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Credit Card eZine - News and Articles about Credit Cards

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Consumers with business credit card face tremendous risks

Wednesday, June 22, 2011

One of the nonprofit research groups actively studying the trends in the credit card industry has warned customers receiving emailers from banks for business credit cards to discard them without second thoughts. These are credit cards that are given out to various organizations such as sole proprietors, small business owners and other corporations to make the task of book keeping easier and differentiate between person and professional expenditure. However, banks today are marketing these business credit card offers to even individuals irrespective of whether they own a business or not.

While customers may feel thrilled about these cards being offered to them, banks have an ulterior motive in extending these offers to everyone and not just business owners. The implementation of the CARD Act in 2009 and 2010 placed a stop on many fees and charges that were helping banks generate revenue. Consumer credit cards were offered high level of protection and the entire credit card industry became more transparent in its operations.

But one of the major loopholes in the CARD Act is that the rules and regulations of this act are only applicable to consumer credit cards and not to business credit cards. Banks which were facing threats to reduced revenue to the CARD Act now found a way to make up for this loss. Banks and other financial institutions have started aggressively marketing business credit cards to almost every customer since they lack the protections that consumer credit cards enjoy. Since these cards do not have any limit of the late payment or the interest rate hikes, banks have an upper hand. Hence, customers with these cards are at greater financial peril and need to be more responsible about their business card usage.

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[December 05, 2011]

In a time when banks have begun charging monthly debit fees, baby boomers may be able to find discounts based on their age and experience. Our research reveals some of the best checking accounts for consumers over 50 - and the best part is that they`re free!

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[October 12, 2011]

All data shows that the woman entrepreneur is on the rise.This could be because women tend to work well in groups and are great multi-taskers and communicators. In addition to that, women are also making riskier decisions when it comes to financing their businesses, according to a recent survey by PNC Financial Services. These decisions may have an impact on the longevity of these female-run businesses.

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[September 07, 2011]

With the economic upheaval, obtaining a credit card seems a distant dream, especially if you fail to qualify for any credit card application. Nonetheless, turning into an authorized user, i.e. attaching yourself with a good-quality credit customer`s account and the consent to use it, would boost your credit scores swiftly, and jump start your credit history.

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