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The word “bank” is derived from the Italian word “banca”, which comes from Germany, meaning “bench”. For banks to exist, they need to make a profit just as with any other business. For traditional brick and mortar banks, the majority of profit comes from fees charged for various financial services being offered, as well as interest being charged on loans, CDs, etc. While online banking also makes a profit through fees and interest charged, other ways are used as well.

For instance, thanks to technology, online banks have the ability to create affiliate partnerships whereby networking and sharing of information yields profits. Additionally, online banks can set up pages on their websites for information and tools such as articles and loan calculators. In this cas

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Chase, Discover unveil yet more enhancements to rewards credit cards by Peter Andrew

Wed love to report on some juicy behind-the-scenes goings-on at one of the major credit card issuers, but thats going to have to wait for another day. Because todays top story involves two recent improvements to rewards credit cards one from Chase and the other from Discover that deserve attention.

Chase turns rewards credit cards into travel rewards cards

Lets start with Chase, which has managed a form of plastic alchemy by turning three of its ordinary rewards credit cards into travel rewards cards. Well, sort of.

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Tags: Cards, Credit Cards, Rewards Credit, Rewards Credit Cards

The Credit CARD Accountability Responsibility and Disclosure Act was formed by the USA government to uphold the rights of credit card users and offer fair practice from credit card issuers.

The act was passed keeping in mind the consumer but also had provisions for banks to recover lost revenues. One of the biggest strong points of the Card act was the drop in over the limit and penalty fees. There was a considerable drop in percentage of the over the limit and penalty fees charged to the consumer after the Credit Card Act became effective. Post the Credit Card Act the average late payment fees dropped to $25 from $39. Even better was the drop in over the limit fees charges to card holders.

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Tags: Act, Credit Card