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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

A few years ago, I interviewed the author and cultural jedi Malcolm Gladwell and the conversation digressed on to first impressions. Gladwell was explaining, in trademark style, that he was no fan of job interviews – in fact, if he were to employ an assistant, he would take the CVs of the applicants, excise the ones that were clearly inappropriate, and then make the selection from a hat. “You pretend that you can make all these insights from meeting someone, but you’re lying to yourself,” he concluded. “We are too much in love with generating the impression from the person.”

I am reminded of this point when I meet Errol Damelin, the founder of short-term lender Wonga. In the mid-2000s, he made a realisation similar to Gladwell’s, but took his conclusions in a very different direction. A

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