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Articles for Credit Cards

  • More Consumers Prefer Debit Cards

    As financial pressure on consumers continues to mount due to credit card debt and other worries, many have opted to rely more on their debit accounts to make purchases.

  • Credit card lenders decrease lobbying efforts

    The wholesale regulatory changes that are likely to fundamentally alter the credit card landscape in the near future have led three of the four largest card issuers in the country to scale back lobbying efforts.

  • Students still targeted for credit card accounts

    Despite increased protections for young adults from predatory lending practices, many financial institutions are still finding a way to send college students offers for new credit card accounts.

  • Visa beefs up security against fraud

    For most consumers, the idea of a stranger gaining access to their credit card is troubling, but now Visa says its latest fraud prevention system will help the company better mitigate the risk of such an incident.

  • Gift card rules will change soon

    Companies that sell gift cards will have to become compliant with new federal regulations on or before January 31 by listing some basic facts about the products.

  • Retailers upset with new Fed credit card rule

    A number of major corporations are lobbying the Federal Reserve Board over a proposed rule that would require lenders to consider a borrower's independent income, rather than that of their household, before granting a line of credit.

  • Credit card lenders expected to boost incentives in 2011

    Many consumers may have noticed an increase in the number of preapproved credit card promotions in their mailboxes lately, and that's no coincidence. Lenders have increased the number of offers they send out, and with them, boosted rewards programs.

  • Chase lent billions to small businesses this year

    Even as consumers went out of their way to avoid using their credit cards in recent months, this was not the case with small businesses. As a result, Chase lent billions of dollars in credit to thousands of small businesses in 2010.

  • More credit card incentives expected for 2011

    As the economy continues to improve, many lenders are trying to draw wary consumers back into the borrowing world, and will likely increase these accounts' initial incentives to do so.

  • New Jersey sees large jump in credit card suits

    Many consumers have had difficulty paying their monthly credit card bills recently, and in New Jersey in particular, many companies are now taking them to court over their delinquent and defaulted balances.

  • Microchip card for overseas purchases introduced

    Many consumers who travel to Europe might have experienced some difficulties when attempting to make a purchase on their credit card because most major nations use a different standard card technology. However, one company will soon be able to offer travelers a solution.

  • Visa launches smartphone discount app

    In an attempt to cut into the success of online discount sites that give consumers bargains based on the number of people who sign up, the world's largest credit network recently launched its own smartphone application.

  • Credit card charge offs fell in October

    The nation's major credit card lenders saw yet another drop in the number of accounts they had to write off as being irretrievable in October, continuing a recent trend of better fiscal responsibility from consumers.

  • Many optimistic about paying down credit card debt in 2011

    Largely as a result of the continuing economic recovery, many consumers are more optimistic about their economic futures, and say that their renewed ability to handle their money problems will allow them to reduce their credit card debt in the next year.

  • Most Americans expect housing market to recover after 2012

    The housing market has been in bad shape for a while, and has remained that way even as the economy continues to make solid strides towards recovery. As a result, the vast majority of consumers don't believe the industry will be fully back on its feet until at least 2012.

  • AmEx sees bigger profits on borrowing, fewer defaults

    Many of the nation's major credit card lenders have reported higher profits in recent months thanks to consumers improved financial habits and reductions in both delinquency and default rates. But unlike most of its competitors, American Express saw increased spending activity on its accounts.

  • Discover Bank faces lawsuit over alleged consumer deception

    Many consumer advocacy groups have recently been complaining about practices by Discover Bank and an associated business that may have duped customers into enrolling in payment protection programs. Now, the attorney general for Minnesota has brought a lawsuit against the lender.

  • Fewer consumers used credit cards on Black Friday

    Many polls have found that most consumers will avoid using their credit cards to complete their holiday shopping this year, and the statistics from Black Friday's purchases provide evidence of this trend.

  • Credit card issuers worry over uncertain economy

    In the past few months following the end of the national recession, many consumers have changed their attitudes toward credit cards, and are leaning on them far less. As a result, many lenders are unsure of the economy's future.

  • Chase rolls out holiday rewards program

    Many companies offer holiday deals designed to entice consumers into using their products, and the largest credit card lender in the U.S. recently announced its annual promotions as well.

  • Which Type of Credit Card is Right for You?

    Current studies show that more than 43 million consumers are unbankable - preferring to avoid traditional banking services like checking, debit and credit cards and choosing to rely solely on cash or prepaid cards. Based on this trend, more banks are now tapping into the prepaid card market in an effort to reach this growing demographic.

