Posts tagged "card issuers"

AT&T’s plan to combat card fraud

The carrier has launched a pilot program that would enable card issuers to confirm the location of participating customers when they travel abroad.
Bankrate.com » Credit Cards

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Posted by CCB - June 11, 2014 at 6:00 am

Categories: Credit Card News   Tags: AT&T’s, card, card issuers, combat, fraud, pilot program, plan

Scammers ‘Te’o’ card issuers

Eighteen people were charged with conjuring up identities to get credit cards and stealing $ 200 million from card issuers.
Bankrate.com » Credit Cards

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Posted by CCB - August 24, 2013 at 12:58 am

Categories: Credit Card News   Tags: ‘Te’o’, card, card issuers, credit cards, issuers, Scammers

Many Don’t Understand Credit Card Rewards

Over one-third of credit card users are either unaware of or do not completely understand the benefits associated with their cards, according to the J.D. Power 2013 U.S. Credit Card Satisfaction Study. Study results indicate that 59% of consumers said they completely understand their card rewards. That’s a decrease from 66% in 2012.

Jim Miller, senior director of banking services at J.D. Power, wrote, “Customers who use their card’s benefits spend an average of $400 more per month on their card, compared with those who are aware of benefits but do not use them, so clearly this is an area of importance to card issuers.”

The study found that 53% of consumers did not completely understand the terms of their credit cards. Of that group, 73% said they were unclear about interest rates and 31% said they didn’t understand late payment fees.

J.D. Power has measured customer satisfaction with credit cards since 2007, analyzing six components: interaction; credit card terms; billing and payment; rewards; benefits and services; and problem resolution.

For the fourth consecutive year, the study shows an improvement in satisfaction with a score of 767 on a 1,000-point scale. The score in 2012 was 755.
In terms of the highest-scoring providers, American Express maintained its 7-year streak in the top spot with 816 points, as a result of its strength in rewards and benefits and services, the press release said.

Discover is second with 812 points, and Chase is third with 783 points.

Those who take advantage of credit card rewards and benefits enjoy such things as free or reduced air travel and free car rental insurance usually not available when paying bills with other types of plastic such as prepaid cards and debit cards.

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Posted by CCB - August 23, 2013 at 3:41 pm

Categories: Featured   Tags: card issuers, credit card, credit card benefits, Credit Card Rewards, credit card satisfaction, credit cards, highest scoring credit card providers, J.D. Power survey