Other Market News NEWS

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 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 [...]

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 [...]

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 [...]

One of the reports by the Associated Press suggests that Bank of America recently declared its plan to levy annual fees of $59 on certain credit card accounts. The spokespeople for this bank also announced that the accounts for which these new fees will be applicable will be decided based on multiple factors such as [...]

Most consumers in the United States of America think that using credit cards everyday is a way of life. With over 73% of the American population owning a credit card, it is quite natural to think it is the norm, or the most natural thing in having. However, the credit card habits vary vastly across [...]

According to reports on credit cards, a credit card that allows balance transfer at a low introductory rate could help one get rid of huge outstanding balances without accruing too much interests. It is also a better strategy than many other ways of reducing one`s outstanding balance. At the same time it could turn into [...]

When you are in a foreign country, you can still use your American credit card for most of the purchases you make or other services. However there is bad news as well. Each of these purchases usually comes associated with a fee called foreign transaction fee or what in other words is known as a [...]