Paying by smartphone a not-so-smart idea
You can use your smartphone to do just about anything, and now you can buy a flat screen TV with a single screen tap. But is it a good idea? T-Mobile just launched a new service dubbed “Direct Carrier Billing,” which allows users to make purchases on their phone and billed to their T-Mobile account. Consumer attorneys warn that these services don’t offer adequate fraud protection, which means that in a dispute the consumer can be stuck with the bill.
Discover Card Lowered Interest Rate for Customer
A UCAN member wants you to know that his call to Discover Card resulted in lowering his credit card interest rate. Has Discover Card become humane and will others follow? Read on.
North American Sweepstakes Scam
The North American Sweepstakes scam is a form of the Nigerian money scam. Somehow these off-shore thieves are printing checks with the names of legitimate companies that have nothing to do with the scam. If you are cold-called or emailed about winning large sums of money where you're asked to send money, hang up and/or delete the email. They target seniors and low-income persons. Don't be a victim for this fraudulent scheme.
Feds sending $250 checks to Medicare Part D seniors
Some senior citizens enrolled in Medicare Part D will receive $250 checks from the federal government in June to help them with the expense of falling into the Part D prescription drug "doughnut hole." The payments are part of the recently passed health care reform legislation, that, eventually, will do away with the despised "doughnut hole" completely.
Health and Human Services Secretary Kathleen Sebelius said eligible seniors do not have to do anything to get this check and she cautioned seniors to be careful about scam artists asking for personal information.
Seniors enrolled in Medicare Part D fall into the so-called "doughnut hole" when their prescription costs exceed $2830. They then have to pay the full cost until their out of pocket reaches $4,550. Sebelius said that more than 4 million seniors affected by the "doughnut hole" will receive checks as the program rolls out.
LTD Financial Services, LP Debt Collectors Consumers Beware
Consumer beware. LTD Financial Services, LP is a debt collection company that appears to harass and use abusive collection tactics on consumers whether they owe a debt or not. One of our UCAN senior members was a victim of this practice. Our Chinese senior complainant was called incessantly and neighbors and family members were called to try to humiliate her into paying this debt. Read More!
2010: Understanding the new Credit Card Rules
Starting February 24, 2010, a number of changes in credit card issuer practices took effect. Some of them are fairly well known by now. Some aren't. An exploration of the provisions of the Credit CARD Act that no one is talking about could have a bigger impact on consumers than the more popular parts.
The Silence of the Hams - why the silence of the University of Chicago?
We must ask the question: Why the silence of the University of Chicago? Yes, Good Morning America's annual boycotting of UCAN's annual Big Oil Hog event is predictable, but the stewards of the "Chicago School" of econmics are notable in their lack of commentary on the the Big Oil Hog's amazing predictions. Could it be academic jealousy of the predictions made by the ultimate capitalist swine? More.
Banks not complying with Credit CARD Act, still raising interest rates
The Credit CARD Act, signed into law in May 2009 has been a source of contention since approval. The prevailing opinion is that the financial institutions that issue credit cards have been raising rates, slashing credit limits, adding fees, removing benefits, and canceling cards outright all ahead of the February implementation date of the Act.
Is every credit card company engaging in this conduct? Having any of them started to comply with the requirements of the Credit CARD Act? Is every card available being impacted?
Consumers denied loan for disputing inaccurate information on credit reports
A Fannie Mae policy puts consumers in a Catch 22. They have to dispute inaccurate information on their credit reports to qualify for loans, but those disputes could be the grounds on which a loan is denied.
Senator moves to impose immediate freeze on credit card interest rates
Senator Dodd is pushing back at the Credit Card companies for forcing interest rate hikes and dropping credit limits on consumers. The question remains whether Congress will follow through.
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