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GreenPath Debt Solutions recently released statistics and consumer feedback concerning some of the Credit Card Act changes that went into effect three months ago on February 22.

When statement holders saw how long it would take to pay off their balance by making the minimum payments, many were inclined to reach out to learn more about effective debt management.

Since the phone number and grid started to appear on credit card statements in February, GreenPath Debt Solutions has received more than 14,000 calls from consumers who said they called the number on their statement.

Following is some feedback from credit counselors

* Callers say that credit card statements are now much easier to read. They are finally getting the nudge that they need to seek education on personal finances and debt issues.

• Callers are often feeling lost and even embarrassed over their situation.

• Often it is the first time they have spoke with anyone about their situation.

• What’s really impressing card holders is the table that indicates how long before the debt is paid off if they only make the minimum payment.

• Some callers are just shopping around and comparing their interest rates to what GreenPath can offer on a debt management program.

• Callers are showing a newfound awareness and preoccupation with interest rates. All of a sudden, clients are aware of the APR and how just making the minimum payments is not an adequate action plan to managing the debt.

• More people seem more motivated to get out of debt. The payoff box on their credit card statement has really been shocking clients into doing something about their debt. Especially for those who see it will take them 20 years or more to pay off their card at the minimum payment.

• Most callers are ready to take action and want to focus on reducing their interest rates.

• The convenience of having a phone number documented on credit card statements is a big help because many consumers are always on the go and don’t have the time to complete their own research.

For more information, visit greenpath.com.

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Around the world, books, clothes and music are popular items to buy on the Web, according to a new global online shopping study conducted by Survey Sampling International (SSI) among 20 – 39 year olds in the US, Brazil, China, Japan and the Netherlands. The majority of respondents in China (70%) and Japan (60%) purchase books on the Internet, while almost half of participants in Brazil and the Netherlands do their book shopping online. In the US, books are also a common online purchase — second only to music — with 42% of survey participants reporting they buy books on the Web.

While books are popular with Internet shoppers, clothes are also a major online category. In fact, in China, clothes are the most common Web purchase. Three-quarters of Chinese respondents say that they purchase their outfits online — more than in any other country studied. In the Netherlands, just under half of participants report buying outfits on the Internet — tying with books as the most common item people buy online. Clothing is also a dominant online category in Japan — second only to books — with 45% of respondents shopping for apparel on the Web. In addition, clothing is a top-three online purchase in the US.

Music is also an important online category. It ranks #1 in the US (44%), #2 in the Netherlands (36%) and #4 in Japan (38%). It is less dominant in China and Brazil, though about a quarter of respondents in both countries buy music online.

In spite of the many commonalities in shopping preferences among countries, there also are some key differences. For example, in China and Japan, almost 40% of respondents buy food for their daily meals online. This is in sharp contrast to the US (13%), Brazil (7%) and the Netherlands (4%), where relatively few people shop for daily meals online.

In addition, almost half of Chinese respondents and a third of Japanese respondents buy cosmetics online. In the US and Brazil, only about a quarter of online shoppers buy cosmetics on the Web — and in the Netherlands, just 9% purchase makeup online.

Digital equipment is another category where there are marked geographic differences. Close to half of online shoppers in China and Brazil purchase digital equipment on the Internet. This is a far greater number than the US (38%), the Netherlands (30%) or Japan (26%).*

*Respondents could select multiple items they purchase online.

For more information, visit surveysampling.com.

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Wells Fargo & Company (NYSE: WFC) and Visa Inc. (NYSE:V) recently announced the rollout of Rapid Alerts for Wells Fargo Visa credit cardholders. The free service allows consumers to better manage and track their spending while providing them with near real-time¹ detection of potentially fraudulent activity.

Rapid Alerts by Wells Fargo are enabled by Visa’s transaction alerts platform. Alerts are sent on behalf of Wells Fargo directly from VisaNet, Visa’s global processing network, typically within seconds of a transaction occurring. Rapid Alerts are triggered when the transaction meets certain criteria previously selected by the Wells Fargo Visa account holder and delivered via text message or e-mail. Rapid Alerts let consumers monitor their Wells Fargo Visa credit card account activity and take immediate action if they believe a potentially fraudulent transaction is taking place.

Rapid Alert messages contain the amount, time and date of the transaction, as well as currency conversion and information relating to the merchant, such as name and location. Rapid Alert messages help customers track their spending and better manage their finances. Customers also will be alerted to Wells Fargo Visa credit card payments that are declined, which may also help remind customers of recurring payments that they forgot to update due to a reissued, lost or stolen card.

For more information, visit wellsfargo.com.

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Credit Union ONE recently presented a check for $17,000 to the Karmanos Cancer Institute – bringing its fundraising total to more than $1.2 million over the past 23 years, with $400,000 raised just through the credit union’s Affinity Card program since it was Credit Union ONE’s most recent donation has gone towards the purchase of a new bladder scanner.

Through Credit Union ONE’s Affinity Card program, the credit union and Karmanos share income generated by cardholder transactions. Other fundraising monies have come from a new member initiative created by Credit Union ONE several years ago. Credit Union ONE made a pledge of $400,000 in 2005 with its “Building a Cancer Free Future” campaign plus $100,000 for the Nurse Mentorship Hispanic Breast Outreach Program.

The credit union also has supported several other aspects of Karmanos’ research fundraising efforts, including the Gail Purtan Ovarian Cancer Research Fund, special events through the Karmanos Annual Dinner and Partners, as well as third party fundraising events and Karmanos’ population studies program.

Credit Union ONE, headquartered in Ferndale, is a full service financial institution offering an array of consumer and commercial financial services. Gary Moody, president and chief executive officer of Credit Union ONE, said the credit union is humbled to be part of the cutting-edge cancer research taking place at Karmanos.

For more information, visit karmanos.org.

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