Credit Card News
FTC Forces Changes to LifeLock's Identity Theft Prevention Marketing
Posted on - March 17, 2010Putting the CEO's Social Security number on billboards and on the radio wasn't enough to convince the Federal Trade Commission that LifeLock prevents identity theft. In fact, Richard Todd Davis' own run-ins with fraudsters helped spur the FTC complaint which LifeLock agreed to settle this month for $12 million. Read More
American Express Takes Members Project to Social Media
Posted on - March 16, 2010Officials at American Express announced the return of the Members Project, a popular outreach program that raised both money and awareness during its two previous cycles. For the third Members Project, American Express teamed up with social action network Take Part. In statements to reporters, project leaders expressed excitement about the initiative's shift from an annual fundraising event to an ongoing hub for cardmember community activism. Read More
Fed Proposes Caps on Credit Card Late Fees, Overlimit Penalties
Posted on - March 15, 2010The third and final wave of new credit card regulations covered by the Credit CARD Act take effect this August, and the Federal Reserve recently released draft proposals to clarify pending limits on rates and fees. The Fed's new rules would cap overlimit penalty fees to the amount of the overage. Likewise, card issuers could only issue late payment fees for the amount of a missed minimum payment. Read More
Hotel Restaurants Top Credit Card Hackers' Hotspots
Posted on - March 12, 2010Threats from hotel valet parking services elevated from dings on bumpers to dings on credit reports, after a major Los Angeles landmark revealed that its own front driveway was the epicenter of a massive identity theft operation. Representatives from The Westin Bonaventure Hotel & Suites told reporters this month that credit card terminals at its valet parking operation and at four of its on-property restaurants had been affected by a possible data security breach. Read More
American Express OPEN Savings Sponsors Free In-Flight Wi-Fi on AirTran
Posted on - March 11, 2010American Express' efforts to capture a larger share of the small business purchasing market have taken to the skies. American Express OPEN Savings now includes a five percent discount on AirTran Airways tickets when purchased directly from the carrier. AirTran and AmEx announced plants to celebrate their new partnership by sponsoring free Wi-Fi Internet access on all wireless-enabled flights between March 13 and March 27.American Express spokesperson Kirk Fitzsimmons told reporters that OPEN Savings discounts process automatically with merchants at time of checkout, with no required coupon codes or special logins. "With this new partnership, small businesses can reduce their airline expenses just by using their American Express Business Card." Read More
Chase Freedom Rewards Cardholders with More Bonus Cash Back Starting March 31
Posted on - March 10, 2010Chase Freedom credit card holders will soon enjoy new cash back rewards that buck the industry trend of disappearing perks and rising fees. All purchases made on Chase Freedom cards qualify for a minimum cash rebate of 1%, regardless of spending patterns or previous program reward levels. Starting March 31, seasonal promotions can qualify many common purchases for bonus rebates of up to 5%. Read More
Chase to Offer Hyatt Gold Passport Visa Credit Card
Posted on - March 9, 2010Hyatt answered the pleas of travel reward aficionados with its announcement of a new, co-branded credit card in partnership with Chase. Hyatt has been, to some observers, strangely absent from the pool of reward credit cards for the past few decades. Online searches for information about Hyatt Gold Passport credit cards often turn up little more than bulletin board postings from puzzled fans of the storied hotel chain.In statements to reporters, Hyatt officials admitted taking time to select credit card partners. "We chose to align with Chase and Visa because they share our commitment to quality and customer service," said Hyatt spokesperson John Wallis. Likewise, Chase officials expressed enthusiasm for the alliance. "Creating a Hyatt-branded card delivers on Chase's strategy of associating with the world's best brands," said Chase Card Services spokesperson Valerie Greer. Like other travel reward cards, the Hyatt Gold Passport Visa Credit Card will allow cardholders to earn points for everyday purchases while enjoying bonus earning opportunities at participating Hyatt properties. Officials promised to post more details about the new offering to company websites closer to the card's formal launch. Read More
Mixtape Motif Wins Discover Student Credit Card Design Content
Posted on - March 9, 2010With new banking regulations making it harder for lenders to market student credit cards, Discover has turned to the web for help. In February, company officials announced the winners of Discover's first ever social media student credit card design contest. Winning artist Rainna Langley earned a $1,000 prize for her re-imagining of a Discover student credit card as a classic cassette mixtape. Read More
