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CARDNEWS FOR CONSUMERS
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(10/31/01)
Disclosure Rules
Revised rules for credit card solicitations and applications which make
disclosure tables more noticeable, simpler, and easier to use, went into
effect
this month. The mandatory changes, effective October 1, requires, among other
items, card issuers to disclose the regular APR for purchases in at least
18-point type, under a separate heading in the disclosure table, so that it is
more prominent than any temporary introductory rate.
-READ MORE |
(10/30/01)
Harley Promo
Here is an opportunity to win a rare piece of Americana. Harley-Davidson and
U. S. Bank are revving up a sweepstakes this week that will give away the
exclusive 2002 Harley-Davidson V-Rod motorcycle. The promotion is part of the
Harley-Davidson VISA Card Me Sweepstakes that runs November 1 through April
30, 2002.
-READ MORE |
(10/26/01)
Upromise MasterCard
Citibank launched the 'Citi Upromise Platinum Select MasterCard' yesterday. In April, Citibank joined with several other top U.S. companies in the launch of the Upromise college savings program.
-READ MORE |
(10/25/01)
Advanced Gift Cards
A revolutionary new gift card is hitting the US market this week which
features an actual display of its monetary value directly on the front of the
card. The new stored value gift card from Visible Results USA is built around
the thermo-chromic technology developed for the company's GraphiCard loyalty
card application.
-READ MORE |
(10/24/01)
ID+ Card
College identification cards have been taken to a new level with the
introduction of the smart Penn State id+ Card. Beginning next spring, Penn
State students, faculty and staff who are customers of PNC Bank will have the option
of linking their id+ card to a PNC Bank checking account.
-READ MORE |
(10/22/01)
No-Hassle Card
Capital One is pitching a new package of unprecedented cardholder commitments
not seen since the launch of the AT&T Universal VISA/MasterCard in 1990. The
No-Hassle Platinum MasterCard guarantees no balance transfer fees, no cash
advance fees, no annual fees, and no foreign exchange fees "ever".
-READ MORE |
(10/22/01)
Expo Cancelled
Travel jitters have forced the cancellation of one of the payment card
industry's biggest events. The International Card Manufacturers Association
said last week they have pulled the plug on the 11th Annual Card Manufacturing
EXPO 2001 that was scheduled to take place next month in Athens, Greece.
-READ MORE |
(10/18/01)
CardMail Fears
The fear of anthrax infested mail may affect the response time by credit card
issuers to customer correspondence and could potentially slow down the timely
processing of credit card payments. Last week, Providian received two Seattle-postmarked envelopes
with a yellowish, powdery substance that had leaked
from one of the envelopes and partially coated the other.
-READ MORE |
(10/16/01)
Patriotic Cards
In the wake of rising nationalism more patriotic cards are emerging. 5Star
Bank, formerly known AFBA Bank, has launched two United We Stand VISA and
MasterCards.
-READ MORE |
(10/15/01)
Home ATM
For the dude with all the gizmos, here comes a new one. High-end specialty toy
retailer, FAO Schwarz, is now offering a customized home ATM this holiday
season for a mere twenty grand. The latest FAO Schwarz holiday catalogue,
shipped last week to six million Americans, is full of new fangled gizmos like
the personal stand-alone ATM.
-READ MORE |
(10/12/01)
Double Perks
Consumers are beginning to be bombarded with unprecedented incentives to start
traveling again. This week Marriott announced it is extending and expanding its
rewards program.
-READ MORE |
(10/12/01)
Goody Card
The gift card bandwagon is bigger than ever this year. Music retailer Sam Goody
said this week it has issued nearly five million gift cards since launching
them in 1999.
-READ MORE |
(10/11/01)
Card Case
Banks that issue VISA and MasterCards may soon be able to issue American
Express and Discover cards too, if they so choose. Currently, banks that are
members of VISA or MasterCard are prohibited from issuing other cards.
-READ MORE |
(10/11/01)
Hooters Card
Hooters of America has launched a gift card program for the holidays that
offers a choice of ten collectable cards featuring the Hooters Girls. The gift
cards can be used at any location for all restaurant charges and will include a
pre-paid amount of credit.
-READ MORE |
(10/10/01)
Debt Spiral
In another sign that consumers have pulled back on spending and debt
accumulation, revolving credit grew a mere 2.1% during August. American
consumers added only $1.2 billion to new revolving debt during the month versus
$5.9 billion last August.
-READ MORE |
(10/10/01)
On Target
In less four weeks the most significant launch of smart VISA cards in the USA
will get underway. Target unveiled this week the design of its new smart VISA
card which will start taking applications on November 1st.
-READ MORE |
(10/4/01)
Debit Poll
More then half of Americans believe that merchants should not have the right to require the use of a PIN when making purchases with a VISA or MasterCard debit card. Nearly 60% say they would opt to sign for debit card purchases, instead of using a PIN, if they were rewarded with points or air miles.
-READ MORE |
(10/2/01)
MSN Titanium
The 800 pound gorilla finally snags a credit card and it's not platinum or gold. Microsoft has teamed up with First USA to offer the MSN Titanium VISA card.The new translucent card features a 0% introductory rate for six months, free MSN Internet Access for six months, and a complimentary version of Microsoft Money 2002 Standard software.
-READ MORE |
(10/1/01)
Flag Card
The sudden burst of patriotism coming from the recent horrible acts of terrorism against civilians, may be a boon for one major American credit card issuer. In June, Discover began heavily promoting its series of American Flag Cards and now, following the twin disasters in New York and Washington, the card issuer has added disaster relief funding program tied to all its 41 million cards.
-READ MORE |
