Furious British Airways customers have been left having to cancel their credit cards after a 15-day data breach compromised around 380,000 card payments. The airline admitted "criminal activity" had compromised the personal and financial details of customers who made bookings on its website or app from just before 11pm on August 21 until 9.45pm on Wednesday. It is thought the number of payments compromised could be up to 400,000 and BA confirmed Friday morning hackers had obtained names, addresses, credit card numbers, expiry dates and the three-digit security codes on the backs of cards - plenty to make a fraudulent payment. Alex Cruz, BA's chairman, revealed the hackers were "very sophisticated criminals" who had not hacked the company's encrypted data, but rather gained "illicit access" to the airline's system. This meant the breach went unnoticed for more than two weeks and now customers are scrambling to cancel their cards. Daniel Willis, 34, from Milton … [Read more...] about British Airways hacking: Customers cancel credit cards as airline defends handling of ‘sophisticated’ cyber attack
How do refunds work on credit cards
BARCLAYCARD has announced that it is changing the way it collects interest on some of its credit cards, in a bid to make charges more transparent for customers. The changes will apply to cards that have a promotional period, such as 0 per cent balance transfer cards, 0 per cent money transfer cards, and cards with interest-free purchases for a set period of time. What is Barclaycard changing? Complex rules mean that lots of people with 0 per cent cards are getting stung by confusing fees, often inadvertently waiving their promotional deal. The way it works at most banks (including Barclaycard until now) is that if you use your card for something outside the promotion, for instance shopping with a balance-transfer card, you could end up being charged interest on the whole lot. Imagine you’ve transferred £1,000 on a balance transfer card with a 0 per cent interest deal for 18 months. If you also used that card to pay £500 towards a holiday, you’d lose the 0 per cent … [Read more...] about Barclaycard is scrapping interest charges on THESE cards – but there’s a catch
Robert Powell Special to USA TODAY Published 11:43 p.m. UTC Jul 18, 2018 Question: I’m 64. My credit score is about 656. For different reasons over a long period of time — including unemployment and health issues — I accumulated credit card debt of about $50,000. I intend to take out an unsecured personal loan, but I don’t want it to have a negative impact on my credit score. I have a job now and I will pay my monthly payments on time. But what will happen if I cannot continue my payments to the lender? If I should file for bankruptcy, which is worse: defaulting on credit card debt or an unsecured personal loan? If I try to negotiate a reduction of my debt with the creditors, do you think this procedure will be successful and not take too long? And what is a nonprofit debt relief company/agency, and how could they help me? Bottom line: What strategy would you implement to resolve the debt problem if you were in my … [Read more...] about How do I get out of $50,000 in credit card debt: personal loan or repayment plan?
YOU'VE already started counting the days until you jet off to the beach - but have you given any thought to which debit card you are going to use while away? Using the wrong plastic abroad comes with hefty fees which can be a nasty surprise when your next statement rolls round. Here's what you need to know. Why can't I use my normal credit card for spending when I'm abroad? No one is stopping you from using it. But if you do, it's likely you'll be hit by a host of hidden charges. There are lots of different fees to be aware of, according to Andrew Hagger of personal finance website MoneyComms. One of the most common ones is something called a "non sterling transaction fee." This will typically add up to 3 per cent to the cost of any purchases you make when abroad. You should also avoid withdrawing cash on a credit card unless you have to or you'll also have to count in the ATM withdrawal charge - typically between £1.50 and £5.00. To make matter worse some cards … [Read more...] about The credit cards that will rip you off if you use them on holiday
SHOPPERS are being warned not to fall for a text messages which claim to be from Argos but are actually a phishing scam. The texts tell the user that they are owed a refund on their Argos credit card but actually it's an attempt to steal your bank details. The text messages say: "Your Argos credit card has a refund of £270 from an over payment." Then it asks you to follow a link in order to get the money back. But instead of taking you to a genuine website, the link directs the victim to a fake one run by scammers who try to get you to hand over your bank details. The texts can be even more convincing because they can come through on the same thread that genuine messages from the store have previously come through on. How to spot a fake text messageIF you've received an email or text message claiming to be from your bank or a retailer, then these are the things you should look out for: Your bank or the retailer will always address a customer by name They will never ask a customer … [Read more...] about Shoppers warned about fake scam texts offering Argos credit card refunds