Credit Cards Blog

Thursday, February 24, 2011 1:36 pm
By Lucy Lazarony · Bankrate.com

Bank of America will be charging a new $59 annual fee to about 5 percent of its credit card accounts in May, according to an article by the Associated Press. Whether or not a Bank of America credit card customer will be charged the new annual fee depends on a customer’s credit risk profile, AP

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Wednesday, February 23, 2011 10:45 am
By Lucy Lazarony · Bankrate.com

The passage of the Credit CARD Act of 2009 has been good for credit card shoppers, according to a new study by the Center for Responsible Lending. The CARD Act has reversed much of the unclear pricing on credit cards and credit card offers now advertise rates much closer to the actual rates charged to

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Tuesday, February 22, 2011 4:01 pm
By Leslie McFadden · Bankrate.com

One year ago, many provisions of the Credit Card Accountability, Responsibility and Disclosure Act of 2009 took effect. In conjunction with a conference marking its anniversary today, the Consumer Financial Protection Bureau, the new consumer watchdog agency created by the Dodd-Frank Wall Street Reform and Consumer Protection Act, released a report on the impact of the

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Monday, February 21, 2011 9:00 am
By Leslie McFadden · Bankrate.com

Ever paid a fee to make a payment on one of your credit cards? In years past, card issuers could charge a fee for the payment method used by the consumer. The Credit CARD Act, short for the Credit Card Accountability, Responsibility and Disclosure Act of 2009, seemingly banned most pay-to-pay fees, whether the consumer

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Thursday, February 17, 2011 2:56 pm
By Lucy Lazarony · Bankrate.com

Getting a credit card may get tougher for stay-at-home moms. A proposed rule from the Federal Reserve Board could prevent a stay-at-home mom without independent income from being approved for a credit card in her own name. According to the proposed rule, credit card issuers must consider a person’s independent income rather than household income

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Tuesday, February 15, 2011 3:22 pm
By Lucy Lazarony · Bankrate.com

When it comes to consumer credit card debt, some cities and states have been hit much harder than others. A study from Equifax, a national credit reporting agency, reveals that the top 50 metropolitan statistical areas with the heaviest credit card debt burdens are clustered in six states: California, Texas, Florida, Ohio, North Carolina and

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Monday, February 14, 2011 2:15 pm
By Lucy Lazarony · Bankrate.com

Are you being honest with your spouse about your spending and your credit cards? A nationwide survey conducted by CESI Debt Solutions, a nonprofit organization dedicated to debt-free living, found that 80 percent of married couples spent secret money and more than 18 percent had a secret credit card. Does your significant other know about

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Thursday, February 10, 2011 2:57 pm
By Leslie McFadden · Bankrate.com

Carry a balance on your credit card? Some issuers are marketing new credit cards that offer rewards for paying down debt, Smartmoney.com reports. The article “Can Credit Cards Help You Manage Money?” highlights several cards that reward good payment behavior. Bonus for paying some, not all of the debt: TD Bank’s TD Payment Plus Credit Card

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Wednesday, February 9, 2011 4:00 pm
By Lucy Lazarony · Bankrate.com

Many Americans rang in the holidays by charging away on their credit cards. In December, credit card balances increased for the first time in more than two years, according to the Federal Reserve Consumer Credit Report. The report, released on Feb. 7, shows that revolving credit, which is mostly credit cards, increased $2.3 billion to

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Tuesday, February 8, 2011 3:07 pm
By Lucy Lazarony · Bankrate.com

Do you earn rewards each time you pay with a debit card? Better brace yourself for some changes. Cuts may be on the way to your bank’s debit card rewards program. A proposed cap on debit card interchange fees would seriously slash fee income for banks.  And card industry analysts expect banks to curb or

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