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BUSINESS
Liz F. Kay | October 24, 2011
Five of the six largest credit card issuers reported higher delinquency rates --- payments late by at least 30 days --- in September, according to Bill Hardekopf of lowcards.com . These rates had been declining recently, which could mean that consumers are once again struggling to make ends meet. But the issuers were also reporting that charge off rates --- debts deemed uncollectable --- are lower.  I wonder how these data might correlate with the jobless rate , which has been creeping up in Maryland since May. American Express The delinquency rate increased to 1.5 percent in September from 1.4 percent in August.
ARTICLES BY DATE
NEWS
August 21, 2014
My oh my, schools have cut out handwriting. What do they think they are doing? How are children going to sign their name? Technology has brought many changes to our lives, but it doesn't mean we can dismiss handwriting, a basic skill. Especially in business, we must sign our names while we open a checking or savings account, sign for a loan or mortgage and any receipt must be signed when using a credit card - the preferred choice of payment for today. A waitress comes to your table and writes your order with a pen and paper, and then goes to the computer to put the order into the kitchen.
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BUSINESS
Eileen Ambrose | May 2, 2012
CardHub.com, the credit card comparison site, gave these cards top marks for new college and high school graduates: For college student, CardHub likes: Journey Student Rewards from Capital One - No annual fee, and 1 percent cash back for all purchases. Make your payment on time and your cash-back rate is bumped up to 1.25 percent. Citi Dividend Platinum Select MasterCard for College Students - No annual fee, and 5 percent back on purchases at certain merchants, such as gas stations, supermarkets and convenience stories for first six months.
BUSINESS
By Lorraine Mirabella, The Baltimore Sun | August 19, 2014
Consumers who shopped this summer at Shoppers Food & Pharmacy, which has 20 Baltimore-area stores, could have been victims of credit card data theft, owner Supervalu Inc. said. The Minnesota-based retailer, which owns Shoppers and other U.S. supermarket chains such as Farm Fresh and Shop 'n Save, alerted customers it had a breach in the computer network that processes payment cards at some of its stores. Account numbers, expiration dates and/or cardholders' names could have been stolen, although the company has not determined whether any thefts occurred.
BUSINESS
By Eileen Ambrose, The Baltimore Sun | June 6, 2010
The credit card reform signed into law a year ago by President Barack Obama is not only causing the industry to change but scaring some consumers straight. Under the law, credit card statements must disclose how long it will take to pay off a balance if you make only the minimum payment. For Norma Kaplan of Baltimore County, it would take her 13 years to pay off the $9,000 balance on her card, and over that time she would pay about $4,200 in interest. That has inspired her to pay more.
BUSINESS
Eileen Ambrose | November 30, 2011
Update Kenneth Clayton, chief counsel of the American Bankers Association responds to CFPB's report: “There are more than 383 million credit card accounts in the U.S., and less than one-tenth of one percent of those have submitted a complaint to the Bureau. This is a strong record, and one the industry will work to build upon. "   The Consumer Financial Protection Bureau today released its first report on credit card complaints. The federal agency began accepting credit card complaints on July 21 - when it officially opened for business - and received 5,074 complaints in the first three months.
BUSINESS
Eileen Ambrose | June 19, 2012
The Consumer Financial Protection Bureau has been accepting consumer complaints about credit cards for close to a year. Today, the agency made a database of those complaints available online. You can see the names of the card issuers griped about, the gist of the complaint and company's response and the consumer's zip code. The CFPB says it has received 16,840 credit card complaints, with the most common complaint involving billing disputes. The agency sent 84 percent of those complaints to the card issuers, while the rest went to other regulators or were incomplete.
BUSINESS
Eileen Ambrose | December 7, 2011
First, there was Bank Transfer Day, a Facebook campaign that encouraged consumers to switch from a big bad bank to a credit union by Dec. 5. Now, there's Balance Transfer Day, a Facebook campaign encouraging consumers to switch their credit card debt by Dec. 11 to a lower-rate card. But questions are being raised about a conflict of interest by the Balance Transfer Day founder, Michael Germanovsky. According to the Associated Press , Germanovsky is “editor-in-chief of a website that profits off credit card applications.” Germanovsky told the AP that his online campaign has nothing to do with his role at Credit-Land.com.
NEWS
September 2, 2012
Regarding your story about Baltimore City school administrators' credit card expenses, I propose that schools CEO Andrés Alonso be sent to the principal's office - in another state ("City school officials play loose with credit," Aug. 26). The reports of ongoing financial irregularities should outrage all taxpayers. Mr. Alonso has chosen to minimize the seriousness of the problem but he simply doesn't get it. He came to Baltimore with sterling credentials and a vision for improving a seriously distressed school system.
EXPLORE
AEGIS STAFF REPORT | February 5, 2013
A second person charged in connection with a credit card skimming scheme that operated in Harford County pleaded guilty to mail fraud in U.S. District Court in Baltimore Friday. Tri Tran, also known as "Tony," 35, a citizen of Vietnam unlawfully in the country and living in Maryland, skimmed credit card account data and re-encoded onto different credit cards used to buy merchandise at retail stores, according to the statement of facts in his plea agreement that was entered into court Friday.
