August 2010 News
- Survey Shows Age Plays a Major Role in Properly Managing Credit Card Debt
Category: Credit Card News
August 31, 2010
Years of experience managing a credit card account may not be the most important factor when it comes to making the best decisions about how to reduce debt.more
- Young Americans upbeat about achieving American Dream
Category: Credit Card News, Credit Crunch News
August 30, 2010
While many young Americans are leaving college with credit card debt and large student loans, a new study has found that they aren't necessarily downcast about their financial situation.more
- College offering students credit card education
Category: Student Credit Card News
August 28, 2010
Many college-age consumers struggle with their finances, particularly if they have unwisely used a credit card. However, one college in South Carolina is now offering students a way to learn the ropes without putting their credit at risk.more
- Credit card solicitations through the roof
Category: Credit Card News
August 27, 2010
Restrictions on credit card companies have tightened due to new federal laws; however, major credit issuers continue to aggressively pursue new customers.more
- Young Bostonians struggle with credit card debt
Category: Credit Card News, Credit Crunch News
August 27, 2010
Many Americans are having trouble with their finances these days, and young people are no different. But a significant portion of Generation Y consumers in Boston have reported that they are particularly vexed by their outstanding debt.more
- Lower swipe fees could cost banks billions
Category: Credit Card News, Credit Card Legislation News
August 27, 2010
When the Federal Financial Reform Bill was recently passed, one of the provisions limited how much companies could charge for swipe fees. While that's a boon for small businesses, it could cost major banks dearly.more
- Average credit card balances hit eight-year low
Category: Credit Card News, Economy News
August 25, 2010
In its latest quarterly analysis of credit card trends, one major credit reporting agency found that the average borrower's credit card debt dropped to the lowest levels observed since 2002.more
- Continuing drops in delinquency bode well for economy
Category: Credit Card News, Economy News
August 25, 2010
Earlier this week it was reported that both delinquencies and charge offs decreased once again in the second quarter of this year.more
- New Jersey reining in credit card offers on campuses
Category: Credit Card Legislation News
August 24, 2010
One of the provisions of the new Credit Card Accountability, Responsibility and Disclosure Act makes it difficult for consumers under the age of 21 to get a credit card, but the state of New Jersey is taking the protection of college students a step farther.more
- Mobile banking growing in popularity
Category: Online Banking News
August 24, 2010
As technology improves, the way people keep an eye on their bank accounts and credit card debt is changing rapidly.more
- More Consumers Use PayPal in Addition to Credit Cards for Online Purchases
Category: Credit Card News
August 23, 2010
While credit cards are still by far the most popular payment method for online purchases, PayPal is growing in popularity.more
- Final credit card rules have taken effect
Category: Credit Card Legislation News
August 23, 2010
More than a year after the bill was initially passed, the final provisions of the Credit Card Accountability, Responsibility and Disclosure Act have taken effect.more
- Consumers Opting to Cover Overdrafts with Their Credit Cards
Category: Credit Card News, Credit Card Legislation News
August 23, 2010
In a move that has come as a bit of a shock to some experts, a large number of American consumers say they will opt into the new overdraft protection plans offered by their banks.more
- Credit card payments for court fines now accepted in Minnesota
Category: Credit Card News
August 21, 2010
Consumers that have been hit with court fines in Minnesota's Olmstead County can now pay them off with a credit card, and they don't have to go to a courthouse to do it.more
- Bank of America, Visa team up for smartphone payment plan
Category: Credit Card News
August 21, 2010
Just a few weeks after rumors began circulating that several major cell phone carriers would soon begin testing a revolutionary payment system, Visa and Bank of America have beaten them to the punch.more
- New Jersey adds student credit card restrictions
Category: Credit Card Legislation News
August 20, 2010
Many college students can be lured into taking on thousands of dollars in credit card debt because of their relative inexperience with their personal finances, but one state has adopted laws that it hopes will prevent that.more
- Credit card companies now marketing more aggressively to small businesses
Category: Credit Card News, Credit Card Legislation News
August 20, 2010
A loophole in the protections offered by the Credit Card Accountability, Responsibility and Disclosure Act has led to lenders sending more offers to small businesses.more
- New credit card can help manage spending
