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News Library - January, 2007

Super PayPass January, 31, 2007

MasterCard's contactless payment option will be in full action this weekend at Dolphin Stadium for the "SuperBowl." "PayPass" was installed at Dolphin Stadium prior to the start of the football season and is also accepted at numerous other merchants ... more

Financial Football January, 30, 2007

A free, first-of-its-kind cell phone game that helps teens learn how to manage money wisely has been launched. VISA USA has released "Financial Football" which scores points for answering various money management questions correctly and subtracts yardage for ... more

Debit Sting January, 29, 2007

A new report has found that in-store debit card purchases that cause an overdraft cost $2.17 for every dollar borrowed. By comparison, check-triggered overdraft loans cost $0.86 per dollar borrowed. more

Expiring Miles January, 26, 2007

If you've got some miles racked-up with United Airlines and you have not flown United or its partners for the past 18 months you could lose you earned miles by the end of this year. The nation's second largest airline loyalty card program is cutting the ... more

Card Bashing January, 25, 2007

A U.S. Senate Committee will open a hearing today to explore the business practices of the U.S. credit card industry as consumers groups are chomping at the bit to have their say. The consumer groups want Congress to crack down on card issuers by using more ... more

Totally Free Card January, 24, 2007

A new small business card has been introduced that is devoid of all nuisance fees and default interest rates. NJ-based Commerce Bank has introduced a "VISA Platinum for Small Business" that also offers cardholders the ability to earn quadruple "VISA Extras ... more

Losing Interest January, 23, 2007

More VISA and MasterCard issuers are backing away from using the two-cycle method of calculating finance charges. The least understood credit card gotcha has been used by some of the top credit cards in the country including the Discover card and the General ... more

Contractors Card January, 22, 2007

Small contractors can nail down a flexible business credit card with a new product from Chase. The new "Chase Contractor Cash Rewards VISA Signature Business Card" offers a 60-day interest free, same-as-cash financing for construction material purchases of ... more

Poster Contest January, 19, 2007

Financial literacy and art come together in a poster contest that got underway this week. The National Foundation for Credit Counseling is sponsoring the contest and will award prizes in three grade categories. more

Rate Gap January, 18, 2007

The gap between variable rate credit cards and fixed rate credit cards has widened to 188 basis points. Variable (go-to) rate cards have also saturated the market, now making up 86% of all cards-in-force. more