Credit Cards Blog

WASHINGTON (Thomson Financial) - A top Democratic senator will on Wednesday introduce legislation that he says will help reduce abusive credit card lending practices, and will have the support of major consumer groups.

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(ARA) - Ever hear of indentured servitude? It’s a historical concept that means you’re basically working for free to pay off some obligation (like a share cropper). Ever just make your minimum credit card debt payments every month and feel like you are just spinning your wheels?

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Even as the Federal Reserve has cut interest rates, financial institutions have sharply raised rates for credit card customers — even those who pay on time — as they grapple with losses from other bad consumer loans.

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Fulton Financial Corp. is selling its credit-card portfolio, saying the deal will lead to more programs and services for its card

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Reserve Bank of India (RBI) has permitted banks to classify 100 per cent of the credit outstanding under general credit card (GCC) and overdrafts, up to Rs.25,000, against ‘no-frills’ accounts in rural and semi-urban areas, as indirect finance to agriculture under the priority sector.

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If you get an urgent telephone message about your credit card account, you should be concerned, but not necessarily about your card.

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The Federal Reserve and other regulators are planning to introduce new credit card policies designed to make fees and interest rates companies charge easier to understand, according to a report Tuesday.

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Detectives are asking for help identifying three suspects wanted in an investigation regarding a rash of credit card abuses.

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NEW DELHI: You can soon make your payments through your mobile phone rather than using a credit card or debit card. The Reserve Bank of India, in its annual policy statement on Tuesday, said it was in the process of formulating the guidelines for a payment system using mobile phones.

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WASHINGTON -(Dow Jones)- Credit card companies would be banned from charging interest on late fees under wide-ranging legislation expected to be introduced Wednesday by the top member of the U.S. Senate Banking Committee.

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