Category: MasterCard Credit Card News, Citibank Credit Card News
August 20, 2010
Many consumers across the country may find they are concerned with how much they spend on their credit cards, but feel powerless to rein themselves in.more
- Consumers prefer frequent flier miles
Category: Airline Rewards Credit Card News, General Rewards Credit Card News
August 20, 2010
When consumers choose a credit card that will offer them some sort of reward, they have a number of choices. However, one particular option still dominates the rest.more
- Gift card changes won't affect prepaid credit or debit accounts
Category: Prepaid/Debit Card News, Credit Card Legislation News
August 19, 2010
Beginning on Sunday, the changes to the rules affecting gift cards that were mandated by the Credit Card Accountability, Responsibility and Disclosure Act will go into effect. However, some consumers may be surprised to find they don't affect prepaid or reloadable credit and debit cards.more
- New survey finds more consumers use mobile phones to make purchases
Category: Credit Card News
August 19, 2010
As more consumers begin to own smartphones, the likelihood that they will use those handsets to make purchases with their credit cards will only increase.more
- J.D. Power: Consumers more satisfied with credit cards
Category: Credit Card News
August 19, 2010
For the first time in three years, more consumers say they are satisfied with their credit cards, reversing a trend that bottomed out last year.more
- PayPal wants to take down credit cards in the real world
Category: Credit Card News
August 18, 2010
Despite being one of the internet's most popular payment systems, PayPal wants to continue to expand - this time into the real world.more
- Credit card spending drives Target sales
Category: Credit Card News, Economy News
August 18, 2010
Consumers may have spent less over the last quarter, but one major retailer said that revenues from its credit card unit helped to drive profits up significantly.more
- Americans closing out more credit card accounts
Category: Credit Card News, Credit Crunch News
August 18, 2010
Over the last several quarters, Americans have been more successful in paying off their outstanding debts. But rather than take on more, they're simply closing their credit card accounts.more
- Minimum credit card payments could soon grow in popularity
Category: Credit Card News, Credit Card Legislation News
August 17, 2010
Thanks to the new credit card laws that were recently passed, consumers may soon have to get used to business-set minimums when they make a purchase with their credit cards.more
- Libraries to accept credit cards to pay late fees in California county
Category: Credit Card News
August 17, 2010
People who have library books past due in one California county now have a new option for paying their late fees.more
- Consumers were less delinquent with their credit card payments in July
Category: Credit Card News, Economy News
August 16, 2010
Over the past several months, many of the nation's major credit card issuers have reported more on-time payments, and the latest figures show that July was no different.more
- Some New York restaurants no longer accepting credit cards
Category: Credit Card News
August 16, 2010
Many small business owners have grown tired of paying swipe fees every time they process a credit card transaction, and now a number of restaurants in New York City are starting to fight back the only way they can.more
- Smartphone payment system has rumored trial cities
Category: Credit Card News
August 16, 2010
Though nothing is official yet, it seems as though the cities that will host the test run of a smartphone payment system have been selected.more
- Mississippi drivers can use credit card when renewing license
Category: Credit Card News
August 16, 2010
Many consumers are all too familiar with the frustrations of visiting the Department of Motor Vehicles when they need their license renewed. But the state of Mississippi is now allowing them to take care of the process in a matter of minutes.more
- Many lenders still finding a way around the Credit CARD Act
Category: Credit Card News, Credit Card Legislation News
August 14, 2010
Though the provisions in the Credit Card Accountability, Responsibility and Disclosure Act were designed to eliminate the costly practices of banks that cost consumers money, many fees, both new and old, still linger.more
- Debit card bill awaits governor's signature
Category: Credit Card News
August 13, 2010
A California measure that will do for debit card swipe fees what the federal financial reforms did for those of credit cards needs only to be signed by Governor Arnold Schwarzenegger to become law.more
- Credit card security standards to be revised in September
Category: Credit Card News
August 12, 2010
The group that oversees how credit card companies store and protect their customers' personal identity information will mandate new changes in the next few weeks.more
- Vending machines will tie thumbprint to credit card accounts
Category: Credit Card News
August 12, 2010
In the near future, consumers will be able to use their thumbprint or retinal scan to buy a bag of chips or a candy bar from their office vending machine.more
