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Despite many recent security breaches that have exposed millions of credit cardholders to potential fraud and identity theft, online shopping continues to prosper, especially during the holidays. Financial fraud experts are now warning consumers about where some of the greatest dangers lurk: small, commercial Web sites.
In certain instances, fraudsters are able to gain real-time access to these small Web sites' transaction information, enabling them to steal valid credit card information in an instant and hastily ring up numerous fraudulent charges.
Identity thieves may have fewer potential victims at smaller sites, but they are often able to operate with greater ease due to defects in the software the sites use for online order processing, or due to a dependence on outsourced or outdated Web site security. Fraud prevention professionals note that many smaller Web sites rely on generic shopping card software that they neglect to update with the latest software security patches.
Software can help
Card theft triggers bigger woes
The long string of numbers, the magnetic stripe, the signature strip and the hologram all play roles in making credit transactions work.
When you arrive at a retail store register with an armful of items, the clerk will probably ask if you'd like to save 10 percent and receive perks by simply signing up for their store credit card. This may sound too good to be true ... and often it is.
Holiday shopping can be a dreaded and arduous task, so the last thing seasonal shoppers want to worry about is a credit card billing error. Susan Grant, director of the National Consumers League's fraud center, says consumers have stronger rights with credit cards than any other form of payment. As a wise shopper, be aware of your rights and take precautions to reduce the chance of encountering problems.
Consumer rights: credit cards
Consumer rights: debit cards
Consumer rights: Online purchases
Disputing charges
Caveat emptor
Time for Congress to act?
Increasing rates
Making ends meet with credit cards
Over the limit
Credit card debt has a way of spiraling out of control. The worst thing you can do is ignore it and hope it goes away. When you make poor financial decisions, these details begin to appear on your credit report, which can prevent you from getting a home, insurance or even a job.
4 steps to analyze your situation
1. Know how much you owe
2. Know how much you have.
3. Know your total monthly household expense.
4. Know how much can you afford to pay?
Negotiate and consolidate
Don't keep adding debt
Dealing with debt
CreditCards.com interviews small business owners about how they got started with credit cards. This Q&A is one of an occasional series.
Why did you use credit cards to start your business?
What was the basis of your credit card selection? Which cards did you choose and what were their credit limits and APRs?
How did you use the cards?
How did you manage the credit card charges?
What were the advantages of using credit cards to start a business?
The disadvantages?
Did you struggle to pay the debt?
When did you reach the point with cash flow where you were able to pay off the debt?
Do you still use the credit cards in your day-to-day business?
What advice would you give to someone in your industry who wanted to start a remodeling business using credit cards?
Most Americans view credit cards as a means for buying gas, making hotel reservations and gathering frequent flier miles. But did you know that credit cards can fund your favorite charities and nonprofit organizations?
The topic came up in 2005 with the massive destruction from Hurricane Katrina and the related outpour of charitable giving to organizations such as the American Red Cross and The Salvation Army. Through television, direct mail and online advertising, word quickly spread that donors could make a difference by providing immediate relief with their credit cards.
It will become a bit easier for consumers to dispute changes in their credit reports directly with banks or companies, according to a newly released federal regulation.
That regulation would formalize a now-informal practice, giving consumers a firm right to argue directly with companies that provide negative information to the credit bureaus. The bureaus compile information, positive and negative, into credit reports that dictate whether consumers can borrow money and at what rate.
Business credit cards used to be plain-vanilla, no-frills cards that served only as a way to separate business spending from personal spending. Now business credit cards offer as many reward options as personal credit cards.
Business cards with miles and frequent flier programs
Cash back business credit cards
Co-branded business credit cards
Reward credit cards for small businesses
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