News about credit cards

New credit cards terms aim to be shorter, easier to understand

[February 10th, 2012]

On December 7, the Obama administration unveiled simplified credit card agreement regulations. This legislation, which is part of the new Consumer Financial Protection Bureau, is an effort to help cardholders understand the interest rates and fees that they are charged by credit card companies.
Credit card companies now have a sample cardholder agreement to follow that [...]

Citigroup Earnings Increase 74% to $3.8 Billion

[December 20th, 2011]

Citigroup continues to make profits after it needed government assistance in the form of a bailout. This marks the banks second year of consecutive profits. There were tremendous gains in the third quarter of this year – showing a 74 percent increase.
Citigroup reported a profit of $3.8 billion, equaling to $1.23 a share, which was [...]

Prepaid Cards: The Alternative Option

[October 31st, 2011]

For those mostly sick of dealing with banks and the headaches created by loans, perhaps it`s time to consider giving a prepaid credit card a shot. These cards have been gaining lots of momentum recently, because they enable the user to set their own credit limit by the amount of cash poured into the account.
The [...]

Credit Card Perk Heaven

[September 22nd, 2011]

I recently went through the fun of applying for a credit card. Yes – I did say fun and without a single note of sarcasm. I have pretty good credit, not excellent, but pretty decent. Up until now, I`ve only carried one credit card, which I more often than not paid off at month`s end. [...]

0% APR credit cards for people with excellent credit history

[August 20th, 2011]

If you have been managing your finances wisely and have not gone beyond your spending means, you are in luck. Almost all the major credit card lenders are looking to sign on people with excellent credit scores and make them a part of their business because they fall under the low risk category and the [...]

Colleges make in millions from student credit card agreements

[August 7th, 2011]

Despite the CARD Act coming into implementation, colleges still have managed to make millions of dollar by signing up various credit card agreements. Just last year along, eighteen colleges in Tennessee, alumni associations and student groups made revenue of $1.8 million dollar through these agreements. The college makes money each time a student from their [...]

Prepaid cards users at the risk on increased fees

[July 23rd, 2011]

The increase in credit cards fees and charges instigated many consumers in the country to opt for prepaid debit cards, but their happiness seems to be short lived with prepaid card lenders considering the move to increase the fees on these cards. One of the rules that comes into implementation in July stipulates that banks [...]

Aftermath of fee changes on credit cards in the spotlight

[July 9th, 2011]

A change to the interchange fees being charged to the merchants by banks is in the pipeline. While merchants feel that this change is long due, the banks are unhappy and claim that a drop in these fees will make them consider levying charges for other services offered. The new rules and regulations that will [...]

Credit card issuers making a difference

[June 29th, 2011]

Credit card companies have been in the spotlight over the last few months. While the onset of recession saw these lenders go into hibernation, they are now back with a bang with the economy showing signs of recovery. There are cards that offer various deals to customers today with each one targeting a specific segment. [...]

Prepaid cards now a source of revenue to banks

[June 12th, 2011]

Banks and other financial institutions that saw their revenue being curbed with the introduction of the CARD Act have now begun issuing prepaid cards in large number to make up for the lost revenue. These cards have become so popular now that even state government are sidelining paper checks and issuing various benefits on these [...]

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