Discover has apparently removed the cap on its balance transfer fee. According to a Los Angeles Times article on how credit card issuers are tightening credit standards and cutting credit limits, Discover Financial Services removed the cap on the maximum fee that it would charge for balance transfers on November 1st.
For those that aren’t familiar [...]
A New York consumer is facing a lawsuit from Citibank to recover an interest rate of 56 percent on cash advances, according to WCBS.
A Las Vegas consumer owes ~ $1,200 on a credit card that she never used, according to the Herald-Leader.
The Epoch Times has an article about the new credit card reform proposals - but it is the couple credit card statistics in the article that are very interesting to me.
Credit card companies spent $1.2 billion in the first three quarters of 2007 on advertising alone.
Credit card companies took in $18 billion in penalty fees [...]
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