Credit Card Rates Climb Again, Latest Industry Shakeup Adds to Uncertainty
‘Credit card rates rose for the fifth straight week, according to the IndexCreditCards.com weekly Credit Card Monitor. In addition, the latest step forward in the Bank of America/MBNA merger, coupled with Wachovia’s announced plans to begin issuing its own credit cards, promised to keep industry averages unsteady.
Credit card rates rose for the fifth straight week, according to the IndexCreditCards.com weekly Credit Card Monitor. In addition, the latest step forward in the Bank of America/MBNA merger, coupled with Wachovia’s announced plans to begin issuing its own credit cards, promised to keep industry averages unsteady.
“In a few months, the credit card landscape will look significantly different than it did just a year earlier,” says Justin McHenry, Research Director of IndexCreditCards.com. “Bank of America will likely have swallowed MBNA, Chase has already acquired Bank One. That’s major consolidation among the largest credit card issuers. At the same time, Wachovia has the potential to become a major player if it so chooses. The danger of too much consolidation could be balanced with the emergence of a large new issuer — it’s hard to know at this point what it will mean for consumers.”’
Read more at Credit Card Rates Climb Again, Latest Industry Shakeup Adds to Uncertainty
Recent Entries
- New Web Site Offers Free Analysis to Find the Best Rates for Credit Card Merchant Account Processing
- Hotel clerk accused of stealing guests’ credit card numbers
- Gov’t won’t lower top rates for credit cards in China
- Visa launches mini credit card
- Credit card scam plays on emotions
- Watchdog slaps warnings on drastic plastic credit charges
- DoCoMo, Mizuho Bank to team up in credit-card enabled cell phones
- Default fees cap could hit credit card firms for £400m
- CREDIT CARD SCAM …Over $100,000 made in illegal purchases
- Thailand Credit Card Market Becoming Saturated