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News Library - August, 2009

Card Game August, 31, 2009

If you think the new credit card regulations mean the end of "fine print", then you better get some new eyeglasses. Under new credit card regulations that went into effect this month you now have to right to opt out of changes to your account, but what is not ... more

Card Fade August, 28, 2009

Since the start of the recession the number of Visa and MasterCard credit card accounts has dropped like a rock. Credit cards hit turbulent waters in the final three months of 2008 and have fallen out of favor as debit cards have taken over. more

Biz Multi Card August, 27, 2009

A new business card has emerged that enables businesses to use it as a prepaid card or as a secured credit card to build business credit. But watch out, the card has super high fees. more

Card Balances August, 26, 2009

Average credit card debt slipped a bit a mid-year, hovering at $5700. Alaska remains the state with the highest average credit card debt while Iowa remains the lowest. According to TransUnion average credit card debt declined to $5,719 as of June 30th, ... more

Walmart MoneyCenter August, 25, 2009

The nation's 800 pound retailing gorilla is slowly but surely muscling into more banking type services. Walmart is now enabling consumers to pay utility, landline phone, cable/satellite, credit card bills, auto and wireless phone at their local store on the ... more

Limit Chop August, 24, 2009

Over the past twelve months nearly 60 million cardholders have been victims of a credit card credit limit reduction. Since the October "Credit Crunch" an estimated 33 million U.S. cardholders were hit with a "Limit Chop." more

Upper 15% Card August, 21, 2009

For consumers with very good jobs, that bring in at least $120,000 per year in household income, there is a new card that offers it all. The new "Sapphire" card from Chase is targeted at the upper 15% of U.S. households in income and offers no preset limit, ... more

CARD Act Impact August, 20, 2009

While some provisions of the new "Credit CARD Act" take effect today the credit card industry will be undergoing fundamental change over the next five months to adjust to the full impact of the new regulations. Pay close attention to ANY communications from ... more

Rate Uptick August, 19, 2009

Thanks to the new credit card rules that go into effect shortly, core credit card interest rates have been rising and will likely rise higher by early next year. At the start of the recession average credit card APRs hovered around 16%, dropping to slightly ... more

Card Stealers August, 18, 2009

The government has finally put a face on several recent data theft crimes that potentially affected more than 170 credit and debit cards. It is the largest alleged credit and debit card data breach ever charged in the U.S. Following an investigation by U.S. ... more

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