Posts belonging to Category Bank of America



Disclosures on credit card applications improve, study finds

Calendar August 14, 2010 | Posted by Martha C. White

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We here at WalletPop tell you over and over again to read the fine print in anything you receive from your credit card company, but a new study aimed to figure out just how forthcoming card companies are before you even get to the fine print. Website CardHub.com evaluated credit card applications from America's top 10 issuers to discover if you know what you'll be getting yourself into before you start squinting or have to pull out a magnifying glass.

"It's improved relative to what it used to be," Odysseas Papadimitriou, CEO and founder of CardHub.com, told WalletPop in a phone interview. Motivated by a combination of regulatory changes and consumer demand for easy-to-understand information, issuers today are responding by being more up-front about things like rates and fees.

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Category Categories: Bank of America, CARD act, Capital One, CardHub.com, U.S. Bank, credit cards

The next credit card battleground: rewards cards

Calendar April 12, 2010 | Posted by Lita Epstein

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Loyal reward card users should tread carefully. Make one misstep, such as a late payment or exceeding the credit limit, and you could lose your ability to redeem points. Even worse, if the credit card issuer decides to close your account for any number of reasons, you could end up losing all of your hard-earned points.

The Credit CARD Act reined in many of the all-too-common (and exploitative) practices employed by credit card companies, but rewards still remain one area that is loosely regulated. Card companies still have plenty of flexibility with the way in which they structure their rewards programs -- and many are using that flexibility to wipe out point balances for cardholders who don't follow the rules. The problem is that those rules are often buried in the fine print of a credit card agreement.

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Category Categories: American Express, Bank of America, Capital One, Discover, Rewards, citi, credit cards

Disguised credit card statements: How “junk” mail can destroy your credit

Calendar January 19, 2010 | Posted by Gina Roberts-Grey

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junkmailThe next time you're sorting out your mail, you'd better give everything a thorough scan before tossing out what appears to be junk mail. Some credit card issuers, like Bank of America, are sending cardholders their statements in plain white envelopes that appear to be nothing more than a solicitation -- or junk. And since the average American throws out their fair share of junk mail, many don't realize they could be tossing their credit score right into the trash.

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Category Categories: Bank of America, BankOfAmerica, Credit, CreditCard, CreditCardStatements, CreditCards, credit card, credit card statements, credit cards