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News Library - 2005

Card Mail July, 18, 2005

The number of credit card solicitations sent to consumers could approach a record six billion this year. During the first three months of 2005, more than 1.4 billion credit card offers were in the mail system. more

CUs vs Banks July, 15, 2005

While credit cards issued by banks carry lower average interest rates than those issued by credit unions, there are huge differences in the fee structures between the two issuers. A new report has found that national credit unions have, on average, lower ... more

FreedomPass Card July, 14, 2005

Small business owners may have a hard time passing up a new American Express card that effectively pays out about $65 just for signing up and making one purchase. The new "Platinum Business FreedomPass Credit Card" carries no annual fee and awards one point ... more

May Debt July, 13, 2005

Revolving consumer credit continues to be sluggish as Americans added modest debt during May, however, the expansion is substantially higher than one-year ago. In May 2004, consumers paid down $2.3 billion in revolving credit, compared to adding $800 million ... more

Blue Sky Card July, 12, 2005

American Express is taking off with a new travel rewards credit card that carries no annual fee. The new "Blue Sky Credit Card" earns points that can be redeemed on any flight, hotel, car rental or cruise charge. more

Card Fraud July, 11, 2005

While physically lost or stolen credit cards account for about 28% of card fraud, a new report has found that hacking, phishing and the use of spyware now make up 11% of fraud on existing credit cards. Low-tech dumpster diving, intercepted mail and fraudulent ... more

Big 3 July, 8, 2005

Like the car industry, the bank credit card industry is coming down to three major players, namely Chase, Citi, and BofA. The recently announced merger of Bank of America and MBNA will raise the U.S. market share of the top three general purpose credit card ... more

TravelMoney Benefit July, 7, 2005

The "VISA TravelMoney" prepaid card has become the first prepaid card to offer lost luggage coverage. Cardholders are eligible to be reimbursed up to $1,000 per account to replace luggage and its contents, if the common carrier loses their checked or carry-on ... more

Card Volume July, 6, 2005

The "Consumer Confidence Index" reached a three-year high in June as second quarter U.S. payment card gross dollar volume is expected to top $650 billion for the highest year-over-year growth rate since the third quarter of 2002. Credit and debit card GDV is ... more

May Payment Rates July, 5, 2005

After hitting the stratosphere in April, monthly payment rates on credit card-backed bonds came back to earth in May. Payment rates, the amount that cardholders pay toward outstandings each month, climbed to a record 18.52% in April before dropping 134 basis ... more