Credit Cards Blog

Wednesday, October 6, 2010 10:58 am
By Leslie McFadden · Bankrate.com

Citi announced yesterday that it will start a pilot program in November with programmable credit cards that allow cardholders to redeem their rewards points or dollars at the point of sale with a push of a button on their credit card. According to a press release from Citi, the “2G credit cards” will have a

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Tuesday, October 5, 2010 4:04 pm
By Leslie McFadden · Bankrate.com

Yesterday the U.S. Department of Justice, along with seven states attorneys general, filed a civil antitrust lawsuit against American Express over rules it has in place that prevent merchants that accept its cards from offering incentives to consumers for paying with cards that have lower processing fees. The DOJ also said that it had reached

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Thursday, September 30, 2010 3:58 pm
By Leslie McFadden · Bankrate.com

With the holidays fast approaching, it’s time to start thinking about how you’ll pay for all those presents. Luckily, one source of funds may already be in your wallet. Here’s a quick tip on using your credit cards to save money on gifts. If you have cash-back or rewards credit cards, check the rewards summary on your

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Monday, September 27, 2010 4:50 pm
By Leslie McFadden · Bankrate.com

Starting today, for-profit firms that sell debt relief services to consumers over the phone, such as credit counseling, debt settlement or debt negotiation, must comply with new provisions in the Telemarketing Sales Rule, or TSR. Three amendments to the TSR taking effect Sept. 27, 2010, will: Require debt relief companies to make specific disclosures to

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Friday, September 24, 2010 11:12 am
By Leslie McFadden · Bankrate.com

Visa has joined MasterCard in a pilot program in New York that lets consumers pay for subway fare by tapping their credit card or smart phone at the turnstile, Reuters reported earlier this week. A separate test involving contactless transit payments in Los Angeles began this month. “In New York, Visa is allowing riders to pay using Visa

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Monday, September 20, 2010 2:12 pm
By Leslie McFadden · Bankrate.com

Elizabeth Warren, the recently appointed assistant to President Barack Obama and special adviser to the secretary of the Treasury on the Consumer Financial Protection Bureau, or CFPB, will oversee “all aspects of the bureau’s creation,” President Obama said last week during the announcement of her appointment. In addition, he said that she would play a

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Thursday, September 16, 2010 4:30 pm
By Leslie McFadden · Bankrate.com

You can consolidate debts, but in the future you might be able to consolidate credit cards — literally — and carry around one card for multiple accounts with the same institution. At a technology conference this week, a startup called Dynamics Inc. demoed two types of next-generation smart cards that feature programmable magnetic stripes, according

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Wednesday, September 15, 2010 2:51 pm
By Leslie McFadden · Bankrate.com

Today I wanted to address a reader’s question about the Credit CARD Act, which is short for the Credit Card Accountability, Responsibility and Disclosure Act of 2009. It isn’t often that I get to give a black-and white answer to a question, but this time I can. “Credit savy” writes:  “I have heard that with

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Monday, September 13, 2010 2:54 pm
By Leslie McFadden · Bankrate.com

Sometimes you just have to close your credit card account. One good reason: the addition of a giant annual fee. I’m not a fan of the move, as I like having multiple credit cards at my disposal, and all the unused available credit helps my credit score. Today’s drama changed my mind. Background: I hold

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Friday, September 10, 2010 11:02 am
By Leslie McFadden · Bankrate.com

Credit card use dropped to an all-time low of 56 percent in 2009, down from 87 percent in 2007, says a new report from Javelin Strategy & Research, in Pleasanton, Calif. The report, titled “The Rise of the Cautious Consumer,” notes that other payment methods, such as debit cards and prepaid reloadable cards, have grown

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