Card Looks

Americans associate the “color” of credit card with its “value” and they like to select a “design” for their cards. However, more than 60% of consumers say they do not want a “personalized” card that might include their picture or a picture of their pet or car. According to a CardWeb.com homepage poll, 55% of…

OneSMART Card

With more than ten million smart credit cards now issued in the USA by VISA and American Express, MasterCard has decided to make a bigger push to advance the domestic smart card migration. This week MasterCard launched the OneSMART MasterCard program, which consolidates all of MasterCard’s global smart card solutions, technical expertise, and marketing support…

Debt Sputter

During the first sixty days of this year, Americans added $2 billion to revolving debt, compared to $18 billion during the same period in 2001. The downtrend began in July 2001, after consumer revolving credit topped the $700 billion milestone. The sharpest decline took place in the month after the terrorists attacks when revolving debt…

Financial Literacy

The overwhelming majority of American parents rate money management skills as “very important” for the children in comparison to other school classes. According to a national survey released this week by VISA U.S.A., 92% of parents across the U.S. believe students should be required to take a class in practical money skills. The survey also…

SkyPass VISA

The first credit card introduced in the U.S. market by an Asian carrier was launched this week. U.S. Bank and Korean Air unveiled the new co-branded SkyPass VISA which offers redemption options on Korean Air, KAL, AeroMexico, AirFrance, Delta, Czech Airlines and Alitalia. U.S. Bank will issue four versions of the SKYPASS VISA card: Secured,…

Card Smarts

Most teenagers plan to get a credit card before they get their first real job. A new survey shows that 58% of teens plan to get their first credit card before they graduate from college, but more than half may not understand how credit cards work. The survey, conducted by the National Consumers League, found…

Lucky Discover

If you’re a serious shopper then you might want to check out the VIP tent coming to a shopping mall near you. The Discover Card is launching a national tour this week to promote shopping and a new sweepstakes. The Discover Card Shops America with Lucky Magazine will include a 12-city national tour and a…

Teen Card

As teen payment cards struggle to catch on, Citibank this week launched a prepaid MasterCard aimed at students between 13 and 18 years of age. The Citi Cash Card for Students will carry a $25 annual fee and a $1.50 per transaction load-fee. However, the load fees will be waived if a Citibank debit or…

IRS Probe

If you’ve been hiding income in a tax haven country and using a credit card to access the funds you could be in big trouble. The Internal Revenue Service is reviewing hundreds of thousands of such accounts and may be sending some tax cheats to jail. The IRS confirmed this week it has already received…

Debt Counseling

A three-year study on the change in consumer financial behavior after receiving credit counseling services, revealed that consumer credit usage and payment behavior were impacted in a positive way from such counseling. The analysis of 14,000 consumers examined ten different measures of borrower behavior subsequent to counseling and found that borrowers who received this form…