  • Credit card lenders paid colleges $83.5 million

    Many colleges and universities, as well as their alumni associations and related organizations, are now entering into agreements with credit card lenders, which paid the groups a combined $83.5 million last year.

  • Credit card debt keeps seniors from retiring

    As the national recession caused more people to lose their jobs, many senior citizens began relying on their credit cards to make ends meet. As a result, they saw their debt skyrocket and were forced to defer their retirement plans to pay for it.

  • Republicans may repeal credit card protections, Obama warns

    While Congress has passed a number of reforms, including those for the credit card industry, in the last two years, President Barack Obama is now warning consumers that those laws may be repealed if Republicans regain control of Congress.

  • Citi agrees to sell credit card debt to General Electric

    CitiGroup has decided to rid itself of a large percentage of the debt and companies it controls in an attempt to position itself for future growth. As part of that effort, it sold more than a billion dollars worth of its credit card debt to General Electric.

  • Use credit score to decide what cards is best

    Many lenders are once again starting to increase the amount of marketing materials they send to consumers in the hopes of persuading them to get a credit card. As a result, Americans should figure out which accounts would work best for them.

  • American Express vows to fight government suit

    Even as Visa and MasterCard bowed to pressure from the federal government and settled antitrust lawsuits, American Express said it would go to court for years to fight the case if necessary.

  • Credit cards still a problem for college students

    Even after provisions of the Credit Card Accountability, Responsibility and Disclosure Act put tighter restrictions on the way credit card companies could market to people under the age of 21, many college students are still struggling with debt.

  • Program allows consumers to budget with credit card debt

    Many consumers may have determined that they spend too much on their credit cards on things they don't necessarily need, and have been looking for a way to pare back spending as a consequence. Now there's a new program that might be able to help them.

  • Surf Smart, Surf Clean

    Even the simplest of web activities can give your computer a virus, malware, or a Trojan horse. So it's important to take preventive steps in your Internet routine to keep your computer system running fast and clean.

  • Gaming company Valve adds new payment feature

    When users of Valve's popular Steam game downloading service wanted to get the latest sequel to Call of Duty or Half-Life, they had to get their credit card ready. But thanks to a new payment service, they have more options.

  • More consumers taken to court over credit card debt

    While more consumers have been paying off their credit card debt with greater consistency in the last few months, lenders have also been stepping up the number of lawsuits they bring against those who don't.

  • Fed rewards card study gets revision

    A few months ago, the Federal Reserve Bank of Boston released the findings of its study of credit cards rewards programs, analyzing how they affect consumers with different economic backgrounds. But the bank recently revised its figures after finding some inconsistencies.

  • Student IDs can save serious cash

    Student loan debt is crippling graduates across the country which means it's not more important than ever to watch your tuition costs and college spending. Farnoosh Torabi shares 8 easy ways to save a little extra cash with your student ID.

  • Thanks to you, Facebook, our awareness around privacy has grown considerably.

    Facebook has taken a lot of heat over the last year for it's privacy practices but even with the privacy issues, they've done one thing right. Thanks to Facebook, our awareness around privacy has grown considerably and the side effect is giving many of us pause to exactly how willing we are to reveal information about ourselves through social sites.

  • How one man lost his job and found his vocation

    As we wade through the dregs of a recession, there seems to be no end to the number of horror stories of the down and out. But there are a few stories that give a glimmer of hope to those of us looking for a silver lining. This is a story about one man's journey from unemployment to business owner by doing something he loved.

  • New York opens investigation into college credit card offers

    Some provisions of the Credit Card Accountability, Responsibility and Disclosure Act were designed specifically to protect consumers under the age of 21 from lenders' predatory practices. Now a new investigation will look into whether issuers are following those provisions.

  • Secured and prepaid cards good option after bankruptcy

    As a result of the subprime mortgage crisis and subsequent recession, an unprecedented number of Americans have sought financial protection by filing bankruptcy. Studies show that most bankruptcies are the result of medical emergencies, divorce proceedings and other life events that individuals have very little over. Regardless of the reason, obtaining credit after bankruptcy can be difficult.

  • Average credit card balances drop to eight-year low

    The latest figures to be released by one of the three major national credit bureaus reveals that the average amount of debt consumers carry on their credit cards has declined to the lowest level observed in over eight years.

  • Credit card rates rise to highest level in nine years

    Although the new provisions imposed by the Credit Card Accountability, Responsibility and Disclosure Act on August 22 may protect credit card carriers from abusive lending practices, issuers are finding other ways to profit. New data reveals that lenders have responded to the new limitations set forth by the CARD Act by raising credit card rates to the highest level seen in nearly nine years, according to Dow Jones Newswires.

