World of Finances

When the CARD Act was getting passed, the banks moaned over how having to deal with tighter consumer protection laws was going to kill their business. It turns out that those fears might have been a tad overblown. A new report from Nilson shows that since the legislation was enacted, profits at most of the credit card issuers actually shot up.

Among the provisions in the Act were items like banks werent allowed to raise interest rates on existing balances, payments had to be applied to balances with the highest interest-rate first,and they couldnt change around the date your bill was due. It had to be the same every month. Pretty sensible stuff, right?

FREE TOOL: CHECK YOUR CREDIT Credit.coms Credit Report Card Check your credit bureau profile for free with this great tool. Full Article…

TransUnion, a national credit reporting agency, recently released findings that show an overwhelming number of people are paying their credit card bills on time and limiting how much they are charging.

It may come as a surprise that credit card delinquencies (defined as 90 days past dueor moreon a payment) are at the lowest level observed in the last 17 years. Given the difficult economic times and high percent of unemployment in the U.S., you may expect quite the oppositethat more people than ever would be having problems making credit card payments on time.

TransUnion also found that the average credit card debt per borrower has remained relatively flat at approximately $4,700. They found that consumers paid an estimated $72 billion more in payments than what was purchased between the first quarters of 2009 and 2010.

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American Express Blue Cash Everyday(sm): Up to 3% Cashback, No Annual Fee, & $25 Sign-up Bonus

My primary credit card of choice is the American Express TrueEarnings Costco card. Its generous cash rewards program gives me about 2% cash back after all is said and done at the end of the year.

However, the one big downside to the Costco American Express is that you actually have to be a Costco member. Your annual Costco membership ($50) is automatically charged to your card every year. So, technically, if you own this card, you are a Costco member, whether you actually go there or not.

In my opinion, American Express is the best credit card company out there in terms of perks (Ill highlight some in this post). So what if you want an AmEx, but you dont care to be a Costco member or dont have the choice because there isnt one anywhere near you? Then the new American Express Blue Cash Everyday(sm) card is definitely worth a look.

American Express Blue Cash Everyday(sm) Cash Back Program

The Blue Cash Everyday(sm) card replaces American Expresss retired Blue Cash card.

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American Express has claimed an impressive five out of 11 prizes in this year’s uSwitch Credit Card Customer Satisfaction Awards.

The firm, which slipped from top spot last year, has reclaimed its crown with 92 per cent of its customers happy with its overall service.

Jose Vazquez-Mendez, VP Customer Service UK, American Express, remarked: “Customer satisfaction has always been a top priority for American Express and it’s good to see that our Cardmembers are happy with the service we deliver them.”

He added: “However, it’s important that we do not rest on our laurels and that we build on this success so that our customers continue to receive the level of customer service expected of us as one of the largest card providers in the world.”

Founded in 1850, American Express is a global financial services company headquartered in New York City.

It is best known for its credit card, charge card, and traveller’s cheque businesses . Full Article…