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Credit Card News Archive

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According to USA Today, a newly-released Federal Reserve survey shows that 17 percent fewer student credit card accounts were opened through colleges and alumni associations 2010 than in 2009, a decrease attributed to changes implemented as a result of the 2009 Credit CARD Act. New laws resulting from the CARD Act have placed limits on how [...]
Discover Card edged past previous winner Bank of America in a prestigious industry survey of top-rated credit card websites. Discover Financial Services officials announced that their website earned the award for Best Overall Customer Experience in the 2011 Keynote Competitive Research Industry Study of U.S. credit card marketing websites. Researchers from Keynote Competitive Research studied [...]
American Express, JPMorgan Chase and Bank of America lead a pack of corporate donors throwing their weight behind a nationwide day of volunteer service observing the 10th anniversary of the 9/11 terrorist attacks. Organizers of the nonprofit 9/11 Day Observance coalition announced plans for events surrounding the federally recognized 9/11 Day of Service and Remembrance. In [...]
A new study conducted by Javelin Strategy & Research shows that while banks are good at handling credit card fraud once it has occurred, they could be doing more to protect their customers' information from hackers and to prevent identity theft. The study ranked America's largest banks on a scale out of 100: 45 points for [...]
MasterCard wants to treat cardholders to "priceless" experiences in New York and other cities around the world with the debut of a new loyalty program. Company officials told reporters they intended to launch a series of city-specific websites offering special access to special events and performances reserved exclusively for MasterCard customers. For its first featured [...]
The Nilson Report has recently released its annual figures for the top commercial and business credit cards of 2010. This list includes some of the largest banks in the U.S., as well as figures for their total numbers of accounts, credit cards, and their growth (or loss) compared to the same figures in 2009. J.P. Morgan [...]
Credit card agreements between banks and colleges declined in 2010, even though the number of lenders seeking access to college students and alumni grew slightly since 2009. Those details emerged from the Federal Reserve Board's annual report to Congress on the state of marketing relationships among universities, colleges, alumni associations, and banks. According to the Fed, [...]
Regions Bank announced the completion of a deal this week that will allow them to acquire a portfolio of its own branded credit cards valued at $1 billion from FIA, reports Forbes.com. The deal was signed on June 30 between Regions Bank, a unit of Regions Financial Corp., and FIA Card Services, a subsidiary of [...]
Categories: Credit Card Issuers
Credit card applicants can see their credit scores for free if a bank used that score to decline service, according to the Federal Reserve. The Federal Trade Commission and the Federal Reserve Board jointly announced their rules for implementing free credit score notifications under the the Dodd-Frank Wall Street Reform and Consumer [...]
The latest credit card theft scheme is a play on the usual phone call scam, with an interesting twist: thieves are attempting to catch unsuspecting cardholders unawares by waking them in the middle of the night in their hotel rooms and pretending to be hotel staff. Credit card thieves have developed a new scam for hotel [...]
Credit card deals have helped banks bounce back with a 35-percent bump in new accounts compared to last year, according to a new report from Equifax. Researchers at the national consumer credit bureau released the July edition of their monthly Credit Trend Report, drawing on data compiled from the credit profiles of nearly 600 million [...]
Business credit cards fuel the startup dreams of three in five women entrepreneurs, according to a new survey commissioned by PNC Bank. Between March and May, the regional bank's researchers asked 1,300 female company owners and senior decision makers to share their thoughts on the state of the American business climate. According to the survey [...]
The Federal Reserve split the difference in the debate over debit card transaction fees this week, setting a flexible interchange fee cap much higher than the hard limit retailers requested, although still significantly lower than current charges. The Fed's ruling sets a base maximum rate of 21 cents per transaction, plus up to 0.05 percent [...]
Bank of America celebrates its fifth consecutive year as the top bank for credit card safety, according to analysts at Javelin Strategy & Research. The think tank released its annual Card Issuer's Safety Scorecard, revealing lenders with the best track records for fighting identity theft and fixing fraudulent transactions. Topping the 2011 list: Bank of America Discover U.S. [...]
U.S. Bank is poised to release a new "dual interface" card that will facilitate simpler payments for American travelers everywhere in the world. On June 10, U.S. Bank announced its plan to offer customers the advanced US Bank FlexPerks Travel Rewards Visa card, in partnership with Oberthur Technologies and Visa. This new, high-tech credit card offers [...]
What's a low-income family to do when their credit card rates get hiked? Prepaid credit cards, once solely marketed to low-income consumers, have become trendy in a recovering economy where everyone is trying to tighten their purse strings. But along with their popularity come new fees and charges that will affect not only the wealthier consumers [...]
Chase's partnership with Internet retailer Amazon.com means good news for online bargain hunters. Both companies announced updates to the Amazon.com Rewards Visa Card that enable cardholders to easily earn and redeem reward points on the merchant's website. The "shop with points" function on Amazon's checkout pages now allows customers to pay for all or part of [...]
Rewards credit cards will help Americans preserve their vacation plans in spite of rising travel costs this summer, according to a new survey commissioned by Capital One. In the spring 2011 edition of the credit card issuer's quarterly Capital One Rewards Barometer, consumers revealed a new hunger for high value bonus and redemption options. Although more [...]
PNC Financial Services Group, Inc. has committed to buying the U.S. banks and credit card assets of Royal Bank of Canada, which will allow PNC to enter markets throughout the southeastern U.S. The deal is worth roughly $3.5 billion and will result in a loss of $1.6 billion for RBC this quarter, according to the [...]
Categories: Credit Card Issuers
Citigroup released new information about the May cyber attack, revealing on June 16 that the hackers accessed the information in over 360,000 North American Citi credit card holders - nearly 1.5 percent of its customers. Previously, Citi had originally announced that approximately 200,000 accounts were affected by the May 24 hack. Of the 360,083 accounts breached, [...]
Categories: Citi Bank
Music fans often wear wristbands to access concerts. MasterCard merged that tradition with its own vision of mobile technology at a spring festival in the United Kingdom this month. Guests of the VIP tent at the 2011 Isle of Wight Festival received special MasterCard wristbands featuring embedded PayPass chips like those in the company's credit [...]
Three in five Americans plan on keeping their summer vacations closer to home this year, according to a survey commissioned by Chase. The credit card issuer hired telephone pollsters at GMRS to ask 1,001 consumers about their summer spending habits. Americans' vacation scheduling habits haven't changed much since the same time last year, with roughly two [...]
Categories: Chase Bank
Cash back rewards have crept into credit card offers with the highest frequency since 2007, according to analysts at Mintel Comperemedia. Nearly one in four credit card solicitations sent between January and April of 2011 contained some kind of cash back offer, even on airline credit cards and other accounts that don't normally offer cash [...]
Categories: Cash Back
The new prepaid credit card from American Express breaks all the rules for reloadable cards by charging minimal fees to cardholders - a rarity in a credit niche that's known for hidden fees and charges. This new offer capitalizes on the rising popularity of prepaid accounts, but merchants may be footing the bill. Prepaid credit cards [...]
"Access to the Extraordinary" is the tag line of the new Ritz-Carlton Rewards Credit Card. Launched on June 9, 2011 by the Ritz-Carlton Hotel Company L.L.C. and J.P. Morgan Chase & Co., this premium rewards card is the first and only card to carry the Ritz-Carlton name, offering rewards specific to the hotel and its [...]
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