Authors

Curtis Arnold
Curtis Arnold, Editor-in-Chief
Joe Taylor
Joe Taylor Jr., Reporter
Amber Stubbs
Amber Stubbs, Managing Editor

Credit Card News Archive

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American consumers pay about 2 percentage points less on credit card finance charges than before the enactment of the Credit CARD Act, according to a report issued by the Consumer Financial Protection Bureau. In a statement to reporters, CFPB officials expressed continued concern about bank disclosures, "fee harvester" credit cards for bad credit, and add-on [...]
Categories: Other News
As the nation headed toward its own brush with its federal debt ceiling, relatively few Americans faced default on their personal credit cards. According to data released by S&P Dow Jones Indices and Experian, national credit card default rates rose only slightly during September. 3.14 percent of bank card balances fell into default status during [...]
Categories: Other News
Families visiting this fall's Epcot International Food & Wine Festival will enjoy extra benefits when they carry a Chase debit or credit card. Between visits to more than 25 marketplaces, Chase cardholders can treat their parties to a pit stop at an exclusive lounge in the American Adventure Pavilion. There, guests can enjoy complimentary beverages [...]
Categories: Chase Bank
With Americans spending four out of every five dollars without cash, the United States approaches a tipping point toward a "cashless society." That finding comes from a MasterCard Advisors report that reviews how 33 of the world's major economic regions have transitioned from cash-based to cashless economies. Researchers discovered that consumers in Belgium, France and Canada [...]
Categories: Other News
Discover recently earned kudos for acting on customer concerns, both at its call centers and on social media. For the fourth year in a row, the International Quality & Productivity Center gave Discover a Call Center Excellence Award for Best Performance Acting on the Voice of the Customer and Voice of the Social Customer. The [...]
Categories: Discover
Victims of a fraudulent credit card interest rate reduction operation have started receiving refund checks after a three-year wait, according to Federal Trade Commission officials. Operators of JPM Accelerated Services settled with the FTC in 2010 after investigators alleged that the telemarketing firm failed to deliver on promises of credit card balance transfer deals and [...]
Categories: Other News
Barclaycard continues its North American expansion this fall with the announcement of an expansion to its operations center in Wilton, Maine. "This is another step in our journey to enhance our customer experience," Patrick Wright, Barclaycard US chief operating officer, said in a written statement. After years of proving white-label support for branded retail and airline credit [...]
Categories: Other News
As summer winds down, Americans have braced themselves for some economic turbulence, according to a pair of consumer financial indices. More than half the respondents in Discover's poll of more than 8,000 consumers said they expect the economy to worsen over the coming months. That figure arrives on the heels of an Equifax report that [...]
Categories: Other News
Boosted by an improving economy and pent-up wanderlust, American tourists plan on spending up to 40 percent more on their next international trips. This figure comes from the Global Travel Intentions Study 2013, commissioned by Visa, which also reports that 81 percent of U.S. travelers prefer to use credit cards when traveling overseas. Mexico and [...]
Categories: Visa
Fewer than two-thirds of American consumers fully understand the perks and benefits associated with their current credit cards, according to a study by consumer satisfaction researchers at J.D. Power. The agency's seventh annual U.S. Credit Card Satisfaction Study revealed improvements in customer service during a period when fewer Americans might have reasons to request late [...]
Categories: Other News
Editor's Note: Thank you for your interest, these offers expired and are no longer available. To celebrate Citi’s new program of special events for Citi ThankYou cardholders, the company is hosting Jerry Seinfeld in concert on Sept. 26 at the Time Warner Center in New York City, in conjunction with Carolines on Broadway. Cardholders can begin [...]
Categories: Citi Bank
Bankers call it a "windfall" for retailers, while merchants call it a chance to set "wrongs right." Either way, a late July decision by U.S. District Judge Richard Leon could impact consumers who use traditional bank accounts with linked debit cards. Judge Leon struck down a Federal Reserve rule that capped debit card processing fees [...]
Categories: Credit Card Law
