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A Bully Finds a Pulpit on the Web

Saturday, November 27th, 2010

A Bully Finds a Pulpit on the Web

SHOPPING online in late July, Clarabelle Rodriguez typed the name of her favorite eyeglass brand into Google’s search bar.

n moments, she found the perfect frames — made by a French company called Lafont — on a Web site that looked snazzy and stood at the top of the search results. Not the tippy-top, where the paid ads are found, but under those, on Google’s version of the gold-medal podium, where the most relevant and popular site is displayed.

Ms. Rodriguez placed an order for both the Lafonts and a set of doctor-prescribed Ciba Vision contact lenses on that site, DecorMyEyes.com. The total cost was $361.97.

It was the start of what Ms. Rodriguez would later describe as one of the most maddening and miserable experiences of her life.

The next day, a man named Tony Russo called to say that DecorMyEyes had run out of the Ciba Visions. Pick another brand, he advised a little brusquely.

“I told him that I didn’t want another brand,” recalls Ms. Rodriguez, who lives in the Chelsea neighborhood of Manhattan. “And I asked for a refund. He got rude, really obnoxious. ‘What’s the big deal? Choose another brand!’ ”

With the contacts issue unresolved, her eyeglasses arrived two days later. But the frames appeared to be counterfeits and Ms. Rodriguez, a lifelong fan of Lafont, remembers that even the case seemed fake.

Soon after, she discovered that DecorMyEyes had charged her $487 — or an extra $125. When she and Mr. Russo spoke again, she asked about the overcharge and said she would return the frames.

“What the hell am I supposed to do with these glasses?” she recalls Mr. Russo shouting. “I ordered them from France specifically for you!”

“I’m going to contact my credit card company,” she told him, “and dispute the charge.”

Until that moment, Mr. Russo was merely ornery. Now he erupted.

“Listen, bitch,” he fumed, according to Ms. Rodriguez. “I know your address. I’m one bridge over” — a reference, it turned out, to the company’s office in Brooklyn. Then, she said, he threatened to find her and commit an act of sexual violence too graphic to describe in a newspaper.

Ms. Rodriguez was shaken but undaunted. That day she called Citibank, which administers her MasterCard account, and after submitting some paperwork, she won a provisional victory. Her $487 would be refunded as the bank looked into the charge and discussed it with the owner of DecorMyEyes. A final determination, she was told, would take 60 days.

As that two-month deadline approached, Mr. Russo had dropped his claim for the contact lenses he’d never sent. But, she said, he began an increasingly nasty campaign to persuade her to contact Citibank and withdraw her dispute.

“Call me back or I’m going to drag you to small-claims court,” he wrote in an e-mail on Sept. 27. “You have one hour to call me back or I’m filing online.”

A few hours later, Mr. Russo sent details of what appeared to be a lawsuit filed in Brooklyn. It included a hearing date and time, the address of the court, a docket number and a demand for $1,500, which, the e-mail said, “includes my legal fees.”

Ms. Rodriguez did not respond. A few hours later, Mr. Russo raised the stakes sharply by sending another e-mail, this one with a photograph of the front of the apartment building where she and her fiancé lived.

Then her cellphone started ringing. And ringing. Ms. Rodriguez and her fiancé went to the police station at 1 a.m. to file a complaint.

Read more at: NYTimes.com

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{Photography by Davide Santoni}

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Credit card traps – common ways of getting caught in a credit card mess

Sunday, November 21st, 2010

Credit card traps - common ways of getting caught in a credit card mess

Today, the number of people that are on debt is alarming. A quick peek into all the people that are in debt might reveal to you about how complicated it can tend to be to remain on credit if you have not planned it out in the right manner. In fact, credit cards are considered as one of the main reasons as to why people are in deep debt. If you are careful with your credit cards, you wouldn’t really have to be worried about the problem of debt. Listed below are some common ways in which you might be caught in the debt trap.

Making minimum payments

One of the oldest ways of getting into trouble would probably have to be by making the absolute minimum payments for each payment period. In doing so, you might end up pushing your debt to a larger figure, eventually realizing that it is next to impossible to be cleared with ease. Many young adults have the habit of making minimum payments, due to which they find getting out of the credit card itself to be a complicated task.

