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AmEx Charge Cards: Pitfalls And Promises

Charge cards are making a comeback as American Express (AmEx) re-introduces them as an option for consumers who want to pay with plastic without losing control of their credit debt. Currently, AmEx is the main issuer of charge cards. Unlike credit cards, charge cards require holders to fully pay off their credit balances every month. Thus, there is no risk of incurring inter... (more)

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• Emergency Funds a Better Option than Payday Loan - It is quite common for Americans to run out of cash even before their next payday comes. This makes payday advance loan shops popular, pushing their number up to 22,000 all over the United States. While payday loans could provide some financial solut...
• Charge Cards, The Latest Plastic Alternative - American consumers, fed up with their credit cards, have been moving to debit cards in the past few months. This drop in popularity of credit cards has primarily been caused by recent changes credit card companies have been making in their credit car...
• Knowing Your Rights When Dealing with Credit Bureaus - The job of credit bureaus is to come up with credit reports of consumers, with the intention of making these as accurate as possible. However, there are times when people working for these credit bureaus make mistakes here and there – mistakes that...
• Making the Most of Cash and Credit when Unemployed - If you are one of thousands who are currently employed, do not fret just yet. There is still hope for the unemployed, especially when it comes to utilizing cash and credits the most. Do not beat yourself up, no matter how tempting this might be. Ther...
• New SEC rules out to protect money market - New federal regulations have been adopted to protect money market funds against upheavals from the financial market. The Securities and Exchange Commission laid down salient policies to make money market investments more liquid, enhance credit qua...
• Streak in net inflows for funds nears one year - Net inflows for long-term mutual funds were reported for the 45th week, or close to a year, on the sustained strength of bond funds as more money entered stock funds, the Investment Company Institute revealed in its latest figures. Inflows for the...
• Consumers At Risk With Loopholes In New Credit Card Law - The credit industry is abuzz with the upcoming activation of the Credit CARD Act. Going live this month, the Credit CARD Act actually got signed into law last year, in May. The law is meant to protect credit card holders from credit card company unfa...
• Building Credit Scores With Gas - The economic crisis and the credit card crunch left a lot of consumers with damaged credit scores. With the economic downturn still continuing and the employment rate still up, a low credit score can be a big problem for consumers. A low credi...
• Are Default Rates At Their Peak? - Even as credit card companies and other lenders continue to get hit by bad payment trends as consumers continue to struggle with their finances and with the unemployment rate that is hovering at 10%, there is now some hope that the worst of the credi...
• Secured Credit Cards: A Viable Option For Credit Recovery - Consumer recovery from the economic crisis is still a far ways off. A lot of consumers are still struggling with keeping up with their debts while setting enough money aside for essentials. With the economy still not recovering and the continuing hig...
• Hopes Rise As Charge Offs Slow Down - The credit card industry saw some signs of hope last month when major credit card companies Discover, Bank of America and Capital One posted charge off and delinquency rates that were better than what industry watchers expected. This has lead to an u...
• Some Consumers Still Unaware About The Credit CARD Act - The Credit CARD Act of 2009 has been getting a lot of mileage in the media lately. That is no surprise considering the huge impact that this particular set of legislation will bring to the credit industry. The law is also targeting a particularly sen...
• Negotiating For Better Credit Card Rates - There is a scam going around where credit card holders get called up by someone claiming to be able to lower their interest rates for a fee. Since a lot of people are desperate to get their rates whittled down, considering the economy, a lot of peopl...
• The Difference between Charge Cards And Credit Cards - Credit cards often get called charge cards, probably because when card holders use their credit cards, they call it “charging” the purchase to their credit card. That may have been well and good during the past, when charge cards were quite rare....
• No Fee Regulation, No Interest Cap On Credit CARD Act - The credit industry is preparing for the massive changes that this new Credit CARD Act will bring. For those who are not aware of it, this new legislation is aimed at keeping credit card companies from profiting too much from their customers. This Ac...
• Variable Interests Traps With New Credit Card Law - A lot of credit card holders are probably excited to see regulators finally paying attention to them with this new Credit Card Act of 2009. What they will not be excited to hear is that this new law has enough flaws in it that they will have to pay e...
• Credit Card Scam Involving Court Employee Sees Indictment - Four people have seen themselves indicted after being accused of stealing debit and credit card numbers from unsuspecting credit card holders and subsequently using the collected information to buy gift cards worth hundreds of thousand dollars. Th...
• Good News On The Mail For Credit Card Holders - Credit card holders know that credit card mail rarely brings good news. Therefore, it is going to be very pleasing for a lot of them to see the new notices coming in their mail about their credit cards. Due to the upcoming Credit CARD Act of 2009, th...
• Haiti Charity Donations Skimmed When Paying Through Credit Cards - Charity donations going to victims of the Haiti earthquake given to relief organizations through credit card transactions are not going to be arriving to their destinations a hundred percent complete. Banks and credit card companies skim off a percen...
• Credit Card Companies Being Questioned On Rate Hikes in Massachusetts - Ever since the Credit CARD Act was signed into law last May of 2009, credit card companies have been racing to introduce a number of credit card term changes before the act expressly prevents them from doing so. A lot of these changes have been gross...
• Credit Clients Should be Mindful of Sound Advice Before CARD Act Takes Effect - Issuers and credit cardholders alike will have to be used to some changes brought about by the new credit card law which will take its full affect at the latter part of the month of February. The Credit Card Accountability, Responsibility and Disc...
• Gas Pumps Have to Automate Payment Schemes – Demands Visa, Mastercard - Mastercard and Visa will soon compel payment mechanisms at gasoline pumps to accept only cards with a personal identity number and an “embedded microchip” before a transaction can be completed. This new way of payment will be introduced to mit...
• JPMorgan Chase Reports Profits amidst Credit Card and Mortgage Losses - Despite expectations of most analysts, JPMorgan Chase recently announced a fourth quarter profit amounting to $3.3 billion. That translates to $0.74 per share. A year earlier, the company posted fourth quarter profits of $702 billion which amounted t...
• Banks Give To Charity Amidst Public Pressure - The popularity of credit card companies and banks seem to be at an all time low these days. The latest public image drop they experienced centers around charity donations American citizens are sending to Haiti after a devastating earthquake hit the c...
• Economy May Be Getting Better – For Banks - The financial crisis devastated the finances of just about everyone, most especially banks. Ever since this crisis, banks have done their best to make a dent on the large number of credit card debt and mortgages that American consumers are facing. Ef...