Gambling Drives Bankruptcies

More American are gambling their way to the poor house, piling up credit card debt and then filing for bankruptcy. A new study released this morning concludes there is a correlation between the rapid growth of legalized gaming and the current surge in personal bankruptcies. NJ-based SMR Research says the overall personal bankruptcy rate is…

Citi's Summer Tips

Some 230 million Americans are expected to take vacations between June and August this year, and it’s estimated that an average family of four, on a two-week vacation within the U.S. will spend $3,000 on food and lodging alone. Add in the cost of transportation — as well as a variety of other travel related…

Easy Bankruptcy

Twenty years ago personal bankruptcy was considered a “scarlet letter”, today it has become a “badge of honor” and if the National Bankruptcy Review Commission has its way bankruptcy will become even easier. The NBRC voted Friday to adopt a draft consumer bankruptcy proposal that permits, among other provisions, for debtors to discharge card debts…

Call For Action

Congressman Joe Kennedy believes card issuers are after “deadbeats”, that is unprofitable cardholders who pay off balances promptly to avoid interest. Today Kennedy will try to build support for his proposed legislation to ban targeting convenience-type cardholders with new fees. Kennedy’s proposal calls for issuers to maintain current pricing if a card is canceled, improved…

MasterCard's New VIP Corp Cards

MasterCard added another flavor to its global business card product portfolio yesterday with the launch of the ‘MasterCard Corporate Executive Card’. This is MasterCard’s first attempt at enhancing one of its corporate card products. The new program offers “VIP” treatment with higher credit limits and premium level benefits and services. Among the enhanced benefits package…

AAA Card Rental Tips

Does your rental car have antilock brakes? Is it equipped with dual air bags? Is there an early drop-off charge? These queries and seven others make up AAA’s top 10 questions to ask when renting a car for this summer’s road trip. “Knowing the right things to ask ahead of time can mean the difference…

Bankruptcy Reform Voted Today

The Credit Union National Association says current proposals for bankruptcy reform will drive up the cost of credit to consumers. The National Bankruptcy Review Commission will vote this morning on a package of recommendations to be delivered to Congress in October. CUNA says two troublesome proposals are 1. Before being able to collect unpaid credit…

Mr. Mom Credit Card Tips

Credit card debt is a problem that 56-60 million (1 in every 4) U.S. households have (average unpaid balance $6,000 according to a study done by Consumer Federation of America — Feb. 1997). Techniques and strategies to ease the burden of the mounting credit card debt problem are not readily available due to a void…

Italian American Express Card

American Express and the Italian Post Office announced Tuesday an agreement in which the Post Office will sell American Express Cards through its 15,000 branch network. The terms of the agreement will also allow American Express Cardmembers to settle their American Express bills each month through their postal accounts. Additionally, Cardmembers will be able to…

New MCI Business Card

Old habits die hard, especially if it’s a familiar routine tattooed on your brain. For business people making calls away from their offices, the habitual routine of punching in a long distance calling card number at a payphone or hotel room phone has become second nature. Unfortunately for their employers, it has become an expensive…