TransUnion: Credit card delinquencies hit 18-month low
A recent TransUnion report reveals that credit card delinquency has continued to drop in the second quarter of 2011, marking what now amounts to a year and a half of falling delinquency rates. Although delinquency rates have been dropping for the past six quarters, the improvement in the second quarter of 2011 was still unexpected [...]
Credit Scoring / Reporting, Credit Card Debt / Debt collection, Credit Card Delinquencies
American Express launches Mercedes-Benz affinity cards
American Express announced a new partnership with Mercedes-Benz that brings the luxury carmaker into its Membership Rewards program. In a statement to reporters, company officials announced both a credit card and a charge card that offer extra privileges for card members who make regular visits to their local Mercedes dealers.
Mercedes-Benz credit card from American Express
Rewards / Travel Cards, American Express, Chase Bank, Capital One
Experian: Credit card delinquencies drop below 2007 levels
Experian's latest report on credit card payments in 30 metropolitan statistical areas (MSAs) shows that all areas studied have improved in on-time credit card payments since 2007. However, the study shows that nationwide growth in mortgage delinquencies outweighs the improvements in card payments.
In terms of credit card payments, Cleveland, San Antonio and Cincinnati all improved [...]
Credit Card Delinquencies
EMV chip technology coming to a credit card near you
Starting this month, overseas business travelers who carry Citi corporate credit cards can breathe a little easier when making purchases. And back in the States, regular Joe consumers may soon find themselves inserting instead of swiping their credit cards. Both these changes are thanks to a burgeoning EMV chip technology, which is about to get [...]
Citi Bank, Wells Fargo, Visa, Chase Bank
US credit downgrade could raise credit card rates
A poor personal credit rating can have wide-ranging implications, from being passed over for a new job to qualifying for only high-interest card offers. As the United States endures its own credit rating decline, the impact on consumers could be just as diverse. One thing seems evident; credit card interest rates will rise.
Most credit cards [...]
Credit Card Interest Rates / Fees
Square card reader vulnerable to hack attack
Researchers at Aperture Labs, a security research firm in the UK, have demonstrated two ways to hack the Square payment system to use credit cards fraudulently, security holes they say could streamline cybercrime despite Square's assurances that they monitor all transactions for fraud.
Square is one of the latest credit card payment processing systems for iOS [...]
Testing / Technology
TransUnion: US credit card debt reaches 10-year low
Consumers made $72 billion more in credit card payments than they did purchases in 2009, according to a new consumer study from TransUnion, one of the three major credit bureaus in the United States. According to this recent report, which tracked consumer debt patterns between the first quarter of 2009 and the first quarter of [...]
Credit Card Debt / Debt collection
American Express announces tennis experiences tied to U.S. Open sponsorship
American Express plans to woo tennis fans this summer with help from superstar Chris Evert. In a statement to reporters, company officials announced the return of American Express's Next Contenders program. The program shares behind-the-scenes access to up-and-coming tennis players in the weeks leading up to the U.S. Open at Arthur Ashe Stadium. Chris Evert [...]
Gap widens between rates for rewards and non-rewards cards
The difference in interest rates between consumer non-rewards credit cards and rewards credit cards has increased over the course of July 2011, according to recent figures published by IndexCreditCards.com.
As of July 31, the average consumer credit card rate was 16.50 percent, up from 16.43 percent in mid-July. The interest rate on rewards credit card offers, [...]
Rewards / Travel Cards
Delta SkyMiles credit card adds early boarding perk
The Gold Delta SkyMiles® Credit Card from American Express adds a highly requested perk this month: priority boarding on all Delta flights. Delta and American Express officials announced the addition along with other updated benefits for their Platinum and Gold airline credit card beginning September 1, 2011. Once the new benefit rolls out to Delta's [...]
Credit Card Miles, American Express, Rewards / Travel Cards