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CARDNEWS FOR CONSUMERS
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(9/30/02)
Delinquency Tumbles
Credit card delinquencies continue to decline this year. Second quarter credit card delinquencies based on total dollars outstanding fell to 4.08% from the previous quarter's 4.50% level but below the 4.13% level reported one year ago
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(9/27/02)
Visa Gift Cards
Just ahead of the holiday season, VISA U.S.A. announced this week it has expanded its suite of prepaid products to include the "VISA Gift" card. The new card includes four primary product applications targeting consumers, employers, and corporate clients.
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(9/26/02)
Wrist Payments
Why carry a card when you can buy stuff with the flick of the wrist. Two theme parks in Atlanta have begun using wireless wristbands to enable visitors to pay for merchandise and refreshments, as well as to gain access to parks, individual rides, and lockers.
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(9/25/02)
GameCreds VISA
CNET's GameSpot unit is set to launch the first prepaid debit-card based rewards and rebates program for gamers. "GameCreds VISA" members simply enter their codes at the GameCreds Web site and rewards are instantly deposited into their account for immediate use.
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(9/24/02)
Vette Votes
As the Corvette celebrates its 50th anniversary next year, MasterCard is launching a "Vote For Your Vette" promotion. Corvette MasterCard users and online visitors will have a chance to win a 2003 "50th Anniversary Corvette" and a trip to the "Corvette 50th Anniversary" celebration..
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(9/23/02)
Amazon Platinum
If you plan to hit Amazon.com for holiday shopping you might want to consider applying for their new "Platinum VISA." As part of an introductory offer, individuals who apply for the new Amazon.com card and use it at Amazon.com before November 15th, will earn a $20 promotional certificate toward a future Amazon.com purchase.
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(9/20/02)
Credit Protection
Programs that offer to cancel your credit card debt if you die, or make your monthly payments when you are disabled or unemployed, have always been exorbitantly expensive for consumers. Finally, government regulators are stepping in and clamping down on such programs that are offered directly from banks.
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(9/19/02)
Xmas Outlook
Despite the funky economy, this Christmas holiday shopping season might turn out okay. Holiday retail store sales are projected to increase 4% this year, a modest, but solid gain, compared to last year's 5.6% increase.
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(9/18/02)
Careless Students
A new survey suggests that a good portion of college students do not properly dispose of direct mail credit card offers, reconcile their credit card and/or checking account balances, or change their passwords/PINs. Nearly 30% of students rarely, if ever, reconcile their credit card and/or checking account balances, according to the survey conducted by the Chubb Group of Insurance Companies.
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(9/17/02)
Debit Fight
The six-year old fight between retailers and VISA/MasterCard over debit cards will finally be coming to a head next year as it heads into the courtroom.
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(9/13/02)
Virginized
Starting October 1st, the American Express Delta Airlines "SkyMiles" program will include Virgin Atlantic Airways, offering "SkyMiles" members the opportunity to earn and redeem miles for flights on Virgin Atlantic.
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(9/12/02)
Credit Rebound
More evidence the economy is slowly but surely recovering: credit card debt expanded by $6.5 billion in July. One year ago, as the recession was taking hold, consumers loped off $2.2 billion from revolving credit during July.
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(9/9/02)
Credit Con Artists
The Federal Trade Commission and 15 state and federal law enforcers last week announced the results of their joint "Operation No-Credit" law enforcement campaign. The campaign netted 43 actions against credit con artists.
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(9/6/02)
Card Gotchas
Some credit card issuers are now making special offers of super low or zero percent interest rates for cash advances. Getting cash from your credit card has always been a bad deal as you get hit with a triple whammy.
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(9/5/02)
Mosaik MasterCard
The days of "one-size-fits-all" credit cards are over. This week, BMO Bank of Montreal introduced a new MasterCard that enables Canadians to choose a reward program, special features, rate plan, and the card design. The "Mosaik MasterCard" offers 900 potential combinations.
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(9/4/02)
Upper Crust Perks
The snob appeal of the nation's most affluent card products ramped up a few notches this week as Virgin Atlantic Airways and Delta Air Lines announced they will join the American Express "International Airline Program."
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(9/3/02)
BabyMint Scholarship
To celebrate "National College Savings Month," BabyMint is offering a $100 scholarship to every family that joins the company's savings program during the month of September. The "Tuition Rewards" scholarships are redeemable at nearly 150 colleges and universities nationwide.
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