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News Library - April, 2007

Thinning Wallets April, 30, 2007

A new survey shows that more consumers are shedding payment products compared to two years ago. Nearly half of those trimming their wallets have canceled or reduced their usage of standard credit cards. more

New Secured Card April, 27, 2007

Chicago-based Banco Popular has introduced two new MasterCard products for the U.S. market. The "Banco Popular Platinum MasterCard" offers a 0% intro APR for balance transfers, plus the "Popular Rewards" loyalty program. more

Fashion Rewards April, 27, 2007

Nordstrom has launched a new rewards program that blends the Company's current points system with more benefits based on customers' spending levels using any Nordstrom credit or debit card. The new "Nordstrom Fashion Rewards" offers the points program to ... more

Building Balances April, 26, 2007

Monthly payment rates, the amount cardholders pay on their outstanding balances each month, continues to spiral down, falling below 18.50% for the first time since July 2005. The payment rate peaked in October of last year, reaching almost 21%. more

Financial Guru April, 25, 2007

VISA USA has teamed with the financial gal associated with "The Oprah Winfrey how" and "The Today Show." Best-selling personal finance education author Jean Chatzky will now work with VISA's "Practical Money Skills for Life" and "What's My Score" programs. more

Citi Money Guide April, 25, 2007

Dara Duguay, the former Executive Director of the Washington, DC-based Jump$tart Coalition for Personal Financial Literacy who joined Citibank three years ago, has edited a new personal financial guide for the banking giant. The new "Citi Commonsense Money ... more

Wallet Share April, 24, 2007

A new study has found that more consumers prefer debit cards than any other type of payment for point-of-sale purchases. This is the first time in the study's history that debit cards exceeded all other payment devices as the overall preferred payment ... more

Contactless Bandwagon April, 24, 2007

Payment cards that enable you to "wave to pay" instead of "swipe to pay" are spreading like wildfire in the USA. This week VISA announced that its contactless payment feature will henceforth be known as "VISA payWave" and Discover is ready to announced the ... more

Late Payment Fees April, 20, 2007

For the first time in more than 20 years the average late payment fee for bank credit cards declined in March to $35.01 compared to $35.07 for the prior month. Most of the top issuers charged a late fee of $39, however the fee is now assessed based on the ... more

DeadBeets April, 20, 2007

The number of Americans who pay-off their credit card balances each month declined for the third consecutive year in 2006. Recently the payment card industry has been reporting a decline in the monthly payment rate after nearly four years of firm increases. more