Lenticular Card

A new credit card design has hit the market which appears to have moving images. The new lenticular credit card is being issued by North Carolina-based Lowe’s Home Improvement Warehouse. The Lowe’s NASCAR credit card, shaped like a biconvex lens, features NASCAR Winston Cup action with moving images of Lowe’s race cars and drivers. Applicants…

Online Payments

About one third of cardholders who surf the Internet have paid their credit card bill online. This week, Discover launched a sweepstakes to encourage more cardholders to click and pay their account online. Until May 31, cardholders who register and pay their Discover Card bills online using the SmartCheck payment option will automatically be entered…

Minimum Payments

Among the 60% of American cardholders who do not pay off their credit card balance each month, nearly half made just the minimum payment due last month. This means that about one out of four cardholders in the USA now make minimum payments. According to a recent survey conducted by International Communications Research for the…

Net 1st Dies

The worst credit card in America is dead . . . for now. The Net 1st MasterCard, issued to new “credit-challenged” cardholders with a $500 balance and a $500 credit limit, bit the dust as banking regulators shut down the issuer, Florida-based Net First National Bank. The Office of the Comptroller of the Currency closed…

On Target

Target’s new smart VISA card has gone from zip to 2.5 million cardholders in less than five months, becoming the third largest issuer of smart credit cards in the USA, just behind American Express and Providian. Since the launch of the VISA program in September, Target has generated $1.5 billion in VISA card loans, and…

Fee Climb

Average late payment fees on credit cards will climb by 3% this month, the largest one month jump in the industry’s history, as more issuers raise fees above the $29 level. U.S Bank recently joined the trend in the wake of fee increases by MBNA and Discover, which went into effect this month. U.S. Bank…

Rate Range

Interest rates on bank credit cards have widened as a result of the eleven rate cuts by the Feds last year. Card rates, after the introductory periods, now range from 4.75% to 35.00%, the widest spread ever. Chase offers the lowest rate on its ‘Prime Card’ at 4.75%, while CompuCredit charges a 35% rate for…

Card Crams

It’s bad enough getting a telemarketing call from your credit card company just as you sit down to a nice, hot, steak dinner. However what really drives you nuts is being charged for products and services offered by the telemarketers, that you did not knowingly agree to purchase. This week Citibank signed an agreement with…

Fraud Alerts

Consumers are getting access to more weapons to fight credit card fraud. Online access to current account information is a big plus, but before long, cardholders may receive notices of suspicious card activity via their mobile phone or PDA. This week Toronto-based 724 Solutions and HNC Software have agreed to integrate their software to offer…

TV Applications

Australians are doing it, and you may be able to do it in the USA soon. MasterCard and Australian telecommunications giant Optus created an ad campaign using a two-way TV platform that enabled viewers to click on a MasterCard TV commercial to enter a sweepstakes. The development may enable credit card issuers to link up…