It's Friday again, and that means it's time for the weekly SpendOnLife grab bag post. Here we share some of the week's more interesting tidbits from the world of credit and identity theft. Enjoy!
A gas station in Panola County, MS apparently reused receipt paper, inadvertently sharing the complete credit card information (full 16 digits, name, birth date, and address) of hundreds of customers. The company that owns the gas station has yet to notify the victims or offer them any credit monitoring compensation. Click here or the photo at left to see local news video coverage.
If you’re a small business owner who knows you keep your customer information safe from identity thieves, you still must comply with the recent Red Flags Rules. The FTC has published a 4-step process to help you get Red-Flag compliant – it’s aimed specifically at those businesses that already have a low risk of ID theft.
Forbes has just put out its list of the cities that have the highest credit card debt. They calculated the results by looking at each city’s average household credit card balances compared to the average household income in the area. Florida takes the cake - Miami, Tampa, Jacksonville, and Orlando all fall into the top five. The average Miamian, for instance, would have to spend 23% of her yearly salary to pay off her credit cards in full.
The average TransUnion credit score is now 651, down from 657 at the end of 2008. California and Arizona saw the steepest drops of 10 points and 11 points, respectively. The average drop is mainly due to increased delinquencies hitting consumer credit reports. Experts believe it may not be until the end of 2010 before scores start rising again.
Thanks to our friends at WiseBread for compiling 64 interesting and funny quotes all about the money. My favorite? “If you think nobody cares if you're alive, try missing a couple of car payments." - Earl Wilson