Cards & Change

A unique program has been launched that rounds up debit card transactions and funnels the difference to a savings account. The new Bank of America “Keep the Change” option will automatically round up the purchase to the nearest whole dollar and transfer the money from the customer’s checking account into their savings account at the…

Check-Out Pain

A new study shows that Americans are sick and tired of waiting in line at a checkout and are especially pained when someone pulls out a checkbook. The research revealed that using a debit card takes about one-third as much time as writing a check. The in-store research study by VISA USA and National Market…

Flexible GM Card

A new General Motors bank credit card will provide rewards that can be used on the purchase of any new vehicle regardless of the maker. The “GM Flexible Earnings Card” offers a full one percent on all credit card purchases, which are tripled if they are applied toward the purchase or lease of a new…

IN:LA CARD

American Express has launched its third city-centric credit card. The new “IN:LA Card” features the “INSIDE Rewards” program whereby cardholders earn one point for every dollar spent and double points on local purchases. “INSIDE Rewards” points can be redeemed for certificates for as little as 2,000 points at 60 Los Angeles establishments. The “IN:LA Card”…

Aug Bankruptcy

Personal bankruptcy petitions in August soared by nearly 24% from last year and were up about 15% from the prior month. It is expected that filings will remain high through the rest of this year as new bankruptcy laws will take full effect on October 17th. The August year-over-year increase was more than 30,000 filings.…

Score Savings

A new study has determined that a 30-point increase in a consumer’s credit score could save more than $16 billion in annual interest charges. The analysis found the most dramatic savings occur when the FICO credit score moves above 660. The average card account at 650 pays a 14.7% APR, versus 13.7% at 660 and…

Bills on Cards

Americans paid nearly $128 billion in household bills on credit and debit cards last year. The figure for this year, which includes insurance, rent, cable TV, home phone and mobile phone bills may top $161 billion, or about 26% higher than 2004. Americans also charged $22.5 billion to their credit and debit cards in quick…

Mio Cards

Two new prepaid general purpose payment cards have hit the market. The “Mio Money Prepaid MasterCard” and the instantly-issued “Mio Now STAR Card” offer safety and convenience, but at a price. Both cards offer online statements to track spending, a neat feature for parents who fund their kid’s “Mio” card. For safety, the MasterCard is…

Credit Score Knowledge

Americans are working their way up the learning curve on credit scoring. A new study has found that the proportion of consumers who understand that making payments on time influences credit scores rose from 87% in 2004 to 93% in 2005. The Opinion Research study for the Consumer Federation of American and Providian found that…

Silly MasterCard

A group that believes silliness is the comedic relief of middle aged life has launched their own credit card. The “Red Hat Society Platinum MasterCard” offers one “Fun Point” for each dollar spent in card purchases. Points are redeemable for travel, gift cards, Red Hat regalia and more. The card also gives “Red Hatters” and…