Fixed Card

The lowest on-going fixed interest rate for a bank credit card was launched this week. Capital One, which usually caters to sub-prime borrowers, offering credit limits as low as $300, is now offering a 4.99% fixed APR on its “Platinum MasterCard” to super-prime consumers, by invitation only. The interest rate will apply to new purchases…

May Card Debt

Consumer revolving credit growth continues to slow due to the apparent siphoning-off of credit card debt to home mortgage and equity loans. During May, Americans added $3.1 billion in revolving credit, mostly credit cards, compared to $3.3 billion one year ago. According to preliminary figures released this week by the Federal Reserve, revolving consumer credit…

Tuition Card Fees

The days of racking up free air miles and other points for using a credit card to charge college tuition may be limited. Colorado State University is now requiring students to pay a 2.9% convenience fee for using credit cards to pay tuition. The university indicated in April it was planning to cease accepting credit…

Do-Not-Call Registry

The number of telephone number registrations in the new “National Do Not Call Registry” has reached 19.8 million. Nine out of ten of the phones numbers registered were processed online. Only 11% were handled via telephone. The “Registry” was launched one week ago. On the first day, the Federal Trade Commission reported that seven million…

Weekend Matters

Time is running out on a summer promotion to pick up some easy cash and the chance to win $40,000. MasterCard’s “Weekend Matters Sweepstakes” is offering you $20 just for getting three of your friends or family members to enter to contest. Once you register your MasterCard, you will be eligible to win one of…

Do Not Call Registry

More than 13.6 million telephone numbers were registered over the weekend as part of the new “Do Not Call Registry.” The Federal Trade Commission reported that on Friday, seven million telephone numbers were logged into the system; Saturday the number slowed to 4.6 million; and Sunday the number was two million. The “National Do Not…

Card Delinquency

Based on total dollars past-due, credit card delinquency is holding steady compared to year-ago levels and has declined since the end of 2002. However, based on the number of accounts past-due, delinquency is up from 3.88% one year ago to 4.07%. In 2001, the first quarter delinquency rate, based on accounts past-due, was 2.99%. According…

Pocket Change Card

Those mean green coin counting machines in supermarkets nationwide may soon provide access to a prepaid MasterCard. A pilot has been launched in Houston and Las Vegas whereby consumers deposit coins or cash to a Coinstar machine, receive a printed receipt for the transaction, which includes an account activation number, and then contacts the card…

Uncarded Americans

All of the elements of a “cash-less society” are in place except for people. At least 50 million adults in the USA do not possess a credit card and nearly 10 million U.S. households do not have a bank account. A new study says this will create huge demand for prepaid debit cards in the…

Zero Offers

With today’s anticipated interest rate cut, some credit card issuers are already extending their rates beyond a full year. This month, Fleet Bank has unleashed a “Platinum VISA” with a 0% APR on purchases through September 2004. But, Fleet requires cardholders to transfer a balance of at least $100 to trigger the 0% rate for…