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CARDNEWS FOR CONSUMERS
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(3/30/01)
Debit Rewards
Incentives to use VISA and MasterCard debit cards are getting sweeter. U.S.
Bank and Northwest Airlines launched a VISA Check Card this week that offers
airmiles for purchases.
-READ MORE |
(3/29/01)
Patent Fight
The U.S. Patent office has made a real mess by granting patents for broad
business methods. Although the credit card industry has been green mailed
by many of these patents, particularly patents for reward and debit card
processes, the problem is most acute for Internet-based firms.
-READ MORE |
(3/27/01)
Priceless Documents
A man using the code name "Cagliostro" was arrested last week by the F.B.I.
for trying to sell confidential MasterCard documents to VISA. The New York
catering company employee tried to sell VISA documents regarding a major
alliance between Disney and MasterCard.
-READ MORE |
(3/26/01)
Decision Time
There is growing evidence this month that more consumers are struggling with
bill payments, especially credit card payments. Rising fuel prices for the
family car and for heating a home may be the culprit.
-READ MORE |
(3/23/01)
1040 Plastic
Americans may charge as much as $1 billion in federal taxes to their payment
cards this year. Last season, Americans charged more than $536 million in
federal taxes to personal MasterCards, American Express and Discover cards.
-READ MORE |
(3/20/01)
Rate WindFall
While the stock market generally sucks this year, the credit card market is
dropping like a rock with lower interest rates. The Feds dropped short term
interest rates today by another half a point.
-READ MORE |
(3/19/01)
Bankruptcy Option
The days of using personal bankruptcy as a personal financial planning tool
are quickly coming to an end. With the Republicans in control, the U.S.
Congress has rammed through legislation that will overhaul the bankruptcy laws
which will make it more difficult for U.S.consumers to walk away from personal
debts.
-READ MORE |
(3/14/01)
Bloody Credit
Credit used to be a dirty word in Europe, but not anymore! Brits are piling on
credit card debt at a record pace thanks to the influx of U.S.-based issuers
into the UK market. London-based Datamonitor reported last week that UK credit
card debt grew 22% annually between 1996 and 2000.
-READ MORE |
(3/13/01)
Future Banking
The bank of the future may carry milk, bread, and coffee as well as cash
checks, issue payment cards and offer ATM services. The world's largest
convenience store chain is introducing a web-enabled, integrated financial
services kiosk that merges the capabilities of an American Express ATM with the
benefits of the Internet.
-READ MORE |
(3/12/01)
Ruskie Hackers
Hackers from Russia and the Ukraine are penetrating credit card databases
connected to e-commerce Web sites. The FBI's National Infrastructure Protection
Center said last week that more than 40 businesses located in 20 states have
been victims of organized
hacker activities specifically targeting U.S. computer systems containing
personal credit card data.
-READ MORE |
(3/9/01)
Credit Ed
Even though Citigroup is battling predatory lending charges with its newly
acquired Associates sub-prime lending business, the nations #1 bank credit
card issuer is burnishing its image with students.
-READ MORE |
(3/8/01)
Store Card Swap
Another card swap is underway. This week some Montgomery Ward credit card
holders are receiving Wal-Mart credit cards as replacement cards.
-READ MORE |
(3/7/01)
Smart Business
The smart card battle in the U.S. picked up momentum this week when VISA
unveiled a smart business card to answer the American Express Blue for
Business smart card. The new smart VISA Business card builds on the
consumer VISA smart card program introduced last September.
-READ MORE |
(3/6/01)
Closing the Book
It is very likely the U.S. Senate will pass S. 420, the bankruptcy reform
bill, this week. The U.S. House approved the same legislation last week by
an overwhelming majority. The House vote was 306 - 108 vote which included
93 "yes" votes from Democrats.
-READ MORE |
(3/5/01)
Discover Fees
U.S. retailers, especially discount warehouses, love the Discover Card for
its lower merchant fees. However, starting April 1st, Discover Card
merchants will have to shell out an extra eight cents for every credit card
transaction.
-READ MORE |
(3/2/01)
Zero-Zero
As general interest rates drop so are credit card teaser rates. Several of the
nation's top issuers have renewed solicitations for bank credit cards with 0%
introductory APRs with no-annual-fee.
-READ MORE |
(3/1/01)
Fraud Rip-Off
You know it is a cruel world when you get ripped off on insurance that is
supposed to protect you from rip-offs.
-READ MORE |
