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Credit Card Industry

The Digital Credit Card. Cool Stuff Coming For Your Wallet.

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When it comes to credit cards not much has changed since the introduction of the plastic credit card back in the 1960s. Okay, they added a magnetic stripe on the card, big deal. Oh yes, there was that wave and go credit card that seems to have never really caught on. But here is a video about the invention of ... Read More »

Workers Warned About Company Credit Card Debt

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Last year, employees charged $140 billion on their company credit cards. If the company goes under or doesn’t pay, the cardholder could be forced to pay the balance. According to RPMG research, 35 percent of corporate cards have individual or joint liability arrangements where the employee is responsible for the debt. Surprisingly, large companies are the most likely to make ... Read More »

Avoiding Post-Holiday Headaches

John's Extra Cash

All the parties are over and the decorations are put away. There goes another wonderful, fun-filled holiday season. That musical tie looked great on grandpa. Especially when it kept waking him up from his after-dinner nap. And the remote control, walking-talking-pooping dog was a riot with the kids. Now comes the hard part — facing the bills for all that ... Read More »

Credit Card Insiders Who Felt The Industry Was Out of Control

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Jeff Gelles from The Philadelphia Inquirer wrote a great article titled Consumer 10.0: How the Pew Trusts aided credit card reform in which he talks about a couple of former credit card insiders that banded together to push for credit card reform. If you are interested in this kind of stuff you’ll find the article fascinating. Here are some excerpts. ... Read More »

Credit Card Delinquencies Continue to Fall in 2Q; Average Consumer Credit Card Balances Lowest in Eight Years — According to TransUnion

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TransUnion’s quarterly analysis of trends in the credit card industry revealed that the national credit card delinquency rate (the ratio of bankcard borrowers 90 days or more delinquent on one or more of their credit cards) decreased to 0.92 percent in the second quarter of 2010, down 17.1 percent over the previous quarter. Year over year, credit card delinquencies fell ... Read More »

Citibank to Offer Card Consumers Can Use to Set Sending Limits

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Citi and MasterCard Worldwide today announced that Citi will implement the first-ever consumer application in the U.S. of MasterCard inControl – an innovative service that gives cardholders the ability to set spending controls and receive real-time information about their accounts. “We believe that MasterCard inControl will help enhance our cardholders’ experience, through increased transparency, greater spending confidence, and more secure ... Read More »

Off to College: How to Use Credit Cards and Not Get in Over Your Head

Total Interest Payment Made When Paying Only the Minimum Payment

Let’s face it: when it comes to getting credit, most students have it easy these days. Most college students do get credit cards — and plenty of them if they want. According to a recent study for the Education Resources Institute and the Institute for Higher Education Policy, many college students have credit cards and some of them got their ... Read More »

Simplified Credit Card Agreement Sample

Simplified Credit Card Agreement

Wouldn’t it be nice if credit card agreements could actually be easy to understand, simple and legible? Branding expert Alan Siegel thinks so. Siegel’s firm of communication experts has created a sample credit card agreement to help end the communication and information confusion created by the current small print contracts sent out by credit cards companies. What do you think ... Read More »

If Your Credit Card Company Offers You a Rebate Card – Just Say No.

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Apparently credit card companies are trying to get around the new rules about jacking up your interest rates by replacing your current credit card, that’s covered by the new rules against rate jacking, with a rebate car, that’s not. From the Wall Street Journal: Citibank rolled out rebate-card offers to some of its customers last fall, offering to refund up ... Read More »

In China, Credit Card Debt Enslaves. Anyone Surprised?

It isn’t a big shock to find out that the credit craze and panic is exploding around the world. The credit craze and panic works like this: Stage One: Craze – apply and get approved for credit and go crazy racking up the balance. Stage Two: Panic – after you’ve expended your credit resources you panic as you try to ... Read More »

Victory and Disappointment for the Debt World Today: Total Debt Falls While Harassment Complaints Rise

CNN Money’s recent article, “Debt collectors get nasty” showed some real insight into the current debt collection process in this country. They touched on information reported by the Federal Trade Commission, FTC, about the number of complaints of debt collector harassment issues on the rise. Apparently these debt collectors haven’t heard of a little thing called the “Fair Debt Collection ... Read More »

Forgotten Regulations That You Can Use to Make Your Creditors Treat You Fairly

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If you are concerned about the way credit card companies and other lenders do business, you will be pleased to discover a little known regulation enacted for your protection. Regulation Z, or the Truth in Lending Law, regulates certain credit card practices and helps you know the true cost of credit and achieve a fair and timely solution to credit ... Read More »

Plastic Power: Smart Strategies for Making the Most of Your Credit Cards

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At GetOutOfDebt.org, we help thousands of people with too much debt. So you probably figure we’d think credit cards are terrible, right? Wrong! Credit cards can be a great tool and can even save you money if you’re smart about how you use them. That doesn’t mean charging up a storm on things you can’t afford, or even using your ... Read More »

Parents: Helping Your Child With Credit Problems

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George’s parents were applying to refinance their home when they found that George had opened several credit card accounts using their names. He even forged their signatures. When they confronted him, he simply shrugged and told them he couldn’t qualify on his own – how was he supposed to get credit? Sarah’s parents cosigned a credit card application for her ... Read More »

Do It Yourself Guide to Credit Reports: 10 Ways to Improve Your Credit

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So your credit’s not so hot. A few late payments, maybe an account or two that went to collections. What’s the big deal? As you’ve probably found out, it may be a very big deal. You’ve probably already been turned down for the best credit cards and maybe you’ve had trouble getting a car loan. Perhaps you’ve even put off ... Read More »

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