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A Brief History of The Fuel Card

Card Insider: The exact year that the fuel card was first used is difficult to pinpoint, but wide use began in the late 70's and early 80's. However, these early generation cards were unlike the cards we use today. The first cards had no electronic memory, and they were used almost exclusively by truckers, due to the limited number of facilities where cards were accepted. The card had to be cross-checked with the signature on the card and the vehicle registration. Later, the cards were embossed, instead of printed, because information on printed cards would rub off after several uses. In its early stages...

Card Expert on August 14, 2010 0

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Credit Card Delinquency Rates Continue to Fall

Card Insider: Credit card delinquency and default rates continued their general decline in May, cheering investors and signaling overall economic improvement. Despite banking industry concerns about a new wave of government regulations that could limit profits, easing of 30-day late accounts and charge-offs helped credit credit card issuers retain more revenue compared to the previous month. Capital One reported that only 4.8% of its cardholders fell more than 30 days behind on minimum payments during May. Chase reported a similar delinquency rate of 4.22%, and Discover's 30-day-late percentage fell belo...

Card Expert on June 28, 2010 0

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Government Benefits to Require Prepaid Debit Card or Direct Deposit by 2013

Card Insider: Millions of Americans will join the ranks of prepaid debit card users over the next few years, as government officials announced plans to eliminate most Treasury check payments by 2013. According to the Office of Management and Budget, current recipients of government benefit checks will have eighteen months to prepare for the switch. After March 1, 2011, Americans who apply for new assistance programs, including unemployment and disaster relief disbursements, will no longer have the option to receive paper checks. The change comes at a critical time for a financial industry that has forced...

Card Expert on June 28, 2010 0

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Debit Card Issuers Report Continued Consumer Acceptance

Card Insider: Merchant debit card acceptance has driven consumers' use of the cards to all time highs, according to debit processing network PULSE. For the 2010 Debit Issuer Study, PULSE commissioned global consulting firm Oliver Wyman to survey sixty-four leading financial institutions about their customers' use of debit cards. According to study respondents, roughly two out of three American consumers with access to debit cards use them on a regular basis. Although market penetration remains relatively stable, more cardholders have discovered more ways to use their cards. New merchant point-of-sale ter...

Card Expert on June 28, 2010 0

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Chicago Transit Prepares to Accept Credit Cards on City Buses

Card Insider: Chicago transit officials joined their peers from New York in a quest to replace coins with credit cards on city-operated trains and buses. The Chicago Tribune reported the Chicago Transit Authority's decision to pilot multiple credit card acceptance technologies after studying potential cost savings and ridership improvements from the move. According to the CTA's research, a cash transaction on a typical bus route requires 25 seconds. Those seconds can turn into minutes if even a handful of riders at a busy stop decide to pay with paper money. Alternatively, a credit card swipe transaction...

Card Expert on June 28, 2010 0

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The Credit Card Battle

Card Insider: If you are one of the millions of Americans who have been fighting the credit card battle and looking for an easy resolve to your debt problems, it may take some time to accomplish. Although it won't be easy, you can find relief if you remain committed to the mission. Most importantly, if you don't take action to reduce credit card debt now, you will never find relief. Despite the difficulty, some experts have a few suggestions on what cardholders can do to help reduce debt. The process begins by sitting down and making a thorough list of all personal expenses and monthly financial commitments...

Card Expert on June 28, 2010 1

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Credit Card Fraud

Card Insider: In Wilmington, NC a resident discovered for the second time that she had become the victim of debit and credit card fraud. The victim, who wishes to remain anonymous, said the thief was able to access her debit card information without having the card in their hands. The victim doesn't know how the thief got a hold of her debit card information, but does know there are dozens of other debit and credit card theft victims in the Cape Fear area. The victim's bank is BB&T; however, both Wachovia and Sun Trust have reported dozens of debit and credit card thefts in the area. The victim learned ...

Card Expert on June 28, 2010 0

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Moody Reports The Worst Is Over

Card Insider: According to the most recent release from Moody's Investors Service, the worst is over for credit card companies and cardholders. The current trend shows that card losses continue to decline. Being labeled a trend is important because the data must be rising or falling greater than the typical average over a specified period of time. In the case of card delinquencies and defaults most experts would require three months. Moody's Credit Card Index indicates that 10.71 percent of securitized credit card loans were written off as uncollectable in May. Securitized loans are those accounts with cred...

Card Expert on June 28, 2010 0

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Debit card growth fueled by small ticket transactions

Card Insider: The days of weekly ATM withdrawals may be coming to a close as consumers turn to their debit cards to pay for both big and small everyday expenses. During the heavy hit to the economy over the past two years, American consumers have turned to debit cards over other forms of payment at an increasing rate, according to the 2010 Debit Issuer Study funded by ATM/debit network PULSE. The growth rate from 2008 to 2009 was largely fueled by small-ticket transactions. "The results of this year's Debit Issuer Study highlight the increasingly important role debit is playing in helping consumers ma...

Card Expert on June 28, 2010 0

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Getting a Good Deal on Your Credit Card

Card Insider: Credit cards are like power tools –- they help keep your financial house in order, but if you’re careless, they can do a lot of damage. First, the benefits of a credit card: • Credit cards let you use the card company’s money for free. As long you pay your bill in full each time it’s due, you don’t have to make interest payments on things you buy for anywhere from 15 to as many as 50 days after you buy them. • Credit cards make budgeting brainless. If you put everything on them, you have a record of your spending, which can help you make and trim your person...

