A few years back, getting approved for a credit card online took less than a minute. Such is not the case today. Credit card companies are spending more time reviewing credit card applications and instant credit card decisions are essentially a thing of the past. For last minute credit card shoppers, this could prove to [...]
Tags: Card, Credit Card
Posted November 24, 2009 by Admin under Financial News
Experts at PricewaterhouseCoopers say the moves will be necessary to cope with a 50% rise in bad debts on credit cards, expected to be close to £5bn by the end of next year. PwC predict a personal debt timebomb where as many as 1,000 customers a day will find it necessary to seek help because [...]
Tags: Card, Credit Card
Posted November 9, 2009 by Admin under Financial News
Nearly 90% of college students applying for their first credit card are freshmen. Realistically, the average college freshman does not have a checking account and possesses very little money management knowledge. Upon high school graduation, many students face adulthood decision while still thinking like a teenager. The wisest gift of guidance to give for now [...]
Tags: College Freshman, Credit Card, Freshman
Posted October 29, 2009 by Admin under Financial News
The two HSBC offshoots will raise charges including credit card cash advances and foreign exchange fees on credit and debit cards. The EU law, called the Payment Services Directive (PSD), requires all banks across Europe to simplify the terms and conditions on their accounts to make them more easily understood before 1 November. However, this [...]
Tags: Credit Card, Fees
Posted October 9, 2009 by Admin under Financial News
According the Wall Street Journal, Bank of America has sent a letter to the Chairman of the House Financial Services Committee vowing to cease rate and fee increases until new credit card laws take effect in February. This moratorium comes after Bank of America embarked on a nearly year long spree of rate and fee [...]
Tags: Credit Card, Rate
Posted October 7, 2009 by Admin under Financial News