Debit card risks that everyone should know about

According to the Federal Trade Commission your liability under federal law for unauthorized use of your ATM or debit card depends on how quickly you report the loss.

If you report  that your ATM or debit card is missing before it’s used without your permission, the Electronic Fund Transfer Act (EFTA) states that  the card issuer can’t hold you responsible for any unauthorized transactions.

If unauthorized transactions occur before you report it to the card issuer, your liability under federal law will vary depending on how quickly you report the loss.

According to the Federal Trade Commission:  “If you report the loss within two business days after you realize your card is missing, you will not be responsible for more than $50 for unauthorized use. However, if you don’t report the loss within two business days after you discover the loss, you could lose up to $500 because of an unauthorized transfer. You also risk unlimited loss if you fail to report an unauthorized transfer within 60 days after your bank statement containing unauthorized use is mailed to you. That means you could lose all the money in your bank account and the unused portion of your line of credit established for overdrafts. However, for unauthorized transfers involving only your debit card number (not the loss of the card), you are liable only for transfers that occur after 60 days following the mailing of your bank statement containing the unauthorized use and before you report the loss.”

For more information, visit the Federal Trade Commission’s Credit, ATM and Debit Cards web page

Rebates. Great way to save or just a marketing trick?

Rebates

If you’re a disciplined person rebates can be a great way to save.  The folks offering those rebates are betting that you won’t mail them in within the required period of time.  Their also betting that even if you mail in the rebate, you won’t  follow all of the instructions and/or remember to follow up later to make sure that you received your check.   The fact is that it’s  a safe bet for them a good amount of the time.

Most people believe that they’ll remember to mail in the rebate, but the fact is that life offers many interruptions and distractions and it’s  really easy to forget.

The moral of our rebate story:

If the only reason that you’re buying the product is because of the rebate,  figure out a way to alert yourself to follow up later.  You can do this on a wall calendar, PDA or just sticky notes posted in a location that you frequent often.  Also, be sure to read all of the instructions carefully and follow them carefully.

How to get a cheap starbucks mocha coffee

Step I.  Order a Grande Pike Place  (or whatever you like that they have on tap) coffee in a Venti sized cup to allow extra room for other stuff.

Step II.  Fill in the empty space with the free half and half that they provide at the  creamer/sugar/napkins counter.

Step III.  Add in the provided Chocolate/Mocha power provided free.

Step IV.  Add in sugar.

Step V.    Stir well and enjoy!

There you have it.  You’ve now created your own creamy, chocolaty and sweet simulated mocha coffee for significantly less money and probably much less time waiting for the fancier version to be made.