Dec. 12, 2012 weekly credit card news
Written by Ellen Cannon
Posted On: December 12, 2012
Credit card news is slowing down now, but we found a few stories of interest this week.
Using Square Wallet: First-person story
Square is in the news this week with its introduction of gift cards. Cardratings.com contributing writer Jennifer Goforth Gregory tested Square Wallet for us and reports on its ease of use - "I was impressed that I didn't even need the help of 'tween kids as I often do when it comes to my smartphone" - and also interviewed a few of her local merchants who are using Square Wallet so see both sides of the story.
CFPB employees answer survey
The Consumer Financial Protection Bureau issued its survey of 945 employees (698 responded) on their work, working conditions, management. Among the statements employees were asked to agree or disagree with as this: "Promotions in my unit are based on merit." Responses: 14.6 percent strongly agreed, 19.7 percent agreed and 17.3 percent "strongly disagreed." There were also fairly negative responses to questions about training, with many indicating that they were not getting adequate training to perform their jobs.
myFICO finds conservative holiday spending
Everyone's doing surveys right now. myFICO surveyed 2,400 consumers in November and found that one-third of respondents planned to cut back on their holiday spending this year, and only 20 percent will consider opening a new card. Continuing the conservative card-use trend, 80 percent said they would use less than 25 percent of their credit limit.
Discover tests on their employees
Becky Yerak at the Chicago Tribune wrote about Discover's test of paying by finger at the company's headquarters' cafeteria. She says 300 to 350 employees are going to be part of the test. Working with Natural Security, a French biometrics company, employees will record their index fingerprints and then get a key fob that will include their credit card information and their fingerprint. Discover expects this method to be more secure and faster for cardholders to make purchases.
Current Credit Card Rates from CardRatings.com as of Dec. 11, 2012
|
Type of card |
This week |
Last week |
|
0.20% |
0.20% |
|
|
19.59% |
19.59% |
|
|
14.50% |
14.50% |
|
|
16.33% |
16.33% |
|
|
16.70% |
16.70% |
|
|
16.10% |
16.10% |
|
|
16.15% |
16.15% |
|
|
15.41% |
15.41% |
Disclaimer: The information in this article is believed to be accurate as of the date it was written. Please keep in mind that credit card offers change frequently. Therefore, we can not guarantee the accuracy of the information in this article. Please verify all terms and conditions of any credit card prior to applying. Check our credit card database for updated terms and conditions.
This content is not provided or commissioned by American Express. Opinions expressed here are author’s alone, not those of American Express, and have not been reviewed, approved or otherwise endorsed by American Express. This site may be compensated through American Express Affiliate Program.
Disclaimer: This content is not provided or commissioned by Chase. Opinions expressed here are author’s alone, not those of Chase, and have not been reviewed, approved or otherwise endorsed by Chase. This site may be compensated through the Chase Affiliate Program.
Discover is a paid advertiser of this site.
Disclaimer: Reasonable efforts are made to maintain accurate information. See the Discover online credit card application for full terms and conditions on offers and rewards.
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