Monday, August 5, 2013

They're frying food on China's streets

A child demonstrates how raw shrimp and an egg are fried in a pan on a manhole cover on a hot summer day in Jinan in east China's Shandong province.

It's been so hot in China that people are grilling shrimp on manhole covers, eggs are hatching without incubators and a highway billboard has mysteriously caught fire by itself.

The heat wave ? the worst in at least 140 years in some parts ? haspushed thermometers above 104 degrees in at least 40 cities and counties, mostly in the south and east. Authorities for the first time have declared the heat a "level 2" weather emergency ? a label normally invoked for typhoons and flooding.

"It is just hot! Like in a food steamer!" 17-year-old student Xu Sichen said outside the doors of a shopping mall in the southern financial hub of Shanghai while her friend He Jiali, also 17, complained that her mobile phone had in recent days turned into a "grenade."

"I'm so worried that the phone will explode while I'm using it," He said.

Extreme heat began hitting Shanghai and several eastern and southern provinces in early July and is expected to grip much of China through mid-August.

Shanghai set its record high temperature of 105 degrees on July 26, and Thursday's heat marked the city's 28th day above 100 degrees.

Climate scientists usually caution that they can't attribute a single weather event like the Chinese heat wave to man-made global warming. But "human-caused warming sure ups the odds of heat waves like this one," said Jonathan Overpeck of the University of Arizona. The Chinese heat wave "gives a very real face to what global warming is all about," he wrote in an email.

"This is the future. Get used to it," Andrew Dressler of Texas A&M University told The Associated Press by email. "You often hear people say, 'Oh, we'll just adapt to the changing climate.' It turns out that that's a lot harder than it sounds, as the people in China are finding out now."

Wu Guiyun, 50, who has a part-time job making food deliveries in Shanghai, said she has been trying to linger inside air-conditioned offices for as long as possible whenever she brings in a takeout order. Outside, she said: "It's so hot that I can hardly breathe."

The highest temperature overall was recorded in the eastern city of Fenghua, which recorded its historic high of 109 degrees on July 24.

On Tuesday, the director of the China Meteorological Administration activated a "level 2" emergency response to the persistent heat wave. This level requires around-the-clock staffing, the establishment of an emergency command center and frequent briefings.

Some Chinese in heat-stricken cities have been cooking shrimps, eggs and bacon in skillets placed directly on manhole covers or on road pavement that has in some cases heated up to 140 degrees.

In one photo displayed prominently in the China Daily newspaper, a boy tended to shrimps and an egg in a pan over a manhole cover in eastern Chinese city of Jinan.

In the port city of Ningbo in Zhejiang province, glass has cracked in the heat, vehicles have self-combusted, and a highway billboard caught fire by itself, sending up black smoke in the air, according to China Central Television. The broadcaster said the heat might have shorted an electrical circuit on the billboard.

In the southern province of Hunan, a housewife grabbed several eggs stored at room temperature only to find half-hatched chicks, state media reported.

A joke making the rounds: The only difference between me and barbequed meat is a little bit of cumin.

Critical thinking challenge: How can manhole covers get hotter than the air temperature?


- Posted on August 3, 2013

Source: http://tweentribune.com/tween78/theyre-frying-food-chinas-streets

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Sports ? Franklin wins 5th gold, Ledecky sets another world record

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Source: www.japantoday.com --- Saturday, August 03, 2013
Missy Franklin got back to winning at the world swimming championships, and now she's joined a very elite club. Franklin won her fifth gold medal of the championships with an easy victory in the 200-meter backstroke Saturday, tying the record for most titles by a woman at the biennial world? ...

Source: http://www.japantoday.com/category/sports/view/franklin-wins-5th-gold-ledecky-sets-another-world-record

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You'll Wish You Had a Reason to Make This DIY Magnet Vacuum

Having to sweep up thousands of tiny metal shavings is admittedly a pretty uncommon chore. But doing it by using a super powerful neodymium magnet to just suck it all up and drop it in a box looks like such a freakin' blast. I'd take that over washing dishes any day.

Read more...

Source: http://gizmodo.com/youll-wish-you-had-a-reason-to-make-this-diy-magnet-va-1015042265

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Shoppers pull out their wallets for Florida's sales-tax holiday

Rodney Smith walked through a BestBuy in Tampa on Friday with a $199 external hard drive under each arm.

"I'm on my way to look at a new Samsung tablet, all tax free," Smith said. "I've got a print-out list of what's tax-free, just in case someone questions me."

Smith, and hordes of other shoppers, packed the stores on Friday, the first of a three-day sprint when the state of Florida is waiving sales taxes on school supplies, clothes and many electronics. Saving 7 percent on a pair of shorts may be one thing, but this year the state added personal computers, tablets and accessories of $750 or less apiece to the list of tax-exempt items.

That immediately boosted foot traffic at BestBuy by a factor of three or four, said store manager Ricardo Raposo. "This weekend," he said, "that's when it will get really busy."

Originally envisioned by politicians as a family-friendly perk, Florida's tax-free weekend has come and gone over the years, depending on the state's budget and the political winds at the moment. This year, there was enough political horsepower to open the tax-free floodgates.

Retailers pounced at the chance, and piled on the marketing.

Tyrone Square Mall in Pinellas extended hours during the weekend, to 10 p.m. on Friday and Saturday night and 8 p.m. Sunday to help shoppers, said mall director of marketing and business development Pam Kluge.

"We're seeing huge traffic," she said. "Any store with kids or teen clothing especially, H&M, Forever 21, American Eagle, Aeropostale and Justice."

WestShore Plaza mall is giving out $25 gift cards to anyone who spends $250 or more in one day - on anything, including clothes, dinners at the restaurants, movies at the theater or appliances at Sears. Gymboree launched extra sales on casual clothes and uniforms. BestBuy is giving an escalating series of gift cards - $10 for a $100 purchase, $50 for a $500 purchase and $100 for a $1,000 purchase. Walmart, Target, Office Depot and loads of other merchants have extra sales going this weekend.

Old Navy scheduled a half-dozen extra employees to work the weekend, said Assistant Store Manager Boni Madera. "People were already waiting when we opened the doors today," she said. "By far, uniforms are the most popular."

Some independent merchants are also getting in on the tax-free action.

The Growing Up children's store in downtown St. Petersburg found that one of their biggest products would be tax-free: Cloth diapers.

"Somehow, they ended up being covered as apparel," said store owner Melane Nelson. "A lot of parents just starting up with a cloth diaper setup will spend between $300 and $500, so that tax savings is a big deal for them."

Nelson started marketing heavily through last week, and said she's already seeing bigger foot traffic on Friday for their hand-made clothing and "bento" lunchboxes with divided sections inside so parents can avoid plastic baggies. "Saturday will be our bigger day because we have a Cloth Diaper 101 class for parents."

For those who avoid the mall, there's good news. Online merchants should also have their systems set up to waive sales taxes. Some online retailers are already tax-free anyway, including Amazon, because they have no physical presence in Florida and don't collect state sales taxes. But at least for Apple and other big online sellers, there shouldn't be tax on qualifying items. (With Apple, sales tax will appear in your digital shopping cart and during the checkout process. The correct no-tax amount will appear when you receive your E-mail order confirmation.)

Hoping to avoid at least some of the crowds, Michelle Bremer came to WestShore Plaza mall as soon as she could on Friday morning, and hit both Old Navy and Gymboree before her two kids needed a break at the playground area.

