Archive for the ‘Credit Cards’ Category

Credit Card Defaults and Late Payments Drop with Top 6 Card Companies

May 16th, 2011 Ryan Parker No Comments »

Consumers have managed to lower their credit card defaults and late payments with the top six card companies in April, says a new report from The Associated Press. The report revealed that more card users are in control of their spending than they have been in some time.

Card Issuers See Improvement in Customer Payments

According to the report, card issuers saw major drops in defaults (balances considered uncollectible, or charge offs) and late payments in April:

  • Capital One Financial Corp.: Cap One reported a drop in defaults to 4.97 percent annualized, which is the biggest drop among the card issuers and is a level not seen since late 2007.
  • American Express Co.: Amex celebrated the lowest default rate, which was 3.5 percent. Th

Full Article

Share
Tags: Card Companies, Companies, Credit Card Defaults, Late Payments

Top 5 Weirdest Currencies in the World

May 13th, 2011 Ryan Parker No Comments »

Here at Creditnet, we try to guide consumers through the wild world of credit cards.  But this doesn’t mean we’re oblivious to the joy of having a stack of cold hard cash in your wallet.

That said, not all stacks of cash are created equal.  No, we’re not talking about exchange rates or any of that boring finance stuff.  We’re talking about all the wacky currencies that exist across the globe.

From beautiful to bizarre, the currencies of the world are as diverse as the cultures which produce them.  Take a look at the best of the best:

The Hong Kong 10 dollar bill looks like the inside of a kaleidoscope. It is said to be horse themed, but apart from a tiny fragmented silhouette of a horse, there are very few tangible depictions on the note. It may seem

Full Article

Share
Tags: World

Study: Late Fees Decline and Interest Rates Stabilize Due to Credit Card Act

May 12th, 2011 Ryan Parker No Comments »

A study released on Tuesday from the Pew Charitable Trusts says that credit card late payment fees have declined and interest rates have stabilized thanks to the credit card legislation. While the study notes that the changes occurred two years after the legislation was signed, this could mean the law has truly made an impact.

Credit Card Act Has Made a Difference

The study, which examined about 300 consumer credit cards offered via the internet by the 12 largest banks and credit unions from March 2010 to Jan. 2011, shows that a number of positive changes have occurred as a result of the Credit CARD Act.

One major change is that charges for late payments on U.S bank-issued cards decreased from a median of $39 to a range of $25 to $35. How

Full Article

Share
Tags: Card, Credit Card, Interest Rates

Squareup: A New Market for Credit?

May 8th, 2011 Ryan Parker No Comments »

NFC chip technology is a market with huge potential for growth as smartphones and other mobile devices begin to replace cash and plastic in consumers’ wallets. In fact, there are some stepping stone applications which are particularly noteworthy in the move toward mobile credit card authorization.

One company that can’t be overlooked is Squareup.com, or “Square” as it’s commonly called. Founded by Twitter co-founder Jack Dorsey, Square is nothing more than a shift away from the traditional use of credit card authorization terminals.

Traditionally, credit card merchant services have been set aside for business-only transactions with a hard-wired connection. But what about the guy who runs a taco stand? What about if you want to split the tab on your dinner at Applebee’s with a couple of friends? Square has n

Full Article

Share
Tags: Market, Market Credit

May the 4th Be With You: Best Star Wars Stuff Money Can Buy

May 4th, 2011 Ryan Parker No Comments »

Jedi fans will be roaming college campuses and city streets tomorrow wielding lightsabers and sporting their most authentic costumes in celebration of the unofficial Star Wars Day, May 4th.

Stemming from a play on one of the film’s most popular quotes, “May the Force be with you”, fans worldwide have twisted the phrase into “May the 4th be with you” and set aside this day to honor all things Star Wars. So don’t be alarmed if you see people speaking weird guttural languages to each other, trying to open their car doors using the Force, or acting like their arm just got cut off in a lightsaber duel. It’s all part of the fun.

For a true Star Wars fan, however, the celebration lasts longer than a single day.  You may have

Full Article

Share
Tags: May 4th, Star Wars, Wars

The Misconceptions of Prepaid Cards

April 29th, 2011 Ryan Parker No Comments »

Let’s face it, the credit industry is complex and confusing. Hundreds of credit cards offer different ratios for miles, points, percentages of cash back, and other rewards. And now that we’ve gone through a roller coaster of a recession, getting approved for these cards may seem impossible for many of us.

I work daily with clients who want and need the use of a credit card. As many of their financial situations have been pummeled, rebuilding credit is the first step they must take. One of the most common misconceptions about credit that I encounter centers around three words: prepaid credit cards.

What Are Prepaid Credit Cards? The name implies similar use and benefits of any credit card, the only distinction being that you “prepaid” the balance. While t

Full Article

Share
Tags: Cards, Prepaid Cards

Credit Card Penalties May Jump to 30 Percent for Bank of America Customers

April 27th, 2011 Ryan Parker No Comments »

Customers of Bank of America Corp. may experience a massive increase in credit card penalties, according to an announcement made by a company spokeswoman on Tuesday. The spokesperson said the major card issuer plans to hike penalty interest rates to as much as 30 percent for customers who miss payments in the coming months.

Bank Increases Penalty Rate to Compensate for Lost Revenue

In order to compensate for a large decline in revenue so far in 2011, Bank of America is making changes that could have a huge effect on its customers. Starting June 25, the bank will begin charging a penalty rate of as much as 29.9 percent for customers who make late payments on their credit card balances, the company spokeswoman recently confirmed.

The bank reportedly saw a decline in revenue to $5.6 billion in the first quarter of 2011. Th

Full Article

Share
Tags: Card Penalties, Credit Card, Credit Card Penalties, Customers
Page 6 of 38« First...45678...2030...Last »
Sample banner 250x250