Feds Approve Rule to Curb Unfair or Deceptive Credit Card Practices
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As expected, federal regulators have approved a rule aiming to stop “unfair or deceptive” credit card practices. The Office of Thrift Supervision, Federal Reserve and National Credit Union Administration today approved a rule set to take effect in July 2010 that restricts issuers’ ability to raise interest rates and how they apply payments to […]
Avoiding a Credit Score Death Spiral
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By now, news of credit card issuers cutting credit limits, hiking interest rates and closing inactive accounts is commonplace and has reached the mainstream.
An oft overlooked consequence of these actions by banks is that a consumer with a perfect payment history and who has managed their credit responsibly could still find their credit score plunge.
How […]
Charge It! But Watch The Rewards
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When I was in the 6th grade, Mrs. Nygren (my teacher, may she rest in peace) used to admonish the class that no one should ever buy anything on credit except for a house. She was adamant. If we could not pay with cash, we should not buy what we wanted to buy. […]
Fidelity Retirement Rewards Amex: Earn 2% Rebate on Purchases
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Following close on the heels of Schwab’s introduction of its 2% cash back card, Fidelity Investments announced the Fidelity Retirement Rewards American Express Card. The new card carries no annual fee, caps or limits on its rewards, and earns a 2% rebate on purchases when rewards are redeemed as a current year contribution into […]
Cap One Launches No Hassle Reward Card with Double Miles
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Cap One recently launched a new No Hassle Rewards Card targeting frequent travelers. The credit card earns two miles for each dollar of monthly spending above $1,000 and one mile per dollar on all other purchases.
Cap One miles redemption is quite flexible, as you have the complete freedom to book your travel by any […]
Dave Ramsey Falters in a Crummy Economy
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By Maggie Ellis, guest writer
I know many people who are followers of Dave Ramsey’s financial advice. Since the economy has tanked, it seems like I’m seeing even more people joining the Dave bandwagon, looking for a way out of the financial messes that they have gotten themselves into. His “Total Money Makeover” and the associated […]
Schwab Bank Visa Credit Card: Unlimited 2% Cash Back
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Wow. It looks like a new gold standard for cash back credit cards is being set. The Schwab Bank Invest First™ Visa Signature Credit Card offers a full 2% cash back on all purchases with no tiers, no limits to the cash back you can earn, and no annual fee. As if […]
40% Off a Single Item at Barnes & Noble When Using MasterCard
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In a reprise of a deal they also offered a year ago, Barnes & Noble is offering 40% off a single book when you make the purchase using your MasterCard. The offer is available both online and in stores beginning November 26, 2008 and lasting through December 1, 2008 at 2:59am EST.
There are a […]
Ring in the New Year… with More Credit Card Fees
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Facing the greatest financial crisis of the generation, lenders are taking a number of actions to mitigate their risk. In addition to slashing credit limits, credit card issuers are reacting by aggressively closing inactive accounts, hiking rates and fees, and even completely eliminating balance transfers and convenience checks.
As the end of the year nears, […]
Amex Business Credit Cards No Longer Allow Balance Transfers
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In what could be a portent of things to come, American Express has sent notice to all of its OPEN small business credit card holders that it will no longer process balance transfers or convenience checks. In card holders’ November statements is the notice:
Effective immediately, Balance Transfers and Convenience Checks against OPEN Credit Card […]
Redstone FCU Credit Card: Up to 2% Cash Back
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Redstone Federal Credit Union has an intriguing cash back credit card offer. Its VISA Gold, Visa Platinum, and Gold MasterCard earn a 1% cash back reward on the first $5,000 in annual purchases and 2% cash back on all purchases above $5,000. There is no mention of a cap on rewards. This […]
Amex Cardmembers: Get $20 When You Spend $40 Two Times at Walmart
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Just in time for the holiday shopping season, Amex has teamed with Walmart to offer a very generous deal:
Simply spend $40 or more 2 times from November 18 through December 18, 2008 at a Walmart store or at Walmart.com using your American Express card and you’ll receive a $20 statement credit. Valid purchases must […]
For NYC BofA Visa Cardholders: Up to $100 Back on Transit
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From now until January 31, 2009, you can earn $10 cash back for every $100 you spend on New York area transit when you pay with any Bank of America Visa credit or check card. You can earn up to $100 during this promotion, but you must sign up first to begin saving.
Eligible NYC […]
$4 Discount on Movie Tickets Using Your Discover Card
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Now through November 30, 2008, you can get $4 off your purchase of movie tickets at Fandango when you use your Discover Card. Discounts are limited to one per Discover card holder. To access this deal, you must purchase tickets through this link.
This post is from Credit Card Watcher’s Credit Card Deals Blog.
$4 […]
Chase Freedom Card a Casualty of the Credit Crisis?
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Chase recently made a number of changes to its Freedom credit card and unfortunately, nearly all of them made the card less attractive. It’s a shame, since the card used to be one of the best cash back cards available.