Change this habit right from the beginning and learn to make payments as early as possible. In this way, you wouldn’t have to be worried about accumulating debts, which will accrue interest over time. It is important to look into this and be assured of the fact that you will be able to make the payments as quickly as possible, without having to be worried about some huge bill waiting for you at the end. If you are unable to make payments now, it is quite possible that you will not be able to do so in the near future either. Stop using your card if you are finding it hard to make payments for it currently.

Avoiding the late payments

Credit card traps almost always start off with late payments. Customers sometimes simply forget to make payments, which ends up snowballing into a larger problem. One missed payment is sufficient for your credit card provider to double or even triple your interest rate! Clearly, you don’t want to be paying such an exorbitant rate on your credit card. What is worse is that you might actually end up paying such large numbers even on your other credit cards, without having applied to them.

Read more at: examiner.com

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{Photography by Beatrice Murch}

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Credit card use plunges as hard times drag on, debit use rises

Friday, September 10th, 2010

Credit card use plunges as hard times drag on, debit use rises

Americans have sharply reduced their use of credit cards, and some analysts believe the trend will continue even after the economy has fully recovered.

The Federal Reserve Board reported this week that credit card borrowing fell at a 6.3% annual rate in July. The last time borrowing with credit cards increased was in August 2008.

Separately, a survey by Javelin Strategy & Research found that 56% of consumers used credit cards in 2009, down from 87% in 2007. Credit card usage could fall as low as 45% this year, the report said.

Read more at: USA TODAY

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{Photography by Andres Rueda}

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Advice for those who Can’t Pay their Credit Card Bills

Thursday, September 2nd, 2010

Advice for those who Can't Pay their Credit Card Bills

This blog is for people out there who cannot pay their credit card bills. If you have lost your job or possibly have suffered from an illness, whatever the reason and you cannot pay your credit card bills…well this hub is for you.

I’m sure you have already had many a sleepless night wondering what you are going to do, maybe you’ve had good credit your whole life, maybe you’ve already tried credit cardconsolidation and now that you missed a payment or two your interest rate has sky-rocketed, your FICA score has plummeted and you don’t know how you are going to pay your next bill. Well, what I am going to tell you may go against the grain of many but here is my advice…are you ready, hmmm?

If you aren’t working, if you are renting your home or apartment or sleeping on your brother-in-laws couch, if you are barely able to buy food for your kids, DON’T PAY YOUR CREDIT CARD BILLS.

Read more at: HubPages

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{Photography by L.E. MacDonald}

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Beware That New Credit-Card Offer

Sunday, August 29th, 2010

Beware That New Credit-Card Offer

Amid all the junk mail pouring into your house in recent months, you might have noticed a solicitation or two for a “professional card,” otherwise known as a small-business or corporate credit card.

If so, watch out. While Capital One Financial Corp.’s World MasterCard, Citigroup Inc.’s Citibank CitiBusiness/AAdvantage Mastercard and the others might look like typical plastic, they are anything but.

Professional cards aren’t covered under the Credit Card Accountability and Responsibility and Disclosure Act of 2009, or Card Act for short. Among other things, the law prohibits issuers from controversial billing practices such as hair-trigger interest rate increases, shortened payment cycles and inactivity fees—but it doesn’t apply to professional cards …

Read more at: The Wall Street Journal

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{Photography by Mike Baird}

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The New Credit-Card Tricks

Saturday, July 31st, 2010

The New Credit-Card Tricks

The New Credit-Card Tricks

Just months after historic legislation banned certain billing practices, card issuers have dreamed up new ones designed to trip up consumers.

Whomever President Barack Obama taps to head the new Bureau of Consumer Financial Protection could find it difficult to keep ahead of the credit-card industry.

The Credit Card Accountability Responsibility and Disclosure Act of 2009, known as the Card Act, was intended to reshape the contours of consumer finance. Among other things, it forces card issuers to give customers more notice about interest-rate increases and restricts certain controversial billing practices such as inactivity fees.

