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Credit card consumers should set up direct debits

Written by Tim Peak on March 26, 2011.

There are many ways in which people with credit cards make repayments on their credit card debt, with some paying by Internet bank or by phone and others paying at a post office or through the bank. There are also people that set up a standing order or direct debit to make their payments on their credit cards, and industry officials have said that this is usually the most suitable and convenient way, which could also save them facing charges from late and missed repayments.

Many people that make payments manually on their credit card debts have the hassle and inconvenience of having to remember to make the payments and having to take some sort of physical action – such as making a call or heading to the post office of bank – to make the payment. Tho

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Wells Fargo Rewards Credit Card Review

Written by Oliver Laker on March 26, 2011.

As a followup to my review a couple days ago of the Wells Fargo Home Rebate card, I thought it would be a good idea to check out what they claim to be their “most popular credit card” and that is the Wells Fargo Rewards card. Is it worthy of being #1? Let’s find out…

  • This credit card gives 1 reward point per dollar spent. This is across the board for all purchases – there are no bonus point categories.

If you also have a Wells Fargo checking account, then you can link your rewards debit card (if you have one) and your credit card points so they are combined.

Unfortunately, their debit card only gives 1 point per $4 in spending and that only applies to signature-based transactions, NOT those where you enter a PIN. Furthermo

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IndusInd Bank will buy credit card biz of Deutsche Bank

Written by Oliver Laker on March 26, 2011.

Private sector lender, IndusInd Bank has decided to buy the credit card operations of the Indian division of Deutsche Bank.

Talks about Deutsche Bank selling off its credit card business  have been in the air since quite some time. Amongst various contenders for the same, the bank had finally shortlisted two lenders namely, Axis Bank and IndusInd Bank.

The credit card business of the lender has 1,50,000 active cards and and outstanding amount worth Rs 2-2.5 billion rupees.

“IndusInd is close to striking the deal with Deutsche Bank and could offer a small premium to the amount outstanding on the current credit card base, which is in the range of 225-250 crore (2.25-2.5 billion rupees),” said a source having knowledge about the issue.

“The deal is in its last leg and IndusInd seems to have an edge over Axis Bank as it would be able to absorb the 217 people employed in the credit card division of Deutsche Bank.

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Giving Stores your Zip Code: Yay or Nay?

Written by Blake Teen on March 24, 2011.

Picture this: you’re standing at check out in your go-to clothes store. They swipe your credit card and suddenly you are faced with that same potentially innocent but slightly troubling question: May I have your zip code?

Until today, I have handed my zip code right over pretty much every time I was asked — frankly, I wasn’t sure if it was required for the transaction but I didn’t think they could do much harm with my zip code anyway. But I do have a mailbox stuffed with ads, catalogs and mailers I didn’t ask for. So I am rethinking my zip code strategy.

What’s the link between handing over your zip code and getting a bunch of junk mail? Well, many

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