04/13/2012 - Consumer Watchdog Backs Down In Fight To Limit Credit Card Fees - The Consumer Financial Protection Bureau, the federal watchdog for all things that affect consumers' wallets, has proposed doing away with an amendment to existing legislation that would limit the amount of fees a credit card company can charge a consumer when applying to open an account. "It's a big deal for those consumers who end up getting one of these credit cards that charge extremely high fees up front," said Chi Chi Wu, a staff attorney at the nonprofit National Consumer Law Center, in an interview with The Huffington Post. "Basically, it reopens a loophole that the Federal Reserve had closed." - news.cnn.com
06/14/2011 - The end of credit cards is coming - You can already use your iPhone, Droid or BlackBerry to buy a hotdog at the ballgame, buy your Starbucks latté, or give a friend a few bucks by Bumping phones. But by the end of the year you may not even think twice about reaching for your phone to pay at the register instead of fumbling for your credit card. - news.cnn.com
06/14/2011 - American Express unveils prepaid debit card - Prepaid cards allow consumers to load a card with money and only spend that money. And the cards aren't attached to a bank account, so anyone can use them. In 2010, there were $65 billion worth of prepaid card transactions -- up 35% from $48 billion in 2009. - news.cnn.com
06/14/2011 - 7 best cards for bad credit - These 7 credit cards are the superheroes of the banking world, say industry experts, providing low fees and sane rates to people trying to build or repair their credit. Orchard Bank credit card. Capital One Secured MasterCard. Navy Federal 'n Rewards Secured Card. Citi Secured MasterCard. Mango Prepaid MasterCard. Capital One Cash Rewards for Newcomers. Open Sky Secured Visa Card. - news.cnn.com
06/02/2011 - Oregon House votes to let consumers cash in low-balance gift cards - The bill, which passed by a 48-12 vote, does not apply to prepaid phone cards, online retailers, or cards given to consumers for free. Under the proposed law, companies would be required to let consumers redeem a card for cash when the balance drops below $5, as long as the card has been used at least once. - news.consumerreports.org
05/21/2011 - Truth about credit cards: They're not always evil - Used carefully, plastic can be your friend. Here's how to do it correctly - Credit cards are not evil. There, I said it. But that's not how some people see them. They see credit cards as the devils that tempt them to spend more than they should. Debit cards are the angels in their wallet who keep them from piling up mountains of high-interest debt. - www.dailyfinance.com
03/21/2011 - Credit Card Debt Is Falling, But Only Because Of Defaults, Report Says - Decrease In Credit Card Debt All Down To Write-Offs, Report Says. Credit card debt fell last year only because of consumer defaults and bank write-offs, a new study argues. In 2010, U.S. credit card debt dropped to the lowest level in eight years, according to credit reporting agency TransUnion. But there is more evidence Americans may have taken on more credit card debt than they paid off. - www.dailyfinance.com
03/06/2011 - Credit Card Act: One Year Later, How's It Going? - So, now how is credit card landscape shaping up? "New fees have emerged as a way to make up revenue, including foreign transaction fees, inactivity fees and minimum finance charges," says Ken Lin, CEO of Credit Karma, which offers free credit scores. Alliance Data Systems, which issues private-label cards for retailers, started charging customers $1 per month to receive statements by mail. - www.dailyfinance.com
03/04/2011 - Top 10 Cities with the most credit card debt (MAP) - The average consumer owed more than $4,200 in credit card debt by the end of 2010, according to a report from credit reporting agency Experian. That is down a modest 4% from $4,467 in the previous year, but consumers in certain cities owed a lot more than the national average. - www.huffingtonpost.com
02/28/2011 - Credit cards from hell - Here are 9 credit cards that industry experts told CNNMoney are among the worst in America for their sky-high interest rates and ridiculous fees. - www.huffingtonpost.com
02/22/2011 - Looking For A Credit Card? It Pays To Be Rich - The A-list (excellent credit): A clean payment history and a healthy appetite for spending put these customers at the top of the credit pyramid. - www.huffingtonpost.com
02/19/2011 - How To Fix Your Credit Score. Healing a Wounded Credit Score - The simple answer is to focus on the information that is used to generate the all-powerful FICO score - the measure used most frequently by traditional lenders to determine creditworthiness. - www.huffingtonpost.com