American Express notified users of its Serve prepaid debit card of some upcoming changes that may limit functionality for some cardholders, while bringing the service more in line with its other free debit card services. According to an e-mail sent to existing cardholders, Serve accounts will soon restrict funding sources to a total of three [...]
Categories: American Express
Nearly twice as many Americans call the economy "good" or "excellent" compared to a year ago, according to new research commissioned by Discover Financial Services. In a telephone survey of 8,200 adults, independent researchers from Rasmussen Reports tracked an 11 percentage point gain in the number of respondents who give their highest marks to the [...]
Categories: Discover
One of America's top corporate law firms warned credit card issuers about potential consumer fallout from regulatory actions aimed at third-party debt collectors. According to a bulletin distributed by Ballard Spahr LLP, a series of communications from the Consumer Financial Protection Bureau signal a "major focus" on enforcing rules set forth in the Dodd-Frank Act. [...]
Major League Baseball mascots Mr. Met and the Phillie Phanatic joined sitcom star Eric Stonestreet in a new series of television ads highlighting MasterCard's "Dig In and Do Good" charity campaign. The payment platform operator has earmarked up to $4 million in donations for Stand Up To Cancer (SU2C), an entertainment community initiative that encourages [...]
Categories: MasterCard
In Barclaycard Ring's first year on the market, the experimental low-interest credit card gained about 10,000 new customers, but failed to achieve an expected return to shareholders. Barclaycard officials posted statistics on Ring's launch to the program's official blog in June, in the form of an annual report tracking the card's performance during the first [...]
Categories: Credit Card Issuers
Capital One's latest survey of small business owners has revealed that most entrepreneurs feel optimistic about the future of their local communities, even if they believe the nation's economy hasn't yet fully rebounded. According to Capital One's second quarter 2013 Spark Small Business Barometer, 45 percent of respondents told researchers that they felt optimistic about [...]
Capital One upped the ante in the competitive cash back credit card market with the launch of its Quicksilver brand this summer. In a statement to reporters, Capital One spokesman Mike Wassmer cited research that indicated consumer frustration with opt-in bonus promotions and complex reward structures. The new line of credit cards offers a consistent, 1.5 [...]
Federal investigators widened the hunt for companies suspected of scamming consumers with promises of credit card rate reduction services. According to officials at the Federal Trade Commission, eight more defendants have joined the original list of seven alleged fraudsters accused of using robocalls to sign up new members for a program called "Treasure Your Success." In [...]
Categories: MasterCard
Nearly half of American rewards credit card holders prefer travel deals to brand loyalty, according to a recent survey commissioned by Capital One. According to the Capital One Rewards Barometer, 45 percent of the survey's respondents make plans after picking a destination instead of waiting for prompts from an airline or hotel loyalty program. Additionally, [...]
Categories: Capital One
Two of America's biggest credit card issuers recently announced major plans to invest in economic progress by helping families secure jobs, housing, and education. Capital One invests in poverty-fighting partnership Capital One's commitment of $1 million in funding and in-kind donations will help support LIFT's economic advocacy programs in Chicago, Washington DC, New York, Philadelphia, Boston, and [...]
Categories: Capital One
A proposal to update telemarketing regulations could restrict most "business-to-consumer" transactions to credit cards or mailed payments. In a statement to reporters, Federal Trade Commission officials announced their intentions to amend the Telemarketing Sales Rule so it forbids telemarketers from using remote checking account withdrawals or money transfers as forms of payment. FTC investigators reported that [...]
Categories: Credit Card Law
The last-minute collapse of a legal settlement between retailers and payment platform operators could set the stage for a new showdown over credit card processing fees. Shortly before the Memorial Day weekend, a group of major retailers opted out of the antitrust settlement first proposed by Visa and MasterCard during the summer of 2012. In [...]
Categories: Visa
New leaders will help the retail and banking industries adopt stricter credit card security tools, with the recent election of officers to the EMV Migration Forum Steering Committee. The four member committee oversees the efforts of more than 100 major American companies with the goal of adopting payment technology that has already become standard in [...]
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