Is There a Minimum Amount for Cashback Rewards?

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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

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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 →

What This New Credit Score Measurement Tool Says About You

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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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What is a Return Item Chargeback?

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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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Are Free Trial Offers Really Free?

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If a Sale or Online Special Seems Too Good to Be True, It Usually Is

We’ve all heard the cliché warning, “there’s no such thing as a free lunch,” but it has never rung as true as it does online. Products and services advertised with free trial offers are almost never what they seem.

While the promise of a great deal might be tempting, there are precautions to take before jumping on board.

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EMV Fraud Could Affect Black Friday and Cyber Monday

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The Transition to EMV Cards Has Create a New Fraud Threat for Holiday Shopping

 

The retail industry is ramping up for its much anticipated Black Friday event, the unofficial start of the holiday season. Are you ready?

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Safety Tips for Mail-Order and Online Pharmacies

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5 Things to Remember When Buying Medication Online

We have safely arrived in the age of convenience. Whether we are looking for our weekly groceries, the perfect gift for a friend, or the ability to customize pretty much anything, we know where to find it: the internet.

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9 Things You Never Knew Could Destroy Your Credit Score

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Deadly Consumer Actions are Destroying Your Credit Score

The simplest actions can make or break your credit score. In fact, there are several things you’re probably doing which will cause your rating to slowly dwindle until your reputation is absolutely destroyed.

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How to Avoid Counterfeit Merchandise

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Tips to Help Consumers Avoid Counterfeits

Everyone loves a good deal, and there is nothing wrong with shopping around to find low prices for high-end goods. But when a deal comes along that seems too good to be true, it probably is.

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When to File a Chargeback

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The Difference Between a Refund and a Chargeback

Many consumers have learned there is a quick and easy way to get a refund for a credit card purchase. Rather than contact the merchant directly, many consumers choose to dispute the transaction with the bank.

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