Credit Cards News

UPDATE 1-US House voting on credit card bill Thurs-sources
28 Apr 2009 source: iii.co.uk

WASHINGTON, April 27 (Reuters) - The U.S. House of Representatives is likely to vote on credit card reform legislation on Thursday, according to several sources familiar with the chamber's agenda. The sources, who asked to remain anonymous because the schedule has not been made public, said the timing of a vote on the pro-consumer bill was fluid and the schedule could change. Accor ...

U.S. February credit card losses hit record -Fitch
27 Apr 2009 source: iii.co.uk

NEW YORK, April 27 (Reuters) - U.S. consumer credit quality deteriorated further in February as credit card losses hit record levels amid a worsening economic environment, Fitch Ratings said in a report on Monday. Fitch's Charge-Off Index, which tracks the write-down of uncollectable debt by credit card firms, climbed 101 basis points to a record 8.41 percent, eclipsing the prior mark of 7 ...

Egg announces £5 penalty for cash withdrawals
27 Apr 2009 source: financemarkets.co.uk

Two major credit card providers have ramped up charges for cash withdrawals, uSwitch.com revealed this week. Egg card holders will now be charged a minimum of £5 for making a cash withdrawal using their credit card, a 67% increase from the previous minimum charge of £3. Egg said it decided on the increase because using a credit card to withdraw small amounts of cash is often a clear sign of financial difficulty. Smile, meanwhile, has increased the minimum cash withdrawal fee from 2.5% to 3%.  ...

Egg Credit Card withdrawal fee increased
24 Apr 2009 source: moneynews.co.uk

Fri 24th Apr 2009 Egg has announced that it will increase the fees it charges customers for withdrawing cash on their credit cards, according to uSwitch.com. The price comparison site claims that Egg credit card customers will now be charged £5 for every withdrawal they make, rather than the £3 it cost them previously. Research by uSwitch.com revealed that around 7.3 million c ...

Smile increases credit card charges
24 Apr 2009 source: moneynews.co.uk

Fri 24th Apr 2009 Smile has announced that it will increase the amount it charges customers to withdraw cash on their credit cards, according to uSwitch.com. The price comparison site claims that the online bank will increase the minimum amount it charges customers from 2.5 per cent to three per cent from July 1st this year. According to uSwitch.com, the move by the internet subsidiary  ...

New Zealand credit card billings fall in March-RBNZ
23 Apr 2009 source: iii.co.uk

WELLINGTON, April 23 (Reuters) - Credit card billings in New Zealand fell sharply in March amid declining confidence and a deepening recession, central bank data showed on Thursday, backing expectations for further interest rate cuts. The Reserve Bank of New Zealand said total billings fell a seasonally adjusted 3.1 percent last month, compared with a revised 0.6 percent rise in February.  ...

White House, Congress weigh credit card proposals
23 Apr 2009 source: iii.co.uk

WASHINGTON, April 22 (Reuters) - The Obama administration is conferring with lawmakers on legislation to rein in practices by the credit card industry that have been criticized as deceptive, a U.S. official said on Wednesday. "We are working closely with Congress on legislation that will promote simplicity, require transparency, demand fairness, and ensure accountability -- so that we  ...



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