Taxpayer-owned Lloyds Banking Group is pulling out of the charity credit cards market, because it says that offering cards that donate to good causes is “no longer cost-effective”. 
The company has been offering these cards for over 23 years, but has written to customers informing them that their charity cards will be replaced by standard credit cards that do not offer a charity donation.
The charities hit by the withdrawal include Cancer Research UK, which has received over £15m from the credit cards. as well as the NSPCC and the Scottish SPCA. Lloyds said it had offered to help each charity find a new issuer “should that be the route they wish to pursue in the future”.
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Some common kinds of credit card fraud acts include stolen credit cards, obtaining access to credit card information and identity theft. Usually in such a case, contacting credit card providers promptly to secure the credit card account and avoid further thievery can solve the problem. Government regulations eradicate or decrease a credit card fraud victim from monetary accountability for illicit charges or purchases. Consumers can help locate credit card fraud by closely examining their credit report frequently and probing credit card account receipts for factual errors.
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Average credit card spend has fallen four per cent over the past 12 months, according to new analysis of customer spend data by Santander Credit Cards. The data reveals that while the total number of transactions made per regular card user has increased by one per cent over that time period, the value of transactions per card user has decreased.
The majority of the retail sector has seen decreases in the value of spend, resulting in an average reduction of 5 per cent per card user over the year. Sports and toy spending has been worst hit, with a massive 24 per cent reduction in the value of card spend per user over this period and clothes stores with a 6 per cent decrease.
Customer card spend on holidays also has decreased, with the amount spent on travel agencies down 13 per cent year on year, airlines down 9 per cent and hotels down 4 per cent.
By contrast, people are still spending on little luxuries like eating out – restaurants and bars have seen a 4 per cent increase in value of spend per user. Mail order is also defying the downturn with the biggest increase in card expenditure of all, showing a 22 per cent uplift in the number of transactions per card user and an 8 per cent increase in the value of spend in this sector.
Callum Gibson, Managing Director at Santander Cards, commented: “During times of austerity, youd expect cut-backs to hit non-essential items like holidays and clothes, and our customer data supports this. How
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Verizon Wireless has announced plans to implement a charge for customers who choose to pay wireless bills via debit or credit card over the internet using Verizon bill pay or phone.
The new $2 “convenience charge” instituted by the nation’s largest wireless company will go into effect on Jan. 15.
Verizon Wireless Credit Card Fee
According to Verizon Wireless, the new convenience charge is meant to address an issue that the wireless provider has with costs incurred during single bill payment options.
When a customer makes a one-time payment, rather than allowing for a recurring billing option, the company says it suffers greater losses. In a s
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Diners at some of New York’s most popular restaurants had their credit card details stolen by waiters working for gangs who targetted American Express black cards then spent millions of dollars on luxury clothes and vintage wine, it is alleged. 
By Jon Swaine, Washington
10:42PM GMT 20 Nov 2011
The cards of wealthy customers at Smith and Wollensky’s, Capital Grille and Wolfgang’s steakhouses were allegedly “skimmed” and used to buy Rolex watches, Jimmy Choo shoes and Chanel handbags.
Almost 30 people have been charged with crimes including racketeering, conspiracy and grand larceny, after the alleged fraud ring was broken by police in Manhattan.
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U.S. Senators Jack Reed (D-RI), Charles E. Schumer (D-NY), Bill Nelson (D-FL), and Robert Menendez (D-NJ) sent a letter earlier this week to the Federal Reserve urging it to crack down on credit card companies who, the senators say, are surreptitiously marketing business credit cards to consumers in an attempt to avoid the new protections surrounding credit card billing practices that were put in place last year.
These protections do not apply to business credit cards, and the problem, the democratic law makers say, is that the credit card companies are not clearly identifying their marketing material as being for business credit cards and that anyone can get one.
In a press release, the senators wrote that a recent study done by The Pew Charitable Trusts revealed “that over ten million business credit cards are offered to consumers every month – the majority of which have terms that would be illegal in consumer cards.”
In their letter, the senators asked the Federal Reserve to immediately begin requiring that companies offering business credit cards clearly state in all correspondence and marketing material that the card being offered is a business card and does not have the same protections that consumer cards do. Also,
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In the latest Wealth Workout we look at how the newest cashback credit card measures up. 
Petrol prices have increased by 20p a litre in the last year alone – so wouldn’t it be nice if someone gave you cash back on essential fuel bills? Now the AA is doing just that with its new AA Reward Plus credit card.
Previously only for AA customers, the breakdown company is now letting anyone apply for its rewards card, which gives you 3pc cashback on fuel spending.
We look at how it stacks up against other cashback cards.
AA offers rewards to all
The AA Reward Plus credit card offers 3pc cashback on fuel purchases and 0.5pc cashback on all other spending but, until this week, was available only to AA members. <
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Discover Financial Services reported last Friday that holders of its credit cards were doing better than at any time in the past 25 years with the delinquency rate for credit card loans over 30 days past due dropping to a record low of 2.79%. The company also said that the charge-off rate for its cards dropped to 5.01%.
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The news was also positive for the company itself with a reported net $600 million income for the second quarter of 2011. This is more than a 100% year-over-year increase from its reported net income of $258 million for the same quarter last year.
In addition to the positive credit card news, the financial services company shared other highlights. At $25 billion, Discover card sales volume grew by 9% since the same period last year.
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Like any powerful financial instrument, credit cards can be used in several different ways. As their name implies, they can used as a means of finance. By always paying off balances in full and on time, they can also be used solely as a means of payment. In the right hands, credit cards can represent a uniquely valuable way of earning rewards.
Regular readers who read my recent article about the credit cards in my wallet know that I hold many different reward cards and I use them to earn heavily discounted travel for my family. The benefits I obtain can only be realized when people like me pay their credit card balances in full and on time every month.
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