In reintroducing the Freedom card, the lone improvement Chase made was the introduction of a […]
Foreign Bank to Issue a Diamond Studded Credit Card
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Citi has its Diamond Preferred Credit Card and every bank has a gold card, but leave it to Kazakhstan–the home of fictitious journalist Borat–to actually put diamonds and gold in a credit card.
According to the Financial Times, the “Diamond” credit card will be issued by MasterCard and Kazkommertsbank, a bank in Kazakhstan. The card […]
Latest Fed Survey Shows Credit Tightening for Everyone
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If you thought that credit was becoming harder to get, you’re not imagining things. And if your credit card issuer recently cut your limit despite a pristine credit history, you’re not alone.
The Fed just released its October 2008 Senior Loan Officer Opinion Survey on Bank Lending Practices which showed that banks have been progressively […]
Sears-Kmart MasterCard to Offer Free Credit Scores
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The WSJ reports that holders of the Sears-Kmart MasterCard will soon be able to see their TransUnion credit score for free. Existing cardholders are currently receiving notice in the mail of this new benefit.
To date, only Washington Mutual credit cards had offered this feature. It remains unclear, however, whether WaMu cards will continue […]
Bank of America Balance Transfer Offers: 0% APR for 15 Months
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It’s a rare thing these days when a credit card issuer actually improves one of its balance transfer offers. So, it came as a bit of a surprise to see that Bank of America has just increased the intro period on balance transfers for several of its cards.
Previously, these cards had offered initial balance […]
Discover to Remove Cap on Balance Transfer Fees
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Discover will be removing both the minimum and maximum balance transfer fees on its consumer and business credit cards, effective November 1, 2008. Currently, balance transfers are assessed a fee of 3% with a $10 min and $75 max for consumer accounts. As of next month, all balance transfers will be subject to […]
Change The World With Credit? Probably Not
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The other day I stumbled across an advertisement for Bank of America’s new Brighter Planet credit card. The idea behind the card is that every dollar you spend earns points which are then converted to purchase carbon offsets. Bank of America is not the first credit card company to try to convince us that we […]
$10 Cash Card For Using Your Costco Amex to Pay Your Wireless Bill
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For those with an American Express Costco credit card, you can earn a $10 Costco Cash Card when you enroll in this promo and automatically pay your wireless phone bill using your card.
The following cards are eligible for this promotion:
TrueEarnings Card from Costco and American Express
The TrueEarnings Business Card from Costco and American Express
American Express […]
Discover Cash Over is Still Not Over
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Discover Cash Over is an often overlooked but very useful feature that allows you to use your Discover card much like an ATM card at the grocery store checkout. When you use your Discover card at a participating supermarket, you can request additional cash at checkout, and it will be treated as a normal […]
More Signs of the (Credit) Apocalypse
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More tangible signs of the credit crisis are appearing every day. Several new reports came in the past week, which collectively paint a grim picture of the immediate future for the credit card industry.
Card issuers report earnings
Bank of America, Citi, Chase, Capital One and Wells Fargo have all recently released their quarterly earnings reports […]
Hilton American Express: Up to 62,500 Bonus HHonors Points with Application
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The Hilton HHonors American Express Platinum Card is now offering an all-time best of up to 62,500 HHonors bonus points with an approved application, up from the already excellent 50,000 HHonors points previously being offered.
Highlights of this deal include:
Earn 20,000 HHonors bonus points with your first purchase
Earn 2,500 points for each of your first four […]
Advanta Cards: Up to $50 Bonus for Setting up Automatic Bill Pay
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Eligible Advanta cardholders can receive a $5 cash back bonus for each new automatic payment that they set up using their Advanta BusinessCard, up to a maximum of 10 set ups for $50.
As reported at FW:
Not sure if this applies to all customers, but saw the ad when I logged into my account:
Earn Cash Back […]
Discover Open Road, Motiva and Miles Cards: Double Cash Back on Groceries
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Discover is doubling its normal bonus rate on grocery store purchases from November 1, 2008 to December 31, 2008 for new accounts:
Discover Open Road Card: Will earn 2% cash back on the first $1,000 in grocery purchases during November and December. As usual, it will also earn 5% on gas and auto maintenance purchases.
Discover […]
Capital One Credit Cards: Add an Authorized User, Get $25
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Capital One has a limited-time promo where you will earn a $25 bonus just for adding an authorized user to your Capital One card by October 15, 2008.
Via FW:
Add authorized users and get a $25 bonus! Call by October 15 (1-800-955-7070).
Questions:
1) Who is eligible? Anyone.
2) Will I be charged a fee? No.
3) Is there an […]
How Important is Your Debt to Limit Ratio?
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We are under constant media barrage about checking our credit report and we all know it’s important to have a high credit score. With the new legislation, it’s possible that a great credit score will be more important than ever. But does the average Joe really understand what goes into the calculating of a credit […]
Get a $125 Amazon.com Gift Card when Approved for a Discover Card
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The same company responsible for the Garmin Nuvi deal is also offering an Amazon.com gift card bonus. You’ll receive a $125 Amazon.com gift card when you apply, get approved for and make a qualifying purchase, balance transfer or cash advance with your new Discover More or Discover Student card.
Upon fulfillment of these requirements, […]