Identity Thieves Don’t Need Your Credit Card or Even the Number to Steal It.

Just when you think it can't get worse, it does. According to a credit card executive I spoke with, the latest ploy is that credit card thieves run a series of numbers - something like a lottery. Master Card, Visa and American Express each start with identifiable numbers. Credit card thieves then append random numbers and keep running them through a program. Eventually, they hit the … [Read more...]

American Express Prepaid Card – What You Should Know About Prepaid Cards

The American Express prepaid card confers the "stature" of being an American Express Card holder. The prepaid card is honored by merchants that accept American Express. But there are also concerns. Fraudulent charges. Immediate credits might be issued in some cases. However, cardholders are more often informed that it takes about eight weeks before a final decision is made, and they will not … [Read more...]

American Express Credit Fraud Alert – Phony Debt Collection on Behalf of American Express

A reader sent us the following debt fraud alert: A company with no name is sending out delinquent debt collection letters allegedly on behalf of American Express. If receive a debt validation letter, please read the fine print on both the stationary and envelope! Debt collection tactics in the AE case: The top of the letter contains an address, but no company name. In small type at the … [Read more...]

Credit Card Company Beats Wall Street Estimates by Raising Interest Rates

Master Card and Visa have been gouging cardholders for years, while American Express remained consumer and small business-owner friendly. Not any more. American Express raised interest rates about a year ago. Rates were hiked by over 5 percent annually in our low interest economy. The purported reason: Too many cardholders were walking away from their obligations. Or so American Express … [Read more...]