02/14/2011 - Consumer Credit Card Debt Increased For First Time Since 2008 - In December, consumer credit card debt increased for the first time since 2008, according to the Federal Reserve, another strong indication that the American economy is in full recovery mode. December's rise in credit card debt suggests, in part, that people felt comfortable spending for the holidays. - www.huffingtonpost.com
01/14/2011 - Credit Card Fees and Your Subconscious Mind - In order to win this battle of the fees, companies are figuring out what fees consumers are mentally acknowledging and which they are subconsciously blocking. So if a company is better than its competitors at defining this difference, they are able to make their credit cards seem more user-friendly, without interrupting their flow of revenue. - www.huffingtonpost.com READ MORE: Hyperbolic Discounting. How banks make money
12/28/2010 - Hate your gift card? Swap to get one you really want - These exchanges are cropping up all over the Internet: PlasticJungle.com, Cardpool.com, CardWoo.com, GiftCards.com are just some of the options. PlasticJungle.com and Cardpool.com, for example, act as exchanges, buying your unwanted card and then giving you cash either through a check, PayPal deposit or Amazon.com gift card. You can then buy the card you want, choosing - www.cnn.com READ MORE: PlasticJungle.com, Cardpool.com GiftCards.com
12/08/2010 - Americans Plunge Deeper Into Debt - Credit Card Debt GREW By $6.5 Billion In Third Quarter of 2010: - But according to a new study, any progress we've made in that direction is being reversed. Americans accumulated $6.5 billion in credit card debt between July and September, according to the study from CardHub. - www.huffingtonpost.com
12/02/2010 - Startup Tango Card Aims To Save Billions In Lost Gift Card Value - Evidence shows that if you bought a gift card for a family member or friend, there's a strong chance you inadvertently gave a gift to the retailer or bank that issued it too. - www.huffingtonpost.com Read More: Redeem All of Gift Card, or Give Store a Present
10/27/2010 - The 5 riskiest things we do with credit cards - The potential for going deeply into debt isn't all that makes plastic hazardous to your wealth. Other, more-subtle temptations can also cause trouble. When you think about the words "danger" and "credit card," the first thing to pop into your head is probably debt. The over-your-head kind of debt that can happen when you're not paying attention to how much you're spending. - www.moneycentral.com MORE INFO: Read your statements carefully
10/21/2010 - 8 most deceptive terms used in credit card offers - We may live in a high-tech world where email rules, but credit card issuers are still sending out card offers the old-fashioned way. Let's take a look at some of the more deceptive terms you might see inside of--and even on--the envelopes you find in your mail box. - www.cardratings.com
08/23/2010 - Big Banks Spend Millions On 'Information War' To Stop Swipe Fee Reform - It's paying off: The amendment, which passed with overwhelming support in the Senate, is under threat in the House. A letter circulated by Rep. Debbie Wasserman Schultz (D-Fla.) opposing the measure has garnered 131 signatures of Democratic and Republican House members, her spokesman tells HuffPost. - www.huffingtonpost.com
08/23/2010 - New credit card restrictions take effect - New rules designed to protect credit card users from "unreasonable late payment and other penalty fees" come into force Sunday as a result of the Wall Street reform bill. - www.cnn.com
08/18/2010 - New credit card rules good news for consumers - New credit card restrictions take effect. Starting today, credit card companies in most cases can't charge more than $25 for late payments. New rules could also mean lower interest rates for consumers - www.cnn.com
08/18/2010 - Credit CARD Act Guide Part 1: Last Chance for Solo Student Credit Cards - You're only protected during the first year of a new account (with a few exceptions, such as variable rates that are tied to an index). But what about that $2,000 balance you have on the card you've had for three years? The CARD Act prohibits retroactive rate increases on existing balances. But your rate on that card can increase "significantly" on your future purchases as long as you're given 45 days' notice. - www.huffingtonpost.com Related Article: Credit CARD Act Guide Part 2: Understanding Rate, Fee, and Clarity Changes Credit CARD Act Guide Part 3: Subprime-So Long Fee Harvester Cards! Credit CARD Act Guide Part 4: The Death of Free Checking?
