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  News Library - 2005

Citi AmEx Cards December, 21, 2005

The largest MasterCard issuer and the sole issuer of Diners Club has introduced credit cards that will run on the American Express network. Citibank is introducing its AmEx cards this month with the full suite of five card products to be available as of ... more

Fast Food & Cards December, 20, 2005

Based on figures for the holiday season thus far, Americans may charge more than $37.0 billion worth of fast food to their credit and debit cards this year, compared to $22.5 billion one-year ago. The figures reflect growing consumer and merchant acceptance ... more

Bankruptcy Losses December, 19, 2005

Credit card losses, or charge-offs, topped 7% in October due to the surge in bankruptcy filings in the final weeks leading up to the full implementation of the bankruptcy reform laws. The worst is not over, since issuers treat bankruptcy related charge-offs ... more

Rate Burn December, 16, 2005

For the first time in the U.S., punitive interest rates charged by the top U.S. general purpose credit card issuers will slip past the 31% barrier. Due to the increase in the prime rate this week to 7.25%, Chase, Citibank, and Bank of America will begin ... more

Futuretrust MasterCard December, 15, 2005

The two-year old "Futuretrust MasterCard" program keeps expanding and now has more than 500 partners. This week Carlton Cards and its 500 specialty retail card and gift stores joined the college savings program. more

O Card December, 14, 2005

"Club O" now has its own VISA credit card. Overstock.com and Chase this week launched a co-branded card that features triple points for every dollar spent at Overstock and one point for every dollar spent elsewhere. more

Mileage Maximizer December, 13, 2005

Now you can have your miles and eat them too. E*Trade Financial says rack up air miles on any credit card but automatically transfer your monthly balance to them. E*Trade has introduced a proprietary, automated credit card balance transfer system which ... more

Micropayments December, 12, 2005

Nearly 20 million Americans have purchased something online for less than $2 in the past year, up nearly 29% from 2004 and 350% since 2003. Also, an estimated 45 million Americans are willing to use credit or debit cards for purchases of $5 or less, up 23% ... more

Oct Debt December, 9, 2005

Revolving consumer credit dipped below the $800 billion mark in October, falling 2.4% on an annual basis. Overall, consumer credit fell unexpectedly by a seasonally adjusted $7.2 billion after rising in September, driven by low demand for auto loans. more

Hot Xmas Days December, 8, 2005

"Black Friday" and "Cyber Monday' are figments of the media's imagination. Truth is: last Thursday was the hottest day for online shopping and last Friday was the hottest overall shopping day. more