"I'm so lucky that I'm a stay-at-home Mom with this," she said. "I could get here Friday, before everyone - all the madness - Saturday."

A few things to keep in mind:

* The tax-free holiday goes from Friday 12:01 a.m. to midnight Sunday.

* New items on the tax-free list this year: Personal computers, tablets and accessories such as keyboards and monitors with a price tag of $750 or less.

* Bonus: The tax holiday also applies to e-readers.

* Sorry: That doesn't include cellphones, video game consoles, digital media receivers or devices not primarily designed to process data.

* No kids? No problem: The holiday applies to any approved purchases, whether you have a kid or not.

* Apparel: Everything from shirts and shoes with a price tag of $75 or less to backpacks and hats. Even diaper bags are tax-free during the holiday.

* Supplies: Any school supply item priced at $15 or less.

* Online: You also can order online during that period, tax-free, as long as the retailer is set up to process the transactions. Even if the item won't arrive for days, as long as you bought it during the holiday period, it should still be tax free.

* Not tax-free: "Clothing" does not include accessories or equipment such as watches, jewelry, umbrellas, handkerchiefs or sporting gear.

* Details: A full list of eligible items is online at dor.myflorida.com/dor/pdf/sales_tax_holiday_list_of_items.pdf

rmullins@tampatrib.com

(813) 259-7919

Twitter: @DailyDeadline

Source: http://feedproxy.google.com/~r/tbo/news/~3/3HU81olwVnA/

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Credit card statistics, debt statistics, industry facts

By Daniel P.?Ray?and?Yasmin?Ghahremani

Credit-card-statistics-road-map This page contains consumer credit and debt statistics -- including statistics on credit card debt, credit card delinquencies, credit scores, credit card interest rates, debit cards, prepaid cards, bankruptcies and more -- compiled by the CreditCards.com staff. Statistics on this page will be updated regularly as we receive new or updated data.? Some data may appear multiple times on the page because the information?applies to multiple categories.

If you have credit card statistics that you'd like to share, or if you have a question, comment or concern about what has or hasn't been included on the page, please e-mail us at Editors@CreditCards.com.

?
  • Average credit card debt per U.S. adult, excluding zero-balance cards and store cards: $4,878.43
  • Average debt per credit card that usually carries a balance: $8,220.44
  • Average debt per credit card that doesn't usually carry a balance: $1,037.44
  • Average number of cards held by cardholders: 3.7 as of the end of 2009.1
  • Average APR on credit card with a balance on it: 13.01 in Q1, 2013.9
  • Total U.S. outstanding revolving debt: $856.5 billion as of May 2013.9
  • Total U.S. outstanding consumer debt: $2.8 trillion as of May 2013.9
  • Charge-off rate on credit card loans from top 100 banks: 3.87 percent as of Q1 2013. 2
  • ?

  • Total nonbusiness bankruptcy filings in 2012: 1.18 million, down from 1.36 million in 2011.26
  • Total business bankruptcy filings in 2012: 40,075, down from 47,806 in 2011.26
  • ?

Business credit cards

  • 37 percent of small-businesses say their businesses have relied on credit cards to meet capital needs in the 12 months prior to May 2012.18
  • 44 percent of small-business owners say the terms of their business credit cards got worse in the 12 months prior to May 2012.18
  • 50 percent of small-business owners surveyed in May 2012 said they pay off their business credit cards every month.18
  • 26 percent of small-business owners surveyed in May 2012 said they carry a balance of less than $10,000 on their business credit cards.18
  • 15 percent of small-business owners surveyed in May 2012 said they carry a balance of $10,000 to $25,000 on their business credit cards.18
  • 9 percent of small-business owners surveyed in May 2012 said they carry a balance of more than $25,000 on their business credit cards.18
  • 5 percent of small-business owners surveyed in May 2012 said that in the past four years they had closed their credit cards and switched to debit cards exclusively.18
  • Small-business owners surveyed in May 2012 reported an average interest rate of 15.6 percent on their business credit cards.18
  • 80 percent of business cards reviewed between 2006 and 2011 included an ?any time? change-in-terms clause with no right to opt out, which gives the bank issuers the right to change account terms at any time with little or no notice.22
  • 84 percent of business cards reviewed between 2006 and 2011 gave issuers the sole power to apply payments to low-rate balances first.22
  • 67 percent of business cards reviewed between 2006 and 2011 included penalty rates for late payments or overlimit transactions.22
  • 73 percent of business cards reviewed between 2006 and 2011 included a late fee, with a median amount of $39, while 67 percent included an overlimit fee, with a median amount of $39.22
  • In 2011, approximately 58.8 percent of small businesses used a business credit card while 43.5 percent used a personal credit card for business purposes.28
  • In 2011, 20.3 percent of small businesses that used business credit cards carried a balance.28
  • In 2011, 32.2 percent of small businesses that used personal credit cards for business carried a balance.28
  • In 2011, business use of personal credit cards decreased as firm size increased, whereas the use of business credit cards increased with firm size.28

??Card ownership

  • Average number of credit cards consumers had in 2012: 1.96.7
  • Average number of credit cards held by cardholders at the end of 2009: 3.7.1
  • The percentage of consumers who had at least one credit card was 72.2 percent at the end of 2009, compared with 77 percent who had at least one debit card and 32.3 percent with at least one prepaid card.1
  • In 2009, the average credit card adopter had 2.1 general purpose cards, 0.4 charge cards, and 1.2 branded credit cards.1
  • Of the 3.7 credit cards held by the average adopter, two cards earned rewards and 1.8 cards did not. (These numbers do not sum exactly to 3.7, due to rounding error.) 1
  • Percentage of consumers who had a contactless payment card or similar device in 2009: 24 percent. Of those, approximately 9.6 percent were attached to credit cards, 11.3 percent were attached to debit cards and 2.6 percent were attached to prepaid cards.1
  • Percentage of students who owned a credit card in 2012: 35 percent, down from 42 percent in 2010. Of the students with credit cards, more than 75 percent had them in their own name in 2012, a similar percentage as in 2011.11
  • Percentage of college freshmen with a credit card in 2012: 21 percent.11
  • Percentage of college sophomores with a credit card in 2012: 28 percent.11
  • Percentage of college juniors with a credit card in 2012: 38 percent.11
  • Percentage of college seniors with a credit card in 2012: 60 percent.11
  • Percentage of students from high-income families that owned a credit card in 2012: 53.11
  • Percentage of students from middle-income families that owned a credit card in 2012: 31.11
  • Percentage of students from low-income families that owned a credit card in 2012: 29.11
  • Families with four or more credit cards: 32.7 percent in 2010, down from 35 percent in 2007.15
  • Americans who were rejected for a new credit card in 2012: 7 percent, up from 4 percent in 2011.27
  • Americans over 18 years old with no credit card in 2012: 26 percent. Approximately 34 percent of survey respondents age 18 to 49 said they had no credit cards compared to 16 percent of those age 50 and over.33
  • Americans over 18 years old with one credit card in 2012: 20percent.33
  • Americans over 18 years old with two or three credit cards in 2012: 33 percent.33
  • Americans over 18 years old with four or more credit cards in 2012: 20 percent.33
  • Approximately 27 percent of survey respondents age 50 and over reported in 2012 that they had four or more credit cards, compared with 16 percent of those age 18 to 49. 33

