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CARDNEWS FOR CONSUMERS
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(2/27/03)
Over-Limit Fees
Average fees for going over-the-credit-limit are taking off and may soon catch up with its nasty brother, late payment fees. Discover is joining four other top issuers in jacking up over-limit fees from $29 to $35.
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(2/26/03)
Chase Debit
Chase has launched a 30-day sweepstakes to offer individuals who open a new Chase checking account, between now and March 25th, the chance to win 250,000 "OnePass Miles." Each day Chase will give away 250,000 miles.
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(2/25/03)
Tax Miles
American Express and Bank One have launched promotions this month to reward consumers who charge tax payments to their credit cards. "American Express/Delta SkyMiles Credit Card" users will earn double miles when paying federal income taxes now through April 15th, and one mile for every dollar spent when paying their state income taxes on the card.
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(2/24/03)
Starbucks VISA
For the first time in the USA, a re-loadable stored value card is being
combined with a bank credit card. Starbucks is teaming with Bank One and
VISA to launch the "Starbucks VISA Card" later this year.
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(2/21/03)
Citibank.com #1
Among the nation's top credit card issuers, Citibank has taken top honors for the third time for its highly interactive and functional Web site for its credit card customers. Among Citibank's key differentiators: its full array of pre-formatted self-service requests available on its site including the ability for customers to add and remove authorized cardholders, request a credit limit increase or transfer a balance.
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(2/19/03)
Bankruptcy Record
Bankruptcy filings hit a record 395,129 for the final three months of
2002. For all of 2002, total bankruptcies filed were 1,577,651, up 5.7%
from 2001.
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(2/18/03)
Online Gambling
The New York Attorney General announced last week that ten additional banks
have signed agreements to block cardholders from using their credit cards
for transactions identified as online gambling. The initiative began in
June of 2002 when the Attorney General obtained Citibank's agreement to
block such transactions.
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(2/14/03)
Valentine's Giveaway
Americans have a love affair with debit cards and VISA wants consumers to share the juicy tidbits of their "VISA Check Card" experiences with others. Between now and February 21st, VISA is giving away a $25 "VISA Gift Card" to the first 170 cardholders who log onto visa.com and tell their story.
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(2/13/03)
Dad's VISA
Court ordered child support payments, distributed via a VISA debit card, are now available throughout Colorado. The "Family Support Registry VISA" program began as a pilot in 2001, and is now used by more than 1,200 recipients.
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(2/12/03)
Collegiate Debt
A new survey on student loans has found that 11% of college students using cards to finance their education had credit card balances exceeding $5,000 when they left school. However, the percentage who reported using credit cards for part of their cost of undergraduate education has not increased from the 27% reported 5 years ago.
-READ MORE
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(2/11/03)
Debit Card Miles
Debit Card Miles Rewards for using a signature instead of a PIN for debit card purchases are taking off as Ohio-based KeyCorp introduced Continental Airlines "OnePass" miles for its "MasterMoney" debit card. This spring, Key will offer its two million MasterCard debit cardholders the opportunity to upgrade to the new rewards debit card.
-READ MORE
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(2/7/03)
ATM Confusion
A new study shows a significant number of consumers are still confused about the meaning of signage at ATMs. One out of four survey respondents believed that the lack of a match between at least one brand on their card and on the ATM means that their card would not work, and 20% believed that if a match did exist, no fees would be charged.
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(2/6/03)
Credit Scores
About one out of three Americans have purchased some kind of a credit score within the past six months. Three years ago it was taboo in the credit industry for consumers to have access to their credit scores. Lenders were concerned that consumers would become credit score savvy and begin to game the system.
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(2/5/03)
NCPW Week
This week is "National Consumer Protection Week" and this year it carries the theme: "Information Security: Putting the Pieces Together." The Federal Trade Commission, AARP, the Better Business Bureau, ... are sponsoring the effort for 2003.
-READ MORE
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(2/4/03)
Concorde Sale
If you're a real swinger, you can hop on the Concorde with a friend, as many times as you like this year, and travel for half-price! The Diners Club Carte Blanche Card has lifted its annual limit on complimentary tickets on British Airways, which includes the Concorde.
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(2/3/03)
smartOne Cards
Another U.S. issuer has jumped on the smart card bandwagon with the introduction of the "smartOne Platinum Edition VISA" card. Like other smart card programs, First National Bank of Omaha is offering applicants a free smart card reader with its new card. The "smartOne" program includes "smart Access" and "VISA smart Space."
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