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CARDNEWS FOR CONSUMERS
(6/30/03) Card Delinquency Based on total dollars past-due, credit card delinquency is holding steady compared to year-ago levels and has declined since the end of 2002. However, based on the number of accounts past-due, delinquency is up from 3.88% one year ago to 4.07%. -(READ MORE)	(6/27/03) Pocket Change Card Those mean green coin counting machines in supermarkets nationwide may soon provide access to a prepaid MasterCard. A pilot has been launched in Houston and Las Vegas whereby consumers deposit coins or cash to a Coinstar machine, receive a printed receipt for the transaction, which includes an account activation number, and then contacts the card provider to activate their MasterCard. -(READ MORE)
(6/26/03) Uncarded Americans All of the elements of a "cash-less society" are in place except for people. At least 50 million adults in the USA do not possess a credit card and nearly 10 million U.S. households do not have a bank account. -(READ MORE)	(6/24/03) Zero Offers With today's anticipated interest rate cut, some credit card issuers are already extending their rates beyond a full year. This month, Fleet Bank has unleashed a "Platinum VISA" with a 0% APR on purchases through September 2004. -(READ MORE)
(6/23/03) Rate Cut There is a growing consensus that the Federal Reserve will cut interest rates this week even though the federal funds rate is already sitting at a 45-year low. Unfortunately, the impact of a prime rate cut on credit card interest rates will be minimal. -(READ MORE)	(6/20/03) Hulk MasterCard Universal and Chase are pumping up a new rewards MasterCard in conjunction with today's movie release of "The Hulk." The collectible "Universal Entertainment MasterCard Hulk Limited Edition from Chase" is made of signature green plastic and will be available through next June to new cardholders, as well as existing cardholders of the "Universal Entertainment MasterCard from Chase." -(READ MORE)
(6/19/03) Reward Penalties It's bad enough getting hit with a fee, and possibly a higher interest rate, for making a late payment on your credit card, but many card issuers may also take your points or air miles and hold them hostage, or worse, cancel them. Diners Club is the latest card issuer to make its "Club Rewards" points subject to forfeiture for missing the payment deadline. -(READ MORE)	(6/18/03) Fee Escalation After a brief pause at the $35 level, late payment fees and over-limit fees have resumed their climb upward. The nation's second largest issuer is now assessing cardholders, with balances over $1,001, a $39 late fee and a $39 over-limit fee. MBNA is also notifying cardholders this month it is raising its minimum and maximum transaction fee for credit card access checks. -(READ MORE)
(6/17/03) Vegas VISA Sin City now has its own bank credit card, complete with a rewards program. The new "VEGAS.COM Platinum Plus Reward VISA" offers cardholders the opportunity to earn a round of golf at the Bali Hai Golf Club, a dinner buffet at the Bellagio, seats for Siegfried & Roy, or front-of-the-line admission to the Coyote Ugly Club. -(READ MORE)	(6/16/03) VW VISA Volkswagen is heading into a higher gear this summer after landing another issuer for its bank credit card program. The soon-to-be-released "Volkswagen Platinum VISA Card with Rewards" is a product of a relationship between Volkswagen of America and Bank One. The VW card was previously issued by MBNA. -(READ MORE)
(6/13/03) ATM Fees Fees for using an ATM that does not belong to your bank leveled-off last year to an average of $1.36 per transaction. However, it will become easier to find a surcharge-free ATM in the near future. -(READ MORE)	(6/12/03) April Showers The abundant rain across much of country this spring may have dampened consumer credit card spending. During April, Americans added $1.4 billion in revolving credit, mostly credit cards, compared to $2.6 billion one year ago. -(READ MORE)
(6/11/03) Card Transactions 03 Each day in the USA, more than 52 million purchase transactions on credit and debit cards pass through the VISA and MasterCard networks. In the first three months of this year, Americans made nearly 4.7 billion purchase transactions, a 12% increase over the same period one year ago. -(READ MORE)	(6/10/03) Free Laptop If you have excellent credit, a VISA card is now available that offers a free HP "Evo" laptop computer for making a minimum $5,000 balance transfer. The new "Universal Savings Bank Platinum VISA" also offers a competitive 10.99% variable interest rate on purchases as well as cash advances, and carries no annual fee. -(READ MORE)
(6/9/03) Q1 Market Share Spending on credit and debit cards increased 9.7% to $477.1 billion in the first three months of this year, compared to one year ago. Among the four major U.S. payment card networks, only MasterCard's market share, based on total transaction dollars, increased. -(READ MORE)	(6/6/03) The Machine Thirty years ago Americans were very wary of a new-fangled gizmo that replaced the bank teller. Today, the ATM has become an integral part of everyday life, as users line-up to use "the machine." A new consumer study shows that 78% rated the convenience of using an ATM machine for banking transactions as an important part of their everyday life. -(READ MORE)
(6/5/03) Bankruptcy Boomerang Over the past seven years, approximately 9.5 million Americans have filed for personal bankruptcy, and next year about one million of these consumers will be eligible to file again. Under the current bankruptcy code, consumers can file a Chapter 7 bankruptcy every seven years. -(READ MORE)	(6/4/03) Card Mail Americans are getting burned out on credit card solicitations as only one out of 200 pieces of card mail produces a credit card application. Meanwhile, the total number of credit card mailers sent out last year declined after many issuers abandoned the sub-prime market. -(READ MORE)
(6/3/03) Do-Not-Call The Federal Trade Commission announced that telephone registration for the National “Do Not Call” Registry will be accelerated, and will be available to consumers coast-to-coast during July. Online registration will be available nationwide on or around July 1. -(READ MORE)	(6/2/03) Exchange Fees Nearly 45% of consumers believe that credit cards offer the best exchange rate when making purchases in another country. Three out of ten consumers disagree, and one fourth of consumers simply don't know. -(READ MORE)