Less is more: Issuers cutting back on niche credit cards
Updated: 2010-04-30 06:45:50
"Would you like a credit card with that?"
Credit cards have been served up like French fries at fast-food restaurants.
That's about to change. According to a recent article in the Wall Street Journal (subscription required) about Chase dropping the Starbucks Duetto Visa card, credit card issuers are "pulling the plug on some of the specialized, reward-loaded plastic they pitched to consumers when credit was easy and wallets were wide open."
Just as eating too many fries clogs your arteries, too many credit cards have caused financial arrest. The explosion of niche-branded cards -- whose rewards are tied to a specific brand or product -- has imploded consumers' bank accounts.
: Living with credit 288 New , interesting products 73 Research , regulation , industry reports 191 Rewards 29 Protecting yourself 125 The fine print 45 Credit card miscellany 313 Print Email Emily's list : Eyjafjallajokull edition Emily Starbuck Gerson April 22, 2010 Living with credit Unless you've been in a coma for the past week , you know that a volcanic explosion in Iceland on April 14 rocked Europe . Flights were grounded for nearly a week in more than 20 countries , leaving countless travelers across the globe stranded , many of whom had to sleep on cots at airports and live on a diet of airport food while running up their credit . cards Those with travel insurance fared better than those without , but it was a pickle for everyone . Some countries resorted to sending boats to
: Living with credit 280 New , interesting products 73 Research , regulation , industry reports 189 Rewards 27 Protecting yourself 123 The fine print 43 Credit card miscellany 310 Print Email Emily's list : 1 billion debt edition Emily Starbuck Gerson March 17, 2010 Living with credit When most of us find ourselves so incredibly deep in debt credit card or otherwise there's not much we can do . If we're lucky , our creditors will work with us to make a deal and lower our interest rate or give us more time to pay off what we owe . Rarely is debt ever just forgotten or canceled that is , unless you are an impoverished country . It's been announced that a group of countries are canceling about 1 billion of debt that Afghanistan owes them . In March 2009, Afghanistan's public debt was
: Living with credit 284 New , interesting products 73 Research , regulation , industry reports 190 Rewards 28 Protecting yourself 124 The fine print 44 Credit card miscellany 312 Print Email Emily's list : Pay your utility bill edition Emily Starbuck Gerson April 2, 2010 Living with credit If you've ever defaulted on a loan or credit card , you have likely had creditors knocking on your door . If you fail to pay what you owe , many creditors hire private debt collection agencies to chase after you and try to recoup some of that cash , even if it's just pennies on the dollar . But what happens if you fail to pay your city's water or trash bill The practice of hiring debt collectors was primarily reserved for private companies , but things have changed in this shaky economic climate .
Seven of the best personal finance bloggers on the Web agreed to a group interview, and I'm happy to present it here.
Learn their tips for smart credit card use, best ways to pay down debt, find out their thoughts on the CARD Act and whether it's possible to live without a credit card.
It's a varied group, from FreeFromBroke to TheDigeratiLife to Man Vs. Debt to Mr. Credit Card, and so I'm not at all surprised they disagree on some issues. The one thing they have in common is a passion for figuring out personal finances. I learned some things and hope you will too!
: Living with credit 283 New , interesting products 73 Research , regulation , industry reports 189 Rewards 28 Protecting yourself 123 The fine print 43 Credit card miscellany 311 Print Email Emily's list : Pay more to look like Jersey Shore' edition Emily Starbuck Gerson March 26, 2010 Living with credit The biggest news to take place last week and the past few months is the passage of the health care reform law . Once everything is finalized and in place , the controversial law should ensure coverage for more Americans , lower premiums and lessen discrimination for gender and preexisting conditions . The cast of the Jersey Shore showcasing their signature , yet slightly manipulated , tans . The price tag for the bill is a whopping 940 billion , according to the Congressional Budget
Home Credit Cards Blog Tips Advice Marketing Gimmick of Free Credit Reports Costs Consumers Marketing Gimmick of Free Credit Reports Costs Consumers Thursday , April 29th , 2010 In the past few months massive changes to credit card legislation have been implemented in an effort to protect consumers from the historically unregulated practices of the credit card industry . These regulations have caused a shift in how credit is gained , earned and managed on all ends . The bottom line is that consumers have to pay better attention to spending to avoid debt and lenders have to be reasonable , ethical and upfront about fees , charges and changes to credit card . agreements It is unfortunate that it took legislative reform to get the credit conditions headed in the right direction . What is
Home Credit Cards Blog Card Security Rapid Alerts Forms Partnership to Fight Fraud Rapid Alerts Forms Partnership to Fight Fraud Monday , April 26th , 2010 Fraud is one of major issues that face consumers today . The rise of the internet and technological advances in payment systems , although convenient , can come with a price . Confidential and highly sensitive information has never been more prevalent in cyberspace . Hackers and thieves who are technologically savvy can and have found ways to break into even the most secure systems . More than ever before , cardholders and credit card companies have a shared responsibly to protect sensitive information from getting into the wrong . hands The best thing that credit card companies and merchant accounts can do is secure the systems they
