Credit Card News

• Disappointing Credit Card Predictions for 2008
  PricewaterhouseCoopers has released their credit card predictions for 2008. Will these financial swamis hit the nail on the head? For the sake of card holders, let's hope their aim is off.
• TJ Maxx's Theft Among the Largest Hack-Jobs Ever
  At least 45 million shoppers using credit and debit cards at TJ Maxx and Marshalls have had their card details stolen from hackers, over a period of 4 or more years. This is believed to be the largest breach of consumer information in history.
• Credit Card Theft Hurts Retailers and Credit Card Consumers
  Thanks to the zero liability policy offered by most credit card issuers, if your credit card is stolen you’re typically only liable for a very small portion of the unauthorized purchases- if any. Even if a thief charges thousands of dollars on your credit card, a zero liability policy means you don’t pay for it.
• Citibank Credit Cards Eliminate the “Any time for Any Reason” Interest Rate Increase!
  Just about everyone over the age of 18 has at least one credit card- if not four or more! Credit cards are very convenient, but can quickly turn into your arch nemesis. Consider opening your credit card statement to find the interest rate has been increased, yet you did not make your payment late, and can determine no other reason for the rate hike. Citigroup Inc has decided to put an end to many of the interest rate increases that consumers are baffled by.
• Gas Stations Experiencing Decreased Profits Despite Higher Gas Prices- Due to Credit Cards
  Higher gasoline prices are not only a source of constant frustration for consumer wallets, but convenience stores selling gasoline are also finding the higher gasoline prices a major challenge. Increased gasoline prices do not necessarily mean higher profits for retailers as one might think- instead, the higher gas prices result in higher costs that actually reduce profit margins for gasoline retailers- particularly due to the increase in the amount of credit card fees paid.
• American Express Reports 12% Increase During the 4th Quarter
  On Monday, January 22nd, American Express reported that they saw a 4th quarter increase in profits of close to 12 percent. American Express is ranked the number four credit card issuer in the United States.
• Bank of America to Become the Largest Manager of Private Wealth in the US
  When Bank of America purchases U.S. Trust for $3.3 billion (in cash!), they will move from the second largest management firm of private wealth to the single largest in the United States, based on financial reports from private US banks on September 30, 2006. Once the banks are combined under Bank of America in March 2007, they'll be managing a total of $261 billion in assets.
• Are Credit Card Perks of Yesterday Becoming a Past time?
  For the third time this year, yet another major credit card company has decided to reduce or trade in some of the best perks of its Membership Reward Programs, which previously lured thousands of current credit card holders to its reigns who boasted time and time again about their year-end savings.
• Credit cards coming to vending machines?
  Breaking news for those who frequent vending machines.
• Another Reason to Go Major
  On Saturday, September 9, 2006, an era in American shopping history will come to an end as Federated Department Stores Incorporated completes the last step in its purchase of May Department Stores
• Credit Card Phishers
  For the last few years or so, there has been a steady increase in the amount of people who are out to steal your banking or credit card information. These people are typically referred to as “credit card phishers”, and they are “phishing” for your account information in order to rob you blind, basically.
• Foreign Banks Set Up Shop in China
  At the end of 2006, China will finally welcome foreign banks into their country. Similar to the gold rush, banks are tripping over each other to be the first into the country to take over what is assumed to be a quickly growing, financial market.
• Capital One to Buy North Fork Bank
  During a time when it seems like banks are all merging and buying out smaller banks, Capital One continues to grow. Capital One is going to be buying out North Fork Bank for approximately $14.6 billion in cash and company stock. This buyout deal will rank Capital One as one of the top 10 banks in the country.
• The Cost Of Ignoring Credit Card Debt
  While credit card debt is unsecured debt and you can be sure that no one will knock on your door to foreclose on or repossess your property, there are still consequences of ignoring your debt.
• The Potential Hazards For First Time Credit Card Users
  First time credit card users are often uneducated about the potential hazards of using credit cards and how to avoid financial diffculty.
• Using Credit Cards To Pay For College - Good Idea Or Bad Idea?
  Paying for college tuition with your credit card may seem like a far-fetched idea, but in reality it's an idea worth considering.
• CyberSource To Purchase CardSystems
  CardSystems awaits possible buyout
• Drag And Drop Credit Cards On The Horizon
  E-cards soon to be offered for online credit card purchases
• Will You Be Sued Over Credit Card Debt?
  Why some are more likely to be sued than others
• Credit Card Companies Offering Assistance To Hurricane Victims
  Assistance to hurricane victims
• MasterCard Makes Plans To Go Public
  Sweeping Changes for MasterCard
• Closing Credit Card Accounts – Taking The Proper Steps To Protect Your Credit Rating
  Proper Steps To Cancel Credit Accounts
• Citibank To Launch MasterCard PayPass Keychain For Debit Card Customers
  Citibank is entering the contactless payment arena with the new PayPass keychain. Debit card customers will be able to simply pass the keychain in front of a special PayPass reader and the funds for purchases will be deducted immediately from the cardholder's account.
• College Students And Credit Card Debt
  A recent survey has shown that college students use credit cards for many reasons including purchasing personal items, paying for living expenses and tuition, and buying clothing. Over 65% of college students use credit cards and over half have significant credit card debt.
• Teens And Credit Cards - Teach Your Teen To Spend Wisely
  Credit Cards For Teens
• Online Shoppers Favor Debit Cards Over Credit Cards
  Increased use of debit cards
• Credit Card Mania Spans The Globe
  international use of credit cards
• Tips On Reducing Your Credit Card Debt
  Making a plan to pay off your debts
• Minimum Payments On Credit Cards Will Soon Be Higher
  New regulations For Credit Card Payments
• Visa To Launch Campaign To Protect Consumer Data
  Reducing Fraud And Monetary Losses
• Universal Default And What It Means To Consumers
  Increased Interest Rates Due To Late Payments
• Balance Transfers - Will You Really Save Money?
  Hidden fees could end up costing you more
• Credit Cards And Virtual Signatures
  Radio tags and the use of credit cards
• How Many Credit Cards Should You Have?
  Credit cards and the effect on your credit score
• The Debut Of "Contactless" Credit Cards
  The new cards are embedded with a computer chip that will no longer require consumers to swipe their card and sign a receipt.
• Credit Card Interest Rates on the Rise
  Rising penalties and universal default fees have lead to higher payments for consumers.
• Lawsuit Over Visa, MasterCard Fees Dismissed
  Antitrust charges against Visa, MasterCard and three major banks were dismissed.
• First Data Corp Enters South Asia Market
  Moving into Singapore gives First Data Corp a major foothold in the South Asian Market.
• CardSystems Future May be in Jeopardy.
  After recent identity theft problems, CardSystems faces uncertain future.