CARDNEWS FOR CONSUMERS
(5/30/03) Bluefish MasterCard
A true insider's credit card is being launched for consumers who want everything from an African safari to space flight in the first civilian space shuttle. The new "Bluefish Concierge MasterCard" is targeted at corporate executives, celebrities, professional athletes, and other high net-worth individuals.
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(5/29/03) Magazine Cards
Cooks, gardeners, and fixer-uppers now have a credit card they can call their own. "Taste of Home," a cooking magazine, "Birds & Blooms," a gardening publication, and "The Family Handyman," a home improvement magazine, have inked a deal to offer their combined 7.6 million subscribers an exclusive "Platinum MasterCard" for the respective magazines.
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(5/27/03) Defined Cards
American Express has launched a suite of "Defined Expense Cards" for larger corporate clients. The new cards can be set-up to expire after a company-determined period of two to 24 months, and carry a maximum spending limit, as well as monthly or per-transaction spending limits if necessary.
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(5/23) Summer Promos
As summer 2003 kicks off this holiday weekend, all the major credit card brands in the USA have created special deals for fun in the sun. Most of the incentives offered this year are targeted at boosting the travel industry which has been hit by a weak economy, terrorism fears, and SARS.
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(5/22/03) Aussie Market
Things are not so quiet "down under" as the Australian credit card market is rattled by a new credit card and embattled over merchant fees. Last week, the flamboyant chief executive of Virgin, Richard Branson, announced the launch of a new MasterCard that he says will stop the "ripping-off" of Aussies.
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(5/21/03) Frontier MasterCards
Frontier Airlines launched a suite of co-branded MasterCards offering free travel for as little as 15,000 miles. The "Frontier MasterCard" comes in two different flavors and four card designs. The no annual fee "Frontier Platinum MasterCard" enables cardholders to earn one mile for every $2 of credit card purchases.
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(5/20/03) Account Looting
Having a check returned for non-sufficient funds has been a nightmare since the "Expedited Funds Availability Act" took effective in 1987 due to "big check first" and "collected funds" policies. Now the growing popularity of re-presentment of bounced checks electronically has opened the door for more bank account looting.
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(5/19/03) Double SkyMiles
American Express is pulling out all the stops on the "Delta SkyMiles" credit card by offering cardholders the opportunity to earn double miles on everything between now and July 15. Normally, "Delta SkyMiles" credit cardholders earn two miles for purchases at stand-alone supermarkets, gas stations, drugstores, home improvement and hardware stores, the U.S. Postal Service, wireless phone bills and Delta Air Lines.
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(5/16/03) King Cash
With most banks paying less than 1% annually on a savings account, the prospects of earning 1% or more in cash from your credit card purchases looks pretty good. Cash back is returning as one of the most popular credit card features as Household, Capital One, and American Express have recently launched new cards or beefed-up existing ones with cash-back.
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(5/15/03) GM Business Card
General Motors is going after small to mid-sized businesses with a new co-branded MasterCard in partnership with Chase. Unlike the generous 5% rebate offered on its personal "GM MasterCard" offered through Household Bank, the new "GM Business Card from Chase" offers 1% on all card purchases and an additional 1% for GM parts and service purchases at authorized GM vehicle dealers.
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(5/14/03) KeyMiles
Cleveland-based KeyBank this week officially launched its new debit card which offers airmiles for signature debit transactions. The "KeyMiles" debit MasterCard offers one Continental Airlines "OnePass" mile for each $2 in signature debit purchases.
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(5/13/03) Real Rewards
Bank One has launched the first rewards program enabling cardholders an opportunity to receive free baseball tickets and merchandise. The new rewards program gives cardholders three choices when they spend $2,500 with their "Minnesota Twins VISA card...
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(5/12/03) OPEN Cash
American Express has extended its highly successful cash rebate program to business credit cards. The "Business Cash Rebate Credit Card" is being offered through its "OPEN: The Small Business Network," and offers a cash rebate of up to 2.5% on all purchases.
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(5/9/03) Biz Rewards
Fifth Third Bank has expanded its rewards program to business cards. The new "Business Travel Rewards MasterCard" enables the primary cardholder to earn up to 100,000 points annually. Business cardholders earn one point for each $1 in net purchases.
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(5/8/03) Y-ME VISA
A new credit card designed to raise money for the Y-ME National Breast Cancer Organization will be launched this weekend. The "Y-ME Platinum VISA" card will generate contributions based on the cardholder charge volume.
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(5/6/03) Debit Card Changes
Kiss debit card incentives goodbye and start remembering your PINs! In a stunning, last minute deal, VISA and MasterCard agreed to settle with retailers a lawsuit over their debit card practices.
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(5/2/03) Unlock the Magic
VISA and Disney kicked off their new partnership this week with the launch of the "Unlock the Magic" sweepstakes. More than one hundred grand prizewinners and seven of their guests will win a four-day/three-night Walt Disney World vacation, featuring an exclusive after-hours Magic Kingdom party.
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(5/1/03) Reward Options
As the popularity of earning free air travel from credit cards wanes, major credit card issuers are launching new options for rewards cards. This week, American Express introduced the "Your Reward" program and Capital One added more redemption options to its "MilesOne Rewards" card.
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