Credit Card News

There’s a new ultra-exclusive credit card in town, and it’s not from American Express. The Visa Black Card, made of carbon instead of plastic and issued by Barclay’s Bank, provides big spenders with 24/7 concierge service, access to airport lounges worldwide, luxury gifts, and typical credit card cash rewards, all for the pittance of a fee: $495 a year. It’s a pittance, of course, compared to the American Express Black Card fees: $5,000 for initiation and $2,500 every year!

Still interested? Learn more about the Visa Black Card here »

Good news for U.S. consumers struggling with credit card debt: The Federal Reserve has enacted a new set of rules governing how banks assess interest rates and fees that could save credit card customers a bundle. Now for the bad news: The changes won’t go into effect until June 2010. Continued

Managing your credit cards wisely is one part of being smart financially, but saving money every month is perhaps even more important. Today, a number of online accounts offer high yield savings with rates up to 3.30% and no minimum deposit to open an account. Continued

It’s getting harder and harder to get a credit card these days; card issuers only want to extend credit cards to consumers they are confident will repay the card. That said; there are still cards available to consumers with a variety of credit scores, you just need to know where to look. Continued

Do you have credit cards with $0 balances that you rarely use to make purchases? If so, your credit card issuer may simply cancel your account for inactivity. And even if you don’t use the card, that could hurt you. Here’s why, and what to do to keep your credit cards open. Continued

Treasury Secretary Henry M. Paulson Jr. announced today that the majority of the government’s $700 billion bailout plan would not go to buying up troubled mortgage-backed securities as presumed, rather to fund increased consumer and business credit including credit cards, auto loans, and student loans. Continued

Last week, Chase announced a newest variation of the popular Chase Freedom Credit Card. The new Chase Freedom card offers 0% on purchases for 12 months, a competitive 9.99% regular APR, 3% cash back on groceries, gas, and fast food for the first six months, plus 1% cash back on all purchases, and more. Continued

There’s a new kind of plastic in town. Prepaid debit cards are becoming increasingly more common on college campuses and elsewhere as credit card companies look for ways to add new customers without extending credit to risky consumers with no credit history or past credit problems. Prepaid debit cards solve that problem for card issuers, but they give consumers few benefits at all. Continued

Credit card companies love it when you pay them late. They can charge you fees of up to $39 and even double your interest rate for up to a year. But paying your credit card late isn’t just expensive, it will hurt your credit score and influence your future ability to get credit. Fortunately, however, your credit score may not go down every time you pay late. Here’s why. Continued

The new Delta Reserve Credit Card by American Express gives Delta SkyMiles frequent flyers a whole new world of credit card benefits. Continued