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Credit Card News Archive

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The largest remaining retailer-issued credit card may find itself on the auction block, according to news reports. Target announced that it intended to sell its consumer lending portfolio, including its distinctive Red Card store accounts and Red Card Visa credit card accounts. Company officials claim the sale would allow managers to focus more closely on store [...]
Categories: Credit Card Issuers
Chase debit cards saved taxpayers $1.4 million in administrative costs during 2010 while helping preserve the environment. According to officials at J.P. Morgan Chase, the U.S. Department of Health and Human Services hired the credit card issuer to streamline its employee mass transit reimbursement program. Under the umbrella of the General Services Administration's SmartPay 2 [...]
Categories: Chase Bank
After a positive response to the Discover Everyday Giveaway sweepstakes in 2010, the credit card issuer has announced plans to expand its daily contest through 2011. This year's million dollar grand prize goes to the lucky Discover cardholder whose name will be drawn in early 2012 from the list of all eligible entries made this [...]
Categories: Discover
Puerto Rico's biggest commercial bank will connect local merchants to global travelers, thanks to a new partnership with Discover Card. Banco Popular de Puerto Rico signed an agreement with Discover Financial Services to enable Discover Card acceptance at tens of thousands of merchants on the island.In a statement to CNBC.com, representatives from both companies cheered [...]
Categories: Discover
An upbeat holiday season and a positive start to the new year led American consumers to report the highest degree of economic confidence in three years. The Discover U.S. Spending Monitor surveyed 8,200 consumers throughout the month of January 2011. The credit card processor's consumer confidence index rose to 93.1 points at the close of [...]
Categories: Discover
American Express launched a new program this month to help the next generation of American consumers manage their money. Calling their new initiative "The Quarterlife Project," company officials expressed their desire to build on the success of the ZYNC Card, a new version of the classic American Express Card customized with rewards and special features [...]
Categories: American Express
Wells Fargo wants consumers to take the Money Map as seriously as the bathroom scale. Bank officials announced the launch of My Money Map, a free tool that helps account holders track their finances online. Dynamic charts track a customer's spending and saving activity against their budget goals using real-time updates from their checking and [...]
Categories: Other News,Wells Fargo
Hockey fans can use the Discover Card to score exclusive premium tickets to the NHL All-Star Game in January, according to company officials. The company's sponsorship agreement with the hockey league includes special experience rewards for cardholders, who can exchange their Cashback Bonus reward credits for: Premium tickets to the NHL All-Star Game on Jan. 30, [...]
Categories: Discover
Officials from Visa revealed plans to manage two tiers of interchange fees, bringing costs for its debit and credit card platform into compliance with new government regulations. Company representatives held conference calls and webinars early this month with banks and credit unions potentially affected by the change. The Dodd-Frank Wall Street Reform and Consumer Protection Act, [...]
Categories: Visa
Cyber criminals have branched beyond selling credit card numbers, according to researchers at Panda Security. In a statement to reporters, representatives from the company's PandaLabs unit revealed details of their latest investigation into the online black market for consumer information. Identity thieves rely on networks of anonymous bulletin boards and live chat sessions to trade [...]
A vendor claiming to eliminate consumer credit card debt has, itself, been eliminated from the debt relief industry by Federal Trade Commission investigators this month. According to an FTC statement dated Jan. 20, The Hermosa Group accepted a ban on offering debt relief services under terms of a settlement with the enforcement agency. FTC investigators [...]
Consumers have just started to grasp the reality of their holiday shopping sprees, according to the creators of the "Pay as You Settle" credit card debt resolution system. In a statement to reporters, officials from Prestige Financial Solutions cited the anxiety caused when Americans open up the first few credit card statements after year-end gift [...]
American Express officials announced more special experiences for AmEx cardmembers at this year's New York Fashion Week. Celebrating its eighth year of support for the CDFA/Vogue Fashion Fund for emerging designers, the credit card issuer will assemble a special runway show featuring the program's recent winning and finalist designers. Guests include Jason Wu, Prabal Gurung, [...]
Categories: American Express
The Credit CARD Act banned some of the most popular credit card marketing practices on campus, including prize giveaways and party sponsorships. Students under 21 can't get credit cards on their own, without the support of a co-signer, making impulse applications much less practical. Yet, some marketers have figured out loopholes in the system, enabling [...]
Categories: Student Credit
The latest online scam involving fraudulent credit card charges has been revealed by an unlikely source: the Food and Drug Administration. In a statement to reporters, FDA officials detailed the results of their investigation into cyber-criminals who falsely portray themselves as FDA inspectors assessing fines on individual consumers.In most cases, the scam starts when a [...]
Frequent Southwest Airlines flyers will soon have two options for their favorite airline credit card, according to officials at Chase. Southwest recently announced changes to its Rapid Rewards frequent flyer program that offer additional earning potential for business travelers. Chase announced similar changes to the credit cards it markets under Southwest's brand, splitting its offering [...]
CyberSource and NetSuite jointly unveiled an integration of the two companies' products that could significantly reduce online credit card fraud for e-commerce companies. In a statement to reporters, company officials touted the combination of NetSuite's online ordering and financial tracking services with CyberSource's fraud management solution. When implemented into a company's network, the technology can [...]
Employees could soon find it easier to participate in corporate wellness initiatives, thanks to a new MasterCard debit card from IntelliSpend. In a statement to reporters, IntelliSpend CEO Darryl Hutson announced that his company would make its MasterCard Wellness Prepaid Card available to corporate clients in the first quarter of 2011.According to MasterCard spokesperson Ron [...]
Categories: MasterCard
Six more credit unions have signed with Fifth Third Processing Solutions for ATM and debit card transactions, according to a Fifth Third spokesperson. All six credit unions gain access to the same debit card production and gateway access solutions enjoyed by larger financial institutions. The participating credit unions serve over 50,000 existing members: Citco Federal Credit [...]
Categories: Credit Card Issuers
As the American economy recovers from recession, researchers commissioned by American Express have discovered ways that companies have brought frugal spending habits back to corporate charge accounts. The latest edition of the American Express Business Insights report reveals that frequent flyers have returned to the skies in big numbers, but in [...]
Categories: American Express
Researchers commissioned by the Discover Card have tracked a substantial increase in the number of small business owners using social networking sites over the past three years, according to a new report. However, analysts warn, their relative lack of participation on Facebook, Twitter, and Foursquare could leave small business owners wondering [...]
Categories: Credit Card News
MasterCard expanded its footprint in the global prepaid debit card market this month when it acquired the Card Program Management operations of Travelex. Frequent business travelers recognize the Travelex brand from its successful currency conversion service bureaus in major airports and world capitals. The company pioneered the use of stored value debit cards to eliminate [...]
Categories: Other News
Federal regulators intend to extend consumer protection rules to high-value credit card transactions, according to a new Federal Reserve Board proposal. The Fed asked consumers to comment on two new policy changes that would update both Regulation Z and Regulation M, the federal rules that govern consumer lending and leasing activity.The new regulations raise the [...]
Categories: Credit Card News
American Express will phase out foreign transaction fees for U.S. consumer and small business Cardmembers who make international purchases with their Platinum or Centurion Card sometime in the first quarter of 2011, according to company officials. In a statement to reporters, spokesperson Ed Gilliagan said the move was an attempt to strengthen relationships with longtime [...]
Categories: American Express
Cast members from the hit Fox television series Glee joined forces with American Express cardmembers to add holiday cheer to the lives of Los Angeles area elementary schoolchildren during December. The credit card issuer surprised ten contest winners and their guests with the opportunity to volunteer alongside the TV stars during a special event held [...]
Categories: American Express
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