It looks like Citi isn’t the only credit card issuer raising their rates… American Express enclosed a letter in our latest bill detailing a bunch of changes to their Cardmember Agreement. While I’ve reproduced the entire letter below, here’s a quick summary:
Cash advance APR is increasing to Prime + 17.99%
Late payment APR is increasing to [...]
This afternoon we received a “Notice of Change in Terms and Right to Opt Out from Citibank” in the mail. We’ve known that Citi would be increasing rates for a couple of weeks now, but we now have details straight from the horse’s mouth. All I can say is that… I sure am glad that [...]
Guess what? Citi isn’t just raising their credit card interest rates. They’re also cashing in on a substantial bailout. For those that are curious, I just ran across an interesting article that answers some questions about the bailout. Here’s a synopsis…
1. What is Citi getting?
Specifically, the government will back a $306 billion pool of troubled [...]
This is just a quick note to point out a list of credit cards with 0% APR on purchases for at least 12 months. As of this writing, there are 17 cards on this list, including one (Discover Business) that offers a $100 signup bonus (expired). Like 0% balance transfer offers, these sorts of promotions [...]
This isn’t explicitly credit card related, but… Hampton Inn is running a holiday promo where they’ll give you a $10 prepaid Visa card if you stay with them between November 4th, 2008 and January 5th, 2009.
To qualify, visit this holiday promotion page to initiate your reservation. Just be sure that “Hampton Holidays 08” is selected [...]
Here’s something to look forward to… In an attempt to offset losses in their global credit card division, Citi is raising interest rates for millions of customers. Interestingly, this move runs contrary to a promise that they made back in 2007 to Congress when they said they’d stop arbitrarily increase rates.
You should receive the notification [...]
Are you in the market for a balance transfer credit card? If so, there are a number of things that you should ask yourself before selecting an offer. For example…
What’s the introductory rate?
How long does the introductory rate last?
Are there any balance transfer fees?
Does the card have an annual fee?
What happens to the APR after [...]
Unfortunately, this Discover offer has expired… The good news is that Amex Preferred Gold Rewards is offering a $100 signup bonus.
Simply apply for the card and spend a total of $500 within the first three months to qualify for the bonus. Apply now and get a decision in 60 seconds!
Previously: $100 Discover Business Card [...]
Apparently QVC’s credit card division has been hit by an uptick in credit card defaults resulting in a bit of corporate downsizing…
In late October, Liberty Media said third-quarter profits dropped at its QVC home-shopping unit as the credit crunch slowed consumer spending and more customers missed payments on QVC-issued credit cards.
Some 27 percent of QVC [...]
American Express (AXP) sure is having a rough time. It’s so bad, in fact, that they’ve decided to re-organize such that they can qualify for help under the economic bailout plan. Under their former business model, they packaged credit card debt into bonds which were then sold to institutions seeking income-generating investments.
This structure has helped [...]
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