??Credit and charge card circulation

  • American Express: 52.1 million cards in the United States and 51.1 million in the rest of the world as of March 31, 2013.50
  • MasterCard credit and charge: 178 million cards in the United States and 544 million cards in the rest of the world as of March 31, 2013.48
  • Visa credit: 277 million cards in the United States and 518 million cards in the rest of the world as of March 31, 2013.51

??Credit availability

  • Average number of open credit cards consumers had in 2012: 1.96.7
  • Average percentage of credit Americans had available in 2012: 70.51 percent.7
  • 39 percent of low- and middle-income households faced tighter credit, such as having cards canceled, credit limits reduced or credit card applications denied, between March 2009 and March 2012.19
  • Demand for consumer credit grew 21.4 percent in Q2 2012 from the same period a year earlier.30

??Credit card debt

  • Average credit card debt per U.S. adult, excluding zero-balance cards and store cards: $4,878.43
  • Average debt per credit card that usually carries a balance: $8,220.44
  • Average debt per credit card that doesn't usually carry a balance: $1,037.44
  • Americans who carried credit card debt from month to month as of March 2012: 39 percent.27
  • One-third of student credit cards had a zero balance in the 2011-2012 school year. Another 41 percent of families reported student card balances of less than $500. Only 3 percent carried a balance greater than $4,000. 11
  • The average outstanding credit card balance of college students reported in 2011-2012 was $755. 11
  • High-income students had lower credit card balances on average in 2011-2012 -- $521 compared with $755 in the general student population.11
  • Of the 68 percent of families with credit cards in 2010, only 55.1 percent had a balance, down from 2007 when 72.9 percent had cards and 61 percent had an outstanding balance.15
  • 26 percent of small-business owners carry a balance of less than $10,000 on their business credit cards.18
  • 15 percent of small-business owners carry a balance of $10,000 to $25,000 on their business credit cards.18
  • 9 percent of small-business owners carry a balance of more than $25,000 on their business credit cards.18
  • In 2012, the average credit card debt among low- and middle-income households carrying credit card debt totaled $7,145, down from $9,887 in 2008.19
  • Nearly half of low- and middle-income households carried debt from out of pocket medical expenses on their credit cards in 2012. The average amount of medical credit card debt was $1,678.19
  • A survey conducted in February and March 2012 found that approximately 86 percent of low- and middle-income households who incurred expenses resulting from unemployment in the previous year took on credit card debt as a result.19
  • 60 percent of low- and middle-income households in debt who had college expenses for a child between February 2009 and February 2012 said that those expenses contributed to the credit card debt.19
  • 71 percent of low- and middle-income households in debt who had college expenses for themselves or their spouse between February 2009 and February 2012 reported that those expenses contributed to credit card debt.19
  • 20 percent of low- and middle-income Americans with no credit card debt but who had debt in the past cited college expenses as a factor that contributed to that past debt.19
  • When facing financial problems related to debt, 27 percent of U.S. adults say they would first turn to their friends and family for help, and 13 percent say they would reach out to the lender or credit card company.27
  • Nearly two in five Americans (39 percent) carry credit card debt from month to month, as of March 2012.27
  • The states with the highest amount of average credit card debt in 2012 were Alaska ($7,045), Colorado ($5,728), North Carolina ($5,619) and Connecticut ($5,532).32
  • The states with the lowest amount of average credit card debt in 2012 were Iowa ($3,874), North Dakota ($4,006), Wisconsin ($4,252) and South Dakota ($4,257).32
  • Women are more likely than men to carry a credit card balance, make the minimum payment on their credit cards and be charged a late fee.24
  • Males who carried a credit card balance as of April 2012: 55 percent.24
  • Females who carried a credit card balance as of April 2012: 60 percent.24
  • 85 percent of respondents in a March 2013 poll said they were unlikely or somewhat unlikely to talk with a stranger about credit card debt -- a subject more taboo than religion, politics, salary and love life details.46?

??Credit card purchase volume

  • American Express U.S. credit purchase volume: $424.3 billion for 2011.3
  • Discovercredit purchase volume: $106 billion for 2012.49
  • MasterCard U.S. credit purchase volume: $534 billion for 2012.5
  • Visa U.S. credit purchase volume: $981 billion for 2012.4
  • Percentage of credit card volume generated by co-branded Visa, MasterCard, Discover and American Express credit cards in 2012: 35 percent.52

??Credit card usage

  • Nearly half of low- and middle-income households carried debt from out of pocket medical expenses on their credit cards in 2012. The average amount of medical credit card debt was $1,678.19
  • Proportion of parents who used credit cards to pay for their kids? college bills as of 2012: Approximately 4 percent, borrowing on average $4,911.11
  • Proportion of college students borrowing from credit cards to pay for college as of 2012: 3 percent. Average amount in college costs financed on those credit cards as of 2012: $2,169.11
  • Low- and middle-income households that used credit cards to pay for basic living expenses such as rent or mortgage, groceries or utilities, in the 12 months prior to March 2012 because they did not have enough money in their checking or savings accounts: 40 percent.19
  • Credit card holders with two to three credit cards who actually use two to three each month, as of 2012: 49 percent. Credit card holders with four or more credit cards who only use two to three each month, as of 2012: 68 percent.33
  • Credit card users surveyed in 2012 who used their cards to buy:
      Clothing: 67 percent
      Gas: 64 percent
      Food: 64 percent
      Travel: 62 percent.33
  • Among credit card holders surveyed in 2012, those age 50 and up were more likely than those age 18 to 49 to use their credit card for travel (68 percent versus 55 percent ), clothing (72 percent versus 62 percent), home maintenance (39 percent versus 28 percent) and car maintenance (54 percent versus 40 percent).33
  • 63 percent of debit card holders surveyed in 2011 said they used their debit cards most often to pay for groceries, compared with 19 percent who said credit cards and 13 percent who said cash.37
  • 50 percent of debit card holders surveyed in 2011 said they used their debit cards most often to pay for gasoline, compared to 25 percent who said credit cards and 13 percent who said cash.37
  • 50 percent of debit card holders surveyed in 2011 said they used their debit cards most often to pay at discount stores, compared with 17 percent who said credit cards and 23 percent who said cash.37
  • 47 percent of debit card holders surveyed in 2011 said they used their debit cards most often to pay at department stores, compared with 25 percent who said credit cards and 8 percent who said cash.37
  • 46 percent of debit card holders surveyed in 2011 said they used their debit cards most often when online shopping, compared with 40 percent who said credit cards and 2 percent who said cash.37
  • 46 percent of debit card holders surveyed in 2011 said they used their debit cards most often when dining in restaurants, compared with 26 percent who said credit cards and 21 percent who said cash.37
  • 38 percent of debit card holders surveyed in 2011 said they used their debit cards most often when shopping at convenience stores, compared with 11 percent who said credit cards and 38 percent who said cash.37
  • 36 percent of debit card holders surveyed in 2011 said they used their debit cards most often when dining at fast food restaurants, compared with 11 percent who said credit cards and 46 percent who said cash.37

??Customer satisfaction

J.D. Power and Associates 2012 Credit Card Satisfaction Study Rankings6
  1. American Express
  2. Discover Card
  3. Chase
  4. Barclaycard
  5. U.S. Bank
  6. Citi Cards
  7. Wells Fargo
  8. Capital One
  9. Bank of America
  10. GE Capital Retail Bank
  11. HSBC

