CARDNEWS FOR CONSUMERS
(2/28/01) Hypocrites
Credit card issuers are being blasted as hypocrites. The Consumer Federation of America released a report this week crying foul over the credit card industry's pushing of bankruptcy reform while at the same time pushing big credit lines to consumers.
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(2/27/01) Bankruptcy Decline
While there are mounting concerns that personal bankruptcies will rise this year, the final tally for 2000 shows a 5% net decrease over 1999.
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(2/23/01) Coins2Cards
Before long, those tall, green, coin counting machines you see in supermarkets will be dispensing prepaid MasterCards. Coinstar, DataWave, and Michigan National Bank announced this week they have teamed to issue a MasterCard branded prepaid card through the Coinstar and DataWave networks.
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(2/21/01) Credit vs. Savings
Believe it not, many Americans live from paycheck to paycheck, do not save, and are losing wealth everyday. One reason for this dilemma is high interest credit card debt, especially among lower income households.
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(2/16/01) Student Debt
A new report released this week shows that students are drowning in credit card debt. The Nellie Mae (Sallie Mae's daughter) study suggests that student credit card debt may eventually contribute to student loan defaults.
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(2/15/01) Tax Miles
Charging personal income taxes is getting sweeter as American Express is now awarding double air miles to cardholders of its Delta co-branded credit cards.
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(2/14/01) Debt Drops
Further signs of an economic problem -- American consumers hit the brakes in December with credit card debt. During December, U.S. cardholders added a meager $2.0 billion in total revolving debt compared $6.0 billion for December 1999.
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(2/13/01) Travel Stuff
Travelocity and MasterCard have teamed up to launch the Getaways Sweepstakes. Meanwhile, VISA and Europebyair.com have formed an alliance and have launched Exclusive Escapes.
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(2/9/01) CreditExpert
The nation's top credit reporting bureaus are pulling up their skirts to give consumers a full view of their personal credit files. While Equifax and Experian offer online access to credit files and the dispute process, both firms are gearing up to reveal personal credit scores.
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(2/8/01) Amex PrePaid Cards
Oh thank heaven for American Express and its new gift card and prepaid Internet shopping card. The new 7-Eleven Internet Shopping Card and American Express Gift Card are being sold exclusively at participating 7-Eleven stores in the USA.
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(2/7/01) Bush Reform
With Clinton out and Bush in, lawmakers are holding hearings this week to make a second run at passing bankruptcy reform legislation. The legislation was introduced this week in the Senate by Finance Committee Chairman Charles Grassley (R-I) and in the House by Congressman George Gekas (R-PA).
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(2/5/01) Make-A-Buck
Beware of firms offering oodles of profit from owning an ATM. A Maryland firm offering investments in ATM machines was shut down last week by state government officials.
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(2/2/01) ID Fraud Sentinel
The Federal Trade Commission opened a new Web site that offers the general public information culled from a complaint database. The Consumer Sentinel database is designed to allow law enforcers to share data about ID fraud.
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(2/1/01) ShopRite Card Swap
The first VISA or MasterCards to be replaced with an American Express card is underway in the Northeast. This week, American Express and ShopRite Supermarkets unveiled a cobranded Platinum ShopRite Credit Card.
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