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Credit Card Marketing

Welcome to the News View for "Credit Card Marketing".

Here, on these archive pages, you'll find all of the articles on Payments News for Credit Card Marketing listed in date sequence beginning with the most recent article at the top of the page.

Click here for a complete listing of what's available in the Payments News Archive - organized by both posting date and subject category.

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December 18, 2013

CFPB Calls on Financial Institutions to Publicly Disclose Campus Financial Agreements

publicly disclose agreements with colleges and universitiesCfpb logo 140x60pxIn an announcement yesterday, the Consumer Financial Protection Bureau (CFPB) called on financial institutions to "to market debit, prepaid, and other products to students. Currently, institutions only make these disclosures about college credit cards."

Students and their families should know if their school, whether well-intentioned or not, is being compensated to encourage students to use a specific account or card product,” said CFPB Director Richard Cordray. “When financial institutions secretly give kickbacks to schools, they are engaging in risky practices.”
CFPB noted that a lack of transparency in the student loan and credit card markets led Congress to enact reforms to help the public better understand the marketing partnerships between colleges and lenders.

July 22, 2010

Pew Report Finds Credit Cards More Transparent, Yet Problems Remain

Most of the practices deemed "unfair" or "deceptive" by the Federal Reserve have disappeared from new credit card offers since federal passage of the Credit CARD Act last year, according to a new report by the Pew Health Group's Safe Credit Cards Project. "Yet new trends have emerged that could cost cardholders significantly."

The report finds that issuers have eliminated practices such as "hair trigger" penalty rate increases (disproportionate charges for minor account violations), unfair payment allocation, and raising interest rates on existing balances. However, Pew's research also highlights a sharp rise in cash advance fees, continued widespread use of other penalty interest rates and an emerging trend of credit card companies failing to disclose penalty interest rates in their online terms and conditions.
Full details, including previous research, can be found at http://www.pewtrusts.org/creditcards.

June 07, 2010

Barclaycard Announces Credit Card Issuing Agreement with NFL

Barclaycard US has announced an exclusive multi-year agreement with the National Football League to market credit cards bearing the NFL shield logo and the logos of each of the 32 NFL clubs.Fans may obtain these credit cards from Barclaycard starting in September via the web, at stadium displays, through in-bound telephone applications and via email and direct mail invitations." READ MORE »

December 07, 2009

Retailers Concerned About Proposed Fed Rules re: Instant Credit at POS

In an article titled "Hurdle Emerges for Stores Pitching Credit Cards", Robin Sidel writes for the Wall Street Journal about concerns that some major retailers have with proposed Federal Reserve regulations that would "force retailers to gather more financial information from customers— including how much they earn— before giving them credit."

September 14, 2009

US Credit Card Issuers Focus on Premium Cards and Cardholders

In an article titled "Turning to Premium Credit Cards", Alex Mindlin writes for the New York Times how US credit card issuers are focusing their solicitation efforts on premium cards - including the MasterCard World and Visa Signature cards.

August 25, 2009

An Update on Student Credit Cards

In an article titled "Final Semester for Credit Cards Aimed at Students?" in this morning's American Banker, Maria Aspan writes about the new rules affecting marketing of credit cards to anyone under 21 that take effect next February as part of the Credit Card Accountability, Responsibility and Disclosure Act. Between now and then, Aspan writes, "some industry members expect to see issuers conduct business as usual when marketing and issuing to students — if not accelerating their efforts."

April 10, 2009

Pew Report on New Standards for Safe Credit Cards

Last week, the Pew Charitable Trusts’ Safe Credit Cards Project released a set of standards "designed to prevent deceptive and dangerous credit card practices and called for legislation to outlaw such practices. Developed in partnership with the Sandler Foundation, the Safe Credit Card Standards icon_PDF_small.gif seek both to protect consumers and preserve banks’ ability to manage risk when extending credit." READ MORE »

February 05, 2009

US Credit Card Issuers Reduce Mail Solicitiations

New data from Mintel Comperemedia shows that only 5.4 billion credit card direct mail offers were sent to Americans in 2008. According to the company, this is the lowest annual total the firm has reported since 2000. READ MORE »

January 05, 2009

US Credit Card Issuers Reduce Online Marketing Efforts

Maria Aspan writes for the American Banker that US credit card issuers have not only been cutting back on direct mail solicitations but, beginning in November, most of the major US issuers have reduced their efforts to source new accounts from online lead generation sites and online advertising.

December 24, 2008

CardPartner Helps Small Groups Launch Affinity Card Programs

CardPartner, a New York-based company that works with nonprofits and other groups to offer branded Visa credit cards, has announced 12 new affinity credit card programs this week. This is in addition to more than 100 launched in the last nine months for nonprofits as diverse as Gilda’s Club New York City and Guide Dogs for the Blind. READ MORE »

October 27, 2008

comScore Reports Online Credit Card Applications Declining

comScore has announced results of a study of the online credit card industry, based on both passively-observed online behavioral data as well as a survey of more than 2,000 Internet users conducted in September 2008. "Study findings revealed that for the first time in the five most recent quarters, the total number of credit card applications submitted online at the top ten credit-card issuer sites declined, dropping 6 percent in Q2 2008 versus the same period in 2007." READ MORE »

October 22, 2008

An Unrivaled American Lending Machine

Continuing its series titled "The Debt Trap", Brad Stone writes in today's New York Times about how some credit card issuers target potential borrowers - including those who may have just exited bankruptcy - by using personal data provided by a number of information providers. Stone writes that "this marketplace for personal data has been a crucial factor in powering the unrivaled lending machine in the United States. European countries, by contrast, have far stricter laws limiting the sale of personal information."

October 12, 2007

US Credit Card Mail Offers Expected to Reach 5.3 Billion In 2007

US households will receive approximately 5.3 billion offers for new credit cards during 2007 according to Mail Monitor, the credit card direct mail tracking service from global market research company Synovate.

READ MORE »

September 28, 2007

A Look at Chase's Credit Card Marketing on Facebook

In an article titled 'For-Credit Course", Rob Walker writes for this Sunday's New York Times Magazine about Chase Card Services "+1" credit card - offered primarily by way of a sponsored group setup on Facebook called Chase +1. Chase limits access to the group so that only Facebook members who are part of college networks can join. Chase also has a Chase Credit Education group on Facebook that is open membership.

August 21, 2007

Barclays U.S. Credit Card Business Passes $5 Billion Receivables

Barclays has announced that its U.S. credit card business has passed the $5 billion mark in credit card receivables, calling itself "the fastest growing major credit card issuer in the United States."

READ MORE »

January 24, 2007

November 27, 2006

Experian, First Manhattan Launch Segmentation and Scoring System

Experian and First Manhattan Consulting Group have announced the launch of Financial Personalities, a segmentation and scoring system for specific types of financial services, including credit card, home equity and mortgage. According to the companies, "Financial Personalities provides marketers of lending products with a unique set of tools to improve customer and prospect targeting, better align products and offers and tailor messaging to appeal to prospects.

READ MORE »

November 06, 2006

Austin Ventures Recapitalizes CreditCards.com, New CEO Named

Austin Ventures has announced the recapitalization of CreditCards.com, an online destination for consumers to search, compare, and apply for credit cards. Additionally, Elisabeth DeMarse, former CEO of Bankrate, the Internet's leading aggregator of financial rate information, was named CEO of the company.

READ MORE »

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