| 14-11-2007: AEON Credit to launch prospectus on Friday
KUALA LUMPUR: AEON Credit Service (M) Bhd, en-route to be Malaysia's first Main Board-listed non-banking consumer finance company, will launch its prospectus on Friday. In a statement yesterday, the company which issues credit cards mainly to Jaya Jusco departmental store patrons, said it would raise RM55 million by selling 22 million new shares at RM2.50 apiece. The money will be used for asset investments, the repayment of bank borrowings and working capital. The company, which also offers easy-payment schemes and personal financing packages, expects to be listed in mid-December. The proposed listing also involves an offer for sale of 20 million existing shares by its promoter, The AEON Group of Japan. AEON Credit Japan is one of the biggest credit card issuers in Japan with more than 14.8 million card members there.
Long-Awaited Visa Offering Tests The Power Of Plastic
When Visa filed its initial prospectus Nov. 9, it wasn't exactly a surprise. But it caused excitement nonetheless. It's been more than a year since the world's No. 1 credit-card brand announced it was planning to go public, and that was after months of rumors. The reason why wasn't exactly a secret. In May of last year, MasterCard (NYSE:MA - News) pulled off 2006's most lucrative IPO, and only saw improvement thereafter. Now it's trading five times its initial offering price. Still, Visa couldn't rush in on its main rival's coattails. Like MasterCard, it wasn't originally a corporation at all, but a sort of cooperative run by its member banks. It wasn't until May of this year that Visa formally incorporated, headed by all-new leadership. The time lapse, however, means that Visa is entering a quite different market from MasterCard.
Careful monitoring best response to leak
I work for a large company that recently notified me of a privacy breach in which some of my personal information -- including my name, Social Security number, address, bank account number and birth date -- may have been exposed. The company offered free credit monitoring for two years, which I signed up for, and identity theft insurance. Do you recommend that I take any additional measures to safeguard my identity, such as closing and reopening bank accounts and credit card accounts under new numbers? Though this would be a tremendous hassle, I'm sure it doesn't compare to the havoc of having my identity stolen. Privacy breaches turn out to be nonevents for the vast majority of people whose information has been exposed. Sometimes the criminals are after something other than information, such as when laptops are stolen for their resale value rather than the sensitive data they contain.
Live within your income, not within your credit limit to avoid finance trap
Remember the euphoric rush we felt when we got our first unsolicited offer of a "pre-approved" credit card? Well, all over Fairbanks tomorrow the postal carriers will be delivering that same "rush" to thousands of unsuspecting high school and college students over 18 years old (the legal age to contract). I polled one of my classes last week and every single student got at least one offer and one student received five — in that week alone! Why on earth would credit card companies offer poor broke students credit cards? The reason is (insert drum roll here) students like to own "stuff" and are sure to use the card. Those who offer unsolicited credit cards, for the most part, aren't really banks or credit unions, they are finance companies and they make lots of money from merchants when their cards are used in addition to huge interest payments and fees on top of fees when balances aren't paid in full, go over the limit, or are paid late.
Which Way is Your Business Headed? New Credit-Wisdom.com Offers Businesses Unique Experience
Credit-wisdom.com has launched, offering businesses the ability to grow their buying power through a variety of business credit card product offerings. Maitland, FL (PRWEB) October 30, 2007 -- Credit-wisdom.com has launched, offering businesses the ability to grow their buying power through a variety of business credit card product offerings. Headed by Richard Gilliland, CEO, it is literally a "one stop" place to apply for credit cards from American Express, Citi, Discover, Bank of America, Advanta and Chase. Also offered are a variety of secured and unsecured business credit cards. .
Secured card a good way to get started in the credit game
With the holiday shopping season upon us you can expect more people to turn to the Internet in search of bargains. But before you do, you really need to have a credit card. Unfortunately, some people can't get one either because they don't have any credit or because they have bad credit. But there's something you can do. Many local banks offer something called a secured credit card, which offers the same safety and security as a regular credit card. That's something you can't always get when you pay with a check or debit card. The amount you can charge on your credit card depends on how much you put into a savings account with the bank. "You would secure your limit with a balance which is tied to your savings account," said Kristel Johnson of Fifth Third Bank.
Russian national faces sentencing in probe of massive ATM scheme
OREGON CITY (AP) - Wells Fargo Bank depositors began complaining in February about money missing from their accounts.For months, bank employees matched the complaints to ATM withdrawals in California. The same man appeared repeatedly in surveillance photos, linking him to nearly 400 victims and $463,000 in missing money.At the same time, agents from the U.S. Secret Service and the Manhattan district attorney’s identity theft unit in New York were tracking a network of tech-savvy identity thieves believed responsible for 95,000 stolen credit card numbers and more than $4 million in ID theft.It all came together May 30 in Oregon, when a check-cashing teller in the town of Clackamas recognized Eduard Kholstinin, a 30-year-old Russian national.His capture offered new insight into cybercrime, which accounts for $67.2 billion stolen each year from U.S.
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