This past week brought some good news, some bad news and some interesting news. The good news is that credit card delinquency rates are down. Actually, I think that qualifies as fantastic news! The bad news involves skimming at gas pumps and an unintended negative consequence of the Credit CARD Act of 2009.
The interesting news is that there are three new travel credit cards on the market. Let’s start with that.
This is an interesting take on three new consumer credit cards: The Bank Of America Travel Rewards card, the BankAmericard Privileges credit card with Travel Rewards, and the Fairmont Visa Signature Card from JPMorgan Chase. The reporter notes that these new cards have some good features, though none are terribly comprehensive. If you like travel cards, read this and see what you think about the new kids on the block. @ChicagoTribune
I’m a faithful reader of the New York Times Bucks Blog because it always has some thoughtful analysis of personal finance topics. Last week in my news roundup I included the Bankrate study that looked at prepaid cards. Here, Ann Carns does a good job explaining why you should read all the fine print before getting a prepaid card. @NYTimes
Gas prices are going down and that’s cause for celebration. But the bad news is that you still need to be careful when you pay at the pump. Thieves use skimmers to steal your information from your bank card. Consumers aren’t the only ones who can lose money. A CBS news correspondent says that skimming costs the financial industry more than $350,000 a day. @sharylattkisson @CBSNews
It’s good to hear that the national credit card delinquency rate (the rate of borrowers 90 or more days past due) has dropped a little from the end of 2011 to the end of 2012. Also, the average credit card debt per borrower in the fourth quarter of 2011 decreased by $242 and is down to $4,962 per borrower. @MarketWatch @TransUnion
I think we all knew this issue would become a major problem for stay-at-home parents. When the Credit CARD Act passed in 2009, there was a clause that required card issuers to start considering individual income, not household income, when someone applies for a card. This part of the CARD Act became effective last October. This article gives a thorough and revealing look at what happens when this practice is put into place. @CNNMoney @BlakeEllis
Image: 401k, via Flickr