??Delinquency

  • Charge-off rate on credit card loans from top 100 banks: 3.87 percent as of Q1 2013. 2
  • U.S. credit card 60-day delinquency rate in August 2012: 1.76 percent.17
  • Bank card delinquencies: 2.93 percent during Q2, 2012, well below the 15-year average of 3.91 percent.36
  • Proportion of adults who do not pay all of their bills on time: 33 percent in 2012, up from 28 percent in 2011.27
  • National credit card delinquency rate (the ratio of borrowers 90 or more days past due): 0.63 percent in Q2 2012, down from 0.73 percent the previous quarter. 32
  • States with the highest credit card delinquency rates in 2012: Mississippi, Nevada, Alabama, Georgia and West Virginia.32
  • States with the lowest credit card delinquency rates in 2012: North Dakota, South Dakota, Montana and Nebraska.32

??Fees

  • 28 percent of credit card holders surveyed in December 2010 said no annual fee was the most important credit card feature.12
  • 28 percent?of low- and middle-income households reported paying late fees on their credit cards in 2012 down from half of households reporting that they paid late fees in 2008.19
  • 11 percent of bank credit cards carried overlimit penalty fees in 2011, down from 23 percent in 2010 and more than 80 percent in 2009.21
  • In 2011, the percentage of credit cards with annual fees was 21 percent for bank credit cards and 14 percent for credit union credit cards.21
  • Women are more likely than men to carry a credit card balance, make the minimum payment on their credit cards and be charged a late fee.24

??Interest rates/APRs

  • Average APR on credit card with a balance on it: 13.01 in Q1, 2013.9
  • 40 percent of credit card holders surveyed in December 2010 said that low APR/Interest rate was the most important credit card feature.12
  • 17 percent of college students surveyed in spring 2012 reported an interest rate increase on their credit cards within the previous year.14
  • Small-business owners reported an average interest rate of 15.6 percent on their business credit cards in May 2012.18
  • 24 percent fewer low- and middle-income households reported that their interest rates increased as a result of a late payment in 2012 than in 2008.19
  • Median advertised interest rates for purchases on bank credit cards in 2011 were 12.99 to 20.99 percent depending on a consumer?s credit history. Median credit union rates for purchases in 2011 were between 9.99 percent and 17 percent.21
  • Females paid half a percentage point more in credit card interest rates than men in 2012.24

??Payment

  • Women are more likely than men to carry a credit card balance, make the minimum payment on their credit cards and be charged a late fee.24
  • Males who carried a credit card balance as of April 2012: 55 percent.24
  • Females who carried a credit card balance as of April 2012: 60 percent.24
  • Among men and women with low levels of financial literacy, women are likely to engage in significantly more costly behaviors than men.24
  • Among men and women with high levels of financial literacy there are no differences in behavior between the sexes.24
  • In December 2010, 74 percent of cardholders with a mobile phone reported going online to the financial institution?s website to make transactions. 59 percent of cardholders with a mobile phone said they used the Internet as their primary way to make transactions.12
  • In December 2010, 13 percent of cardholders with a mobile phone used a mobile application to make transactions.12
  • One-third of student credit cards had a zero balance in the 2011-2012 school year. Another 41 percent of families reported student card balances of less than $500. Only 3 percent carried a balance greater than $4,000.11
  • Cardholders 18 and older surveyed in February 2012 who said they paid the full balance on their credit cards each month: 58 percent.33
  • Cardholders 18 and older surveyed in February 2012 who said they paid less than the full amount but more than the required minimum balance: 32 percent.33
  • Cardholders 18 and older surveyed in February 2012 who said they paid only the minimum amount: 8 percent.33
  • Cardholders 18 and older surveyed in February 2012 who paid the minimum balance each month and believed they would be able to pay off their current balance by making minimum payments: 60 percent.33
  • Among respondents surveyed in 2012, 65 percent age 50 and over paid their full credit card balances each month compared with 52 percent of those 18 to 49.33
  • Americans surveyed in the first half of 2012 who were seriously concerned about being able to meet essential financial obligations such as their mortgage, loans, credit card or bill payments: 36 percent, down significantly from 49 percent a year earlier.33
  • Consumers paid an estimated $72 billion more than they spent on their credit cards between Q1 2009 and Q1 2010.29

??Rewards

  • Of the 3.7 credit cards held by the average credit card holder in 2009, two cards earned rewards and 1.8 cards did not. (These numbers do not sum exactly to 3.7, due to rounding error.)1
  • 13 percent of credit card holders surveyed in December 2010 said rewards or points were the most important credit card feature.12
  • 57 percent of cardholders surveyed in December 2010 said cash back was the most important type of credit card reward; 13 percent said merchant rewards and another 13 percent said flexible points.12
  • 57 percent of rewards card holders surveyed in Q2 2012 rated the quality of their card issuer?s service as above average or excellent.23
  • 54 percent of rewards card holders surveyed in Q2 2012 rated the quality of the card issuer?s website as above average or excellent.23
  • 49 percent of rewards cardholders surveyed in Q2 2012 rated the variety of rewards that could be earned as above average or excellent.23
  • 45 percent of rewards card holders surveyed in Q2 2012 rated the dollar value of points earned as above average or excellent.23
  • 45 percent of rewards card holders surveyed in Q2 2012 rated the speed with which rewards could be earned as above average or excellent.23
  • 30 percent of rewards card holders surveyed in Q2 2012 rated the ability to access rewards information using a mobile device as above average or excellent.23
  • 27 percent of rewards card holders surveyed in Q2 2012 rated the ability to redeem points using a mobile device as above average or excellent.23
  • Percentage of consumers using co-branded or affinity cards in 2013: 43 percent, down from 55 percent in 2009.52
  • Between 2011 and 2012, 15 states experienced a decrease in credit risk. Of the five most populous states, three saw year-over-year decreases in credit risk, including Illinois, California and Texas. The other two -- New York and Florida -- saw year-over-year credit risk increases.31
  • Between Q1 and Q2 of 2012, all 50 states saw a decrease in credit risk; only the District of Columbia experienced an increase.31
  • States with the lowest credit risk in 2012 were concentrated in the Upper Midwest and New England regions. The states with the lowest credit risk in 2012 were North Dakota, Minnesota and South Dakota.31
  • Nevada, South Carolina, Mississippi, Texas and Georgia had the highest credit risk in Q2 of 2012.31
  • The national average FICO score was 646 and the national median FICO score was 723 as of July 2013.16
  • The national average Experian VantageScore was 750 in 2012, up from 749 in 2011.7
  • The city with the highest average Experian VantageScore score in 2012 was Minneapolis, Minn., with a 787 average score.7
  • The city with the lowest average credit score in 2012 was Harlingen, Texas, with a 688 average score.7
  • Eight of the 10 cities with the highest average VantageScores in 2012 were in the Midwest.7
  • Eight of the 10 cities with the lowest average VantageScores in 2012 were in the South.7
  • The average Experian VantageScore among people 66 and over in 2012 was 829.8
  • The average Experian VantageScore among Baby Boomers (ages 47-65) in 2012 was 782.8
  • The average Experian VantageScore among Generation X (ages 30-46) in 2012 was 718.8
  • The average Experian VantageScore among Generation Y (ages 19-29) in 2012 was 672.8
  • 85 percent of college students in spring 2012 didn't know their credit score.14
  • 9 percent of college students in spring 2012 reported that their credit score was between 700 and 850, categorized as ?very good.?14
  • Nearly seven in 10 college students in spring 2012 said a good credit score is ?very important? while 20 percent said it is ?somewhat important.?14
  • 18 percent of low- and middle-income households surveyed in 2012 identified late payments toward student loans as contributing to their low credit score.19
  • Proportion of adults surveyed in March 2012 who had ordered or received their credit score in the previous 12 months: 44 percent, up from 37 percent in 2011.27
  • Proportion of adults surveyed in March 2012 who had not reviewed their credit score in the previous 12 months: 55 percent.27
  • Proportion of adults surveyed in March 2012 who had not reviewed their credit report in the previous 12 months: 62 percent.27
  • 57 percent of women and 47 percent of men agree with the statement, "If you were about to get seriously involved with someone, you would want to know your partner's credit score."47

