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News Library - January, 2008

Magic Day January, 25, 2008

While some credit card pundits say card issuers will be "sluggish" with passing on the savings from this week's surprise interest rate cut, the truth is the rate deductions are coming sooner rather than later. For some the "Magic Day" is here for the new 6.5% ... more

Happy Taxi January, 25, 2008

If a "Big Apple" taxi driver refuses to take your credit or debit card for payment then a "Big Fine" might apply. The New York City Taxi and Limousine Commission will issue fines between $150 and $350 for drivers who refuse to accept a passenger's payment ... more

LUV Love January, 24, 2008

The LUV airline has teamed up with a 70's retro rock "Love" artist to offer its "VISA Signature" cardholders a chance to win special give-aways and experiences, including private meet-and-greets. Cardholders of the "Rapid Rewards VISA Signature" card offered ... more

Love Sale January, 24, 2008

PayPal says its recent survey of couples in the U.S. and the U.K. found that "Money Can’t Buy Love," and in fact the majority of young couples have argued over money at least once a month. To ease the squabbling, PayPal is gearing up to launch a batch of ... more

Going Once January, 23, 2008

Want a dream vacation for about a third less? Next month, American Express will run an online auction of the most-desired travel packages for its cardholders. The bidding gets underway on February 4th for ten days. more

Prepaid Scam January, 23, 2008

A group of prepaid card scammers are coughing up more than $2 million to settle government charges that they ripped off consumers. Through Web sites, pop-up and e-mail advertisements the gang marketed prepaid cards such as "Acclaim VISA," "Impact VISA," ... more

Surprise! Surprise! January, 22, 2008

Today's surprise Fed interest rate cut is very good news for credit cardholders as the prime rate is being pushed down to 6.50%, the lowest since August 2005. With a median revolving credit card balance of about $6600 and most credit card rates pegged to the ... more

Yard Card January, 22, 2008

Midshipmen at the U.S. Naval Academy in Annapolis are having a blast with a new card that enables them to pay and play. The new "Yard Card" is a stored value card that rewards users for frequenting on-campus auxiliary restaurants and coffee concessions. more

Table Pay January, 22, 2008

Taking your credit card to the back room to process a restaurant bill will soon be a thing of the past as more establishments deploy pay at the table solutions. Ruth's Chris Steakhouse is now testing table-side payment for credit cards in Texas. more

Card Fees January, 18, 2008

U.S. credit card issuers charged consumers an estimated $30 billion in fees last year, about 6% higher than 2006. Merchants shelled-out about $33 billion to accept credit cards. More the half, or $18 billion, of the cardholder fees were penalty fees such as ... more