Home Credit Cards Blog New Card Offers Different Credit Card Options for All Credit Levels Different Credit Card Options for All Credit Levels Friday , April 23rd , 2010 Card Options for Excellent Credit Escape by Discover Card Those with excellent credit history can benefit from the new Escape Discover card . This card is especially designed to provide rewards specific for those who travel often . It serves as a credit card with enhanced benefits for travelers . There is a 0 APR on balance transfer for the first six months . A quick application and approval process without interest until the end of the billing period . If travel is something you do often and your credit rating is in good standing this is a great option for . you Platinum Card by American Express No preset spending limits 
Home Credit Cards Blog New Card Offers Separating The Good From The Bad Card Offers Separating The Good From The Bad Card Offers Wednesday , April 21st , 2010 Credit card offers can be found anywhere and everywhere these days . The offers are sent out in mass mailings in hopes that someone will bite . The truth is that the mass mailings have proven to be an effective way for credit card companies to land new . customers Separating the good from the bad card offers can be tricky . The solicitations typically advertise the best that the card has to offer . For the most part , the advertisements use general terms to describe what they may be able to offer , these are not necessarily promises of what they will offer to you . The real offer comes after someone actually applies for the offer .
Home Credit Cards Blog New Card Offers Comparison Shopping Citi Platinum Versus Discover More Comparison Shopping Citi Platinum Versus Discover More Tuesday , April 20th , 2010 Unsolicited credit card offers make choosing and applying for a credit card very easy these days . With so many offers to choose from the hard part is sifting through all of the information and deals to choose a card that has the benefits and features that best meet the needs of the cardholder and provides the lowest fees and the maximum amount of perks . Weather you have solicited a card offer or just happen to receive one in the mail , comparing and contrasting the benefits of the offer is the best starting point to choosing a . card People with good credit have unlimited choices of credit cards Those that have
, Home Credit Cards Blog Card Security Cash , Bank Receipts and Cleavage Oh My Cash , Bank Receipts and Cleavage Oh My Monday , April 19th , 2010 Recently near Spokane , Washington , local police were tipped off to some fraudsters trying to use suspect credit cards in a local bank . While at the bank they tried to obtain money using a stolen card and a phony Oregon driver’s license . The three intrepid fraudsters , two women and one man , were taken to the local sheriffs department where they were searched . The fraud ring was busted when it was revealed that one accomplice had 26,000 stuffed into her bra During the search process at the Spokane County Jail , guards found that the 6 feet tall , 400 pound , twenty four year old Lukeisha Harris , had stuffed the cash and bank receipts down
Home Credit Cards Blog Card Security How to Quickly Spot Fraudulent Charges How to Quickly Spot Fraudulent Charges Saturday , April 17th , 2010 In light of the recently passed CARD Act legislation there are changes being made on credit card statements , such as an analysis of how much time it would take to pay off balances using minimum payments and how much to pay on your credit card to enable payment in full within three . years What the CARD act doesn’t talk about is the lengthening of credit statements or the ability to determine illegitimate charges on these statements . As the monthly statements get harder to read , more consumers are likely to miss the fraudulent charges because there is just too much going on within a . statement Small Charges , Big Deal Credit card account holders
Home Credit Cards Blog Debt Consolidation No Nonsense Advice on Overspending No Nonsense Advice on Overspending Thursday , April 8th , 2010 If overspending is an addiction , it can be a difficult habit to overcome . Investigating self help programs can be helpful for some individuals . An international program called Debtors Anonymous has developed a 12 step program to assist people with overspending addictions . Whether or not you have a legitimate overspending issue is up to you to decide , but there are several no nonsense tips and advice on overspending that we can provide that just might . help Cutting Back on the Luxuries It is not just the middle class that is getting hit by some of the cut backs that are occurring . The upper class executives are also paring back on luxuries . As
Home Credit Cards Blog Tips Advice Separating the Card Winners from the Losers Separating the Card Winners from the Losers Wednesday , April 7th , 2010 Credit cards have been a major contributor to the American debt . Despite the tips and warnings alerting people of the dangers associated with credit cards , debts continue to mount from the excessive use of credit . Responsible spending and modest use of credit are the best way to keep debt at an arms length . Unfortunately , the threat of debt is a consequence that is given little thought when the benefits of free bonus offers are tied in to a credit card offer that looks too attractive to pass . up The Attractive Offer Everyone has seen the too good to be true credit card offers that circulate in every direction . The offers pop up