for aspiring entrepreneurs.
In his August 23, 2016 piece, Cardone cited a disturbing new statistic from the FINRA Investor Education Foundation: nearly two out of three U.S. consumers cannot pass a basic financial literacy test. Read more →
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 →
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 →
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 →
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 →
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 →
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.
When it comes to card balances, the three credit bureaus, TransUnion, Equifax and Experian, sort cardholders into one of two categories—revolvers or transactors.
Read more →
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