CreditCardsGuru on June 10, 2010 0

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Finally! Free credit scores on horizon

Card Insider: One financial reform passed by the Senate would allow you to see your credit scores -- not just your reports -- if they were used against you. Free access to your credit scores may be just around the corner. The financial-reform bill that the Senate passed last week includes an amendment that would give individuals the right to see their scores if those numbers were used against them in a financial transaction. In other words, if you were denied a mortgage or insurance, or had to pay more for either one because of your credit, you'd get to see the score that was used to make the decis...

CreditCardsGuru on June 7, 2010 1

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Share a Credit Card

Card Insider: As a way of tempting you to spend more money, credit companies offer you the option of having several cards under one account. And though it may be convenient for your spouse, your teenager and yourself to all share one credit card, make sure you lay out some ground rules. Here are a few suggestions to help you share a credit card. Step 1: Discuss how payments will be made. Sharing a credit card with someone else does not mean that you should be responsible for making all of the payments on it. Paying off a credit card should be the responsibility of everyone who uses it...

Card Expert on May 31, 2010 0

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Obtain a Secondary Credit Card Number

Card Insider: Using a credit card offers you several advantages over using cash. For one, credit cards are convenient to use. Instead of bringing wads of cash when you go shopping - and making yourself a potential target of pickpockets or robbers - you can just bring your plastic credit card. The Internet has taken credit card use to a higher level these days. With so many companies bringing their businesses online, it is also possible to shop online using your credit card. Online shopping presents a new area of danger for credit card users. It is possible for a cracker, identity thief, or hacker to...

Card Expert on May 31, 2010 0

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What Your Credit Score Is Made Of

Card Insider: Your credit score is a three-digit number that is used to predict how you will pay your bills. The score ranges from 300-850 and is calculated using your credit history information from your credit report. When you make an application for credit, the creditor or lender uses your credit score to quickly make a credit/no-credit decision. This same decision can very well be made by simply viewing your credit report, but the credit score makes decision-making easier and less subjective. While there are several different versions of the credit score, the most commonly used version is the FICO...

CreditCardsGuru on May 24, 2010 0

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An Overview Of Your Credit Report and Score

Card Insider: Did you know that all your credit card payments – and non-payments – are compiled into a single document known as your credit report? Did you also know that the information in this report can be given a numerical value called a credit score? Your credit report and credit score are the two primary methods that creditors and lenders make a credit decision about you. When you apply for a credit card, either your credit report or credit score (or both) are checked to see if you have a history of late payments on credit cards. Mortgage lenders check your credit report for previous loan defau...

CreditCardsGuru on May 24, 2010 0

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Seven Good Things About Credit

Card Insider: We all have our fair share of complaints about credit, credit cards, credit card companies, and lenders. More and more, credit seems to become a staple in our society, but it isn't all bad. Yes, even with credit there's a bright side. These are some of the good things about credit that you might not think about. 1. Credit cards can help you build good credit When you use them correctly, credit cards enable you to build a positive credit history that lenders view as less risky. As you demonstrate responsibility with credit cards, even those with low credit limits, future cr...

Card Expert on May 14, 2010 0

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How Many Credit Cards Is Too Many

Card Insider: You may sift through your stack of credit cards and wonder if you have too many. Or, if you're considering opening new credit accounts, you want to be sure it won't affect your credit before doing so. The best number of credit cards is one of those questions that doesn't have a one-size-fits-all type of answer. The credit scoring calculation looks at the number of credit cards you have, but in comparison with other information on your credit report. The best number of credit cards depends on your ability to manage your debt and credit card payments. You can tell if you have too many credit...

Card Expert on May 14, 2010 0

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5 Credit Cards You Should Never Close

Card Insider: Many consumers close credit cards after becoming what seems like too delinquent to catch up. There seems to be the notion that closing cards makes delinquency go away. Not only is this not the case, closing out a delinquent credit card will hurt your credit more than it will help. Here are five credit cards that you should never close. 1. Any credit card that still has a balance. When you close a credit card that has a balance, your total available credit is lowered to $0. Since you still have a balance on that credit card with no credit limit, it looks like you’ve maxe...

Card Expert on May 14, 2010 0

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How To Correct Credit Report Errors Yourself For Free

Card Insider: You can correct credit report errors yourself for free. You have to work hard to keep your credit score high. And it’s really a pain in the neck when somebody dings your credit by mistake. And each credit ding will cost you lots of money. You’ll find it difficult to find a good job, you’ll pay higher interest for mortgage and credit loans, and your homeowners and auto insurance will be higher too. The good news is if someone reports something negative about your credit by mistake, they have to fix it. That goes for both the reporting company and third party...

CreditCardsGuru on May 10, 2010 0

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6 ways to choose the right debit card rewards program

Card Insider: Rewards on debit cards have become more common, but complex in their array of choices. These six tips will help you in choosing and managing a debit card reward program that's right for you. 1. Do the math. Understand that if it's rewards you're after, you can probably rack up awards more quickly with a credit card. But if you prefer using debit, be sure you understand how much you need to spend to earn a reward. Also watch for limits on rewards. 2. Check your own bank first. Because switching banks can be time-consuming, look first at your bank's debit prog...

Card Expert on May 5, 2010 0

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