??Debit card circulation

  • MasterCard debit: 151 million cards in the United States and 314 million cards in the rest of the world as of March 31, 2013.48
  • Visa debit: 439 million cards in the United States and 893 million cards in the rest of the world as of March 31, 2013.51

??Debit card fees

  • When asked in 2011 what they would do if their financial institution added a small fee such as 5 to 10 cents to each debit card transaction, 36 percent of debit card holders said they would stop using their card; 29 percent said they would use their debit card less; 20 percent said they would close their checking account; and 15 percent said they would use the card as usual.37
  • When asked in 2011 what they would do if their financial institution charged a flat monthly fee to their checking account that allowed unlimited use of their debit card, 27 percent of debit card holders said they would stop using their card; 26 percent said they would use their debit card as usual; 25 percent said they would close their checking account; and 22 percent said they would use their debit card less.37
  • When asked in 2011 what payment types consumers might move to if fees for debit use became a factor, 53 percent said they would use cash more; 26 percent said they would use checks more; 24 percent said they would use credit or charge cards more; 21 percent said they would open a PayPal account; and 8 percent said they would use retailer private label more.37
  • 3 percent of consumers in 2011 would continue using their current debit card if a fee were imposed; 62 percent would switch to a bank that didn?t charge debit card fees; 22 percent would begin paying with cash; 8 percent would start paying by check; and 5 percent would begin charging their purchases with a credit card.39

??Debit card purchase and transaction volume

  • MasterCard debit purchase volume: $448 billion in the United States for the full year of 2012.5
  • Visa debit purchase volume: $1.10 trillion in the United States for the full year of 2012.4
  • MasterCard debit transaction volume: 11.3 billion transactions in the United States for the full year of 2012.5
  • Visa debit transaction volume: 29.5 billion transactions in the United States for the full year of 2012.4

??Debit card rewards

  • Of the 77 percent of consumers who had a debit card in 2009, 28.5 percent of them had a debit card that earned rewards.1

??Debit card usage

  • The average debit card holder spent $8,326 on the debit card in 2011, up from $7,781 in 2010.38
  • Active debit card users performed an average of 18.3 purchases a month with their debit cards in 2011 compared with 16.3 a month in 2010.38
  • The average price on a debit transaction in 2011 was $38. The median price on a debit transaction in 2011 was $19. More than 30 percent of debit transactions in 2011 were less than $10.38
  • 63 percent of debit card holders surveyed in 2011 said they used their debit cards most often to pay for groceries, compared with 19 percent who said credit cards and 13 percent who said cash.37
  • 50 percent of debit card holders surveyed in 2011 said they used their debit cards most often to pay for gasoline, compared to 25 percent who said credit cards and 13 percent who said cash.37
  • 50 percent of debit card holders surveyed in 2011 said they used their debit cards most often to pay at discount stores, compared with 17 percent who said credit cards and 23 percent who said cash.37
  • 47 percent of debit card holders surveyed in 2011 said they used their debit cards most often to pay at department stores, compared with 25 percent who said credit cards and 8 percent who said cash.37
  • 46 percent of debit card holders surveyed in 2011 said they used their debit cards most often when online shopping, compared with 40 percent who said credit cards and 2 percent who said cash.37
  • 46 percent of debit card holders fsurveyed in 2011said they used their debit cards most often when dining in restaurants, compared with 26 percent who said credit cards and 21 percent who said cash.37
  • 38 percent of debit card holders surveyed in 2011said they used their debit cards most often when shopping at convenience stores, compared with 11 percent who said credit cards and 38 percent who said cash.37
  • 36 percent of debit card holders surveyed in 2011 said they used their debit cards most often when dining at fast food restaurants, compared with 11 percent who said credit cards and 46 percent who said cash.37
  • Debit card payments accounted for 43 percent of 110 billion transactions in 2011, up from 19.4 percent in 2003.40
  • Half of all noncash payments for fuel in 2012 were made with debit cards.41
  • Among households with income of less than $50,000, debit cards accounted for twice as many gas station transactions as credit cards in 2012.41

??Credit card debt

  • Americans who carried credit card debt from month to month as of March 2012: 39 percent.27
  • One-third of student credit cards had a zero balance in the 2011-2012 school year. Another 41 percent of families reported student card balances of less than $500. Only 3 percent carried a balance greater than $4,000.11
  • The average outstanding credit card balance of college students reported in 2011-2012 was $755.11
  • High-income students had lower credit card balances on average in 2011-2012 -- $521 compared with $755 in the general student population.11
  • Of the 68 percent of families with credit cards in 2010, only 55.1 percent had a balance, down from 2007 when 72.9 percent had cards and 61 percent had an outstanding balance.15
  • 26 percent of small-business owners carry a balance of less than $10,000 on their business credit cards.18
  • 15 percent of small-business owners carry a balance of $10,000 to $25,000 on their business credit cards.18
  • 9 percent of small-business owners carry a balance of more than $25,000 on their business credit cards.18
  • In 2012, the average credit card debt among low- and middle-income households carrying credit card debt totaled $7,145, down from $9,887 in 2008.19
  • Nearly half of low- and middle-income households carried debt from out of pocket medical expenses on their credit cards in 2012. The average amount of medical credit card debt was $1,678.19
  • A survey conducted in February and March 2012 found that approximately 86 percent of low- and middle-income households who incurred expenses resulting from unemployment in the previous year took on credit card debt as a result.19
  • 60 percent of low- and middle-income households in debt who had college expenses for a child between February 2009 and February 2012 said that those expenses contributed to the credit card debt.19
  • 71 percent of low- and middle-income households in debt who had college expenses for themselves or their spouse between February 2009 and February 2012 reported that those expenses contributed to credit card debt.19
  • 20 percent of low- and middle-income Americans with no credit card debt but who had debt in the past cited college expenses as a factor that contributed to that past debt.19
  • When facing financial problems related to debt, 27 percent of U.S. adults say they would first turn to their friends and family for help, and 13 percent say they would reach out to the lender or credit card company.27
  • Nearly two in five Americans (39 percent) carry credit card debt from month to month, as of March 2012.27
  • The states with the highest amount of average credit card debt in 2012 were Alaska ($7,045), Colorado ($5,728), North Carolina ($5,619) and Connecticut ($5,532).32
  • The states with the lowest amount of average credit card debt in 2012 were Iowa ($3,874), North Dakota ($4,006), Wisconsin ($4,252) and South Dakota ($4,257).32
  • Women are more likely than men to carry a credit card balance, make the minimum payment on their credit cards and be charged a late fee.24
  • Males who carried a credit card balance as of April 2012: 55 percent.24
  • Females who carried a credit card balance as of April 2012: 60 percent.24

??Total consumer debt

  • Total U.S. outstanding consumer debt: $2.8 trillion as of May 2013.9
  • Average age Americans at which expect to be debt-free: 53.45
  • The average total debt among Baby Boomers in 2012 was $101,951.8
  • The average total debt among those 66 and over in 2012 was $38,043.8
  • The average total debt among Generation X in 2012 was $111,121.8
  • The average total debt among Generation Y in 2012 was $34,765.8
  • Generation X in 2012 had 42 percent more overall debt than other generations.8
  • Among middle- and low-income Americans surveyed in 2012 who described their credit as being ?poor,? 55 percent said unpaid medical bills or medical debts contributed.19
  • In 2010, 13.8 percent of families had a ratio of debt payments to family income of greater than 40 percent.15
  • When facing financial problems related to debt, 27 percent of U.S. adults said in 2012 that they would first turn to their friends and family for help, and 13 percent said they would reach out to the lender or credit card company.27
  • Nearly 53 percent of Americans believe "a partner with debt is a turnoff." 57 percent of women and 48 percent of men agree with the statement.47
  • ?

