Credit Card Banks NEWS

The recent reports that have come in have revealed that five out of the six major banks that issue credit cards to consumers have reported a fall in the number of late payments and defaults. The only exception was the Bank of America that reported an increase in the number of defaults for the month [...]

As per the analyst report, Visa Inc, Discover Financial Services, and American Express are getting increasingly anxious, as the lobbying charges have declined sharply during the third quarter of 2010. However, the lobbying charges have risen for MasterCard. Visa has reportedly spent over $1.94 million during the 3rd quarter of 2010. Discover reportedly spent $0.23 [...]

An increase in the rates on the Discover card of Walmart has led to a rise in the average interest rates on new credit card offers, touching record highs during the week. The national average for annual percentage rates has hit 14.76 this week which is the highest mark touched since 2007. This also represents [...]

According to the Federal Reserve’s recent survey 53 percent of the banks are planning to have their minimum score requirements increased when it comes to their borrowers who carry low credit scores. Moreover targeting the same group, the low credit scorers, 58 percent of the banks claimed that they will reduce the credit limits for [...]

There has been a move by a Malaysian credit card issuer to bring out an opportunity to have a campaign in place to make sure people use their cards responsibly and have a proper plan in place for consumers. This campaign is being called Swipe Smart with 6E and refers to the six features they [...]