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Why banks are boosting credit card interest rates and fees (USA Today)
In recent years, banks have sharply raised interest rates and penalty fees on credit cards. As the economy tanks and banks' mortgage-related losses balloon, some banks are stepping up such increases to boost revenue. Bearing the brunt are consumers for whom a jump in rates and fees can make it tougher to pay their bills at a time when household budgets already are being stretched.
Commerzbank Awards Three-year Contract for Payment Cards to Giesecke & Devrient (BankTech)
Smart card manufacturer will deliver millions of debit and credit cards up to 2011.
Credit crunch may squeeze cards (Fort Wayne Journal Gazette)
Q. With this financial crisis, what should credit card holders with credit card debt expect to happen to their existing finance charges? Will it have a direct negative effect on finance charges (e.g., raise the charges)? Finally, if the finance charges are sure to rise, is there any way to tell by how much.
Gift cards not as no-hassle as once thought (The Post and Courier)
Gift cards have become the easy, no-hassle holiday gift as consumers spent $26.3 billion on them a year ago. But buyer beware.
The LowCards.com Weekly Credit Card Rate Report November 17, 2008 (PRWeb via Yahoo! News)
The LowCards.com credit card rate report is compiled weekly using data from 1260 credit cards which are tracked on the LowCards.com website.
NIAGARA COUNTY: Fees can soon be paid with credit or debit cards. (Lockport Union-Sun & Journal)
Residents may soon have the option to use their credit or debit cards to purchase pistol permits, file mortgage documents and conduct other business with the Niagara County Clerk's Office.
Report: Rates on most types of credit cards rise (AP via Yahoo! Finance)
Average interest rates on most types of credit cards rose slightly this week, according to a report from CreditCards.com.
Retailers Target, Nordstrom hit crunch with branded cards (USA Today)
Retailers such as Target and Nordstrom are facing surging credit card delinquencies. Many retailers have a store-branded credit card, though many have unloaded their credit card portfolios to banks.Target and Nordstrom, among a handful of other retailers, defied this trend, which looked like a smart move when times were good. Retail credit cards typically charge interest rates of 20% of more, ...
Delinquencies rise for store-branded credit cards (The Indianapolis Star)
Slumping sales are only the beginning of some retailers' woes. Retailers such as Target and Nordstrom also are facing surging credit-card delinquencies.
Credit crunch hits city cards (The Statesman)
Pritesh Basu KOLKATA, Nov. 15: The next time you walk into a mall or a glitzy store fairly sure that your credit card will allow you to splurge to your heart's content, make sure you do not have a reduced credit limit.