08/18/2010 - Think You Understand the New Credit Card Laws? Think Again - You're only protected during the first year of a new account (with a few exceptions, such as variable rates that are tied to an index). But what about that $2,000 balance you have on the card you've had for three years? The CARD Act prohibits retroactive rate increases on existing balances. But your rate on that card can increase "significantly" on your future purchases as long as you're given 45 days' notice. - www.huffingtonpost.com
07/31/2010 - The New Credit-Card Tricks. Banks Devise New Ways To Trip Up Consumers - "Card companies are figuring out how to replace old fees with new ones," "It's a race between regulators writing ever-more-complex laws and credit-card companies setting up ever-more-complex fees." - www.wsj.com
07/30/2010 - New Florida, federal consumer laws kick in on gift cards - Giving up fees even for a year was a compromise for the gift card industry. That provision was a huge moneymaker for gift-card issuers, considering more than $5 billion in gift cards went unused last year. - www.sun-sentinel.com
07/28/2010 - Credit Cards Transfer Money From Poor To Rich Households: Study - Credit cards do more than drain money from your wallet -- they may actually create an "implicit money transfer" from the poor to the rich, according to a new study from the Boston Federal Reserve. - www.huffingtonpost.com Read More: Who Gains and Who Loses from Credit Card Payments? Theory and Calibrations
06/30/2010 - High rates, more fees -- credit card traps here to stay - "One of the biggest misconceptions people have about the Card Act is that issuers can't raise interest rates anymore," said Beverly Harzog, contributing editor at CardRating.com. "But they actually can do what they want on new balances, as long as they give 45 days notice." - www.cnn.com
06/09/2010 - In jail for being in credit card debt - people are routinely being thrown in jail for failing to pay debts. In Minnesota, which has some of the most creditor-friendly laws in the country, the use of arrest warrants against debtors has jumped 60 percent over the past four years, with 845 cases in 2009, a Star Tribune analysis of state court data has found. Not every warrant results in an arrest, but in Minnesota many debtors spend up to 48 hours in cells with criminals. Consumer attorneys say such arrests are increasing in many states, including Arkansas, Arizona and Washington - www.startribune.com
06/04/2010 - High APR? Don't worry, you can still negotiate - The dangers of debt consolidation. - Credit card companies started hiking rates last summer in anticipation of tougher new rules, although the industry attributed the rate increase to the risk in lending to strapped consumers who can't pay their bills. - www.cnn.com
06/03/2010 - Credit cards you should cut up (VIDEO) - How to close down your unused credit cards without a significant hit on your credit score. - www.cnn.com
06/03/2010 - The Strangest Credit Card Ad Ever? (VIDEO) - TrashoutPro thinks we've found the strangest credit card ad ever. It's certainly a worthy candidate. Involving murder, suicide, middle fingers, nudity, and one person urinating on another, it's all about how you shouldn't lose control of your spending. - www.huffingtonpost.com
03/23/2010 - New Gift Card Rules: Fed Cracks Down On Unfair Fees And Restrictions - Under the rules, consumers must have at least five years to use the gift cards before they expire. The Fed also says service or inactivity fees can be imposed only under certain conditions. - www.huffingtonpost.com
02/20/2010 - New Credit Card Laws Go Into Effect Monday: Banks Ready 'Blitz' Of New Fees - Among its many provisions, the Credit CARD Act, as it’s called, will require credit card issuers to offer fair notice of changes in interest rates, ban universal default practices, and let consumers opt in to overdraft protection. The first phase of the CARD Act went into effect last fall; the third and final phase is slated for late August. Not to be outdone, though, banks are ensuring the burden of these new regulations don't fall on them. - www.motherjones.com
02/20/2010 - Credit-Card Fees: the New Traps - A new federal credit-card law that takes effect Monday could erase billions of dollars a year in fees and interest charges paid by consumers. But card issuers are already deploying new tactics that could prove costly for even the most cautious cardholder. - www.wsj.com
