Late fees fluctuated between $5 and $10 in the mid-1980s when the credit card business was about to explode. Most of the ten largest issuers charged a 19.80% APR and a $15 to $18 annual fee. For credit card issuers the late fee was not a significant part of the revenue stream, as it was…
Card annual fees for general purpose credit cards, such as Visa and Mastercard, have been a fixture in the U.S. marketplace since their inception in the late 1960s. When CardTrak began tracking U.S. major credit cards in the 1980s, all of the top ten issuers offered the same pricing: a 19.8% annual interest rate and…
Americans shelled out less in nuisance credit card fees, such as late payment fees and high-fee credit card cash advances in 2018, due a strong economy. The net result is the credit card industry lost about $28 billion in credit card fee income last year. However, fees collected from merchants and shared with the four…
Business Platinum cards from American Express will soon gain access to workspaces, on-site support, amenities, expanded lounge privileges, plus earn more rewards and technology discounts next year. The $450 annual fee business card will also offer quick financing solutions for working capital and business loans. American Express Business Platinum Current Benefits • 5X Membership Rewards…
The Discover card has surpassed American Express as the nation’s fifth largest credit card issuer and is now the second fastest growing U.S. issuer, among the top six U.S. issuers, according to analysis by RAM Research. What is the driving force? For the fourth time in five years, Discover ranked highest for credit card customer…
If you are 62 or older it’s time to get off your rocker and grab a lifetime pass to 2,000 U.S. National Parks for $10 if purchased in-person or $20 online. Last December, Congress authorized the price increase for the pass, which is good for a lifetime for U.S. citizens and permanent residents 62 and…
New research reveals 87% of credit cardholders who asked for a late fee waiver were successful and 69% who requested a lower interest rate received one. The CreditCards.com report shows no more than 1 in 4 cardholders make any one of the requests; added together, only about half of consumers have made any request at…
People identify financial stability as an important trait because they know money – and how one manages it – impacts a relationship. People often enter relationships with different monetary goals and views. SunTrust Banks found that 41% of Americans consider financial stability to be among the traits they find most important in a partner, ranking…
Big banks made $8.4 Billion in overdraft fee income in the first three quarters of 2016, up nearly 4% from the same period in 2015. Since the beginning of 2015, all banks greater than $1 Billion in assets have been required to report fee data quarterly. Analysis by the U.S. PIRG Education Fund revealed…
