|
CARDNEWS FOR CONSUMERS
|
(8/31/01)
Card Debt
Americans now carry an average credit card balance of $8,488 per household, at mid-year 2001. Considering that 85% of this amount accrues interest, at an average rate of 15%, the average U.S. family is shelling out more than $1,000 per year in debt service costs.
-READ MORE |
(8/30/01)
Visa Passwords
Using credit cards to make purchases online will be a more secure process this fall as the new Verified by VISA program takes effect. The new program enables VISA card issuers to validate the identity of their cardholders in real time, with passwords, during online payment transactions.
-READ MORE |
(8/29/01)
The Surge
More than 400,000 personal bankruptcies were filed during the second calendar quarter of 2001, the highest number ever filed in one quarter. The surge is partially driven by impending legislation to change the bankruptcy laws.
-READ MORE |
(8/29/01)
Golf Card
For three hundred bucks a year you expect a lot from a credit card. The new Diners Club Carte Blanche Card has now created an exclusive golf access package for the well heeled.
-READ MORE |
(8/24/01)
Today Show
CardWeb.com's CEO, Robert McKinley, and three of his children, will be interviewed live on NBC's Weekend Today Show this Sunday, August 26 to discuss the challenges of managing a business that employs family members. The Today Show interview was prompted by a recent feature story in the New York Times detailing the challenges Mr. McKinley faces in the dual, and sometimes conflicting, roles of father and boss.
-READ MORE |
(8/22/01)
Rate Damper
Credit card rates have declined significantly this year, but not as significantly as the prime rate. This week's prime rate decline, from 6.75% to 6.50%, will not be passed on to many cardholders due to the pricing policies of some issuers.
-READ MORE |
(8/20/01)
High Altitude Cards
Chase and Continental Airlines are set to take-off with a new set of credit cards offering real snob appeal. The new World MasterCard and VISA Signature editions of the Chase/Continental OnePass credit card offer the highest level of level concierge services plus the advantage of a no pre-set spending limit with the option to revolve a portion of the spending.
-READ MORE |
(8/16/01)
Amtrak Mastercard
The new MBNA Amtrak Guest Rewards MasterCard is now on track after Amtrak unhitched the Amtrak smartrak rewards VISA card issued by Capital One. The new co-branded card ties into the Amtrak Guest Rewards loyalty program which was launched last November.
-READ MORE |
(8/15/01)
Card-Fil-A
The second largest quick-service chicken restaurant chain in the USA is gearing up to take credit cards. Chick-fil-A is now testing credit card acceptance in a few of its western restaurants.
-READ MORE |
(8/14/01)
Pennies Galore
An Alaskan man is slowly becoming penniless after unloading tons of coins into a green Coinstar machine in an Anchorage supermarket. It took fifty-seven year old Sylvester Neal nearly 27 hours to cash in 792,141 pennies which weighed more than five tons.
-READ MORE |
(8/10/01)
Wallets Closing?
While strong consumer spending and borrowing has kept the economy afloat, there is some evidence that consumers may be entering a cautionary period with regard to credit cards. For the first time in four years, consumer borrowing for big-ticket items, such as automobiles, has declined.
-READ MORE |
(8/8/01)
Reform March
While the majority of Americans believe, that given the funky economy and rising unemployment, this is not the time to make personal bankruptcy laws more restrictive, the march to bankruptcy reform is stronger than ever.
-READ MORE |
(8/7/01)
Fee Barrier
More and more credit card issuers are crossing the $30 barrier in late payment fees and over-limit fees. Most of the top issuers slowly jacked-up late fees from an average of $12 in 1994 to slightly less than $28 today.
-READ MORE |
(8/1/01)
Rage Insurance
American Express has come up with a solution to calm your nerves in the "unlikely event" you do not make your flight. However you better make sure your chair is in the "upright and locked position" and you are firmly seat belted before you hear the cost.
-READ MORE |
(8/1/01)
Online Spree
An August promotion kicked off today that offers VISA cardholders the chance to win a $50,000 VISA card. Each time cardholders use their VISA card to make an online purchase at participating merchants between August 1 and August 31, they will be automatically entered to win.
-READ MORE |
