Credit Card News
Falling Credit Card Balances Boost American Express Revenues
Posted on - August 20, 2010Americans continue to spend less on credit cards, according to the most recent index supplied by Fitch Ratings. Based on the company's survey of credit card portfolio, consumers paid down over 19% of their monthly balances during June 2010. Rising from 17% in June 2009, the figure indicates that many households have stuck to their budgets, making similar payments every month against steadily declining balances. Read More
inControl Credit Card Alerts Heading to America
Posted on - August 19, 2010Today's topsy-turvy economy may have caused the unthinkable: consumers requesting credit cards that prevent them from spending money. A New York Times report suggests that MasterCard and Citigroup have teamed up for the United States launch of a personal finance product currently being tested in Europe. Read More
Credit Card Theft Surpassing Drug Investigations, Says DOJ
Posted on - August 18, 2010Law enforcement officials now spend more time tracking down identity thieves than drug dealers, according to recent figures provided by the U.S. Justice Department. Experts warn consumers to exhibit caution when using credit cards and debit cards, even during mundane transactions. Using a dedicated card when dining out can limit the potential damage caused by "card skimming teams" operating in restaurants and fast food establishments. Read More
New Credit Card Security Standards Coming This Fall
Posted on - August 17, 2010Tech experts in the banking sector can expect a busy winter after a new version of the financial industry's security standards become public this fall. Version 2.0 of the Payment Card Industry Data Security Standard will regulate how banks, hospitals, retailers, and any other business that processes credit and debit card transactions must handle sensitive customer information. Read More
Smartphones and Retina Scans to Replace Credit Cards at the Airport?
Posted on - August 16, 2010Your next credit card transaction won't need a credit card, if wireless phone companies and vending machine manufacturers get their way. Recent news reports have covered a variety of ideas for streamlining retail purchases, replacing magnetic stripe credit cards with registered cell phones, personal biometrics, or a combination of the two. Read More
Americans Owe More on Student Loans, Less on Credit Cards
Posted on - August 13, 2010American credit card holders cut back their balances again in June, but a slower drop than previous months suggests that consumers may be loosening their purse strings. According to a Federal Reserve report, outstanding credit card debt fell another $1.3 billion between May and June. The Fed also corrected a preliminary report on May's household debt, restating that month's decline to $5.3 billion. Since the end of 2008, consumer credit card debt has fallen 13.3%. Read More
Rabbit Teaches Kids to Build Savings Habits
Posted on - August 11, 2010American parents may have to thank a suspender-wearing rabbit for teaching their kids to sing and dance about saving money. The double-CD set, Sammy's Secret, Dream, and Discovery, includes nineteen songs and three voice adventures that help young listeners enhance their money management skills. Read More
California Expert Helps Kids Win the Money Game
Posted on - August 10, 2010Parents facing financial frustration after the recent recession have adopted new methods to teach their children how to build better relationships with money. In Santa Barbara, financial literacy expert Elisabeth Donati runs Camp Millionaire, a series of two-day and five-day day camp events designed to enhance students' understanding of how to both save and earn money. Read More
