Professional hackers broke into retailer TJX’s system in 2007 and stole nearly 100 million customer records. Now, another group of professionals has struck again and put thousands of additional consumers at risk for identity theft or credit card fraud.
Heartland Payment Systems, one of the country’s largest credit card processors, recently announced a security breach that may end up putting the TJX fiasco to shame. Heartland processes more than 100 million transactions per month for approximately 175,000 merchants, and it appears its system may have been breached for several months before the company was tipped off by Visa and Mastercard due to suspicious transactions. Heartland President, Robert Baldwin, actually used the words “longer than weeks” when describing the length of the security breach in an interview with USA TODAY. Longer than weeks? Read the rest of this entry »
Author: Joshua Heckathorn, Date posted: January 26th, 2009
Category: Credit News, Credit Scores
We truly experienced a historic moment this afternoon as Barack Obama was sworn in as the 44th President of the United States and the first African-American to hold our country’s highest elected office.
His sobering speech about where America stands and where it can be in the future had a much different tone than many he delivered during the campaign. I could practically feel the weight of the world upon his shoulders, and I could certainly see it in his face as he emerged from the Capitol to the cheers of nearly two million people gathered on the National Mall. Yes, it’s clear he means business, but real change will take time. And one man can only do so much. So, where will the Obama administration begin? Read the rest of this entry »
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Author: Joshua Heckathorn, Date posted: January 20th, 2009
Category: Credit Crisis, Credit News, Miscellaneous
A name I don’t see too often in articles about credit and debt caught my eye today while skimming through RSS feeds. Roberto Cavalli, the world-renowned designer and master of animal prints, recently announced he has taken his mission to “create a planet” around the Cavalli brand to a whole new level.
Of course, the mission of any successful designer doesn’t stop at just getting his clothes on your back. It’s really about creating a lifestyle that includes the brand in all facets of one’s life. So, at a time when even high-end luxury retail is feeling the hurt, Cavalli now wants to be in your wallet too. The “Cavalli Card”, pictured above, is set to launch at a special event on March 1st in conjunction with the Milan Fashion Week. Read the rest of this entry »
Author: Joshua Heckathorn, Date posted: January 9th, 2009
Category: Credit Card Reviews, Credit Cards, Credit News, Miscellaneous
Not only has the credit crunch made it more difficult to obtain practically all types of credit, but Fair Isaac, developer of the well-known FICO score, has also announced the biggest change to their credit scoring model since 1989. So, prepare yourself now, because it will be more important than ever in 2009 to understand how everyday financial decisions will affect your credit score.
In fact, Equifax and TransUnion are on track to implement the new FICO scoring model by late spring. Of course, it’s too early to tell how many lenders will start using the new model right away. It could be several months or even 2010 before many make the switch. Read the rest of this entry »
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Author: Joshua Heckathorn, Date posted: January 2nd, 2009
Category: Credit Crisis, Credit News, Credit Scores, Miscellaneous
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