??African-American

  • While 62 percent of middle- and low-income households in debt in 2012 described their credit as ?excellent? or ?good? only 44 percent of African-Americans and 55 percent of Latinos described their credit in those positive terms.19

??Elderly

  • The average total debt among those 66 and over is $38,043.8
  • The average Experian VantageScore among people 66 and over is 829.8
  • Among respondents age 50 and over surveyed in February 2012, approximately 27 percent reported that they had four or more credit cards, compared with 16 percent of those age 18 to 49.33
  • Among respondents age 18 to 49 and over surveyed in February 2012, approximately 34 percent said they had no credit cards compared to 16 percent of those age 50 and over.33
  • 65 percent of survey respondents age 50 and over surveyed in February 2012 paid their full credit card balances each month compared with 52 percent of those 18 to 49.33
  • Among credit card holders surveyed in February 2012, those age 50 and up were more likely than those age 18 to 49 to use their credit card:
    • for travel (68 percent versus 55 percent ),
    • clothing (72 percent versus 62 percent),
    • home maintenance (39 percent versus 28 percent)
    • and car maintenance (54 percent versus 40 percent).33

??Gender

  • Women are more likely than men to carry a credit card balance, make the minimum payment on their credit cards and be charged a late fee.24
  • Males who carried a credit card balance as of April 2012: 55 percent.24
  • Females who carried a credit card balance as of April 2012: 60 percent.24
  • Among men and women with low levels of financial literacy, women are likely to engage in significantly more costly behaviors than men.24
  • Among men and women with high levels of financial literacy there are no differences in behavior between the sexes.24
  • Females paid half a percentage point more in credit card interest rates than men in 2012, regardless of financial literacy level.24

??Latino

  • While 62 percent of middle- and low-income households in debt in 2012 described their credit as ?excellent? or ?good? only 44 percent of African-Americans and 55 percent of Latinos described their credit in those positive terms.19

??Students

  • 35 percent of students owned a credit card in 2012, down from 42 percent in 2010.11
  • Over three-quarters of students with credit cards had them in their own name in 2012, a similar percentage as 2011.11
  • 27 percent of all college students surveyed in spring 2012 had a credit card in their own name.14
  • College students with a credit card in their own name in spring 2012 were more than twice as likely to have a Visa than a MasterCard.14
  • 43 percent of college students surveyed in spring 2012 said they would prefer to have a credit card in their own name requiring proof of income rather than having a secured card or being an authorized user of a parent?s card.14
  • When asked what they would do if they received their first credit card tomorrow, 62 percent of college students surveyed in spring 2012 said they would shift 1 percent or more of their spending from other payment methods to the credit card.14
  • 62 percent of college students surveyed in spring 2012 applied for their first credit card before starting college.14
  • Percentage of college freshmen with a credit card in 2012: 21 percent.11
  • Percentage of college sophomores with a credit card in 2012: 28 percent.11
  • Percentage of college juniors with a credit card in 2012: 38 percent.11
  • Percentage of college seniors with a credit card in 2012: 60 percent.11
  • Percentage of students from high-income families that owned a credit card in 2012: 53.11
  • Percentage of students from low-income families that owned a credit card in 2012: 29.11
  • Percentage of students from middle-income families that owned a credit card in 2012: 31.11
  • College students did 15 percent of their monthly spending on a credit card in spring 2012.14
  • One-third of student credit cards in 2012 had a zero balance. Another 41 percent of families reported student card balances of less than $500. Only 3 percent carried a balance greater than $4,000.11
  • The average outstanding credit card balance of college students reported in 2012 was $755.11
  • High-income students had lower credit card balances on average -- $521 compared with $755 in the general student population.11
  • The percentage of college students borrowing from credit cards in 2012 to pay for college was 3 percent. The average amount in college costs financed on those credit cards was $2,169.11
  • 13 percent of college students from middle- or low-income families in 2012 whose current credit card balance included some college expenses reported leaving school because of credit card debt.19
  • 68 percent of college students surveyed in spring 2012 had concerns about identity theft when it comes to having a credit card.14
  • More than twice as many college students (80 percent) carried debit cards than carry credit cards in 2012.11
  • Approximately 32 percent of students owned both a debit and credit card in 2012.11
  • 85 percent of college students didn't know what their credit score was in spring 2012.14
  • 9 percent of college students reported in spring 2012 that their credit score was between 700 and 850, categorized as ?very good.?14
  • 60 percent of college students said in spring 2012 that the most important reason to have a credit card was to start building a credit history.14
  • 54 percent of college students said in spring 2012 that the most important reason to have a credit card was to have additional purchasing power for the unexpected.14
  • 17 percent of college students surveyed in spring 2012 reported an interest rate increase on their credit cards within the previous year.14
  • Proportion of parents who use credit cards to pay for their kids? college bills as of 2012: Approximately 4 percent, borrowing on average $4,911.11
  • 18 percent of middle- or low-income households surveyed in 2012 identified late payments toward student loans as contributing to their low credit score.19
  • 60 percent of middle- or low-income households in debt who had college expenses for a child between February 2009 and February 2012 said that those expenses contributed to the credit card debt.19
  • 71 percent of middle- or low-income households in debt who had college expenses for themselves or their spouse between February 2009 and February 2012 reported that those expenses contributed to credit card debt.19
  • 20 percent of middle- or low-income Americans with no credit card debt but who had debt in the past cited college expenses as a factor that contributed to that past debt.19
  • A May 2012 study found that 32 of the 50 largest public four-year universities, 26 of the largest 50 community colleges, and six of the 20 largest private not-for-profit schools had debit or prepaid card contracts with a bank or a financial firm.20