02/08/2010 - Credit Card Protester Sticks It To Banks -- With Stickers - "The credit card business is unethical," said Tuttle, 60, who told HuffPost he put 40 stickers on ATMs in Seattle last Thursday. The stickers say "Stand up to the rich bankers!" and direct ATM customers to Tuttle's website, - www.creditcardrevolt.com, where he makes the case for five basic reforms for the credit card industry, including a 15 percent interest rate cap, better disclosure of rates and fees, and clearer contracts. - www.huffingtonpost.com
01/14/2010 - Consumers score a win on credit card rules - One little-known practice that the Fed banned: Card issuers won't be allowed to set minimum interest rates. The Fed will also prevent banks from automatically enrolling consumers in over-the-limit programs that charge regular fees. The Fed will also make it more difficult for banks to exert control over interest rates based on changing indicators, such as the prime rate - www.cnn.com
01/14/2010 - Fed Shuts Down Credit Card Practices Congress Forgot To Ban - The Fed has just said no to two of those: "pick a rate" interest rates and variable rate floors. (Congress wrote the law, but it's the Fed's job to draw up the specific regulations that the credit card industry will follow when the law takes effect.) - www.huffingtonpost.com
01/14/2010 - What the New Credit Card Laws Mean to YOU - This is a guest post from Adam Jusko, founder of IndexCreditCards.com, an information and comparison site for credit cards that maintains a list of over 1200 cards. You can follow Adam on Twitter for quick credit tips and opinions. I've mentioned Index Credit Cards many times before, most notably in my post from 2006 called "The Only Credit Card Guide You'll Ever Need". - www.getrichslowly.org
01/14/2010 - Personal Finance Columnist Gets Hit With 703.8% Rate On Credit Card - Department Stores National Bank, which issues the card, charges a "minimum interest charge." On my average daily balance of $3.41, that minimum charge worked out to "an actual annual percentage rate" of 703.80%. - www.moneywatch.com
01/14/2010 - Banks, Credit Card Companies Profiting From Haiti's Tragedy - As Wallets Open For Haiti, Credit Card Companies Take A Big Cut - As a massive human tragedy unfolds in Haiti, relief organizations are soliciting credit-card donations through their hotlines and websites. About 97 percent of these donations will actually make it to the designated organizations -- but the other 3 percent will be skimmed off by banks and credit card companies to cover their "transaction costs." - www.huffingtonpost.com
01/04/2010 - The Secret History of the Credit Card - In "Secret History of the Credit Card," FRONTLINE and The New York Times join forces to investigate an industry few Americans fully understand. In this one-hour report, correspondent Lowell Bergman uncovers the techniques used by the industry to earn record profits and get consumers to take on more debt. - www.pbs.com
01/04/2010 - The Card Game series is a joint reporting project with the PBS program "Frontline." - Investigating the massive consumer loan industry and what's ahead for customers and banks -- a FRONTLINE-New York Times co-production. - www.pbs.com
01/04/2010 - Visa Gains Customers By RAISING Fees. How Visa, Using Card Fees, Dominates a Market - When you sign a debit card receipt at a large retailer, the store pays your bank an average of 75 cents for every $100 spent, more than twice as much as when you punch in a four-digit code. - www.nytimes.com
01/04/2010 - Banks Race To Raise Credit Card Fees. See How Much Your Rate Could Rise - Consumer advocates say the race is on, as banks and credit card companies look for ways to make up the estimated $50 billion they're about to lose when new credit card rules take effect. After government crackdown, banks target consumers to make up lost revenue. But now, in many cases, those advocates say, the banks are targeting consumers' credit cards to make up their losses. - www.abcnews.com
12/29/2009 - Credit Card Delinquencies Up November, More Borrowers Struggling - More U.S. credit card users fell further behind on their payments in November, Moody's Investor's Services said Tuesday. - www.huffingtonpost.com
12/28/2009 - How to Lower your credit card rate - Tired of your old credit card rate? Skyrocketing fees and shrinking credit limits? In the first of our series on Financial Resolutions -- here's how you can find the best terms. - www.cnn.com
12/02/2009 - Credit Card Delinquencies Hit Five-Month High In October - Struggling credit card holders fell behind on their payments in October at the highest rate in five months, according to Fitch Ratings. - www.huffingtonpost.com
