Credit Cards Blog

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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Tuesday, September 7, 2010 2:32 pm
By Leslie McFadden · Bankrate.com

It’s a bad time to have bad credit. A quarterly survey of bank risk professionals released today from FICO reveals that while 73 percent of respondents expect the volume of credit applications to increase or stay flat over the next six months, 46 percent think approval criteria will get stricter and 38 percent believe the

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Friday, September 3, 2010 2:14 pm
By Leslie McFadden · Bankrate.com

You might be aware that your credit card can get declined if you travel overseas, but did you know it could get declined out of state? Certain changes in behavior can set off fraud controls set up by the card issuer. Every swipe of your credit card transmits data to the issuing bank, such as

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Thursday, September 2, 2010 2:48 pm
By Leslie McFadden · Bankrate.com

Have you ever been told by your bank during a branch visit that you’ve been preapproved for a credit card? How about while paying for a purchase at a retail store? In the future, even consumers that have no credit file at the major credit reporting agencies may receive such offers for credit cards. Those

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Monday, August 30, 2010 1:41 pm
By Leslie McFadden · Bankrate.com

Watch out for “professional” credit card offers, an article in The Wall Street Journal warned over the weekend. The WSJ reported that card issuers have recently ramped up their marketing of corporate and business credit cards to consumers. Some 47 million professional card offers were mailed in the first quarter of 2010, an increase of

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Thursday, August 26, 2010 10:31 am
By Leslie McFadden · Bankrate.com

A small myFICO survey of parents with college-age children reveals that while a whopping 82 percent of parents say they’ve talked to their kids about the importance of credit, nearly half  are uninformed about a restriction in the Credit CARD Act that makes it harder for adults under the age of 21 to get a credit card.

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