Convenience Drives Cards

Nearly half of Americans say they prefer to write fewer checks while more than 50% say they prefer not to carry cash around. Therefore consumers are using their credit and charge cards more than ever to charge everything from property taxes to groceries to postage stamps. According to the latest American Express ‘Everyday Spending’ Index,…

Bankruptcy Diminishes

Even though Congress continues to reconcile differences in the bankruptcy reform legislation recently passed by the House and Senate, the bankruptcy landscape is changing. According to CardData (www.carddata.com), the percentage of gross credit chargeoffs associated with bankruptcy has been steadily declining for the past eight months, from a high of 42.3% in June to 38.9%…

Fleet Super Card

A super-duper business card is hitting the market this month. MasterCard, AmSouth Bank and Comdata Corp. have teamed up to deliver a new fleet card that combines credit, debit and purchasing card capabilities. The new card eliminates the need for separate vehicle and purchasing charge cards. It is also the first U.S. credit card with…

New Reward Partners

The American Express rewards program is getting bigger and better. Yesterday American Express announced its Membership Rewards partner lineup for 2000 will include a number of new retail and travel partners. New retail partners include Bergdorf Goodman, Brooks Brothers, Callaway Golf, Country Road, Oreck, Richard Petty Driving Experience, THE RIGHT START and Swiss Army Brands.…

Card Hacking

Using credit cards on the Internet is at least as safe as using them in the real world, but it is not bulletproof. A Buffalo, New York-based Internet service is the latest victim of hackers seeking to steal credit card numbers. Internet Management Services confirmed last week that approximately 2,000 consumer records, which contained personal…

VISA Millionaire

Millionaires are popping up everywhere. Last week VISA and AOL made a San Francisco Bay Area woman the latest millionaire. America Online and VISA awarded one million dollars to Franza Giffen Newsom as the lucky winner of the AOL and VISA ‘You’ve Got a Million’ Sweepstakes. The promotion was designed to encourage registration and use…

Personal Credit Data

Trans Union was ordered this week by the Federal Trade Commission to stop selling sensitive consumer data on 160 million Americans to junk mail producers. The FTC charged that Trans Union violated the Fair Credit Reporting Act. The FTC says selling consumer information to target marketers who lack one of the “permissible purposes” enumerated under…

Chips Fight Chumps

Smart cards are now being used to give the boot to troublemakers who frequent nightclubs. The new biometric smart cards are being introduced in Europe by Keyware Technologies and Interstrat, with implementation at 15 nightclubs in the Netherlands. Patrons of each nightclub will receive a biometric membership card. The club-goers will go through a short…

Pep Boys Card

Manny, Moe and Jack have added some pep to their credit card. Pep Boys, the automotive aftermarket retail and service chain, has re-launched its credit card this week. GE Card Services is the new provider of the Pep Boys Credit Card. Part of the makeover includes access to the CarCareOne network. This will enable Pep…

High Octane Card

With gas prices predicted to rise to as much as $2.50 per gallon in the U.S. there is a way to lower the pump price. Priceline.com announced last week it is launching a Priceline for Gasoline card whereby consumers will be able to name their own price for up to 50 gallons of gas per…