Posts Tagged ‘Credit Card’

Google Wallet Application Lets Phone Act as Credit Card

May 31st, 2011 Ryan Parker No Comments »

Google announced in a news conference on Thursday its release of a new application that will allow Android smartphones to act as credit cards. The application is called Google Wallet and will integrate credit or debit cards, loyalty cards, gift cards and others into a single application.

How Google Wallet Will Work

According to Google, the application will only work with Android phones from Sprint Nextel that have wireless chips built into them for tap-and-pay. The phones with the near-field-communications (NFC) chips built into them will have a special sticker on them. Older

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Tags: Card, Credit Card, Google Wallet

Ask Creditnet: Corporate Credit Card in Collections

May 27th, 2011 Ryan Parker No Comments »

Dear Creditnet: I’m currently receiving collection notices from American Express for an unpaid balance on an old corporate credit card. I left the company where I had this card in late 2011.

I have combed through all my Amex bills, corporate expense reports and reimbursements, but I’ve been unable to find any unpaid charges on the card.

In addition, because the card was in my name and I incurred all the charges, my former employer takes no responsibility for the unpaid balance even though the charges were made solely for work purposes.

Will this affect my personal credit? What should I do now?

Answer: This is a difficult situation, but it’s not one that American Express is unaccustomed to handling. Belie

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Tags: Card, Corporate Credit, Corporate Credit Card, Credit Card

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

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Tags: Card, Credit Card, Interest Rates

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

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Tags: Card Penalties, Credit Card, Credit Card Penalties, Customers

Online Application | New York Mets® Extra Bases® Credit Card

April 17th, 2011 Sara Turner No Comments »

The New York Mets® team logo can now be featured on the Major League Baseball™ Extra Bases™ Credit Card issued by Bank of America.  (www.metscreditcard.com ).   This rewards credit card is scoring big with avid baseball fans and credit card consumers across the country.  Like many department stores, colleges and airlines have done for decades, Major League Baseball™ teams are now being displayed on consumer credit cards.  These sports oriented rewards credit cards — a great way for fans to express their undying team loyalty –  are proving to be a home run in the credit card industry. Full Article

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Tags: Card, Credit Card, New York Mets®, York Mets®

How the Credit CARD Act Helps You

April 14th, 2011 Ryan Parker No Comments »

In an effort to create greater transparency between customers and credit card companies, the Credit Card Accountability, Responsibility and Disclosure Act of 2009 (CARD) introduces consumer-friendly litigation that regulates how banks control credit card fees. Notably, the new law standardizes how a bank can increase interest rates, change introductory offers and delinquent payments.

The CARD Act of 2009 says that credit card lenders no longer have the ability to blindside customers with credit card interest rate increases. Banks can’t increase rates within the first year of the account, and after this grace period, any interest rate increases must include 45 days notice to the card holder about any new changes or fees. A

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Tags: Act, Credit Card

Bank and Credit Card Issuers Warn Customers of Epsilon E-Mail Breach

April 5th, 2011 Ryan Parker No Comments »

Banks and credit card issuers are warning customers that millions of e-mail addresses were possibly stolen from an advertising company last week. As a result, customers could receive fraudulent e-mails that attempt to coax their account login information from them.

Major Banks Affected by the Theft

A number of major banks and financial institutions say customers may begin seeing e-mails that try to trick them into providing login information for their bank accounts and credit cards due to a security breach at a Dallas-based e-mail management company called Epsilon.

Some banks that could have been affected by the breach include Barclays Bank, Capital One Financial Corp. U.S. Bancorp and Citigroup Inc. and JPMorgan Chase & Co.

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Tags: Card Issuers, Credit Card, Credit Card Issuers, Customers

Types of Credit Card Debt

March 13th, 2011 Sara Turner No Comments »

When it comes to credit cards, you must be very careful. Because credit cards are convenient and widely accepted, and the problems of the head can quickly become a problem for even the most cautious consumers. At no time can you find the need for help in credit card debt. If that’s the case there are a number of options available to you, then take a moment to get an idea of what types of credit card debt help could be better for you.

Credit Card Balance Transfers You can find that the credit card company offers you a credit card at an annual rate equal to the other cards already existing balances. For example, you have two cards in May with an interest rate of 17.5 per cent and 19 per cent, and May each had a balance of $ 1200. A

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Tags: Card, Credit Card
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