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CARDNEWS FOR CONSUMERS
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(6/30/97)
Ford Citibank Card Has Better Idea - Quit!
Co-branding has been slowly disintegrating with the rising tide of convenience users and the challenges of deteriorating credit quality. The pace of dismantling such programs will now accelerate with the upcoming announcement that Citibank and Ford are throwing in the towel.
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(6/27/97)
Gambling Drives Bankruptcies
More American are gambling their way to the poor house, piling up credit card debt and then filing for bankruptcy.
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(6/27/97)
Prepaid Phone Card Rates Drop
Competition in the prepaid phone card market is driving down prices for consumers. Yesterday Florida-based Transco Research Corp. cut the price of its card product to 9 cents per minutes for domestic calls.
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(6/24/97)
Citi's Summer Tips
Some 230 million Americans are expected to take vacations between June and August this year, and it's estimated that an average family of four, on a two-week vacation within the U.S. will spend $3,000 on food and lodging alone.
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(6/23/97)
Easy Bankruptcy
Twenty years ago personal bankruptcy was considered a "scarlet letter", today it has become a "badge of honor" and if the National Bankruptcy Review Commission has its way bankruptcy will become even easier.
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(6/23/97)
Call For Action
Congressman Joe Kennedy believes card issuers are after "deadbeats", that is unprofitable cardholders who pay off balances promptly to avoid interest.
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(6/20/97)
MasterCard's New VIP Corp Cards
MasterCard added another flavor to its global business card product portfolio yesterday with the launch of the 'MasterCard Corporate Executive Card'.
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(6/20/97)
Bankruptcy Reform Voted Today
The Credit Union National Association says current proposals for bankruptcy reform will drive up the cost of credit to consumers. The National Bankruptcy Review Commission will vote this morning on a package of recommendations to be delivered to Congress in October.
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(6/20/97)
AAA Car Rental Tips
Does your rental car have antilock brakes? Is it equipped with dual air bags? Is there an early drop-off charge? These queries and seven others make up AAA's top 10 questions to ask when renting a car for this summer's road trip.
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(6/19/97)
Mr. Mom Credit Card Tips
Credit card debt is a problem that 56-60 million (1 in every 4) U.S. households have (average unpaid balance $6,000 according to a study done by Consumer Federation of America -- Feb. 1997).
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(6/19/97)
VISA Installment Credit
VISA Desjardins of Montreal launched a new POS financing service yesterday which offers cardholders both a deferred payment financing plan and an equal installment financing plan in addition to VISA credit card services.
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(6/19/97)
Turkey AmEx Credit Card
American Express' first credit card launch by an independent operator was announced yesterday by Turkey's largest privately owned bank. A little over a year ago Akbank signed an agreement to manage the American Express franchise in Turkey.
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(6/18/97)
Italian American Express Card
American Express and the Italian Post Office announced Tuesday an agreement in which the Post Office will sell American Express Cards through its 15,000 branch network.
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(6/18/97)
New MCI Business Card
Old habits die hard, especially if it's a familiar routine tattooed on your brain. For business people making calls away from their offices, the habitual routine of punching in a long distance calling card number at a payphone or hotel room phone has become second nature.
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(6/18/97)
Wells Fargo on WebTV
Wells Fargo's Internet banking service is now available to more Internet users than ever before. Subscribers of the WebTV Network service may access Wells Fargo's online banking service using the software upgrades announced today by WebTV Networks Inc.
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(6/12/97)
VISA Scores
VISA U.S.A. announced Wednesday it has signed an agreement with the Service Corps of Retired Executives (SCORE) to become a small business financial management partner.
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(6/11/97)
ATM Fee Backlash
No matter how legitimate the business case is, the issue of ATM surcharging is moving to the front burner with consumers and there are rumblings this morning that federal legislation banning such fees is imminent.
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(6/10/97)
New Bankruptcy Study
The controversy over what is driving the rising tide in personal bankruptcies expanded this morning with a new report released by VISA U.S.A.. VISA says its analysis of 11,000 personal bankruptcy petitions filed in four states between 1988 and 1996 shows that bank card debt ranged between 4.1% and 15.6% of the filers' total debt.
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(6/10/97)
Traveling Abroad with Credit Cards
Citibank announced it is offering a brochure on traveling abroad with credit cards. "Customs, Currencies & Credit Cards: Travel Tips from Citibank" is available free by calling 1-800-669-2635. Citi is also offering another brochure: "Facing Financial Fraud", co-authored with the U.S. Secret Service and the U.S. Postal Inspection Service.
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(6/6/97)
VISA Triple Crown
Should 'Silver Charm' win Belmont Stakes this Saturday, VISA said yesterday it is prepared to run a special commercial to celebrate the first 'Triple Crown' victory in 19 years.
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(6/6/97)
Hyatt-AmEx Welcome Rewards
American Express and Hyatt have teamed up to hand out a book of 'Welcome Rewards' worth $1,000 to customers this summer .
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