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News Library - June, 2001

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House of Cards June, 29, 2001

Taking advantage of sinking second mortgage loan interest rates, more Americans are apparently folding credit card debt into home equity. Since credit card rates have not tracked the downward spiral in general interest rates and do not provide income tax ... more

Rate Lag June, 28, 2001

Interest rate cuts are not filtering down to cardholders due to floor rates, fixed rates, and rates that are adjusted quarterly. While the prime rate has already fallen 275 basis points this year, credit card rates have only dropped by 104 basis points since ... more

Student Travel Card June, 26, 2001

Parents can forget about forking over pocket cash for high school trips. New England-based FirstDebit Corporation has developed a pre-paid MasterCard debit card specifically for high school students traveling in the USA or abroad on school organized trips. more

Smart Target June, 22, 2001

The gimmicks are over as smart payment cards enter prime time in the USA. This week a major retailer has decided to give smart cards a big boost by installing smart card terminals as well as announcing plans to issue millions of smart VISAs. more

Starwood Card June, 21, 2001

If you like Westin and Sheraton hotels you're gonna love this deal. American Express and Starwood Hotels & Resorts unveiled a new credit card this week that enables you to earn up to four air miles for every dollar spent. more

ATM Safety June, 20, 2001

For consumers, ATMs represent a point-of-contact with a bank, but it can also mean a point-of-crime with a slimeball. With more than 120,000 ATMs in the U.S. there is a lot of potential for problems which can easily be avoided by using common sense. more

North Wind June, 19, 2001

To escape U.S. law enforcement, scamsters have re-located North of the border to continue preying on ignorant Americans who fall for phony credit card offers. The FTC testified last week that cross-border telemarketing fraud involving advance fee loans and ... more

June, 15, 2001

American dads prefer new clothes for Father's Day rather than event tickets. According to a poll conducted by MasterCard last month, family members expect to spend on average $51.90 per gift for fathers this weekend. more

Blue Smarts June, 13, 2001

The first smart payment card introduced in the USA is looking to "Do More". After launching a "Code Blue" to put more life into its smart card, American Express has now turned to Proton. more

Smart ID June, 13, 2001

Paper ID cards will soon be a thing of the past in China, as the Chinese Ministry of Public Security announced this week a program to upgrade to smart cards. The new national smart ID card will be issued by the end of this year. more
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