Score Killer

While a credit card delinquency can drop your credit score by 20 points, missing a car payment can send your credit score down by nearly 100 points. If the auto payment is late by 90 days or more it can lop-off another 25 points. The national average credit score for consumers with no late auto…

Gas Incentive

Starting July 2nd customers that sign-up for a new Shell Credit Card can earn 25 cents per gallon on the purchase of their first 100 gallons of Shell gasoline. Once cardholders have purchased 100 gallons, they will receive a $25 Shell gift card by mail. New account holders must use their “Shell Credit Card” to…

Positive Impact

There are only a few days left for American Express cardholders to submit ideas that would make a positive impact in the world. “The Member’s Project” which ends June 17th, enables cardholders to rate and discuss the project ideas on message boards and then ultimately vote and choose one innovative winning idea that AmEx will…

Well-Heeled Card

Bank of America has launched a premium credit card for its most affluent customers with at least $100,000 on deposit. The new “Bank of America Accolades American Express” card will be targeted at BofA’s clients served through Premier Banking & Investments, The Private Bank of Bank of America and its extension, Family Wealth Advisors. The…

Free Lunch

Use your VISA card at Burger King this summer and you may earn a free meal. For every 10 purchases made between now and August 31st a statement credit will be issued for the amount of a free meal on customers VISA card statement, up to $7.00. Under the “Fastest Way to a Free Meal”…

Bankruptcy Momentum

Bankruptcy filings have continued to surge this year running more than 60% over the year ago levels. Momentum exploded in May with approximately 83,000 filings compared to 62,500 in April and 74,000 in March. If the current pace holds it is likely the total filings for 2007 could approach one million. Also driving the momentum…

Card Debt

Consumer revolving credit edged down slightly in April following a sharp run-up in the prior month. Americans paid down about $400 million in April after tagging on nearly $7 billion in March. However, revolving consumer credit continues to hover at a record of nearly $888 billion. Based on revised figures, revolving debt rose 9.2% in…

Hopping Mad

Two major consumer groups have taken BofA to task asking the bank to simplify its fee structure, reduce fees, and eliminate fee-triggering practices, rather than merely improving disclosure. The consumer groups also want credit card fees to be limited to the bank’s real cost associated with those services and to eliminate or reduce penalty fees,…

FICO Tweaking

The renting out of credit card accounts by some individuals with solid credit to help others with weak credit artificially boost their credit scores has come under scrutiny. As a result, the nation’s leading credit score generator says it is adjusting its scoring formula to wipe out the impact of the practice. Under the scheme,…

Clear & Simple

Now you can earn a $10 credit when you sign-up for free alerts, auto-pay and online statements with Chase Card Services. The nation’s top credit card issuer has expanded its consumer education service via a new Web site. The new “Chase Clear & Simple” Web site also features 10 consumer-friendly initiatives. Among the 10 initiatives…