Archives for: May 2006

Visa Card: Europe's Most Trusted (Except in Hungary)


30th May 2006
Visa is the most trusted credit card brand in 13 out of 14 countries in Europe according to a poll of Reader's Digest magazine subscribers. The survey, the results of which were reported on Visa's website, asked respondents to nominate brands they trust… more »

GE Teams With PayPal, EBay on Card


30th May 2006
General Electric Co. said Tuesday it will partner with eBay Inc. and Internet payment service PayPal Inc. to launch and market a new credit card. Financial terms of the partnership with GE Consumer Finance were not disclosed. The PayPal Plus credit card… more »
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Debtors' Diligence Pinches Card Issuers


29th May 2006
The credit card industry has a problem: Although Americans are deeper in debt than ever, they are paying off bigger portions of their monthly credit card bills. For card issuers, which profit by collecting interest on unpaid balances, that's bad news. In… more »

The Pitfalls of Privacy


29th May 2006
New rules can make banking, credit-card use less convenient Want to avert a marital dispute? Don't ask your spouse to obtain your bank account balance when depositing money to your account. He or she might not succeed in getting it. Policies at banks… more »

Dr. Gupta's Credit Card: A Very Amusing Story from India


26th May 2006
A few months ago, Dr. Gupta got himself a credit card. The fact that the joining fee and the annual fee for the first year has been `specially waived for you' certainly swung the decision. "I need not carry large amounts of cash when I travel," he ration… more »
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Credit card debts cast a cloud over Barclays' prospects (UK)


26th May 2006
Is Barclays a screaming “buy”? The shares yield a whopping prospective 5.1 per cent. (Only Lloyds TSB among the banks is more generous.) They trade on a multiple of just 9.5 times expected 2006 earnings. (Only Royal Bank of Scotland and HBOS are cheaper… more »

MBNA Corp sets $2.5 bln credit card ABS


24th May 2006
MBNA Corp. priced $2.5 billion of asset-backed securities supported by credit cards, a source familiar with the deal said on Monday. Banc of America Securities was lead manager for the offering, the source said. MBNA was acquired by Bank of America Cor… more »
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Bof A Offers PetRewards Credit Card


24th May 2006
Bank of America Corp. will offer PetRewards Visa cards that allow customers to display photos of their pets on the card. The card, which carries no annual fee, gathers reward points for pet-related expenses and donations to participating animal shelters… more »

Its all about Supervision: Ben Bernanke


23rd May 2006
Federal Reserve Chairman Ben Bernanke said on Tuesday that the U.S. central bank had managed to achieve good practice in credit card disclosure with the supervisory tools that it already has in hand. "We've found that through guidance and supervisory… more »

Credit-Card Firms Key in Fight Against ID Theft


18th May 2006
Credit-card companies do a good job of helping consumers resolve identity-theft problems once they occur. But they could reduce ID fraud even more if they gave consumers better tools to monitor their accounts and limit high-risk transactions, such as lar… more »

Credit Card Rules to be Updated (US)


17th May 2006
Proposed new security rules for credit card-accepting businesses will put more scrutiny on software, but let them off the hook on encryption. The update to the Payment Card Industry (PCI) Data Security Standard, due this summer, responds to evolving at… more »
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New Credit Card for Those without Credit


15th May 2006
A new type of plastic card, aimed at children and others with no access to a bank account or credit facilities, is to be launched. The card can be used to make online payments and will work in the same way as prepaid mobile phone cards with users “toppi… more »
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Card bonds set to weather credit slide (UK)


12th May 2006
Bonds backed by credit card receivables can weather further deterioration of consumer credit even though personal insolvencies are already at record levels, two credit rating agencies say. More Britons than ever found themselves unable to pay back thei… more »
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The Proper Use Of Credit Cards


09th May 2006
Credits cards are a convenience, not a crutch. Credit cards are a great way to make purchases and record to the penny your spending. They also provide a way to postpone payment on items and thereby earn more interest on your money. For example, if you… more »
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Two suspects in credit card thefts


09th May 2006
Suffolk (Long Island) police and its Crime Stoppers unit are looking for a man and a woman involved with stolen credit cards in two incidents. On Tuesday, Feb. 21, an East Islip resident was at Gardiner Park in Bay Shore when someone stole credit cards… more »
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36 held as cheques scam nets millions: Parts 1 & 2


05th May 2006
An old story, but still interesting. Part 1: The Crime (Apr. 2005) Police arrested 36 people yesterday over a multi-million-pound chequebook scam involving Royal Mail workers. Those detained are believed to be members of a gang suspected of stealing c… more »
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Chip and Pin Fighting Credit Card Fraud


05th May 2006
Chip and pin has helped cut credit card fraud for the first time in a decade, it was claimed, as figures showed a sharp drop in card crime in 2005. The amount lost in credit and debit card fraud dropped last year by 13pc to £439m, according to UK paymen… more »
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Almost £1 Million Stolen in Credit Card Fraud


05th May 2006
Fraudsters working in shops, restaurants, service stations and a bank stole almost a £1 million in a credit card and banking scam. Staff employed behind the tills or in call centres stole nearly £900,000 in three separate "stings" after getting hold of… more »
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Huge Debts for One in Five Britons


03rd May 2006
Nearly one in five people in the UK have amassed debts of more than £10,000 on credit cards, loans, overdrafts and hire purchase agreements, a survey showed today. An estimated eight million people owe a five-figure sum, according to debt solutions firm… more »

Mastercard's Net Income Rockets


03rd May 2006
MasterCard Inc., the credit-card association that plans to raise as much as $2.45 billion (U.S.) in an initial public offering of stock, says first-quarter profit rose 36 per cent. Net income jumped to $126.7 million, or 94 cents a share, from $93.3 mil… more »
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Hackers Access Credit Card Details through UK e-tailer


02nd May 2006
More than 4,000 UK credit card holders may have been affected by a security breach that occurred after hackers gained access to credit card details through an online retailer. A UK-based online retailer has been identified as the source of a security br… more »
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