Credit News
Credit and credit card newsAmerican Express Zync Credit Card
The “American Express Zync credit card” was released recently, aimed at younger consumers who wish to pay their balance off in full each month (whether they like it or not). Like many other American Express credit cards, it’s an installment ... Read More »
Getting a Credit Card If You’re Under 21
In a few weeks, it will be a lot more difficult to get a credit card if you’re under the age of 21, at least, that’s the plan. The Credit Card Accountability, Responsibility, and Disclosure Act of 2009 (Credit Card ... Read More »
Credit Card Companies Waive Fees for Haiti Relief
All of the major credit card companies have announced they will not charge the usual transaction fees for certain donations made toward relief efforts in Haiti. Visa, MasterCard, American Express, and Discover have all separately announced the waiving of interchange ... Read More »
Income to Be Used for Credit Card Approvals
Your income may become a more important factor in determining whether you’ll be approved for a credit card, according to a post in the WSJ. The paper said beginning in February, credit card companies will be required (Credit Card Bill ... Read More »
Why Credit Card Regulations are Worthless
The problem with imposing new rules on credit card issuers is their ability to quickly circumvent them and come up with new ways to make money. It’s quite evident if you look at what First Premier Bank, a subprime credit ... Read More »
Watch Out for Credit Card Inactivity Fees
By now, you’ve probably heard about credit card issuers paying customers to close their accounts in the wake of one of the worst credit collapses in history. But the latest move by card issuers is quite the opposite; some are ... Read More »
Credit Card Interest Rates May be Capped at 16 Percent
House Rules Committee Chairman Louise M. Slaughter is reportedly working on legislation that would cap credit card interest rates at 16 percent. While 16 percent certainly isn’t low, it’s markedly better than the 30 percent interest rates tied to many ... Read More »
Watch Out for Post Transaction Offers Online
You just ordered a pizza online when a coupon appears before you, promising $10 off your next order. To snag the offer, all you have to do is hit “next” or “yes” or “continue.” Before you know it, you’ve signed ... Read More »
Advanta Files for Bankruptcy Protection
Business credit card issuer Advanta Corp. filed for bankruptcy protection on Sunday, according to a report in Reuters. The company, which used to offer business credit cards with 0% APR for as long as 16 months (bad idea when the ... Read More »
Disputed Tradelines Could Endanger Your Mortgage
If you dispute a credit tradeline and it’s noted on your credit report, Fannie Mae and Freddie Mac will make it more difficult for your mortgage to get approved, according to a report in the LA Times. The pair, which ... Read More »
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