Playing With Cash ?? That So passe !

American consumers are abandoning cash and paper checks for cards and electronic payments. Between the years 1989 and 2006, the nation’s total credit card transactions increased from about $69 billion a year to more than $1.8 trillion.* According to the Nilson Report, more than half of U.S. consumer purchases are paid for via credit card, compared to 36 percent in 2003.

Credit Card Reform Will Also Retail Credit Promotion

Credit Reform Will Also Affect Retail Credit Promotions

In May of this year, President Obama signed the much touted Credit Card Accountability, Responsibility, and Disclosure (CARD) Act. Though the crux of all this credit reforming was to prevent credit card companies from swindling the money away from their customers, the truth is that they were not the only targets. According to the new legislation, those in-store retail credit offers are considered credit cards, and as such, they fall under the same regulation.

California Debates Debit Card Check Out Fess

Over the past few months, a standoff of sorts has been developing between California consumers and some of the state’s retailers. At issue is the swipe fee some retailers charge everytime a customer chooses to pay with his or her debit card. Consumer advocates claim that these retail businesses are taking advantage of what many see as a gaping loophole. According to California law, businesses are prohibited from applying checkout fees to purchases paid for with a credit card, but as of yet debit cards are excluded.

Debit And Prepaid Card are Cunsommers' New Darlings

Debit and Prepaid Cards Are Consumers’ New Darlings

In the wake of the recent Credit Reform Act and persistent economic woes, consumer appetite for credit has reached an all time low. Instead of relying on the buy now, pay later model,