12/02/2009 - Credit card rates: Nowhere to go but up - New law will rein in many practices long decried by consumer activists. What it won't do is keep interest rates, now at a low point, from rising. - www.cnn.com
11/23/2009 - Banks' newest game: Debit card fees - Faced with new credit card restrictions, lenders are touting debit card loyalty programs. But many come with fees that may not be worth it for consumers. - www.cnn.org
11/23/2009 - Overdraft fees: Outrage over bank charges - Overdraft outrage is coming to a boil as the year wraps up. Banks are projected to collect a record $38.5 billion in fees this year, a 22 percent increase from 2006, according to economic research firm Moebs Services. - www.sun-sentinel.org
11/22/2009 - What if you can't pay your credit card bills? - The nation's tough economic times have given credit issuers plenty of trouble. And that has made them more willing to cut deals with troubled debtors. - www.sun-sentinel.org
11/17/2009 - Gift Card Crackdown: SEE The Fed's New Rules To Protect Consumers - Under the proposed rule, consumers must have at least five years to use the gift cards before they expire. The Fed also said service or inactivity fees can be imposed only under certain conditions. - www.huffingtonpost.com
11/12/2009 - 10 Ways Credit Card Companies Are Still Ripping You Off - Credit card companies are already finding new ways to get rich at your expense, all while racing to increase penalties and other charges before February, when the new rules go into effect. - www.businessinsider.com
11/04/2009 - 29 Overdraft Fees In 27 Days: Birthday Spoiled By Bank Statement - "Nobody can tell me what they're for," Miller said in an interview with the Huffington Post. "All they can tell me is, 'Yeah, it's wiping out your bank account.'" - www.huffingtonpost.com
11/03/2009 - Credit card issuers fight for more profit - with more and more consumers falling behind on payments, there are concerns that losses for card issuers could worsen from here. - www.cnn.com
11/02/2009 - The downside of debit cards - Rising rates and soaring credit-card fees mean many are switching to debit cards. But there are risks to using debit cards as well. - www.cnn.com
10/30/2009 - BofA Dumps Complaining Customer, Wants Her Back Two Days Later - "I Was Blind To Let You Go": According to Jane Padgett, when she protested further, pointing out that she'd never made a late payment on the card in question, the Bank of America representative responded by canceling her credit card altogether -- ending a 12-year relationship in which she'd done nothing but - www.huffingtonpost.com
10/29/2009 - Bank Of America, Citigroup Testing New Charge For Customers With Flawless Credit - The banks are starting to charge fees to reliable customers in response to a slew of new credit card industry regulations that will limit when banks can hike interest rates. Cardholders who get a new annual fee notice in the mail will be in a no-win situation. - www.wcbstv.com
10/29/2009 - Credit Card Companies Continue Practices BANNED In New Legislation: STUDY - nearly all contracts still allow banks to raise interest rates on outstanding balances. Most also still have penalty interest rates that can be triggered with just one or two late payments or overlimit transactions. And most still allow banks to apply payments to the lowest interest portion of balances first. - www.huffingtonpost.com
10/27/2009 - Lawmaker Calls For Immediate Credit Card Rate Freeze - Senate Banking Committee Chairman Chris Dodd, who is fighting for his political survival, proposed Monday an immediate interest rate freeze on existing balances for the estimated 700 million credit cards in circulation. - www.cnn.com
10/27/2009 - Small business credit cards flourish as loans disappear - Want a loan for your business? Hit the plastic. That's about all banks are going to offer -- and the terms are much less favorable than traditional lines of credit with interest rates as high as 30% - www.cnn.com
10/23/2009 - Credit Card Debt Trap - Part 1 of 10 - Dateline NBC... - Credit Card Debt Trap - Part 1 of 10 - Dateline NBC... - www.youtube.com
10/23/2009 - 5 evil things credit card companies can (still) do - The credit card reform bill tries to help cash-strapped customers, but companies are just coming up with new ways to boost profits. - www.cnn.com
