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News Library - March, 2002

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Teen Card March, 28, 2002

As teen payment cards struggle to catch on, Citibank this week launched a prepaid MasterCard aimed at students between 13 and 18 years of age. The Citi Cash Card for Students will carry a $25 annual fee and a $1.50 per transaction load-fee. more

IRS Probe March, 27, 2002

If you've been hiding income in a tax haven country and using a credit card to access the funds you could be in big trouble. The Internal Revenue Service is reviewing hundreds of thousands of such accounts and may be sending some tax cheats to jail. more

Debt Counseling March, 25, 2002

A three-year study on the change in consumer financial behavior after receiving credit counseling services, revealed that consumer credit usage and payment behavior were impacted in a positive way from such counseling. The analysis of 14,000 consumers ... more

VISA & Taxes March, 24, 2002

The largest card payment network in the USA will now accept tax payments on credit cards. Official Payments Corporation announced last week that it has received authorization from VISA USA to accept VISA cards for payment of federal and state income taxes. more

Discover 2GO March, 22, 2002

Discover Card's history of innovation carries forward this week with the launch of a revolutionary new credit card that brings the credit card out of the wallet and onto a key chain. The Discover 2GO Card is shaped differently and smaller than a traditional ... more

Fee Frenzy March, 21, 2002

After credit card interest rates declined to their lowest levels last year, a fee frenzy is beginning to envelop the credit card industry this year. Chase is set to raise its late payment fee to $35 and its credit card APRs to 19.99%. more

Dumpster Diving March, 20, 2002

Digging in the trash for credit card receipts, personal checks, or bank statements to commit fraud has spread across the Atlantic. The British are now dealing with a major problem they call "Bin Raiding," the same naughty practice that Yanks call "Dumpster ... more

Smart IDs March, 19, 2002

Americans are beginning to come to grips with the fact that it is impossible to achieve both complete security and complete privacy. Nevertheless, when it comes handling personal identity information, many U.S. consumers trust credit card companies more than ... more

BJ's MasterCard March, 18, 2002

After 18 months of searching for a new partner, the largest operator of membership warehouse clubs in the Northeast has signed a deal for a co-branded MasterCard. BJ's Wholesale Club and First USA will launch the new MasterCard in June, targeting more than ... more

i-GEN Teen Card March, 15, 2002

While some teen payment cards have floundered, the i-GEN MasterCard is alive and well, and getting ready for a major expansion. This week, Pasadena, California-based Next Estate Communications signed a deal to expand marketing of the personalized, prepaid ... more
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