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Credit Card eZine - News and Articles about Credit Cards

Credit Card eZine - News and Articles about Credit Cards

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Common credit card mistakes to avoid

2011-02-17

It is not just the new rules of the Card Act that have upset the retailers in the state of California. The Supreme Court of California has banned merchants from asking cardholders for their zip code when using their credit cards for purchases. This ban has been imposed based on the consumer protection laws in its state. This new rule adds to the already imposed laws that have curbed the freedom of the retailers.

In a unanimous decision on Thursday, Justice Carlos Moreno of the Supreme Court, wrote that, the zip code of the customer is an integral part of the physical address, asking again for it, is banned as per California state laws. However, there is an exception when it comes to revealing the zip code. In gas stations, the merchant can ask for the zip code, since they are not being recorded. Other businesses use these for other reasons. Hence all businesses excluding the gas station are banned from getting this code from cardholders.

This move was not received well by the retailers in the state and they felt they got the raw side of the deal. According to the leader of the retailers association in California, merchants ask for zip code in order to prevent fraud and to protect the customers. The retailers felt this is a terrible move by the court, as it does not serve any purpose.

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[Sunday, December 18, 2011]
Chase Bank recently announced the redesign of its Visa credit cards - allowing more space on the front for the Chase logo. This new design is in trial mode currently but Visa has pans to roll out its new design to other financial institutions in order to increase the branding and logo visibility of the individual issuing banks.
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[Friday, October 28, 2011]
Debit and credit: they`re both plastic, why not consolidate them? The Cinncinati-based Fifth Third Bank, is the first to offer the DuoMasterCard which consolidates both a checking and a credit card account into one card.
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[Wednesday, September 21, 2011]
It really pays when you do the right thing. Take credit cards for instance, having a clean credit profile really does help. Those who managed to maintain a squeaky clean credit report during the recession can now jump with joy, as they will get some of the best deals from credit card issuers.
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