Finance Globe

When consumers have trouble with businesses, the Federal Trade Commission is often the go-to government agency for complaints. Each year, the FTC compiles a report on the complaints it received from the previous year. In 2012, the FTC’s biggest complaint category was identity theft. That makes the 13th year in a row that identity theft has topped the FTC’s list of complaints. Eighteen percent of all the FTC’s complaints were related to identity theft, similar to...

According to the 2013 Identity Fraud Report from Javelin Strategy & Research, 1 in 4 people who received a data breach notification letter in 2012 became a victim of identity fraud. A data breach happens when secure information gets compromised. Sometimes it’s intentional, for example, when a person hacks into a company’s computer files. Other times it may be unintentional, like when a company employee loses their laptop, which contains sensitive information. In either case, the...

When Bankrate.com surveyed consumers about their credit card debt and emergency fund or savings, only 55% of them answered that they have more money saved up than they have in credit card debt. Forty percent (40%) either has more in credit card debt than in savings or no credit card debt or savings at all. The final 5% didn’t know or didn’t answer. Men are faring better: 60% of men said they have more in savings...

Tax identity theft is growing in the United States. In fact, 43% of identity theft complaints received by the FTC in 2012 were related to tax fraud. The IRS received close to 940,000 fraudulent tax returns in 2012 (for the 2011 tax year) compared to only 242,124 in 2011. They expect the number to reach 1 million for the 2012 tax year. Thieves don’t need a lot of personal information to commit tax id theft. Just...

Rewards credit card offers have ramped up this year, with many credit card issuers offering better rewards than ever before. The Capital One Venture Card, for example, pays 2% cash back on purchases. Discover it Card pays 5% on quarterly rotating categories and 1% on everything else. And the American Express Blue Cash Preferred pays 6% cashback on groceries, 3% on gas and department stores, and 1% on everything else. Those are just a few of...

There are many bad credit cards out there, some of the worst contenders are those that target people with bad credit. Even with bad credit, there’s one credit card, you should definitely stay away from: the First Premier Bank Credit Card. What’s so bad about this credit card? It’s expensive. Too expensive. Before you get the credit card, you’ll have to pay a one-time $95 processing fee before the account is opened, just to get the...

Despite the high interest rate and borrowing costs, payday loans are attractive to so many borrowers because they don’t have as rigorous of an approval process as regular loans. In fact, all you usually need to get a payday loan is your driver’s license, a recent paystub, and a blank check. Since there are no credit checks, you can get a payday loan no matter what type of credit score you have or what negative items...

Dealing with financial problems can be tough, especially when it comes to credit card. Monthly payments, balances, due dates, past due balances, and collection calls can be very stressful. It’s hard not to worry about credit cards, but the key to relieving your stress is to figure out how you can start solving your problems. Don’t ignore your credit cards. If you just neglect your credit cards, the problems will only get worse. Right now you...

If you’ve ever ordered a “free” credit report or credit score, you’re likely already familiar with trial subscriptions. But, the credit reporting industry isn’t the only place where this scheme is used. Numerous companies bait you into subscribing to their service by offering a free trial. The hope is that you’ll either like the service and continue using it (and of course, paying) or you’ll forget to cancel your trial and still end up paying. Here’s...

In this week’s State of the Union address, President Barack Obama recommended the minimum wage be incrementally increased to $9.00 per hour and be tied to the inflation rate after that. Having the Federal minimum wage indexed to inflation would help make sure that employees are paid a wage that keeps up with increased cost of living. All workers can benefit from increased minimum wage. Generally, other wages move up when the Federal minimum wage goes...