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CARDNEWS FOR CONSUMERS
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(10/31/03)
Fast-Track Cash-Back
The pioneer of the cash-back credit card is launching a major promotion this weekend, offering cardholders a chance to win one of 54,000 prizes, ranging from $5 to $1,000. Between November 1st and December 24th, Discover cardholders will automatically be entered into the "Fasttrack to Cashback" sweepstakes for making a purchase with the card, and for a chance to win an unexpected extra "Cashback Bonus."
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(10/30/03)
FREE GIFTCARD
While most gift cards issued by retailers are fee free, the general purpose gift cards issued by banks typical carry upfront fees of at least $6. This week, that all changed when Cleveland-based Charter One Bank launched a "MasterCard Gift Card" that features no upfront fees for issuing the card or for processing the order.
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(10/29/03)
AAA Birthday
Affinity credit cards have reached the silver anniversary mark. In the fall of 1978, AAA launched the first "AAA VISA' credit card, signing up 15,000 accounts in its first year. Since then, the card has grown to 3.3 million accounts with nearly $4 billion in outstanding balances.
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(10/28/03)
Donkey Card
The Democratic National Committee is launching its own affinity credit card this month with the help of Providian Financial. The new "Democratic Party Platinum VISA" card gives individuals the option of designating their earned rebates as donations to the DNC, or they can earn accelerated rewards for making a donation to the Committee.
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(10/27/03)
Office Depot VISA
The Office Depot card is being re-launched with a cash-back rewards program. Rolled-out two years ago, the "Office Depot VISA Platinum Business Card from Chase" will now offer cardholders a 2% cash rebate for all Office Depot purchases and a 1% cash rebate for all other purchases.
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(10/23/03)
Peter Pan Card
Movie-themed gift cards are invading the American market, as the "Peter Pan Gift Card" is set to launch next month in conjunction with the upcoming Christmas Day release of Universal's Peter Pan movie. Cinemark Theatres is making the limited edition gift card available from November 3rd onward.
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(10/22/03)
AARP Rewards VISA
Bank One and the AARP have jazzed-up their co-branded VISA card with a
rewards program that offers cash back or gift certificates. The new and
improved "AARP Rewards Platinum VISA" gives cardholders a full 1% back
on card purchases starting with the first dollar in purchases charged.
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(10/21/03)
Look-a-Likes
There is no better form of flattery than imitation in the payment card industry. MBNA's new "WorldPoints Platinum Plus VISA" is a knock-off of the Diners Club "Carte Blanche" card, that was revived in December 2000.
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(10/20/03)
SkyMiles Song
American Express is awarding triple "SkyMiles," and a special 1,000 mile bonus for the first in-flight purchase to "SkyMiles" consumer and business cardholders who charge tickets and make in-flight purchases on Delta's new "Song" low-fare service between now and the end of this year. The offer applies to holders of "Classic," "Gold" and "Platinum Delta SkyMiles Credit Card" users and "Delta SkyMiles Business Credit Card" holders.
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(10/17/03)
DNC Complaints
Since re-opening the "National Do Not Call Registry" one week ago, the Federal Trade Commission reports it has received more than 15,000 complaints from consumers against telemarketers. The number of registered telephone numbers has also jumped from 50 million to nearly 54 million within six days.
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(10/16/03)
Wal-Mart Card
It might be a store credit card from the world's largest retailer, but it's beginning to look a lot like a bank credit card. Wal-Mart announced this week it is beefing-up its private label credit card, offering cardholders gas rebates, cash access, and the option to choose a payment due date.
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(10/15/03)
Discover Gift Card
The gift card market is heating up in advance of the holidays as Discover becomes a player. The new "Discover Gift Card" is available only to Discover cardholders for a fee of $5.50 for each card.
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(10/14/03)
Duetto VISA
Multi- functional credit cards have finally become a reality in the USA. This weekend, a new VISA card was launched by Starbucks and Bank One that combines a re-loadable stored value card with a general purpose credit card.
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(10/10/03)
Debt Pace
Revolving debt is growing about a third of last year's rate, as Americans added $1.2 billion to total revolving debt during August. One year ago, U.S. consumers added $3.9 billion to revolving debt during the month of August.
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(10/9/03)
Registry Opens
The "National Do Not Call Registry" is finally open for business, at least temporarily. Starting today, more consumers can register phone numbers, and starting this weekend, consumers can file complaints. Telemarketers may access the registry beginning Friday, October 10 at 8:00 a.m. EDT.
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(10/7/03)
$2 Trillion
Americans are on track to charge more than $2.0 trillion on their bank credit and debit cards this year. If store and gas credit cards are included the figure could top $2.3 trillion.
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(10/6/03)
TravelFunds Card
American Express has gone from charge cards to credit cards, and is now setting its sights on the prepaid card market. The issuer has introduced a reloadable travel card. The new "TravelFunds Card" can be used at both the POS and ATM.
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(10/3/03)
eBay MasterCard
In an usual move, eBay has teamed with two banks to issue its new rewards MasterCard to as many customers as possible. MBNA will issue the new card to consumers with solid credit scores, while Providian will issue the new card to consumers with iffy credit scores.
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(10/2/03)
Hilary VISA
Lizzie McGuire, Kelly Collins, known in real life as Hilary Duff, has launched a line of "VISA Gift Cards." The teenage actress and recording artist is targeting American teenagers for the one-time use, prepaid card. The first card designed features Hilary afloat in the swimming pool.
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(10/1/03)
Do Not Call Today?
It's possible you may hear your phone ring a little less starting today, but don't hold your breath. Today was supposed to be the first day that the new, national "Do Not Call Registry" becomes enforceable, but that is not clear.
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