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News Library - 2008

Card Actions December, 23, 2008

In the wake of the credit crunch issuers have taken a proactive stance to mitigate risk with higher interest rates, lower credit limits and closing inactive accounts. An informal online CardTrak.com poll this month found that more than 53% of cardholders ... more

Bankruptcy Rebound December, 22, 2008

More Americans are "hitting the wall" as total bankruptcy filings jumped 34% in the third quarter (July through September) compared to the year ago period. The number of filings is the highest in more than two years and topped one million for the twelve month ... more

New Day December, 19, 2008

The minefield of credit card booby traps is being cleared but not soon enough for consumers struggling with debt. Federal regulators yesterday took some of "Wild" out of the "Wild West" of credit card lending by banning a number of unfair and deceptive ... more

Mad Consumers December, 18, 2008

The Federal Reserve Board, the Office of Thrift Supervision and the National Credit Union Administration are gearing up today to announce new credit card regulations. But consumer groups are rallying for quicker action and more rules to rein in card issuers ... more

Fees & Recession December, 17, 2008

While annual fees were largely driven from the U.S. credit card market in the early 1990s by the "Discover Card," "AT&T Universal Visa" card and the "General Motors MasterCard," the escalation of penalty fees has more than made up for the lost revenue. ... more

GC Spot December, 16, 2008

A new holiday survey reveals that nearly 70% of women want to receive a gift card and about 50% plan to give a gift card this holiday season. Nearly half of the Walmart female shoppers surveyed said they would like to have a gift card for groceries, in ... more

Totally Cool December, 15, 2008

Some Visa cardholders will be getting a taste of the future as "Visa Mobile" becomes operational on mobile devices powered by Google's "Android" on a T-Mobile "G1" phone. Besides monitoring a Visa card account, users will be able to receive coupons ... more

Debt Pulse December, 12, 2008

The average credit card debt per borrower (not per household) is $5,710 at the end of October, about 6% higher than one-year ago. The highest state average bankcard debt was in Alaska at $7,827, followed by Nevada at $6,636 and Tennessee at $6,568. more

Debt Tools December, 11, 2008

One of the nation's most stable and largest banks has unveiled a new tool kit for customers to fight the debt beast. Wells Fargo has rolled-out "Debt Pay Down Solution," "Cash Back Cards," and "Smarter Credit." more

Retirement AmEx December, 10, 2008

Another major investment firm is looking to drum up more business with a cash-back credit card. The new "Fidelity Retirement Rewards American Express" card offers a 2% earn rate on retail purchases when cardholders redeem their cash rewards as a current year ... more