BUSINESS
Lorraine Mirabella | August 14, 2014
If you had a complaint about your credit card last year, about billing or fraud, for instance, you were more likely to live in Maryland than North Dakota. Mid-Atlantic residents had the most credit card complaints per capita, with Maryland ranked overall in the U.S. as the state with the third highest number of complaints, according to a new study. Consumer website ValuePenguin analyzed the more than 13,000 complaints collected by the Consumer Financial Protection Bureau in 2013 to come up with its findings.
BUSINESS
By Lorraine Mirabella, The Baltimore Sun | August 4, 2014
Customers who dined at P.F. Chang's China Bistro at the Inner Harbor during two months this spring may be victims of debit and credit card data theft, the Scottsdale-based chain warned Monday in an announcement of a widespread security breach at 33 U.S. locations. PF. Chang's was alerted to a possible breach on June 10 by the U.S. Secret Service and launched a still-ongoing investigation. The company said it had the problem contained by the next day and has been processing credit and debit cards securely since June 11. Chang's said its card processing system was breached.
NEWS
August 4, 2014
Harried commuters will be gratified by the Maryland Public Service Commission's decision last week to require taxicabs operating in Baltimore City to install credit card-reading devices in the back seat where passengers sit. The new rule, which goes into effect at the end of the year, will allow customers to just swipe a Mastercard or Visa to pay the fare rather than having to carry cash. It's a convenience riders in other cities have long enjoyed, and it has probably taken a lot of the anxiety out of hailing a cab. It's about time Baltimore caught up with the trend.
BUSINESS
By Kevin Rector, The Baltimore Sun | July 29, 2014
State regulators on Tuesday rejected rate increases for taxis and ordered all operators to install new credit-card-reading smart meters by the end of the year. The Maryland Public Service Commission said the new meters will bring more predictability and better service to customers hailing cabs in Baltimore city and county, while providing better financial data for use in future rate reviews. The commission cited the lack of reliable data as a major reason for rejecting rate increases.
NEWS
AEGIS STAFF REPORT | July 15, 2014
The Harford County Sheriff's Office is asking the public's help in identifying a person believed to be responsible for a recent theft of a wallet from a shopper at the Abingdon Walmart. The victim was at the Walmart on Constant Friendship Boulevard on July 2 when a man asked her to help him get something from a shelf, the Sheriff's Office said in a news release Friday. When she finished helping the man, she realized her wallet had been stolen from her purse. The victim's credit cards were used at the Abingdon Target later that morning, the Sheriff's Office said.
BUSINESS
By Scott Dance, The Baltimore Sun | July 5, 2014
First came the switch off of the gold standard. Then checkbooks and credit cards started the shift away from cash - but to bitcoin advocates, not far enough. As the anonymous digital currency gains favor with retailers such as Overstock.com and is welcomed by California and other states, some in Baltimore are trying to boost adoption locally. They argue that bitcoin is the next logical step beyond credit cards, offering greater security without transaction costs. But they also acknowledge a sort of chicken-and-egg problem when it comes to getting consumers to adopt bitcoin and retailers to accept it. In Baltimore, some tech advocates, a few business owners and the entrepreneurs behind the local startup Bitsie aim to encourage acceptance among local shops and to promote broader education about how bitcoin works, and why more people should use it. That means overcoming challenges, including volatile exchange rates and a lack of any central regulation of bitcoin, factors that make some question whether the currency will ever gain mainstream traction.
TRAVEL
By Tom Parsons, McClatchy-Tribune | November 29, 2009
What's the deal? British Airways has a promotion to entice people to sign up for a new Visa Signature affinity credit card. First-time cardholders with new accounts will earn 50,000 miles with their first purchase and another 50,000 miles for spending $2,000 in the first three months after the account is opened. That's 100,000 miles, enough for two coach round-trip tickets or one business-class round trip to parts of Europe, including Belgium, France, Germany, Ireland, Luxembourg, the Netherlands, Switzerland and the U.K. You also can redeem miles for flights on codeshare partner American within the continental U.S., and to Canada, Hawaii and Mexico.
SPORTS
By Jon Meoli and The Baltimore Sun | April 23, 2014
The Navy hockey team celebrated its best season ever in 2014, winning the Eastern Collegiate Hockey Association title and reaching the quarterfinals of last month's ACHA Division 1 National Championships. On Tuesday, the team got a reward. The team was treated to a day with hockey's greatest prize, the Stanley Cup, thanks to a program from Discover credit card that allows more than just each year's NHL champion to spend a day with Lord Stanley's Cup. “I am so proud of the incredible season these young men had,” Navy coach Mike Fox said in a news release.
NEWS
AEGIS STAFF REPORT | April 18, 2014
One man is charged and two others are facing charges in connection with a string of car break-ins between March 8 and 14 in several Abingdon communities, police said. Aaron Cooper Starrs, 19, of the 500 block of East. South Street in Kennett Square, Pa., is charged in one case with two counts each of rogue and vagabond, theft less than $100, charging another person's credit card less than $1,000 and charging another person's credit card less than $100 and theft scheme less than $1,000.
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