??Teens and young adults

  • The average total debt among Generation Y in 2012 was $34,765.8
  • The average Experian VantageScore among Generation Y in 2012 was 672.8
  • The first national general-use credit card that allowed balances to be paid over time was the BankAmericard, issued in 1958, (which in 1977 changed its name to Visa).25
  • MasterCard began in 1966, when a number of banks formed the Interbank Card Association. In 1969, the Interbank Card Association bought the rights to use "Master Charge" from the California Bank Association. It was renamed MasterCard in 1979.42
  • 68 percent of college students surveyed in spring 2012 had concerns about identity theft when it comes to having a credit card.14
  • The Consumer Sentinel Network (CSN), a database of consumer complaints received by law enforcement, received more than 1.8 million complaints in 2011: 55 percent were fraud complaints; 15 percent were identity theft complaints; and 30 percent other types of complaints.34
  • Identity theft was the number one complaint category in the CSN for 2011, comprising 15 percent of the overall complaints.34
  • A total of 990,242 CSN 2011 complaints were related to fraud.34
  • Consumers reported paying more than $1.5 billion as a result of fraud in 2011; the median amount consumers paid fraudulently was $537.34
  • Of the fraud-related complaints in 2011 where the method of initial contact was reported, 43 percent said email, 13 percent said an Internet site and 7 percent said mail as the initial point of contact.34
  • In 2011Colorado had the highest per capita rate of reported fraud and other complaints followed by Delaware and Maryland.34
  • 14 percent of identity theft in 2011 involved credit card fraud. 27 percent involved government documents/benefits fraud; 13 percent involved phone or utilities fraud and 9 percent involved bank fraud.34
  • In 2011 Florida had the highest per capita rate of reported identity theft complaints, followed by Georgia and California.34
  • The top three threats most worrisome in the United States in 2012 were identity theft, bankcard fraud and national security as it relates to terrorism.35
  • 56 percent of Americans in 2012 were seriously concerned about someone obtaining and using their credit or debit card information.35
  • 39 percent of Americans in 2012 were seriously concerned about the security of shopping or banking online.35
  • In 2010, 74 percent of cardholders with a mobile phone went online to their financial institution?s site to complete transactions.12
  • In 2010, 59 percent of cardholders with a mobile phone used the Internet as their primary way to complete transactions.12
  • In 2010 13 percent of cardholders with a mobile phone used a mobile application to complete transactions.12
  • Nearly two-thirds of online financial customers used bill pay across bank, credit card and third-party Web sites in 2011.13
  • 54 percent of rewards cardholders in 2012 rated the quality of the card issuer?s website as above average or excellent.23
  1. ?The 2009 Survey of Consumer Payment Choice,? Federal Reserve Bank of Boston; published in 2011
  2. Federal Reserve Economic Data
  3. American Express interview
  4. Visa Operational Performance Data for 2012 (reported Feb 6, 2013)
  5. MasterCard 2012 results, Operational Performance (reported Jan. 31, 2013)
  6. J.D. Power and Associates 2012 U.S. Credit Card Satisfaction Study
  7. Experian?s State of Credit 2012 report
  8. Experian?s Generational Credit Trends (spring, 2012)
  9. Federal Reserve?s G.19 report on consumer credit released July 8, 2013
  10. The United States Census Bureau: The 2012 Statistical Abstract
  11. Sallie Mae?s 2012 How America Pays for College
  12. ComScore?s 2010 Online Credit Card Report
  13. ComScore?s 2011 State of Online and Mobile Banking Report
  14. Student Monitor Financial Services spring 2012
  15. Federal Reserve Bulletin, June 2012; Changes in U.S. Family Finances from 2007 to 2010: Evidence from the Survey of Consumer Finances
  16. Credit Reports 101
  17. Fitch Ratings
  18. National Small Business Association Small Business Access to Capital Survey, 2012
  19. Demos: The 2012 National Survey on Credit Card Debt of Low- and Middle-Income Households
  20. U.S. PIRG Education Fund: The Campus Debit Card Trap: Are Bank Partnerships Fair to Students? (May, 2012)
  21. The PEW Health Group: A New Equilibrium: After Passage of Landmark Credit Card Reform, Interest Rates and Fees Have Stabilized. (May, 2011)
  22. PEW Safe Credit Cards Project: U.S. Households at Risk from Business Credit Cards (May, 2011)
  23. Aite Group: Credit Card Rewards Programs: What Do Cardholders Think?
  24. FINRA Investor Education Foundation: In Our Best Interest: Women, Financial Literacy and Credit Card Behavior (April, 2012)
  25. Britannica.com
  26. American Bankruptcy Institute: Annual Business and Non-Business Filings by Year (1980 - 2012)
  27. The 2012 Consumer Financial Literacy Survey, prepared for The National Foundation for Credit Counseling and the Network Branded Prepaid Card Association
  28. Board of Governors of the Federal Reserve System: Report to the Congress on the Availability of Credit to Small Businesses, September 2012
  29. TransUnion press release, July 27, 2011
  30. TransUnion's Total Inquiry Index, September 2012
  31. TransUnion?s Credit Risk Index, September 2012
  32. TransUnion Q2 2012 credit card delinquency rates
  33. AARP Bulletin Survey on Budgeting and Credit Card Use (April 2012)
  34. Federal Trade Commission: Consumer Sentinel Network Data Book for January - December 2011 (Released February 2012)
  35. Unisys Security Index U.S. May 2012
  36. American Bankers Association?s Consumer Credit Delinquency Bulletin (October, 2012)
  37. 2011 Consumer Debit Research: Final Report of Survey and Focus Group Results, October, 2011
  38. PULSE 2012 Debit Issuer Study
  39. October 2011 National Foundation for Credit Counseling Study
  40. Moebs Services study
  41. Electronic Payments Coalition
  42. MasterCard corporate history
  43. TransUnion analysis of May 2013 credit files
  44. Experian analysis of March 2013 credit files
  45. Average American expects to be debt free by age 53 -- CreditCards.com poll conducted by GfK Roper May 31 through June 2, 2013
  46. Poll: Card debt the No. 1 taboo subject -- CreditCards.com poll conducted by GfK Roper March 2013
  47. Love me, love my debt? No way, poll says -- CreditCards.com poll conducted by GfK Roper January 2013
  48. MasterCard Q1 2013 Financial Results, Operational Performance (reported May 1, 2013)
  49. Discover Historical Calendar Year Supplement for 2012 (reported March 5, 2013)
  50. American Express Q1 2013 Financial Results, Earnings Supplement (reported April 17, 2013)
  51. Visa Operational Performance Data for Q1 2013 (reported May 1, 2013)
  52. Market researcher Packaged Facts

Tamara E. Holmes and Juan Rodriguez contributed to this report.

Updated: August 1, 2013

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Sunday, August 4, 2013

Clearing the 'hump of assumptions' in making LGBT inclusive games ...

A "hump of assumptions" can stand in the way of creating and including lesbian, gay, bisexual or transgender characters in video games today, said David Gaider, lead writer for the Dragon Age series at BioWare. Speaking on an EA-populated panel at GaymerX in San Francisco today, Gaider and colleagues addressed the importance of heeding the demand for diversity and, more plainly, "reflecting humanity" in modern games.

Hesitation over tackling LGBT issues, Gaider said, can come from pessimistic assumptions made ? both by creators and marketers ? about how the audience will react. One of BioWare's earliest gay characters, Juhani in Star Wars: Knights of the Old Republic, was practically snuck into the game. "I think for a long time it was just assumed that nobody would accept it," he said. "That's what the mentality was. It's not like we went and tried to ask permission or anything - we kind of hid it. She never says, 'She was my lover.' She just says, 'We are very close.'"

Not explicitly addressing the topic, however, "seemed like a very obvious exclusion" to Gaider. BioWare's next role-playing game, Jade Empire, was less subtle in its depiction of a same-sex relationship, and it faced far less resistance than the team had assumed. There was no long conversation after the team asked, "Why don't we just make the romances available to both genders?" According to Gaider, "that was the whole conversation."

A similar anecdote came from panelist David "Rez" Graham, software engineer and AI programmer on The Sims 4, who recalled the introduction of same-sex characters in the first Sims game. Far from leading to a dreaded debate within the company, the equal-opportunity woohoo-ing (the game's euphemism for sex) of the Sims happened without consternation. "The lead engineer on the original sims was openly gay," Rez said. "He had a reputation for just ... implementing things. Nobody really questioned it, which was really cool. It boiled down to exactly one meeting - it was a question of how we support this, it was never about do we support this." (It took until The Sims 3, however, for same-sex marriage to formally appear.)

