Delta Seeks New Customers with Launch of No-Annual-Fee Credit Card

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Delta Airlines announced today a new American Express credit card with a bit of a twist: no annual fee. The new Blue Delta SkyMiles Credit Card is targeting less-frequent travelers who want travel rewards but aren’t willing to pay extra to carry a credit card that delivers them.

The Blue Delta SkyMiles card satisfies this segment of the market by offering nice rewards for the occasional traveler while not bothering with the extra travel perks that its more expensive credit cards offer.
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PayPal Launches 2% Cash Back Credit Card

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PayPal has launched a new credit card, the PayPal Cashback MasterCard, that offers a flat 2% cash rebate on all credit card purchases. This formula catapults PayPal’s credit card into the top tier of cash back cards on the market.

If there’s a “catch” to the new PayPal Cashback MasterCard, it is that the cash rebates you receive go directly into your PayPal account, so you will have to either use them to cover PayPal purchases or have the money rolled into your bank account via PayPal. Either way, this feature means you must have a PayPal account in order to get the new card.
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Citi Prestige Hikes Bonus Opportunity to 75,000 Points

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Citi has struck the latest blow in the luxury credit card wars, significantly increasing the size of its signup bonus opportunity for new Prestige cardholders. However, that bonus will also be more challenging to get.

New cardholders who spend at least $7500 with the Prestige card in the first three months of having it will get a bonus of 75,000 Citi ThankYou points, which Citi says is worth “more than $935 when redeemed for air travel through the Citi ThankYou Travel Center.” The previous bonus opportunity was 40,000 points after $4000 in purchases within three months.
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CFPB Bans Mandatory Dispute Arbitration, But It May Not Last

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The Consumer Financial Protection Bureau (CFPB) yesterday banned credit card companies and other financial companies from putting mandatory arbitration clauses in their contracts, thereby allowing consumers to band together in class-action lawsuits against these companies. But the CFPB has been under attack by Republican lawmakers, and the ban could very well be repealed.

Financial companies have long used mandatory arbitration as a way to settle disputes with their customers, saving themselves millions of dollars in legal fees and restricting consumers’ ability to sue them for damages. (In arbitration, both sides of a dispute are presented and an arbitrator or arbitrators essentially act as judges in determining how the matter should be resolved.) In particular, the clauses prevent consumers from banding together to sue, commonly known as class-action lawsuits.
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Buckle is Latest Retailer to Suffer Credit Card Breach

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, rahulgandhi, [email protected]

Clothing retailer Buckle announced Friday that a breach in its retail store payment systems may have led to customer credit card data being stolen. The breach was in physical stores only, not at the Buckle online store.

Buckle found malware (malicious software) on some retail store location point-of-sale (POS) systems, which may have led to account numbers, expiration dates, and account holder names being stolen. Buckle believes the malware functioned from October 28, 2016 to April 14, 2017.
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BankAmericard Debuts a No-Fee 0% Balance Transfer Offer

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Bank of America has tweaked the features of its flagship BankAmericard, with the big change being that balance transfers made to the card in the first 60 days after account opening will have no balance transfer fee. Once a balance transfer is made, that balance can sit for 15 months without accruing any interest.

BankAmericard becomes the second major credit card to offer a no-fee 0% balance transfer, matching the Chase Slate card’s 15-month 0% offer. Both cards also offer a 0% rate on new purchases for 15 months as well.
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American Express Launches Blue Business Plus Card

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American Express announced today the launch of a new small business credit card offering 2 Membership Rewards points for every dollar charged to the card (on up to $50,000 per year). The Blue Business Plus Card also offers a 0% interest rate on purchases and balance transfers for the first 15 months after acceptance. (Transferred balances will incur a 3% fee, however.)

Cardholders who spend more than $50,000 on the card in a year will drop down to earning just 1 point per dollar on those purchases over $50K.

The Blue Business Plus Card has no annual fee. The interest rate on the card will depend on an applicant’s credit history, with potential rates offered being 11.99%, 15.99%, or 19.99%.
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Capital One Quicksilver Users Now Get 50% Rebate on Spotify Premium

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Capital One is giving current and potential cardholders who love music a good reason to use their Capital One Quicksilver credit cards: a 50% rebate on Spotify Premium.

From now through April 30, 2018, Spotify Premium customers who pay for their subscription with a Capital One Quicksilver or QuicksilverOne credit card will automatically get half of the cost rebated back to them as a statement credit.
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Walmart Ends “Deferred Interest” Credit Card Promotions

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Walmart announced last week that it would no longer offer 0%-interest credit card promotions that use a “deferred interest” model. With “deferred interest” offers, credit card holders can finance larger purchases at a 0% rate for a set period of time (usually 6 or 12 months), but they must pay off the complete balance within that promotional period or all of the interest that would’ve accrued since the date of purchase suddenly gets added to the bill.

As a blog post from Walmart’s Daniel Eckert points out, using a 12-month period as an example, “…even if you have just a fraction of the purchase price left to pay on day 366, you could owe 12 months’ worth of interest based on the balance. That means your wallet could take a significant hit.”
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