Friday, September 7, 2012

Mexico credit cards

Our ongoing series heads to Mexico for a look at credit card use and credit card statistics in the United States' neighbor to the south.

Credit card circulation booming
According to Mexico's central bank, there were about 22 million credit cards in circulation in Mexico as of mid-2007. That's more than triple the number from 2002.

The big players
Banamex is Mexico's largest credit card issuer at US$10 billion in purchase volume, followed by BBVA Bancomer (US$6.8 billion) and Banco Santander (US$4.2 billion). BBVA Bancomer (US$5.2 billion) and Banamex (US$4 billion) rule the debit card market (Nilson Report, April 2008).

Debt, delinquencies soaring
The Bank of Mexico said total consumer debt hit a record $39.1 billion in June 2007, double the total from two years before. Delinquencies hit 18.8 billion pesos in June 2008, up 28 percent from March, according to the country's central bank.

Interest rates hit ridiculous levels
The Bank of Mexico listed the average annual interest rate on Mexican credit cards in June 2007 as 31.72 percent.

Skimming -- a major problem
This form of credit card crime is reportedly a major issue in Mexico -- even at fine restaurants. It is enough of a concern for the U.S. State Department to address it on its Web site regarding travel in Mexico and advise tourists to "exercise caution."

Scope of fraud problem unclear
Recent numbers weren't readily available, and earlier data is inconsistent, but fraud is clearly a problem in Mexico. Some estimates say fraud losses hit a record $62 million in 2003, while others say it hit $85 million way back in 2001. Still, the consensus is that the problem's growing and will continue to do so as Mexico's card penetration grows.

Official tourism site
- VisitMexico.com

Financial news sites
- El Financiero
- El Economista
- Business News Americas

Indonesian personal financial blog
- Mexico Insight

President:Felipe Calder?n

Location: North America, bordered on the north by the United States and on the west by the Pacific Ocean (map)

Population: 109 million (July 2008)

Area: 761,606 sq mi or 1.97 million sq km (roughly 3 times the size of Texas)

GDP: $1.346 trillion (2007 estimate)

Currency: Indonesian rupiah (IDR)

Key exports: manufactured goods, oil, silver, fruits, vegetables, coffee, cotton

Famous Mexicans: Former president Benito Pablo Ju?rez Garc?a, actress Salma Hayek, artist Frida Kahlo and musician Carlos Santana

Source: http://www.creditcards.com/credit-card-news/credit-cards-around-the-world-mexico-1276.php?aid=2741cce8&rss_lnk=19

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40% of U.S. Mobile Users Will Click an Unsafe Link This Year

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A Changing of the Guard

151389348 Vice President Joe Biden speaks on stage during the final day of the Democratic National Convention

Photograph by Alex Wong/Getty Images.

Read the rest of Slate?s coverage of the Democratic National Convention.

The conventions these past two weeks?and particularly the final speeches Thursday night?have cemented the fact that the Democratic party is now the party of national-security policy; not just a wise or thoughtful foreign and military policy, but any kind of thinking whatsoever about matters beyond the water?s edge.

For anyone who?s followed American politics the past 40 years, since the election between George McGovern and Richard Nixon, this is a staggering shift.

It was the Democrats who talked Thursday night of their president?s ?backbone? and ?courage,? of the clear message he sent?as Vice President Joe Biden put it when talking about the raid on Osama bin Laden?s compound?that ?if you attack innocent Americans, we will follow you to the ends of the world.? By contrast, Biden recalled, Republican challenger Mitt Romney once said that it wasn?t worth ?moving heaven and earth, and spending billions of dollars, just to catch one person.?

More extraordinary still, it was the Democrats who saluted, mourned, and celebrated the ?fallen angels? and ?wounded warriors? of the U.S. military. Romney observed no such ritual, leaving Sen. John Kerry to note, in his speech Thursday night, never before had a wartime nominee for president, of either party, ?failed to pay tribute to our troops overseas in his acceptance speech.?

Not even the Republican convention?s foreign-policy surrogate, Condoleezza Rice, said much about the veterans?or anything at all about the Iraq or Afghanistan war, even though she had been George W. Bush?s most trusted foreign policy adviser for all eight years of his presidency and had thus played a big role in starting those wars.

The clearest sign of the change in party dynamics was this: The Democrats feel so assured in their new role as guardians of national defense that they also talked openly about seeking peace, negotiating arms-reduction treaties with the Russians (which Romney opposes on the flimsiest of grounds), withdrawing troops from Afghanistan and Iraq, and shifting money that was once spent on fighting wars to revitalizing our own cities?as Obama put it, ?to do some nation-building right here at home.?

Contrast this with the 2004 Democratic Convention, where Sen. Kerry, as the nominee, felt so desperate to prove his bona fides as a tough warrior?despite his very real record as a decorated Swift Boat officer in the Vietnam War?that he did not even mention (he felt it would be imprudent) his outspoken protest of the war as leader of the Vietnam Veterans Against the War when he returned from fighting.

Source: http://feeds.slate.com/click.phdo?i=50da9216344fa695520eedc4e20d077a

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Thursday, September 6, 2012

Director's College Event - Baseball and the College Classroom ...