- Airlines offering more bonus miles
Category: Airline Rewards Credit Card News
August 11, 2010
Many consumers who are interested in acquiring frequent flyer miles may have noticed an increase in the amount of bonus miles airlines are offering these days.more
- New smartphone app aims to replace credit cards at restaurants
Category: Credit Card News
August 11, 2010
When dining out at restaurants or bars, many consumers may be frustrated when servers take too long to come back with their checks. These problems could soon be over.more
- More businesses use Citi than any other credit card issuer
Category: Citibank Credit Card News
August 11, 2010
A new study found that more businesses of all sizes use credit cards issued by Citi than those from any other lender.more
- FTC pushes for reform of unclear debt collection laws
Category: Credit Card News, Credit Card Legislation News
August 10, 2010
Many consumers across the country who have found themselves too deep in debt, whether it's related to credit cards or otherwise, may discover that their balances were sold to a debt collection agency. Now the rules regulating their debt collectors could soon be changed.more
- California state senator's new bill aims to further rein in swipe fees
Category: Credit Card News, Credit Card Legislation News
August 10, 2010
While the new federal credit card laws give the government more control over credit card interchange fees, a new bill in California would give the state even more oversight.more
- Cities losing money by not allowing consumers to pay for municipal services with credit cards
Category: Credit Card News
August 10, 2010
While cities and towns across the country have made large steps to improve their municipal services, they have perhaps ignored one that could easily drive more revenues.more
- Number of new credit cards has dropped
Category: Credit Card News, Credit Crunch News
August 9, 2010
The recession that has gripped the country for the last two years has had a profound effect on the way consumers obtain and use their credit card accounts.more
- Questionable credit card practices lead to subpoenas
Category: Credit Card News
August 9, 2010
Two major credit lenders have been subpoenaed in New York's ongoing investigation into the issuance of health care credit cards.more
- More consumers choose to relieve credit card debt with bankruptcy
Category: Credit Card News, Economy News
August 7, 2010
The number of Americans that opted to file for bankruptcy to fix their credit card problems increased last month.more
- Growing number of Pennsylvania residents pay their taxes by credit card
Category: Credit Card News
August 7, 2010
Despite the fact that they are charged an additional fee, more residents of Pennsylvania are paying off their annual tax bills by credit card.more
- Software allows businesses to process credit card sales on mobile phones
Category: Credit Card News
August 7, 2010
In the past, it would have been difficult for a small business to process credit card transactions away from their storefront or office, but a new program could change all that.more
- Credit card rates remain unchanged for the sixth week in a row
Category: Credit Card News
August 6, 2010
While many experts expected a certain amount of volatility in the wake of more economic reforms, it seems that the legislation's effects have yet to extend their reach to credit card interest rates.more
- Consumers saved more in June
Category: Economy News
August 5, 2010
Despite small gains in their average disposable income, Americans saved more money in June than they did in the previous month.more
- Wells Fargo will eliminate penalty interest rates
Category: Credit Card News
August 4, 2010
In the past, when consumers fell behind on their credit card payments, they could expect to be hit with a sizeable penalty interest rate. But for borrowers of one lender, that worry will soon be a thing of the past.more
- MasterCard's profits make huge leap as consumers increase per-purchase spending
Category: MasterCard Credit Card News
August 4, 2010
The world's second-largest credit card network announced that it posted large profits in the second quarter of the year.more
- Consumers with bad credit more likely to use debit cards
Category: Credit Card News
August 4, 2010
Consumers with a credit score below 650 are far more likely to use their debit card than credit card, a new study has found.more
- Major cell phone carriers to introduce new payment system to challenge credit card lenders
Category: Credit Card News
August 3, 2010
Consumers that want the ease of paying without cash but don't want to use their cards to accumulate new credit card debt might soon have a new option.more
- Credit card companies still working around year-old Federal laws
Category: Credit Card Legislation News
August 2, 2010
Though many credit card companies have fallen in line with the changes implemented by the new laws governing lending, others have found ways to regain the lost profits by exploiting loopholes.more
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