Yet some of the biggest card issuers in the U.S., including Citigroup Inc., J.P. Morgan Chase & Co. and Discover Financial Services, are already rolling out a slew of fees designed to recapture some of their lost income, in part by skirting the new rules. Some banks may even be violating the law outright, say consumer advocates.

“Card companies are figuring out how to replace old fees with new ones,” says Victor Stango, an associate economist with the Federal Reserve Bank of Chicago and a professor at the University of California, Davis, who has been analyzing how the Card Act will affect consumer banking. “It’s a race between regulators writing ever-more-complex laws and credit-card companies setting up ever-more-complex fees.”

Read more at: Wall Street Journal

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{Photography by Hunter-Desportes}

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Tips that can save you from credit card fraud

Saturday, May 29th, 2010

Tips that can save you from credit card fraud

With the increased use of credit card these days there have been an increase in the no of frauds related to credit cards too. One never comes to know that directly or indirectly we leave a trail wherever we go or whatever we do these days and all this credit goes to the credit card. Whenever you swipe your credit card whether it is on the gas station or wall mart you unintentionally leave a record which makes you recordable, leading to the leak of your personal information too. With this increased use of plastic money there has been increase in the breach of personal security too. People have now become the glass consumers. You can easily be tracked down because of your credit card because of which not much consumer privacy is left these days. A mentally disturbed hacker can breach into these files and can easily misuse your records or bank accounts. This is the real reason of the increased credit card fraud these days. People and there personal belongings have become so transparent these days that it has become very easy for the master minds to play with other people assets. But one should not panic as credit card information always remains at risk. For fraud there have been few steps a person can always take in order to be assured against such threats. Therefore following are few tips for people who are a regular credit card users in order to protect there personal information against such tricksters.

Read more at: I Retire Early

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{Photography by John Trainor}

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Consumer debt is not your friend

Wednesday, May 5th, 2010

Consumer debt is not your friend

Here’s a simple MBA lesson: borrow money to buy things that go up in value. Borrow money if it improves your productivity and makes you more money. Leverage multiplies the power of your business because with leverage, every dollar you make in profit is multiplied.

That’s very different from the consumer version of this lesson: borrow money to buy things that go down in value. This is wrongheaded, short-term and irrational.

A few decades ago, mass marketers had a problem: American consumers had bought all they could buy. It was hard to grow because dispensable income was spoken for. The only way to grow was to steal market share, and that’s difficult. Enter consumer debt.

Read more at: Seth’s Blog

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{Photography by Tambako}

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How we pay with plastic will change Monday with new credit card rules

Sunday, February 21st, 2010

How we pay with plastic will change Monday with new credit card rules

New consumer-friendly rules taking effect Monday will mean colossal changes for the 180 million people nationwide who have credit cards — and even millions who don’t.

If you pay with plastic:

  • No longer will banks arbitrarily be able to change the interest rate on your balance.
  • No longer can they confuse you by changing the date your monthly payment is due.
  • No longer can they cut your credit limit, allow you to go over it, then charge a penalty.

And the list goes on.

Read more at: Cleveland Ohio Business News

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{Photography by Jason Rogers}

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Credit card’s newest trick: 79.9 percent interest

Friday, December 18th, 2009

Credit card's newest trick: 79.9 percent interest

It’s no mistake. This credit card’s interest rate is 79.9 percent.

The bloated APR is how First Premier Bank, a subprime credit card issuer, is skirting new regulations intended to curb abusive practices in the industry. It’s a strategy other subprime card issuers could start adopting to get around the new rules.

Typically, the First Premier card comes with a minimum of $256 in fees in the first year for a credit line of $250. Starting in February, however, a new law will cap such fees at 25 percent of a card’s credit line.

In a recent mailing for a preapproved card, First Premier lowers fees to just that limit — $75 in the first year for a credit line of $300. But the new law doesn’t set a cap on interest rates. Hence the 79.9 APR, up from the previous 9.9 percent.

Read more at: Finance.yahoo.com

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{Photography by Hans Gerwitz}

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