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2003:

News Library - 2003

Credit Card APRs March, 19, 2003

Over the past two years the prime rate has been chopped in half but interest rates on bank credit cards have declined less than 8%. In March 2001, the average credit card interest rate was 16.16%, and the prime rate was 8.50%. more

Credit-to-Gift Card March, 18, 2003

A southeast bank has launched a VISA credit card offering rewards in the form of a "VISA Gift" card. The new "AmSouth VISA Rewards Card" rewards cardholders with points equal to 1% of card purchases. more

Gas Credit Cards March, 14, 2003

You can slice 5% to 10% off the prices at the gas pump by using a special VISA or MasterCard, but hurry as some of these deals end soon. The "Chase Freedom Card," the "MBNA/AAA Platinum Plus Diamond Advantage VISA," and the "Shell MasterCard from Citi" carry ... more

Credit Card Debt March, 13, 2003

At the end of 2002, American households owed an average balance of $8,940 on all credit cards, up 36% since 1997, and a whopping 173% increase over the past decade. Of the $8,940 that was owed, Americans paid finance charges on an average balance of $7,286. more

Credit Card Volume March, 12, 2003

Charge volume on bank credit cards (VISA, MasterCard, Discover, and American Express) increased 8.5% last year, compared to 7.0% in 2001. VISA maintains a 43% share of credit card volume, and a 75% share of debit card volume in the USA. more

Card Debt March, 11, 2003

American consumers ended last year with $660.9 billion in bank credit card debt, an 8.8% increase over the previous year. The growth was driven by MasterCard's 14.5% gain in credit card outstandings last year, as the country's second largest payment card ... more

Debit Rights March, 10, 2003

A surprising 42% of Americans believe that retailers should have the right to require the use of a PIN with a debit card purchase. Since many banks hit consumers with a transaction fee for using a PIN with a purchase, and since some banks offer special ... more

Card Shutdown March, 7, 2003

Spiegel's First Consumers National Bank is notifying cardholders that their VISA and MasterCards cannot be used for purchases after today. However, Spiegel's store credit cards, including the Eddie Bauer, Spiegel Catalog, and Newport News cards are unaffected ... more

Cruise Cards March, 6, 2003

Royal Caribbean has docked up with MBNA to launch a new platinum VISA card. The new cruise card will go stern-to-stern with Carnival's MasterCard issued by Capital One. The new "Royal Caribbean Platinum Plus VISA" offers one point for every dollar charged, ... more

Disney VISA March, 5, 2003

You can get a real "Mickey Mouse" credit card thanks to a deal struck last year between Disney, Bank One and VISA. This week, the three companies debuted the new "Disney VISA Credit Card from Bank One." more

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