Tag: Credit Card Usuage

November 1, 2011 B.J. Kharrazi

When you make a credit card purchase for $100, it costs the merchant about $1.00 in processing fees. It’s unclear why card issuers think they deserve a 2% cut. Most of the attention in recent months has been focused on fees for processing debit cards.  However, in early July, the Federal Reserve limitedd the base more »

May 25, 2011 B.J. Kharrazi

Remember those old Visa commercials used to highlight places where they “don’t take American Express.” Well for legal medical marijuana dispensaries, it looks like a reversal: American Express won’t take them. As of late April, paitents using their American Express cards topurchase medical marijuana received notice that their cards were declined. The rejection of the more »

February 7, 2011 B.J. Kharrazi

According to the Federal Reserve the first increase in credit-card debt since the financial crisis hit helped to boost overall consumer borrowing 3 percent in December, to a seasonally adjusted annual rate of $2.41 trillion. Americans are putting more money on their credit cards after more than two years of cutting back, a sign that more »

August 28, 2010 B.J. Kharrazi

More people are paying down their credit card balances. AP reported that the amount consumers owed on credit cards in the second quarter “dropped to the lowest level in more than 8 years.” According to figures provided by TransUnion, the average combined debt for bank-issued credit cards dropped to just under $4,951 in the three more »