With banks facing a cap on fees they’re allowed to charge merchants for debit card transactions, look out for these 5 ways they’re hoping to make up for the loss.
Entries Tagged as 'Credit Card Act'
5 Ways Banks May Change Debit Card Use
January 6th, 2011 · 2 Comments · Banking, Consumer Info
Tags: checking accounts·Credit Card Act·debit card fees·debit card rewards programs·debit card transactions·Debit Cards·Dodd-Frank·savings
6 Unintended Consequences of the Credit CARD Act
August 26th, 2010 · 1 Comment · Credit Cards
Despite all it does to help protect existing credit card holders from exorbitant penalty fees and rising interest rates, the Credit CARD Act is spurring banks to make things tougher on new borrowers.
Tags: Credit Card Act·Credit Cards·Credit Scores·Interest Rates
The Double-Edged Sword of Lower Credit Card APRs
August 19th, 2010 · No Comments · Credit Cards
If you are among the lucky ones selected to receive a lower APR under the new credit card act, do not be tempted to spend more, “reasoning” that it will cost you less.
High Credit Score? It’s Not Enough to Get a Credit Card
January 20th, 2010 · 2 Comments · Banking, Credit Cards, Mortgages
Up until now, if you had a high credit score, you were given pretty much whatever credit card you wanted. With credit card defaults on the risre, banks are discovering that having a good credit score might not reveal all of the risk factors a potential borrower has. For that reason, banks are starting to [...]
Tags: credit bureau·Credit Card Act·credit card application·credit card defaults·Credit Scores·Federal Reserve·Income·industry trends·job security·Nilson Report·smartmoney.com
