Credit Card News

Credit Card News

Visa and MasterCard, in separate announcements, announced that they had processed a greater number of transactions on a year-over-year basis in February, as consumers continued to use their credit cards more often to complete purchases, according to a report from Dow Jones Newswires.

The new Geode case for iPhone from startup iCache is designed to serve as a kind of stand-in for the NFC technology the popular device currently lacks, according to a report from Tech Crunch. It does so not by being embedded with the NFC gear itself, but rather by circumventing the need for it rather ingeniously.

The total amount of consumer credit taken on by Americans increased significantly in the month of January even as borrowers made concerted efforts to slash the amount they owed on their credit cards, according to the latest statistics on consumer credit released monthly by the Federal Reserve Board. In all, consumer credit rose 8.6 percent to a nationwide total of more than $2.51 trillion, up from December's total of more than $2.49 trillion.

Major corporations are now making significant efforts to simultaneously develop, promote and incentivize consumer adoption of mobile payment systems and digital wallet programs and that will likely pay off within the next few years, according to a report from Computer World. Millions of consumers across the country already have smartphones, and research indicates many already use these devices to guide their in-store purchasing decisions, and thus, experts believe digital wallet adoption cannot be far behind.

A new type of account from MasterCard and Barclaycard US may help consumers looking for high-quality credit card offerings as long as they're willing to join an online community, according to a report from ZD Net. The new account, known as Barclaycard Ring, will essentially allow consumers to join a social network that allows the community to have a voice in negotiating all kinds of terms related to the associated credit card. The card is expected to be launched more broadly in the spring.

USAA was tabbed as having the best customer experience of all 10 of the largest card issuers in the U.S., according to the 2012 Temkin Experience Ratings issued by the Temkin Group. The study looked at 206 major companies in 18 industries, including lenders like American Express, Bank of America, Capital One, Chase, Citigroup, Discover, HSBC, U.S. Bank and Wells Fargo.

Information from the research firm Keynote recently revealed that a number of the nation's top eight lenders - US Bank, Discover, Citi and PNC Card - have websites that are easy for consumers to understand and use when seeking information about credit card accounts, according to a report from Bank Technology News. The study examined user experiences for the websites of the nation's largest lenders, which also include American Express, Bank of America, Capital One and Chase.

In an effort to capitalize on what's expected to become a very lucrative industry in the near future, a large number of businesses are working to develop smartphone applications that will work with various mobile credit card payment systems, according to a report from the San Francisco Chronicle.

Of the 100 metropolitan areas with the highest card balances as a percentage of annual income, nearly 60 percent saw significant declines in those debts over the course of 2011, according to new data from the credit reporting bureau Equifax. In all, the states with the most cities that saw these declines were Florida, Louisiana, California and Washington, where the recent economic downturn hit particularly hard. Florida led the way with five cities seeing the most significant declines.