CARDNEWS FOR CONSUMERS
(7/31/03) Fiscal Education
It appears that America's student learn about "dollars & cents" the same way they learn about the "birds & bees." While the overwhelming majority say they have learned on their own, more than half of collegians, and 43% of high school students, claim to have learned something about money management through talking with friends.
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(7/29/03) Phone Registry
The number of telephone number registrations in the new "National Do Not Call Registry" may have reached the halfway mark. At the start of this week, the Federal Trade Commission reported that a total of 28.7 million telephone numbers have been registered in the "Registry" since its launch on June 27th.
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(7/28/03) Debit Rebates
More than 8.1 million notices to merchants have been mailed this month in regard to the settlement of the debit card antitrust lawsuit against VISA U.S.A. and MasterCard International. Merchants who accepted VISA and MasterCard debit and credit card transactions between October 25, 1992 and July 31, 2003, are eligible to get a piece of the $3 billion settlement.
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(7/25/03) Feel-Good Cards
A new concept has emerged to enable U.S. consumers to earn rebates on credit card purchases that are automatically directed to the charity of their choice. The new "purpose driven purchasing" program has been developed by Connecticut-based Tricordia.
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(7/24/03) Card Surcharges
While credit card dollar volume in Australia continues to grow, it has slowed significantly since the adoption of credit card reforms this year, which permits Australian merchants to surcharge customers for credit card transactions.
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(7/23/03) AOL Buxx
Bank One and America Online have teamed to introduce the "AOL Cash Card" this summer in conjunction with the upcoming launch of "AOL 9.0 Optimized." The new card is part of the "VISA Buxx" program, providing a parent-controlled, re-loadable payment card for teens and young adults.
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(7/22/03) Reward Zone Card
Best Buy, one of the nation's top retailers of electronic gizmos and entertainment stuff, says it is after "customer centricity" with the launch this month of its new loyalty card. The new "Reward Zone" card rewards members with 100 points for every dollar they spend at its 550 retail stores in the USA.
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(7/21/03) Chase PerfectCard
Chase has introduced the "PerfectCard VISA and MasterCard" offering bonus rebates on all gasoline purchases as well as a rebate for all card purchases. Originally introduced in January as the "Chase Freedom Card" in response to the loss of its Shell co-branded credit card to Citibank, the new card offers a 6% rebate on all gasoline purchases for the first 90 days.
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(7/18/03) Card Fees 2003
U.S. credit card issuers are expected to generate $39.6 billion in fee income this year, a 6.5% increase over last year. Penalty fee income is expected to reach $10.7 billion, while the largest category of fee income, interchange income, will hit $19.8 billion.
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(7/17/03) ExpressPay
American Express is going contactless with a new way to make everyday purchases. The giant credit card issuer has been testing its "ExpressPay" key chain attachment that uses radio frequency technology, for the past year. Users simply hold the "ExpressPay" key fob next to a companion reader at checkout to make purchases.
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(7/15/03) Real Rewards
A new VISA card has been launched that rewards cardholders for carrying a balance, paying on-time, and enables its customers to use points to lower their interest rate. The new "Providian Real Rewards VISA" also offers a free personal online spending profile that shows the cardholder's "FICO" score.
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(7/14/03) Sweet Spots
The nation's two largest airlines, with the largest co-branded frequent flyer credit card programs, are trying to woo business and elite level travelers back into the sky. Tomorrow, United Airlines will permit its "1K Flyers" to upgrade any fare, worldwide, on United's system through February 29, 2004.
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(7/11/03) Fixed Card
The lowest on-going fixed interest rate for a bank credit card was launched this week. Capital One, which usually caters to sub-prime borrowers, offering credit limits as low as $300, is now offering a 4.99% fixed APR on its "Platinum MasterCard" to super-prime consumers, by invitation only.
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(7/10/03) May Card Debt
Consumer revolving credit growth continues to slow due to the apparent siphoning-off of credit card debt to home mortgage and equity loans. During May, Americans added $3.1 billion in revolving credit, mostly credit cards, compared to $3.3 billion one year ago.
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(7/9/03) Tuition Card Fees
The days of racking up free air miles and other points for using a credit card to charge college tuition may be limited. Colorado State University is now requiring students to pay a 2.9% convenience fee for using credit cards to pay tuition.
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(7/8/03) Do-Not-Call Registry
The number of telephone number registrations in the new "National Do Not Call Registry" has reached 19.8 million. Nine out of ten of the phones numbers registered were processed online.
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(7/3/03) Weekend Matters
Time is running out on a summer promotion to pick up some easy cash and the chance to win $40,000. MasterCard's "Weekend Matters Sweepstakes" is offering you $20 just for getting three of your friends or family members to enter to contest.
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(7/1/03) Do Not Call Registry
More than 13.6 million telephone numbers were registered over the weekend as part of the new "Do Not Call Registry." The Federal Trade Commission reported that on Friday, seven million telephone numbers were logged into the system; Saturday the number slowed to 4.6 million; and Sunday the number was two million. The "National Do Not Call Registry" was launched the morning of June 27th.
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