On Wednesday the Senate Permanent Subcommittee on Investigations holds the first of several hearings to examine business practices of the credit card industry, focusing on how credit issuers apply interest rates and other fees.
On the legal side of business, I still get a stream of credit card solicitations from the big banks via direct mail, and not via e-mail (partly for security issues).
This has been a source of pain for credit card payment companies as well as banks as the credit card business represents a sizable part of their business models and the mobile payment systems were often advertised as significantly cheaper alternatives to the card payment systems.
FORBES: BofA Is Sick Of Square, Rolls Out New Mobile Payment System
The truth is that the bank's bosses worry that the untried debit card might cannibalise some of its highly profitable credit-card business.
Caixabank has begun searching for a partner who would buy part of its Spanish credit- and debit- card business, the latest indication of a selling spree by Spanish banks to raise capital.
There are also conditions that can both hamper and help the future growth of the credit card business.
FORBES: Check Out These Indicators Before You Invest In Credit Card Companies
Tired of earning profits through conservative business loans, the bank branches out with an aggressive purchase of credit card clearing company in Miami, ICon.
FORBES: Author Scott Hilsen On His New Book "Fraudulent Intention$"
"They are like a partner in my business, " he says of the credit-card networks and bank issuers.
This is key because if you carry a balance on a business card you could all of a sudden find yourself having to make higher monthly credit card payments simply because your credit card company suddenly chose to increase profitability with a surprise interest rate adjustment.
FORBES: How Personal Credit Cards Can Outperform Their Business Counterparts
Fierce competition in the credit card business and a wave of huge mergers concentrated the industry in the hands of a few major players: Citigroup, JPMorgan Chase, Bank of America, Capital One Financial and American Express.
Purcell pushed Mack out in 2001 and retained control of the firm until the spring, when he faced unrelenting pressure from shareholders to divest the firm of the underperforming brokerage business and the credit-card unit and focus the firm back on its core strength: institutional securities.
Of all the demands of running a business, shopping for a competitive credit card processor might seem trivial.
The bank is exploring a sell-off of its branches and credit-card business in America, to refocus on corporate banking there.
For those purchases that you will pay off in full each month, a business credit card is the best option because of its numerous inherent advantages.
FORBES: How Personal Credit Cards Can Outperform Their Business Counterparts
In my view, the ruling essentially brings a heavier dose of the free market to the credit card business in that it will let merchants offer discounts and special deals to customers depending on which piece of plastic they use to pay for things.
Then, at the end of the month, Insider Pages charges the business's credit card for the calls.
It is unfortunate, but the CARD ACT precludes the universal recommendation of business credit cards for business purchasing.
FORBES: How Personal Credit Cards Can Outperform Their Business Counterparts
Ms. KATHY CHU (Business Reporter, USA Today): Almost a trillion dollars of credit card debt is out there right now.
The total service fees that Bank of America earns from its debit and credit card business was relatively stable prior to 2009 aided by high interchange fees and card fees in the US relative to the rest of the world, which helped generate strong revenues for the card industry.
FORBES: Bank Of America Bleeds Card Fee Income, Stock Should Still Be $16
It retains a vast credit-card and mortgage-origination business, both of which are gold mines in less desperate environments but which require lots of committed staff.
It removes credit card companies, banks and payment processors from the business of censoring legal fiction.
The recession left a vast legacy of foreclosures, personal and business bankruptcies, debt-collection and credit-card disputes.
Datacell, based in Iceland, says the credit card companies withdrawal of funding services threatens its own business.
FORBES: Morning Tech Wrap: Google Chrome, MasterCard Hacked, IE9
Without access to credit card payment, illegal drug dealers are out of business.
Citigroup has said its portfolio of retail credit-card loans isn't a core business.
You need to set up a corporate structure, hire a book keeper, separate the business money from your personal expenses (corporate bank account, business credit card etc.) You should be on top of the financials from day one.
FORBES: David Bach on How to Build a Career Without Going Broke
Returns on the Dean Witter end of the business are poor, and Mr Purcell said recently that the credit-card business would be spun off.
The securities business currently provides the bulk of the firm's profits, while the brokerage and credit-card sides are lagging.
One particularly sneaky way to get around the difficulty of qualifying for a credit card is to treat staying at home as a business.
Dorsey has an artist friend, a glassblower, whose business was too small to justify the monthly fees and confusing rules and rates of a traditional credit card swipe machine.
WSJ: Simplicity and Order for All | Innovator of the Year 2012 Technology
应用推荐