Credit Cards Blog

Friday, February 17, 2012 3:00 pm
By Janna Herron · Bankrate.com

The federal consumer watchdog agency is setting its sights on consumer reporting companies. The Consumer Financial Protection Bureau on Thursday proposed to oversee the largest consumer reporting companies (along with debt collection firms) under its nonbank supervision program. It’s unclear whether the proposal includes credit scoring firms such as FICO or VantageScore, and the CFPB

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Thursday, February 16, 2012 4:11 pm
By Janna Herron · Bankrate.com

If we water down the stats from two recent reports, a New Jerseyan of the Greatest Generation (66 years or older) will have the highest credit score around. Using this same simple math, a Generation Yer from Mississippi would have the lowest. Of course, that’s oversimplifying two reports released this week. The first one is

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Wednesday, February 15, 2012 4:03 pm
By Janna Herron · Bankrate.com

Looks like Americans are working on their New Year’s resolutions to pay down holiday credit card debt. A report from CreditKarma.com on Wednesday showed that the average U.S. consumer trimmed their credit card debt by 8 percent to $6,069 in January from December. Average credit card balances fell in every state except Wisconsin, where it

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Tuesday, February 14, 2012 4:36 pm
By Janna Herron · Bankrate.com

It looks like this Valentine’s Day will be a bit less lovey-dovey than last year’s, according to a survey last week from Visa. Americans plan to spend $117 on their sweethearts this year, down 3 percent from $121 in 2011. And ladies, the gentlemen are the ones ponying up the most. Men said they will

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Monday, February 13, 2012 4:47 pm
By Janna Herron · Bankrate.com

Got some unused gift cards left over from the holidays, but don’t think you’ll use them? (About 5 percent to 7 percent of gift cards go unredeemed every year, according to Plastic Jungle.) Now you can turn them into airline miles. United Continental on Monday unveiled its MileagePlus Gift Card Exhange that allows memebers of the

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Friday, February 10, 2012 4:47 pm
By Janna Herron · Bankrate.com

There’s been some confusion about how the Internal Revenue Service views rewards points. The uproar started when some Citi customers received a 1099-MISC tax form from the bank for the reward miles they got after signing up for a new checking or savings account. The bonus rewards were part of a promotion by Citi. (Tax

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Thursday, February 9, 2012 4:33 pm
By Janna Herron · Bankrate.com

American Express wants you to pay an annual fee. That’s one of the takeaways from the credit card issuer’s investor call on Wednesday. And they may not be the only one. Company Chairman and CEO Kenneth Chenault told analysts this week American Express is “driving card fee revenues.” He noted that many of the issuer’s

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Tuesday, February 7, 2012 4:14 pm
By Janna Herron · Bankrate.com

The new federal consumer watchdog is sniffing at payment protection plans offered by one credit card company, highlighting a profitable plan for issuers that may not be worth your money. Discover said late last month the Consumer Financial Protection Bureau (along with the Federal Deposit Insurance Corp.) is checking into the marketing of its payment

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Monday, February 6, 2012 4:12 pm
By Janna Herron · Bankrate.com

It won’t be long before a chip credit card finds its way into your wallet. Visa said Monday that issuers handed out an estimated 1 million EMV-enabled Visa cards as of the end of last year.  That’s up from virtually zero a year and a half ago, according to the global payments technology company. (The

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Wednesday, February 1, 2012 4:15 pm
By Janna Herron · Bankrate.com

MasterCard is putting more weight behind its push to bring EMV debit and credit cards to the U.S. The credit card company said Monday it’s offering U.S. retailers and ATM owners a road map to make their point-of-sale terminals and cash machines EMV-friendly by April 2013. The company was vague on details, but it did

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