10/19/2009 - Overdraft crackdown gains steam - Overdraft fees: Senate gets tough - the Senate bill would require banks to ask customers before enrolling them in overdraft programs. In addition, like the House bill, it would limit the number of overdraft fees charged in a year. - www.cnn.com
10/15/2009 - 79.9 Percent Interest Rate: RIDICULOUS Credit Card Offer Sent To San Diego Man - called the number on the offer, gave them the offer code and verified his information. Sure enough, it was right: the pre-approved credit card came with a 79.9 percent APR. The California Attorney General's office said there's nothing it can do about the cards since they are issued out of state and out of its jurisdiction. - www.reuters.com
10/11/2009 - Small Businesses Still Having A Hard Time Getting Loans - They say their home equity lines of credit have been cut, business credit lines withdrawn and credit card limits slashed. Still profitable firms complain of a major pullback by banks, which many warn will leave a U.S. economic recovery stillborn. - www.reuters.com
10/09/2009 - The Great ATM Robbery - The nation still asking: What About Us? The obscenely high new bank fees for ATM usage and overdrawn checks. - www.cnn.com
10/09/2009 - Some credit card companies rush to act before new law - A Chase spokeswoman said the higher rate had nothing to do with the Lanes' credit or payment history, but rather that the company doubled the minimum payments for more than 1 million cardholders in August because it wants them to pay down more of their principal. - www.cnn.com
10/08/2009 - Wells Fargo Will Raise Credit-Card Rates Ahead of Law - Wells Fargo on a majority of credit-card customers by 3 percentage points before federal rules limiting such increases take effect, a company - www.bloomberg.com
10/07/2009 - Bank of America Won't Hike Card Rates - Bank Of America said it will not raise credit card interest rates before February, when a law restricting industry practices takes effect, unless a cardholder is in default. - www.washingtonpost.com
09/29/2009 - "Debtors' Revolt" Message Resonates (VIDEO) - When Ann Minch told the "evil, thieving bastards" at Bank of America they could stick her credit card debt in their "bailout pipe and smoke it," the message resonated. - www.huffingtonpost.com
09/23/2009 - Credit Card Nightmare: One Lost Check And A Lifetime of Bankruptcy - Freedom Financial successfully negotiated with Sophie's credit card companies, which were receptive at first. "Most of them are very understanding and realize that times are hard," Sophie said. - www.huffingtonpost.com
09/23/2009 - Bank Of America Backpedals On Overdraft Fees - Bank of America Corp. said Tuesday it will cap the fees it charges customers for overdrawing their accounts, backpedaling on the hikes the company imposed just this year. - www.huffingtonpost.com
09/21/2009 - Digging out from $80,000 in debt - The average American household has $8,329 in credit card debt, according to the Nilson Report, a credit industry newsletter. - www.cnn.com
09/21/2009 - Ann Minch - Debtors Revolt Starts Now! - Pull your money from the big corporate banks and find a local community bank or credit union, downsize and simplify your life, use cash or barter to obtain necessities. - www.debtorsrevoltnow.com
09/21/2009 - Ann Minch Triumphs In Credit Card Fight (VIDEO) - Minch said in a video posted Saturday that a Bank of America executive contacted her on Friday. - www.huffingtonpost.com
09/15/2009 - If The Recession Is Over, Why Are Credit Card Delinquencies Rising? Worst Yet To Come - Capital One recently disclosed that delinquency rates on its cards increased to about 5.1 percent in August from 4.83 percent in July. The nation's largest bank, Bank of America, said its charge-offs -- loans it doesn't expect to be repaid -- were up to 14.54 percent in August from 13.81 percent in July; charge-off rates for Discover and Citigroup also rose.www.huffingtonpost.com
09/09/2009 - Credit Card Companies Are Using New Fees To Skirt Reforms. Dodging Credit-Card Reform - Card issuers are already proposing new fees and thinking up ways to subvert interest-rate restrictions. www.businessweek.com - VIDEO -
09/09/2009 - Overspending on Debit Cards Is a Boon for Banks - Banks and credit unions have long pitched debit cards as a convenient and prudent way to buy. But a growing number are now allowing consumers to exceed their balances - for a price.www.nytimes.com
09/09/2009 - Winning the Card Game: Debit Cards - Ron Lieber, author of the Your Money column, explains the inner workings of debit cards and how to avoid overdraft fees that can cost hundreds of dollars a month. www.nytimes.com - VIDEO -