Of course, the presence of gay or lesbian relationships in a game that playfully simulates humanity is different from the likes of a serious space opera like Mass Effect, which occupies a different space in gaming culture. According to panelist Jessica Merizan, community manager for BioWare Edmonton, "the rules are different" for games that are aimed at consumers beyond the 18+ male demographic.

"I grew up with The Sims, and it didn't really seem like a big issue," she said. "I'm pretty sure that's how I learned about sex in the first place." A game like Mass Effect 3, which drew ire from a subset of fans for its inclusion of a gay pilot named Steve Cortez, broached the subject differently ? and while it was controversial, Merizan was pleased it wasn't a storm obscuring the game. The "man's man" Cortez, she said, illustrated that "you don't have to be a certain way to be gay."


Gaider, meanwhile, tempered assumptions made over EA's bottom line following the (eventual) inclusion of gay romance options in Mass Effect: "It's fair to say that our taking that step affected our sales in no way whatsoever." While some may choose to object and avoid purchasing the game as a result, "I think we have equal evidence of people who bought the games because it included that."

By opting for empathy and inclusion, Gaider said, EA gained new fans that are vocal in their support of those games through forums and social network. "That's the sort of language that companies listen to," he said. "As developers we are there to make art, but we are also there to survive and make money. In talking about it, they are making their presence heard."

That presence, the panelists suggested, will grow with the increased prominence of independent games, some of which explore LGBT issues in more depth than AAA productions do. The powers that be are "not only capitalists, they're copy cats," Gaider quipped. "They will jump onto that bandwagon so fast."

Source: http://www.joystiq.com/2013/08/04/clearing-the-hump-of-assumptions-in-making-lgbt-inclusive-game/

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Twice burned: Paying taxes on stolen money

Taxes

1 hour ago

Image: Bernice Tingle

CNBC

Bernice Tingle liquidated her IRA to invest with a scam artist.

Bay Area resident Bernice Tingle was always an overachiever when it came to saving money. She accumulated more than $1 million by the time she retired at age 45 in 1991. By 2003 she had her 94-year-old mother move in with her as she was her mother's chief caretaker. Being her mother's "long-term care plan," Tingle was concerned about rising health care costs and was looking for a way to make more money.

When she met Maurice Michael McCant in 2007, he presented himself as a successful CEO of Billionaire Catt Entertainment, a rap concert promotion business, and promised to deliver more than 25 percent returns by investing in his company. After seeing these high returns on initial investments, she decided to liquidate her entire individual retirement account and other savings totaling $1.3 million and invest with McCant. It was a disaster.

"For a little over a year, monies were coming in like they were supposed to and allowing me to sustain," Tingle told?CNBC's "American Greed." "Then it was cut off and then I was just left there."

In total, McCant scammed 15 investors like Tingle out of their money. His take?more than $2 million. In 2011, he was convicted of wire fraud and sent to prison for just under four years.

Tingle lost her savings to McCant's scam, but that was not all. Next, the IRS and the state of California's Franchise Tax Board demanded Tingle pay substantial tax penalties accrued because of cashing out her IRA, which McCant had promised to pay himself but of course he didn't.

Tingle feels like she was victimized twice: "Even if I live to be as old as my mother, I will never be able to meet that tax bill obligation," she said.

She is not alone in dealing with tax liabilities because of losses in financial scams.

According to the IRS, thousands of victims of financial scams and identity theft fraud every year deal with potential tax implications. These victims can claim a "casualty and theft loss" deduction on their tax return to offset some of the losses from the fraud, however, which is often decided "based on the case facts and circumstances" by the IRS or the state tax board.

Of the two federal and state tax bills that Tingle received, almost 85 percent of her federal tax liability was forgiven as it was considered a "theft loss."

"The state is not looking at it that way. So that bill continues to tick, tick, tick, tick, tick," Tingle said, referring to the Franchise Tax Board.

Tingle's request for deductions via an amended tax return to the board was recently declined. CNBC asked the board for an updated, but it refused to discuss individual tax matters.

Protections for Ponzi scheme victims

In the wake of Bernie Madoff's Ponzi scheme at the end of 2008 when thousands of investors lost more than $60 billion, the IRS introduced guidance to relieve taxpayers suffering from losses because of financial fraud and Ponzi schemes.

"The provision to claim 'casualty and theft loss' deductions existed even before 2009, but the introduction of?IRS Rev. Ruling 2009-9 made the process and eligibility criterion easy to understand for everyone," said Carlos Guaman, a California-based accountant. He represents taxpayers in disputes with the IRS.

(Read more:?Beware of Bitcoin related Ponzi schemes, says SEC)

Specifically, this ruling serves as a guide to whether an individual's specific loss because of investments in fraudulent Ponzi schemes qualifies for a theft loss deduction for tax purposes or not.

Protect your identity

Identity theft and the resulting issuance of fraudulent tax refunds is also a?huge problem for the IRS as well as a burden on taxpayers.

For the 2010 tax year, $5 billion in tax refunds were issued by the IRS as a result of identity theft tax fraud according to a?report released by the U.S. Treasury Inspector General for Tax Administration. The report issued last year also estimates another $21 billion will be issued in potentially fraudulent tax refunds resulting from identity theft over the next five years.

(Read more:?American heroes: Fighting to protect their money)

Identity thieves may use your Social Security number to be paid by an employer or to file a fraudulent tax return for refunds like in the case of California resident Daniel Ramirez who has been a victim of identity theft.

At the end of 2011, Ramirez started receiving statements for maxed-out new store credit cards. On realizing that somebody has stolen his identity, he took the necessary steps of?informing the credit bureaus and?freezing his credit accounts temporarily. While most people stop there, Ramirez went beyond that and even filed an?Identity Theft Affidavit, Form 14039 with the IRS envisioning potential tax fraud issues.

Yet, when Ramirez tried to file his tax return online in April 2012, the system refused to accept it. "The person who had stolen my identity filed the taxes before I could and they were claiming a refund of like $10,000," Ramirez said.

But thanks to Ramirez's forward thinking and filing the identity theft affidavit, the IRS had flagged his account and stopped the refund from going to the identity thief. Even though it took a "number of follow-up calls to the IRS and a whole year to process," Ramirez eventually received his due refund earlier this year.

"It [identity theft] was one of the worst things ever; I wouldn't wish that on anybody," Ramirez recalled. "Dealing with the IRS, having to close fraud credit card accounts, cleaning all that mess up was very stressful."

(Read more:?Could Obamacare be boon for identity thieves?)

The IRS provided CNBC with data and other information, but a spokesperson declined to comment on individual cases.

If worried about being at risk of identity theft:

1. Contact the?IRS Identity Protection Specialized Unit at 1-800-908-4490

2. Order a?tax account transcript from the IRS that verifies basic personal data along with details of your tax return filed, which may come in handy if you are checking to see whether someone else filed a fraudulent return on your behalf

The?Federal Trade Commission also lists several steps you must take if you have been a victim of identity theft.

This episode of "American Greed" airs Sunday, August 4 at 10p ET/PT on CNBC. Follow on Twitter?

@AmericanGreedTV.

?By Divya J. Verma, Special to CNBC.com.?Follow her on Twitter?

@divya_verma.

? 2013 CNBC LLC. All Rights Reserved

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