MANILA -- Tempted to apply for a credit card? Make sure you do it for the right reasons. Before signing up for a credit card, check your motivations first. Are you sure you need it? Better be wise with your financial decisions. Here are 3 wrong reasons to get a credit card. For more finance tips, visit MoneyMax.ph. … [Read more...] about News Wrong Reasons to Get a Credit Card
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By Ken Sweet The Associated Press Mon., May 28, 2018 Credit card companies in the U.S. are taking the next step in using their points programs to influence what millions of customers buy, going as far as influencing what colour blender you might purchase. American Express is piloting a program that will allow merchants to reward customers for purchasing specific items at their stores, starting with online merchant Boxed. AmEx is starting small: giving bonus rewards points to Boxed customers who buy Dove soap, Planters nuts, Cheerios cereal and a handful of other items. But AmEx expects to open the program to nearly all their merchants in the coming months. Customers will benefit by expanding the number of ways they can earn points. The program also helps Amex, by giving merchants another reason to keep accepting American Express cards, which tend to be the most expensive for merchants to process. Credit card companies have long been able to reward spending at … [Read more...] about Credit cards narrow the focus of their targeting programs
source Matt Cardy/Getty Images For years, credit cards from JPMorgan Chase, Citigroup, and others have offered price protection, a benefit that refunds customers up to $500 if they buy an item and subsequently spot it cheaper somewhere else. Filing a claim was a laborious task, so few people ever did. Apps like Earny have emerged that use bots to automate the price-protection process, connecting with users’ email accounts to monitor purchases and hunt down refunds. Insiders say the rise of these tools and services has led to exponential growth in price-protection claims: “Nobody foresaw the onslaught of claims right now.” Citi recently revealed it would cut back on its price-protection offering, while Chase is planning to eliminate it entirely. Discover, which doesn’t work with apps like Earny, has cut other benefits but is keeping price … [Read more...] about For years, Chase and Citi credit cards offered a generous, under-the-radar benefit that protected customers. And then the bots arrived.
By The Canadian Press Tues., May 22, 2018 The Ontario Securities Commission says it has joined forces with securities regulators in the U.S. and Canada to warn investors about cryptocurrency-related investment schemes. Operation Cryptosweep included more than 40 provincial and territorial securities regulators. The North American Securities Administrators Association says the project has so far resulted in nearly 70 inquiries and investigations, and 35 pending or completed enforcement actions related to initial coin offerings or cryptocurrencies since the beginning of the month. OSC executive director Leslie Byberg says in a statement that investors should always check whether they are dealing with a registered individual or firm and carefully consider risks associated with investing in this novel space. The OSC recently warned Ontario investors about five firms — BTCReal, BitSerial, Hypercube Ventures LP, CabinCoin OU and BaapPay Inc. — that appear to be … [Read more...] about Dozens of North American securities regulators target cryptocurrency schemes
When you are shopping overseas or buying things from a foreign website, they may ask you what currency you would prefer to pay in - Singapore dollars (SGD) or the country's local currency (e.g. USD and Euros). Which do you choose? SGD? Wrong answer. You should always pay in the local currency of the place you're in or the website you are buying from. Why? The answer is in your credit card's terms and conditions document. Too lazy to read? We've summarised it for you. SGD OR LOCAL CURRENCY. THE ANSWER IS ALWAYS LOCAL CURRENCY! Overseas credit card transaction fees When you're making a transaction overseas, you have to pay some fees whether or not you make it in SGD or local currency. This may include charges applied by the payment network, bank administration, and/or merchant. 1. Transactions in foreign currency - Bank administrative charges, as well as charges put forth by card associations (such as Visa, Mastercard, American Express) The combined fees from most card issuers in … [Read more...] about Why you should always pay in local currency when shopping with your credit card overseas