09/09/2009 - Overspending on Debit Cards Is a Boon for Banks. The Card Game: The Deal With Overdrafts - A growing number of banks and credit unions now cover overdrafts for debit purchases, A.T.M. withdrawals and checks, rather than decline the purchase. And the practice has become a huge source of revenue. www.nytimes.com - VIDEO -
09/09/2009 - Banks To Make $27 Billion On Overdraft Fees - Banks and credit unions have long pitched debit cards as a convenient and prudent way to buy. But a growing number are now allowing consumers to exceed their balances - for a price. www.nytimes.com
09/09/2009 - Biggest banks stepping in to payday arena - A few of the nation's largest banks -- including Minneapolis-based U.S. Bancorp, Wells Fargo & Co. of San Francisco, and Fifth Third Bancorp of Cincinnati -- are now marketing payday loan-type products, with triple-digit interest rates, to their checking account customers.www.startribune.com
09/01/2009 - 7 tips for disputing a card charge - TWhen it comes to challenging travel charges on your credit card bill, the process is more of an art than a science. Here are some nuances. - www.sun-sentinel.com
09/01/2009 - New credit card rules both help and hurt consumers - The bad news is that in recent months, credit card companies have been ratcheting up interest rates and cutting card limits. - www.sun-sentinel.com
09/01/2009 - Debit cards: Starting to look a lot more like credit - debit card purchases had totaled $206 billion, while credit purchases had totaled $203 billion. - www.dailyfinance.com
08/28/2009 - Millions Face Cuts In Credit Card Limits, Biggest Industry Shake-Up In 20 Years - This is just the beginning of the biggest shake-up in the credit card industry in at least 20 years, analysts said. - www.reuters.com
08/21/2009 - Credit card's new reality - Fortune's Andy Serwer says banks offering credit cards have raised rates in response to new government regulations. - www.cnn.com
08/20/2009 - Credit card relief: Phase one Starts Today - The first part of Obama's crackdown on the credit card industry will give consumers more notice when contracts are changed and the option to reject interest rate increases. - www.cnn.com
08/18/2009 - Protect Your Credit Card From Theft - Data Clone Labs Data Security Analyst Ira Victor with tips on how to avoid credit card scams. - www.foxbusiness.com
08/18/2009 - Government to Announce New Credit Card Rules - Credit.com Founder Adam Levin on how the government's new credit card might impact consumers. - www.foxbusiness.com
08/17/2009 - Credit Card Fees Rising? Consumer 'Protection' Act May Be to Blame - Legislation meant to protect consumers from unfair credit-card lending practices may be to blame for a host of new fees - www.foxbusiness.com
08/17/2009 - CREDIT CARD COMPANIES RUSHING TO JACK UP RATES - Cost of credit card debt soaring. THE SAVAGE TRUTH | Issuers raising rates, planning more fees as first consumer protections kick in this week - www.suntimes.com
08/16/2009 - Rising credit card minimums: Fair or foul? - Opening the August credit card statement is going to send the blood pressure of some Chase customers skyward. Increasing the rate from 2% of the outstanding balance to 5%. If you're carrying a $5,000 balance that means your required minimum payment went from $100 in July to $250 this month. - www.cnn.com
08/15/2009 - Bye, Bye Miles: Credit Card Companies Slashing Rewards Programs - Now many customers have to pay additional fees or earn more points to redeem free plane tickets or claim cash-back perks. - www.washingtonpost.com
08/14/2009 - In A First, Bank Of America Ends Arbitration Of Credit Card Disputes - The new policy applies to credit card, auto, marine and recreational vehicle loans, as well as deposit accounts, and means unhappy consumers will be able to file lawsuits against the bank to address perceived unfair or illegal activity. - www.reuters.com
08/11/2009 - Credit card reform goes into effect - Consumers will get their first taste of the landmark credit card reform law this month as banks become required to give at least 45 days' notice of any significant change in their card offerings. - www.sun-sentinel.com
08/08/2009 - Americans' credit card debt drops more than expected - Consumers paid down their credit cards and cut other debt in June for the fifth straight month as they rebuild savings battered by the recession. - www.stltoday.com