Elizabeth Warren speech: Stirring, or a stretch of the facts?

Elizabeth Warren, who is running for the US Senate from Massachusetts, got the Democratic convention crowd excited Wednesday. But fact checkers found some points to dispute.?

By Peter Grier,?Staff writer / September 6, 2012

Elizabeth Warren, US Senate candidate from Massachusetts, waves to delegates after her speech at the Democratic National Convention in Charlotte, N.C., on Wednesday.

Charlie Neibergall/AP

Enlarge

Elizabeth Warren gave a stirring populist speech to the Democratic National Convention on Wednesday night. Currently much pundit discussion is focused on Bill Clinton?s defense of President Obama, and rightly so, but Ms. Warren ? the warmup act ? got some of the biggest cheers of the evening by attacking Wall Street and positioning herself as a champion of a beleaguered middle class.

Skip to next paragraph Peter Grier

Washington Editor

Peter Grier is The Christian Science Monitor's Washington editor. In this capacity, he helps direct coverage for the paper on most news events in the nation's capital.

Recent posts

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The bio of the Senate hopeful from Massachusetts, which includes a stint waiting tables at 13 and marriage at 19, gave her credibility with delegates on this issue. She talked about the middle class being hammered, and that people ?feel like the system is rigged against them.?

Then Warren chided Mitt Romney for saying ?corporations are people, my friend.? She brought the crowd to its feet by adding her own twist to this much-used Democratic attack.

?No, Governor Romney, corporations are not people,? said Warren. ?People have hearts, they have kids, they get jobs, they get sick, they cry, they dance. They live, they love, and they die.?

The last words of those lines were drowned out in the hall, inaudible over the roar of the audience.

But did Warren stretch some facts to make her charges? That?s what some independent fact checkers say. In particular, they?ve focused on her flat assertion that Romney?s economic plan raises taxes on middle-income earners.

Here?s the way Warren put it Wednesday night: Romney ?wants to give tax cuts to millionaires and billionaires. But for middle class families who are hanging by their fingernails? His plans will hammer them with a new tax hike of up to $2,000 dollars.?

She?s not the only Democrat who?s said this from the podium this week. Keynote speaker San Antonio Mayor Julian Castro said pretty much the same thing, for instance. The only problem is that strictly speaking it is not true, according to FactCheck.org.

?Democrats base their claim on a study that doesn?t necessarily lead to that conclusion,? says the FactCheck.org site.

Source: http://rss.csmonitor.com/~r/feeds/csm/~3/Txce1ZLMlCU/Elizabeth-Warren-speech-Stirring-or-a-stretch-of-the-facts

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Should You Get Auto Insurance When Traveling? - Car Insurance ...

You have scoured travel sites, bought your tickets, and packed your bags, but are you forgetting something? If you?re planning on renting a vehicle while on vacation, you may want to consider buying rental car insurance. This is something you should especially think about if you?re planning on renting and driving a vehicle while you?re in a foreign country.

What Does It Cover?

Rental car insurance usually includes the same protections as your regular car insurance, and many companies allow you to pick the specific coverage that you need. Your options vary depending on which provider you choose, but most companies offer the same basic selection.

  • Collision Damage Waiver: This is not insurance; it protects you from paying (up to a certain amount) if the car is involved in a collision.
  • Loss Damage Waiver: This is not insurance; it protects you from paying (up to a certain amount) if the car is lost or damaged.
  • Liability Insurance Supplement: This increases your regular car insurance liability to $1 million, and it protects you if other people try to sue you for damages as result of an accident.
  • Personal Accident Insurance: This provides coverage for your medical expenses if you are in an accident.
  • Personal Effects Coverage: This provides coverage for any personal property that is damaged or stolen while in the car.

Where Can You Get It?

  • Your regular home or car insurance provider
  • Your credit card company (if you use the card to rent the car)
  • The rental car company
  • Your travel insurance provider/roadside assistance organization

Should You Get It?

In order to answer this question, you need to do some investigation. Start by calling your current car insurance provider to find out if your policy already covers rental cars. If not, compare the rates of your company to those of your credit card and the rental car company. Then, think about how much time you will be in the car. Many drivers end up deciding that the added protection isn?t worth the cost. However, you should take into account that you will be driving an unfamiliar car in a new location, and if you?re traveling abroad, you will encounter strange road signs, different driving customs, and may even face the challenge of driving on the other side of the road.

Pros:

  • Gives you peace of mind
  • Protects your driving record so an accident on vacation doesn?t affect your regular insurance premiums
  • Can protect you from ?loss of use? fees that rental companies charge you if the car is damaged and out of commission for repairs

Cons:

  • Can be costly, especially if you buy directly from the rental car company.

If you do decide to purchase car insurance for your rental, remember to take proof of your policy with you on your trip. Also, if you are traveling to a foreign country, remember to do your research to ensure that your insurance meets the required minimum coverage.? Whatever you decide, make sure you are fully informed before you rent a car, and make sure you rent from a reputable company.

Source: http://www.carpolicy.ca/2012/09/should-you-get-auto-insurance-when-traveling/

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