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News Library - November, 2007

Cyber Monday? November, 21, 2007

When does "Cyber Monday" happen this year? In the past it has been designated as the Monday following Thanksgiving. However, MasterCard says transaction data for historical holiday online shopping data show that "Cyber Monday" fell on December 11th last year ... more

Bankruptcy Trends November, 21, 2007

Total bankruptcy filings increased by 28% in the third quarter compared to the year ago period, and rose 4% since mid-year. During the three months ending September 30th, total filings hit 218,909 compared to 210,449 for the second quarter and 171,146 ... more

Black Friday Morning November, 20, 2007

Based on historical payment card transaction data, about 33% of of purchases on "Black Friday" will occur between the wee hours and 10 a.m. on November 23rd. MasterCard says "Black Friday" was the busiest day for holiday shopping last year for ... more

Jerking Rates November, 20, 2007

The nation's second largest issuer of general purpose credit cards says it plans to pull the plug next year on its practice of jacking up interest rates on cardholders whose credit score declines. Chase announced it is expanding its "Clear & Simple" pricing ... more

Holiday Card Use November, 19, 2007

Americans will likely use general purpose credit/debit cards and store credit cards to charge more than $148 billion in retail sales this holiday season. While overall spending via all payment means is expected to rise between 4% and 5%, the figure for ... more

Peak Shopping Days November, 19, 2007

While there is a major focus on retail shopping data for "Black Friday" (November 23rd) and "Cyber Monday" (November 26th), the peak holiday shopping day will likely be Saturday December 22nd. Based on historical shopping patterns, the week of December 17-23 ... more

Gift Card Boom November, 16, 2007

New research shows that 57% of consumers plan to buy gift cards, while 88% of buyers said they will purchase two or more gift cards this holiday season. Nearly 19% said they would purchase more than six gift cards this holiday season. more

Incentive Cards November, 15, 2007

A new study on business incentives reveals that companies who currently use gift cards as employee incentives spend 49% of their incentive budgets on gift cards, rivaling the use of cash incentives at 32%. Also, 62% of incentive gift card purchases are for ... more

Discover ScoreTracker November, 15, 2007

A new credit score tracking service is being offered to Discover cardholders. The new "Credit ScoreTracker" service features a comprehensive analysis and tracking of your credit score. more

Card Pricing November, 14, 2007

The gap between variable rate credit cards and fixed rate credit cards has narrowed primarily to recent fed action to lower short term interest rates which has cut the prime rate by 75 basis points this year. At the beginning of this year, the gap between the ... more