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CARDNEWS FOR CONSUMERS
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(7/31/02)
Kinkade VISA
The "Painter of Light" now has a credit card. MBNA has inked an affinity card deal with Media Arts Group to issue the Thomas Kinkade VISA card. The new credit card will offer cardholders reduced membership fees toward the Thomas Kinkade Collector's Society...
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(7/30/02)
Bankruptcy Abortion
Will the holes in the current bankruptcy laws ever be plugged to reduce the abuse by some consumers who have the ability to pay some of their debts? Last week it seemed inevitable that the U.S. House would finally pass the bankruptcy reform legislation, and that the U.S. Senate would follow this week.
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(7/29/02)
Cash Rebates
Cash rebate cards have returned and with bigger rewards than ever. American Express has upgraded it "Cash Rebate Card" to now offer a cash rebate of up to 5%. The annual cash
reward for purchases is up to 3% and there is an additional rebate of up to 2% for purchases in months in which the account carries a balance.
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(7/26/02)
Memorable Moments
MasterCard's summer-long promotion offering cardholders and baseball fans the opportunity to vote on baseball's "most memorable moment" and a chance to win an all expenses paid trip to the World Series has picked up another major supporter.
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(7/25/02)
Realtor VISA
By the end of this year, the pot will be getting sweeter for realtors. First USA will expand its National Association of Realtors VISA program in November to include the "Value Miles Reward Program."
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(7/24/02)
Double Miles
United Airlines Mileage Plus VISA cardholders can rack up some serious miles over the next few months. Bank One and United Airlines launched a promotion this month offering double miles for purchases through October 31.
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(7/23/02)
School Cools
The economic slowdown might be impacting back-to-school shopping this year, but the Osbournes will be hot. A new survey, released this week, shows parents will spend an average of $97 on school supplies this year, down from $118 last year.
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(7/22/02)
Zinger Finger
Getting a "Triple Zinger" from KFC might only take a simple finger in the not too distant future. A pilot will soon be underway in a Sacramento, California Kentucky Fried Chicken restaurant to test automated biometric fingerprint technology.
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(7/19/02)
Personalized Rewards
Diners Club has introduced the Personalized Rewards program for cardholders with more than 100,000 points, about 20% of its portfolio. Cardholders simply call Club Rewards and Diners Club will shop for the item or service, price it in points and fulfill the request.
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(7/18/02)
State Farm Card
The State Farm Bank VISA CheckCard has hit the market as the insurance company makes its way into banking. Customers do not need to be a policyholder of State Farm Insurance to open a State Farm Bank account.
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(7/17/02)
Yellowstone VISA
The newest green card is yellow. U.S. Bank, Elan Financial Services, and the Yellowstone Park Foundation launched an affinity VISA card this month. The Yellowstone VISA card features a picturesque scene of Yellowstone, and is available in a classic and platinum card.
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(7/16/02)
Extreme Diners
Does your credit card offers sky diving perks? Diners Club North America has launched an "Extreme Adventures" program for its Carte Blanche cardholders.
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(7/12/02)
NextCard Shutdown
If you have a NextCard VISA buried in your wallet or squirreled away in your sock drawer, there is a very good chance the card it has been deactivated. The FDIC, which took over the NextCard accounts in February, decided this week to shut down about 800,000 of NextCard's one million VISA accounts.
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(7/11/02)
VISA Gift Cards
Gift cards are exploding across the USA with sales expected to rise from $1 billion last year to $15 billion next year. As a result, Bank of America, the largest issuer of VISA gift cards, is going whole hog by doubling its portfolio of choices.
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(7/10/02)
Bet the Bank
Hundreds of kids have come together in Indiana this week to "Bet the Bank". FleetBoston launched a game that teaches basic money management skills including establishing credit, protecting credit, and managing charge card debt. The "Bet the Bank - The Mastering Money Management Game" uses a game show format with the teacher or instructor as the host.
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(7/9/02)
California Steamin'
Consumer groups in California are stewing after a group of credit card issuers successfully persuaded the U.S. District Court to grant a preliminary injunction against enforcement of the new minimum payment disclosure law that was scheduled to go into effect on July 1st.
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(7/8/02)
3-in-1 Report
The nation''s largest consumer credit reporting service is gearing up to launch a new service offering a combined report from all three major credit reporting agencies. The Equifax "3-in-1 Credit Report" will sell for $29.95 and will show line-by-line comparisons of personal credit information from Equifax, Trans Union, and Experian.
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(7/3/02)
Clear Card
While payroll debit cards for unbanked consumers have surfaced this year, a new payroll card has emerged that offers a credit line based on your annual salary. The "Clear" MasterCard also enables employees to make purchases and have the payments drawn directly from future paychecks over the next two months, interest-free.
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(7/2/02)
Cashless Burgers
Before long, the first thing you'll do at a fast food drive-thru is swipe your credit card. Believe it or not, after 35 years of penetrating every corner of consumer payments, credit cards are finally coming to the quick service restaurant market. In the past, credit cards were too slow and too expensive for fast, low-ticket fast food sales.
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(7/1/02)
Spam Cards
The come-on email is slugged: "No Credit Check!" and "Guaranteed Acceptance", for a credit card with a $5000+ credit line. The reality is that no VISA or MasterCard issuer can guarantee acceptance or issue a big credit line without a credit check. What's the skinny on these offers?
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