Annual fees aren't scaring customers away from American Express Co.'s credit cards. Roughly 70% of cardholders the lender added in the second quarter have premium, fee-paying cards, Chief Financial Officer Jeff Campbell told investors at a conference Tuesday in New York. … [Read more...] about AmEx says 70% of its new credit card customers pay annual fees
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Check your bank balance, Avril Rhoades in Valdez, Alaska. Freeze your credit, Nazaryah Minnieweather of Victorville, California. And cancel your credit card, Jennifer Kelly in LaGrange, Georgia. A gang of thieves was selling your card information on a public Facebook group, and anyone willing to pay as little as $4 for stolen credit card information could use it to buy, say, a $1,099 iPhone and you'd get the bill. (Facebook shut down the group when notified of its existence by The Washington Post.) While microchips in credit cards have sharply reduced fraud in transactions that take place in stores, mobile and online transactions have become the low-hanging fruit of criminal opportunity. … [Read more...] about Think your credit card is safe in your wallet? Think again.
Jun 04, 9:44 AM EDT Newsletter Signup BusinessTechnologyWorldNationalMedia & CultureOpinionSportsLuxury Business By IBTimes Staff Reporter 06/04/19 AT 9:37 AM If you are looking for an easy way to earn $100 in bonuses, reward credit cards might be a great idea. Earning a little money while doing your everyday spending sounds perfect, after all, everyone likes to get something for nothing. However, if you are not careful, your rewards credit card might, in fact, deliver absolutely nothing for something.Because there are many rewards credit cards available on the market, choosing the right one might be challenging, especially considering the fact that there are a few major holes in the system that might lead to the downfall of credit card rewards.There are three main types of credit card rewards: points, cash, or miles. The most popular and straightforward of the three types mentioned above is the cash reward. However, it is worth mentioning that cash rewards are not always … [Read more...] about Are Credit Card Issuers Cutting Back on Perks and Rewards?
Cheryl Lock, provided by Published 1:12 pm CDT, Thursday, May 30, 2019 Hero Images / Getty Images Before you cancel a credit card, make sure you're clear on why you're doing it. Cancelling a credit card can impact your credit score, so in some cases it's better for your credit to leave a card open and inactive. Once you decide to cancel your credit card, you'll have to call your credit card company directly and request to cancel. Prepare yourself for a counteroffer, and make sure you're clear on the terms before giving them a green light. Be sure to follow up in writing, both by requesting a letter from the credit card company and by sending your own, confirming that you wanted this card to be closed. Visit Business Insider's homepage for more stories. Cancelling a credit card might seem like no big deal, but there are a few things you should consider before doing so. Here are some suggestions on how to make the right choice about your credit card, as well as how to … [Read more...] about How to cancel a credit card you no longer want
provided by Published 9:00 am CDT, Tuesday, May 7, 2019 MoneyTips Watch Your Credit Card Debt Are you keeping your credit card debt under control? Recent data from Bloomberg shows that more consumers are having a hard time doing so. Credit card issuers reported a 3.82% charge-off rate on credit cards in the first quarter of 2019 – the highest percentage of written-off accounts in almost seven years. In addition, accounts that are 30 days past due increased for each of the seven largest card issuers, suggesting the charge-off trend will continue. (If you're already 30 days late on your payments, you're at increased risk of default.) Banks are nowhere near panic, nor should they be. Data from the St. Louis Federal Reserve shows that delinquencies are still near historic lows, well below the 6.77% peak in the second quarter of 2009. For perspective, St. Louis Fed data shows that the delinquency rate on credit card loans for all commercial banks fell below the 3% … [Read more...] about Credit Card Charge-Offs Hit Seven-Year High