07/29/2009 - Visa Quarterly Profit Jumps 73 Percent Amid Recession - Visa continued to report increasing U.S. reliance on debit transactions rather than credit in the latest quarter, as consumers become more conservative. - www.huffingtonpost.com
07/22/2009 - Credit card debt rises faster for those 65 and older - Cash-strapped older Americans are racking up credit card debt faster than other consumers amid dwindling retirement portfolios and rising medical costs. - www.usatoday.com
07/22/2009 - CREDIT CARDS - Credit Card News Portal Related to the CC Crisis - www.huffingtonpost.com
07/22/2009 - CREDIT CARDS DEBT - Credit Card Debt News Portal From Huffington Post - www.huffingtonpost.com
07/22/2009 - CREDIT CRISIS - Credit Crisis News Portal From Huffington Post - www.huffingtonpost.com
07/22/2009 - 10 Percent is Enough - we can join Metro Industrial Areas Foundation's (IAF) "Ten Percent is Enough!" campaign, a national effort being launched today in Washington, New York, Boston, Chicago and Durham that seeks to reinstate usury laws to cap interest rates at 10 percent for credit cards and personal loans, including payday loans and rapid-return tax refund businesses. - www.huffingtonpost.com
07/22/2009 - James O'Connell of California. Plugging Along At 62 With Lots Of Debt, No Job And No Credit - In May, Citibank suddenly closed the account on his last credit card, citing delinquencies on other accounts, leaving O'Connell with no credit at all. - www.huffingtonpost.com
07/17/2009 - TARP Watchdog Warns Of Credit Card Lobby-pocalypse - Because some people look at laws and ask, why not? We're looking at laws and asking, who paid for them? - www.huffingtonpost.com
07/12/2009 - Credit and Debit Cards - Articles on how to select cards and how to use them are available in this section. - www.nytimes.com
05/15/2009 - Your Credit Card Company Is Building A Psychological Profile Of You - The next time you apply for a credit card, your credit report and income will be only a part of the criteria used to determine your creditworthiness. - www.consumerist.com
05/12/2009 - Credit and Debit Cards: What You Need to Know - After two decades of almost constant expansion and profitability, card companies today are in deep trouble. Monstrous losses - estimated to top $395 billion over the next five years - www.nytimes.com
01/06/2009 - What Does Your Credit-Card Company Know About You? - Though the two types of cards may be used interchangeably, there are notable differences between them. Let's start with debit cards. - www.nytimes.com
07/09/2009 - Incredible: Bailout Recipients Fighting To Keep Charging Exorbitant Credit Card Fees - TARP Recipients Fighting To Keep Charging Exorbitant Credit Card Fees - www.huffingtonpost.com
07/08/2009 - Consumers credit card woes - Consumers are falling behind on their credit card bills at a record pace. www.reuters.com - VIDEO -
06/19/2009 - Is the Credit Card Squeeze a Blessing in Disguise? - business credit cards do not go on your personal credit file. That is very significant. If your business is carrying balances on a personal card, it can wreak havoc on your FICO score. - www.nytimes.com
06/19/2009 - Small Businesses Squeezed By Steep Credit Card Cutbacks, Fees - banks and credit card companies, which opened their coffers when the economy was flourishing, are now pulling back from nearly everything that hints of risk. - www.nytimes.com
06/16/2009 - Credit card defaults keep climbing - Default rates in May continue to rise as borrowers struggle with the weak job market. - money.cnn.com
06/15/2009 - During Downturn, Credit Card Companies Settle Bad Accounts For Less - In recent months, with unemployment topping 9 percent and more people having trouble paying their bills, this approach has risen drastically. - www.nytimes.com
06/15/2009 - U.S. credit card defaults rise to record in May - Delinquency rates -- an indicator of future credit losses -- fell across the industry, another sign that consumers remain under severe stress. - www.reuters.com
06/11/2009 - Mortgage And Credit Card Delinquencies May Have Peaked: Equifax - Meanwhile, May 2009 consumer bankruptcy filings were 34 percent higher than the same month a year ago, and are the highest since 2005. - reuters.com
06/04/2009 - Dispatches from the Displaced: Los Angeles Couple Blogs Their Foreclosure -Stephanie and Bob Walker have chronicled their experience with mortgage default and pending foreclosure on their blog. - Love in the Time of Foreclosure.com - BLOG -
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