Credit Cards Blog

Tuesday, June 7, 2011 2:35 pm
By Marcie Geffner · Bankrate.com

More consumers are reducing their credit card debt and staying current on their credit card payments, judging by a new analysis of TransUnion credit records. The average total debt per user dropped $286, or 5.8 percent, to $4,679 in the first quarter of 2011 from $4,965 in the fourth quarter of 2010. The most recent

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Monday, June 6, 2011 10:11 am
By Marcie Geffner · Bankrate.com

Another U.S. bank has taken a step forward in the slow migration toward chip and PIN credit cards. But the step is a small-scale one, expected primarily to benefit U.S. travelers to foreign countries. The financial institution in this latest development is Silicon Valley Bank. They will offer chip-based payment cards based on the EuroPay-MasterCard-Visa, or

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Friday, June 3, 2011 1:31 pm
By Marcie Geffner · Bankrate.com

Your cellphone or your wallet? That’s a question credit card giant MasterCard Worldwide tried to answer in a recent survey of consumers’ attitudes toward using their cellphone to make payments for goods and services. The survey found that 62 percent of respondents who use a mobile phone said they’d be open to the idea of

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Thursday, June 2, 2011 3:13 pm
By Marcie Geffner · Bankrate.com

Not to be outdone by Google, electronic payments giant Visa has announced its “next generation of payments solutions,” saying in a statement that the new digital e-commerce, mobile and social networking options will be just as secure, reliable and easy as the current Visa point-of-sale payments, i.e., plastic in-your-wallet credit cards. The new services, to be

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Wednesday, June 1, 2011 3:03 pm
By Marcie Geffner · Bankrate.com

Google News. Google Maps. Google Docs. And now, Google Wallet? Yes, you read that right. The search engine giant has announced a new service that will turn a cellphone into a “wallet,” allowing consumers to forgo their credit cards and instead tap the phone to pay when they shop at bricks-and-mortar retailers and other merchants. The

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Tuesday, May 31, 2011 10:56 am
By Marcie Geffner · Bankrate.com

Would you like a mortgage with your credit card? The combination of the two consumer financial products in one business isn’t new, but the forthcoming team-up of the Discover Card and LendingTree Loans is. Riverwoods, Ill.-based Discover Financial Services, one of the larger U.S. credit card companies, has announced plans to acquire Home Loan Center,

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Thursday, May 26, 2011 3:20 pm
By Martha C. White · Bankrate.com

One of the requirements of the Credit Card Act implemented two years ago was that issuers of credit cards had to include a resource for customers who had trouble managing their finances. The National Foundation for Credit Counseling provided a toll-free number to be printed on credit card statements, which consumers can call to find

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Tuesday, May 24, 2011 1:00 pm
By Martha C. White · Bankrate.com

A local newspaper out of California reports yet another instance of thieves stealing credit card numbers by attaching a skimmer — a device that records credit card data — to gas pumps. Unsuspecting customers would swipe their credit or debit card, only to have the information recorded so it could be used to commit fraud.

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Thursday, May 19, 2011 3:12 pm
By Martha C. White · Bankrate.com

Does new credit data show a light at the end of the tunnel? Recent news coming from credit rating agencies, network providers and the country’s major credit card issuers show improvements in a variety of metrics. Moody’s Investors Service reported that charge-offs – the defaulted accounts credit card issuers write off as uncollectible – dropped in March.

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Wednesday, May 18, 2011 1:47 pm
By Martha C. White · Bankrate.com

A new study released by the Pew Charitable Trusts’ Pew Health Group found that credit card issuers are pitching business credit cards to ordinary consumers, a situation that leaves consumers vulnerable to predatory practices. The Credit CARD Act passed two years ago categorically excluded business credit cards, which means that actions like hair-trigger penalty APR

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