  • More Americans focus on frequent-flier rewards

    Shopping around for a credit card can be a tedious process when faced with a variety of rewards, fees, introductory and annual percentage rates. But trends reveal that most Americans focus on rewards, namely frequent-flier miles, when making their decision.

  • Swipe fee regulations could cost banks billions

    The amount credit card issuers can charge businesses for processing debit card transactions is going to drop at some point in the near future, and the change will cost lenders billions of dollars per year.

  • Delinquency drops expected to continue

    Consumers had a better time paying their credit card bills in the second quarter of the year, and experts say that this trend is likely to continue into the future.

  • Consumers are more satisfied with their credit cards

    The provisions of the Credit Card Accountability, Responsibility and Disclosure Act might be working as intended, because consumers said they were more satisfied with their credit cards for the first time in a number of years.

  • Companies offering new cards for consumers with bad credit

    Because the recession has taken such a toll on credit cardholders - and as a result, their lenders as well - it has become increasingly difficult for consumers with bad ratings to obtain a line of credit. But with this in mind, more lenders are beginning to tailor cards specifically for consumers with this trouble.

  • Prepaid cards aimed toward subprime borrowers

    A recent trend shows that the prepaid credit card market is focusing more of its attention on customers with poor or bad credit ratings. As more consumers who have been unable to secure employment or meet their financial obligations see their credit scores decline, the prepaid industry provides an alternative that allows them to better manage their spending.

  • Certain 'starter' cards may help young adults boost credit

    The new provisions set forth by the Credit Card Accountability, Responsibility and Disclosure Act are aimed at protecting young adults from predatory lending practices by requiring those under the age of 21 to either prove they have sufficient income to maintain an account or provide the consent of a co-signer. But the laws may also make it more difficult for them to build their credit score without the presence of a co-signer.

  • FICO report shows Americans' credit scores drop to new lows

    New data released by FICO reveals that consumer credit scores have dropped to a new low --with more than 35% of consumers scoring below 650. Not only has the recession given Americans pause to worry about their financial situations, they also have the added burden of managing the damage to their credit scores.

  • Prepaid credit cards rise in popularity, report shows

    A recent market research report published by Auriemma Consulting group shows that Visa and MasterCard prepaid cards are rapidly becoming the most popular form of prepaid credit cards on the market. As many consumers continue to battle debt, prepaid credit cards are becoming a more viable alternative to traditional credit cards.

  • How to Get Credit if You're 20-Something

    Establishing credit for the first time can be challenging. That's why Credit.com details five easy-to-understand steps for opening a new credit card and building a new credit profile from scratch.

  • Credit score monitoring more important than ever

    The recent economic downturn may have caused many consumes to fall behind in respect to their finances, but with recent reports showing promise of recovery and increased lending expectations, keeping close tabs on your credit scores is more important than ever.

  • Credit card use among account holders varies based on purchases

    A recent study shows that while credit card usage is still frequent and quite common, it's not the primary mode of payment. Considering the difficulties experienced in the economic downturn, more consumers are choosing to to pay with debit cards or cash before racking up debt on their credit cards.

  • Prepaid Cards Continue to Grow in Popularity

    More and more consumers struggling with debt are choosing cash, debit cards and even prepaid cards over traditional credit cards. Prepaid cards not only give the added convenience of a credit card, they also keep consumers in check with their spending habits by only allowing them to spend up to the amount they've prepaid on the card.

  • The pitfalls of bad credit

    Having bad credit can make you feel like a second-class citizen. And not only will it cost you more for just about everything in your financial life, it can also make even the simplest of financial transactions an inconvenient, time-consuming process.

  • How Bad Is Bad Credit?

    A common misconception when it comes to credit is that all bad credit is equally bad. The truth is that all bad credit is not created equal and depending on your situation, there are steps you can take to improve your credit no matter how bad it is.

  • Which Type of Credit Card is Right for You?

    With so many different types of credit cards on the market today, it's no wonder that choosing the right card can seem a little daunting. Credit.com takes the guesswork out of choosing a card by breaking down the different options and sharing the pros and cons for each card type.

  • How Secured Cards Help You Build Credit

    With so many different types of credit cards on the market today, it's no wonder that choosing the right card can seem a little daunting. Credit.com takes the guesswork out of choosing a card by breaking down the different options and sharing the pros and cons for each card type.

  • More 'underbanked' Americans utilize prepaid credit cards

    Current studies show that more than 43 million consumers are unbankable - preferring to avoid traditional banking services like checking, debit and credit cards and choosing to rely solely on cash or prepaid cards. Based on this trend, more banks are now tapping into the prepaid card market in an effort to reach this growing demographic.