Credit Cards

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Changes in Credit Card Terms Have Consumers Concerned

Changes in Credit Card Terms Have Consumers Concerned

Changes in Credit Card Terms Have Consumers Concerned

The credit crunch experienced nationwide in the last few years has continued for many consumers, and has now manifested itself in fears over their inability to pay their monthly bills, as well as added worries related to new fees on their credit cards, according to the latest Consumer Reports Trouble Tracker Index. The index climbed… Read More

Credit.com Survey: 37 Percent Saw Changes to Credit Card Accounts

Credit.com Survey: 37 Percent Saw Changes to Credit Card Accounts

Credit.com Survey: 37 Percent Saw Changes to Credit Card Accounts

The Credit CARD Act of 2009 brought some much-needed protection to consumers. But along with all the good stuff, we also got a few not-so-good things. These things, also known as the dreaded “unintended consequences,” ranged from APR increases to credit card account closures. In February 2010, Credit.com did a survey to find out what changes, if any,… Read More

Fed: Credit Card Debt Rises for 1st Time Since 2008

Fed: Credit Card Debt Rises for 1st Time Since 2008

Fed: Credit Card Debt Rises for 1st Time Since 2008

After two and a half years of charging less, Americans’ credit card debt rose in December for the first time since 2008, according to new data released Monday by the Federal Reserve. Revolving debt, which mostly means credit card charges, rose by $2.3 billion in December to $800.5 billion, a 3.5% increase from the previous… Read More

Report: Credit Card Companies Won Big, Lost Big in 2010

Report: Credit Card Companies Won Big, Lost Big in 2010

Report: Credit Card Companies Won Big, Lost Big in 2010

One major credit card issuer made a whopping $9 billion more in profits in 2010 than one of its chief rivals. That’s just one of the surprises from estimates published in the latest Nilson Report, a newsletter on the card payment industry. American Express made about $2.25 billion in 2010, according to Nilson’s estimate. That… Read More

MasterCard Profits Boom on Consumer Card Use

MasterCard Profits Boom on Consumer Card Use

MasterCard Profits Boom on Consumer Card Use

While the recession may have altered the shopping habits of consumers nationwide, the number of people who were willing to deal with credit card debt increased in the final three months of 2010, according to a report from The Associated Press. As a result, MasterCard saw profits surge by 41 percent over the same period… Read More

Turn Your Phone Into a Credit Card Swiper

Turn Your Phone Into a Credit Card Swiper

Turn Your Phone Into a Credit Card Swiper

This summer, you will be able to turn your cell phone into a credit card swipe machine. Jack Dorsey, creator of Twitter, has created the Square, a tiny square-shaped (of course) doohickey that plugs into an iPhone and can read the magnetic stripe of credit and debit cards. The Square uses an app to transfer… Read More

Why You Need to Teach Kids about Credit

Why You Need to Teach Kids about Credit

Why You Need to Teach Kids about Credit

I’ve recently been getting offers for prepaid debit cards targeted at young teens. Here’s the first sentence of one I got a few days ago: “It’s not always convenient to give teens money when they need it.” No kidding! This offer was targeting my 14-year-old son, but the letter was addressed to me and it’s… Read More

Roundup: Business Cards with Cash Rewards and No Annual Fees

Roundup: Business Cards with Cash Rewards and No Annual Fees

Roundup: Business Cards with Cash Rewards and No Annual Fees

I don’t know about you, but I like my cash rewards card to come without an annual fee. It really diminishes the value of getting cash back when you have to fork over a chunk of money just to use the card for a year. So I found three cash back cards for small business… Read More

Is PayPal Doomed?

Is PayPal Doomed?

Is PayPal Doomed?

A new rule proposed by federal regulators to protect consumers may also endanger the business model of PayPal. The fight comes down to one question: Is using PayPal the same as swiping your debit card? The Federal Reserve is trying to figure out the answer. At issue is whether new caps on debit card charges,… Read More

Mobile Payments Movement Will Change Credit Card Industry

Mobile Payments Movement Will Change Credit Card Industry

Mobile Payments Movement Will Change Credit Card Industry

Many major lenders will soon begin implementing systems that allow consumers to make debit and credit card purchases by waving their smartphone over a sensor, and that will fundamentally change the entire industry, according to a report from CNN Money. While widespread use isn’t expected to be seen within a few years, the practice could… Read More

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