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CARDNEWS FOR CONSUMERS
(09/29/04) Diners MasterCard It's official - Diners Club cards in the USA and Canada will become MasterCards over the next several months. The redesigned cards will be issued in a phased approach, beginning with corporate and personal "Diners Club" cards across Canada in November. -(READ MORE)
(09/28/04) ShoeWallet As credit card issuers physically downsize payment cards to fit on keychains, a Seattle-based firm has inked a deal to distribute a patented shoe wallet designed to carry payment cards. Shoewallet.com initially developed the product to address the need for joggers to carry ID and/or medical information. -(READ MORE)	(09/27/04) Disney Auction If you've got the "Disney VISA," then you're a playa in the "Disney Dream Auction" which starts today. More than 25 once-in-a-lifetime Disney items and experiences are available for bidding with the proceeds benefiting three charities. -(READ MORE)
(09/24/04) Custom Card While many card issuers offer an endless choice of credit card designs and perhaps a few options on card features, one issuer is offering a truly customized card. The recently introduced "One of a Card VISA" enables users to personalize the entire face of the card with just about any kind of a photo, plus cardholders get to choose their rates and rewards. -(READ MORE)	(09/23/04) SCORES? A new survey has found that the majority of consumers do not understand what credit scores measure, what good and bad scores are, and how scores can be improved. Only about one-third of consumers correctly understand that credit scores indicate the risk of not repaying a loan, not factors like financial resources to pay back loans or knowledge of consumer credit. -(READ MORE)
(09/22/04) Penalty Pain The three consecutive rate hikes by the Fed are like pouring lemon juice on a paper cut for consumers tangled up in penalty interest rates. Starting next month, punitive interest rates, among the top ten issuers, will range from 24.65% to 30.74%. -(READ MORE)	(09/21/04) Three Hikes The Fed increased short-term interest rates by 25 basis points which will push the prime rate to 4.75% this week, and raise variable credit cards accordingly. Due to the timing of the rate increase, all of the nation's top ten issuers will pass along the latest increase within the next 30 days on their variable rate cards. -(READ MORE)
(09/20/04) Bad Apples The Office of the Comptroller of the Currency has issued an advisory to national banks citing concerns over unacceptable credit card practices by some issuers. The regulator specifically listed as problem areas, inadequate disclosure of penalty pricing policies, promotion of unrealistic "up to" credit limits, and, insufficient disclosure of the limitations of promotional rates. -(READ MORE)	(09/17/04) PremierPass MasterCard Citibank has launched two new rewards credit cards offering points for miles flown on any airline as well as points for all purchases. The new "Citi PremierPass MasterCard" also enables cardholders to earn points for the purchase, plus the miles flown, on tickets purchased for family or friends. -(READ MORE)
(09/16/04) Hello Kitty Card One of the coolest prepaid cards to come down the pike this year is the "Hello Kitty Debit MasterCard." The new card offers a free one-year subscription to Elle Girl magazine. -(READ MORE)	(09/15/04) Debt Acceleration After five consecutive months of debt cutting, Americans have started piling on revolving credit at a pretty good clip. During July, consumers added $5.6 billion to revolving credit, mostly credit card debt, compared to less than $1.0 billion one-year ago. -(READ MORE)
(09/14/04) NFL Fans Do you have a special or "quirky" way that you get pumped for an NFL game? If so, VISA wants to possibly feature it in a TV ad or better yet, help you win a free pass to the "Super Bowl." VISA's new "Get Ready for the Game" promotion is offering ten trips to the "Super Bowl" and sixteen $500 gift cards as prizes. -(READ MORE)	(09/13/04) Ignorant Cardholders More than one out of four U.S. cardholders have no clue where to file a formal credit card complaint against a national bank. Nearly half of Americans believe such disputes are handled by the Federal Trade Commission while a mere 16% correctly say its the Office of the Comptroller of the Currency. -(READ MORE)
(09/10/04) Nine Online CardWeb.com, Inc.(R) will celebrate its ninth year online this weekend, tracking the payment card industry on a daily basis since 1986. In September 1995, RAM Research launched CardWeb.com in conjunction with the American Bankers Association's "Bank Card Conference" at the New York City Hilton. -(READ MORE)	(09/09/04) Freebie Cards While the annual fee for a co-branded airline bank credit card averages $51 plus change, two airlines are currently promoting cards with or without a fee. Midwest Airlines and Frontier Airlines now offer a no annual fee version of their MasterCards, however, the miles earning feature has been cut in half. -(READ MORE)
(09/08/04) ATA VISA After 31 years, the nation's 10th largest passenger airline is taking off with a co-branded bank credit card. Discount carrier ATA Airlines has linked up with U.S. Bank to launch the "ATA Platinum VISA" card and the "ATA Business VISA" card. Cardholders earn one point for every $3 in purchases without any cap. -(READ MORE)	(09/07/04) T&E Card American Express has redefined the T&E card as the "Traveling & Eating" card or the "True Earnings" card. AmEx and Costco teamed up to launch a new set of co-branded credit cards that offer bonus rewards for eating out and traveling. -(READ MORE)
(09/03/04) Cards by State The average general purpose credit card outstandings per household, excluding store/gas credit cards, grew a mere 2.5% last year to $6,429. Among the five most populous states, Texas was the only one to come in below the national average. -(READ MORE)	(09/02/04) New mbna The nation's third largest bank credit card issuer is getting ready to create a new corporate image. MBNA is replacing its all-caps logo with lower-case letters, plus adding a splash of color. -(READ MORE)