Herb Card

Chase and Herbalife have teamed to offer a co-branded VISA card. The new “Herbalife VISA” offers two points for every dollar spent on Herbalife purchases and one point for every dollar spent on all other card purchases. Every time a cardholder accumulates 2,500 points, a $25 credit is automatically applied towards future purchases of Herbalife…

Corny Cards

Boston-based card manufacturer Arthur Blank has introduced a plastic card that uses corn, an annually renewable and domestically grown resource as an alternative to traditional petroleum-based plastic cards. “CornCard USA,” manufactured from NatureWorks, is available in nearly the entire line of Arthur Blank’s product offerings including: gift, loyalty, debit, membership, and ID cards. Arthur Blank…

PayPal Rules

eBay reported that PayPal had 96.2 million total accounts at the end of the fourth quarter, a 51% increase from one-year ago. Total payment volume rose 45% to a record $8.1 billion which includes payments initiated through the PayPal system but excludes its payment gateway business. The number of active accounts hit 28.1 million at…

SwipeLess Burgers

Mickey Dees is expanding the availability of contactless payments in 12,000 U.S. locations. McDonald’s USA is the latest national merchant partner to accept contactless “ExpressPay” from American Express. AmEx has been working with contactless payments since 2002. It is also the first issuer to launch contactless cards nationally with the rollout of “Blue from American…

Home Improvement Card

America’s favorite bathroom magazine has teamed with the nation’s largest credit card issuer to launch a home improvement credit card. The Reader’s Digest Association and Chase have launched the “Chase Home Improvement Rewards” card. Cardholders earn three points for every dollar spent on home improvement purchases and one point for every dollar spent on all…

Tardy Pain

Late fees on credit cards increased nearly 6% during 2005 to more than $34 with $39 emerging as the most common fee. Over the past five years late payment fees have jumped by more than 27%. In 1995, the average fee was $13.24 compared to $34.42 today. Most top issuers will assess a higher interest…

Bankruptcy Stampede

As expected, consumer bankruptcy filings hit a new record last year, rising nearly 32%, driven by the implementation of new bankruptcy laws. Over the past five years, a record 8.2 million Americans filed personal bankruptcy petitions. CA-based Lundquist Consulting released figures this week showing consumer bankruptcy filings for 2005 were 2,043,535, up from 1,552,967 in…

Blink That

The number of contactless “blink” cards has now climbed to six million nationwide. The latest markets for the revolutionary Chase credit cards are the Dallas-Fort Worth metroplex area and the greater Orlando area. Chase is issuing about 800,000 new credit cards with “blink” to Texas cardholders with an initial base of approximately 500 merchant locations…

Debt Softens

Revolving consumer credit continued to hover at the $800 billion mark in November, down a modest $900 million from the record set in September. Month-to-month, revolving consumer credit increased a mere $300 million. On an annual basis, revolving consumer credit grew at a 0.5% rate. According to data released by the Federal Reserve, total revolving…

Delinquent Cards

Credit card delinquencies, based on total dollars outstanding, dipped to its lowest level in more than ten years for a third quarter period. Sequentially, delinquent dollars rose a modest 14 basis points while the number of past-due credit card accounts edged down slightly by seven basis points from the record set in the second quarter.…