CARDNEWS FOR CONSUMERS
(4/30/04) Diners MasterCard
Diners Club is about to join the "Power Club" as it migrates to the MasterCard network by the end of this year. The expanded acceptance of the world's first charge card will empower Diners cards to take on American Express and siphon off some spending now captured on VISA and Discover cards.
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(4/29/04) Cubby Card
Baseball, purchase points, debit cards, and a chance to throw out the first pitch have converged as Ohio-based Charter One Financial launches a "Gold Debit MasterCard" for the Chicago Cubs. Cardholders earn points redeemable for free gifts including cruise accommodations, airfare, gift cards, and more for making signature debit transactions.
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(4/28/04) Gymboree VISA
The first co-branded credit card offered by a children's apparel retailer has hit the market. The "Gymboree VISA Platinum Card" enables customers to receive a five percent discount on merchandise purchased at domestic Gymboree retail locations and online.
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(4/27/04) Gravy Train
The profit wagon is running full steam as the nation's "Big 3" credit card issuers racked up a stunning 27% gain in profits during the first three months of this year. Collectively, Citigroup, MBNA, and Bank One raked in more than $1.6 billion in card profits for the first quarter.
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(4/26/04) Gift Card Power
Retailer-issued gift cards are delivering solid results as Starbucks reports that its gift cards made up more than 11% of total sales in the first three months of this year. Also, Shell Oil recently noted that its gift card program delivered about $60 million in new sales to the company last year.
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(4/22/04) Instant Card Fun
The next time you visit Universal Studios theme parks in Hollywood or Florida you'll have a chance to pick up a rewards MasterCard on the spot. Chase and Universal Studios have launched an instant issuance program, wherein consumers are granted instant access to their credit line via a ready-to-use, general purpose "Universal Entertainment MasterCard from Chase."
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(4/20/04) Merrill+ VISA
Finally there is a credit card that might impress the maitre d'. The new, black "Merrill+ VISA" offers a credit limit up to $250,000, free nights at The Ritz-Carlton, and free upgrades on international tickets with British Airways.
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(4/16/04) Feel Good Cards
An affinity debit card program has been launched that enables consumers to earn rewards for a range of charities simply by signing for their purchases instead of using a PIN. The new "Make-A-Difference Debit MasterCard," issued by Ohio-based Charter One, links cardholders with eight charities.
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(4/15/04) Home Rebate Card
Citigroup has introduced a new consumer credit card to the general public that links a rebate feature to the cardholder's mortgage, regardless of the provider. The "Citi Home Rebate Platinum Select MasterCard" offers a full 1% rebate on all purchases, with no annual or lifetime cap.
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(4/14/04) Tax Fees
A new survey shows that while 63% of American adults are aware that the IRS now accepts credit cards, only 1% plan to use a credit card to pay incremental Federal income taxes the next time they owe because of the convenience fees associated with the transaction. The study reveals that if the service were free, 34% of taxpayers would use it.
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(4/13/04) Snob Card
The private jet set now has a by-invitation-only "White VISA" credit card that carries a $1,500 annual fee. Stratus Rewards and U.S. Bank have teamed to launch the new card which rewards users with points that can be redeemed for private jet travel or life-inspiring experiences.
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(4/12/04) FlyLady FACE
FlyLadies across the USA paid-off more than $12 million in credit card debt last month, nearly six times the projected amount. Transylvania County, North Carolina-based FlyLady, a time management firm helping people get rid of the chaos in their homes and lives, encouraged its 224,000 worldwide members to pay an extra $15 over and above the minimum payment on their credit card accounts during March.
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(4/8/04) Gift Card Fees
There is a big difference between store-issued gift cards and bank-issued gift cards that is not apparent to most consumers and possibly, some state regulators. While the majority of store-issued gift cards are devoid of fees, they do not carry all the rights and protection afforded to credit cards or offer the global acceptance of bank-issued gift cards.
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(4/7/04) Audi Card
The pioneer of the quattro all-wheel drive system is teaming up with the nation's sixth-largest bank holding company to launch a co-branded, high-end credit card next month. The new "Audi VISA Signature Card" rewards cardholders with two points for every dollar spent at participating Audi dealers and "Audi Collection" purchases, and one point for every dollar spent on all other purchases.
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(4/2/04) Card Mail
Letter carrier's have a lighter load these days thanks to a pull-back in credit card marketing. Direct mail credit card offers declined 12% last year to 4.3 billion after peaking at 5.0 billion two years ago.
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(4/1/04) Trump Card
Master brander Donald Trump can really blow his horn as he now has a credit card he can call his own. Trump and Bank One have partnered to launch the "Trump Rewards VISA" offering a 1% rebate on all purchases, and a 2% rebate on purchases at Trump casinos.
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