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Credit Card Industry

American Express Targets Whippersnappers With FourSquare Credit Deals

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It was only a matter of time before credit card companies entered the location-based, social media scene. It was announced today that American Express and Foursquare have officially teamed up. I remember when Foursquare hit the scene back in 2009. “This is stupid” I said. “Why would I want anyone to know where I am? This won’t last” Wrong. A ... Read More »

Are Stay-At-Home Mom’s At Risk For Being Denied Credit?

The Federal Reserve has recently proposed new rules in credit card lending to only consider one’s personal income and not the household’s income. Essentially, this sounds smart. They are trying to prohibit those without a steady income from taking on credit, especially those unable to repay their debt. However, Margaret Ryznar points out an outstanding point in her most recent ... Read More »

The Effectiveness Of Tearing Up Unwanted Credit Card Offers

credit card application

Ever wonder how effective tearing up an unwanted credit card offer is? Many will just tear it in half, or even tiny pieces, throw it in the garbage and never think of it again. However, how easy would it be for a criminal to get a hold of your garbage and tape it back together? So many of us think, ... Read More »

CFPB to Look Over Credit Protection Products Sold to Consumers

Compare Debt Protection

One of my favorite blogs, the Consumer Law & Policy Blog announced this morning that the GAO has completed their report on credit and debt protection products sold to consumers by credit card companies. You know, these are the credit protection plans that are sold to cover you in case you can’t pay the bill or are injured or laid ... Read More »

Building Your Financial Future: Advice For 20-Somethings

Photo Credit: AMagill

photo © 2009 Andrew Magill | more info (via: Wylio)A lot of people always say that sometimes no credit is just as bad as poor credit. And I’d like to attest, this is correct. I, Amanda Miller, am in my 20s. Which means, you guessed it, I am the poorest I will ever be again (knock on wood). When I ... Read More »

Credit Cards Becoming Available Again for High Risk Consumers

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I’ve been saying it all along through this financial crisis, as soon as the banks feel comfortable with their ability to manage their risk they will be back to extending credit again to high risk consumers. And I’ve also been saying that while consumer savings rates are high now, all it will take is credit card offers and increasing consumer ... Read More »

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 »

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