Blake DiCioccio and her husband, Jason, flew around the world in business class in 2017, from San Francisco to Taipei, Tokyo to Belgrade, and Frankfurt back home. They didn’t pay for it. JPMorgan Chase & Co. did. The DiCioccios signed up for two Sapphire Reserve cards from the bank several months before their trip, on an offer that scored them hundreds of thousands of points, which they combined with points from their other rewards cards. They use credit cards as much as possible—even for small purchases—and strategize... … [Read more...] about Rewards Credit Cards Gained a Fanatic Following—Now Banks Are Pulling Back
Rewards business credit cards
Every time a credit or debit card is swiped or a website’s "buy" button clicked, a series of events moves money from consumer to merchant. The process costs retailers almost $90 billion in fees each year -- and banks, payment networks (such as Visa Inc. and Mastercard Inc.) and payment processors (such as First Data Corp. and Worldpay Inc.) fight intensely for a share of that. Now startups and other companies are seeking to siphon a portion of these fees, while retailers are coming up with ever-more-creative ways to lower the amount they pay.1. What’s the fee when a card gets swiped?What’s known in payments-industry parlance as an interchange fee is typically divided among multiple parties and usually amounts to about 2 percent of a purchase price for a credit-card transaction and 24 cents for one with a debit card. The U.S. has what’s known as a four-party system -- the consumer, the consumer’s bank, the merchant and the merchant’s bank. The … [Read more...] about Behind the $90 Billion Brawl Over Credit Card Swipes
A tattoo artist is offering a £1,000 reward for the return of his equipment after the shop he has run for 20 years was burgled. Second Skin Tattoos, on Kings Road in Immingham, was broken into at around 4am on Monday morning, when a brick was thrown through the front window of the shop, before at least nine tattoo machines and ink were taken. Owner of the shop Jim Everett, 53, says he will now have to "max out his credit cards" in order to purchase new equipment so that he can keep his business going, as everything he needs to run a tattoo shop has been taken. He said the value of the equipment is between £2,500 and £3,000, and he is offering a reward for the safe return of the equipment because it would save him having to spend thousands of pounds more on purchasing new machines and ink. He is also facing a repair bill of more than £1,000 for the shop's large front window, which was smashed. He said: "I really can't believe that this has happened, they have stolen … [Read more...] about £1,000 reward for tattoo machines after burglary at shop
When people look for places to invest their money and handle their finances, their typical options are banks and credit unions. While the Credit Union National Association reported more than 100 million members in 2017, many still aren’t familiar with how a credit union works or the many benefits associated with membership. Credit unions are nonprofit entities that offer services similar to those offered by banks. The difference is that they are member-owned cooperatives that exist for the benefit of their stakeholders; unlike for-profit financial institutions that exist for the profit of their shareholders. As such, credit unions can offer their members higher interest rates on savings accounts and lower interest rates on loans and credit cards. In that regard, if you have a high-interest credit card, you can transfer the balance to a credit union for a much lower interest rate credit card, according to CUNA. Plus, credit union credit cards also offer rewards programs like bank … [Read more...] about Why join a credit union?
Two Ballymena brothers who founded Australia’s largest credit card comparison website have announced a seven-figure investment to acquire Singapore financial comparison marketplace, Finty. The strategic development is driven by Credit Card Compare Co-Founder, Andrew Boyd – who splits his time between Northern Ireland, Australia, and now Singapore. He believes acquiring Finty will give the Australian fintech player a foothold in Asia’s growing market for financial services.“This acquisition is part of our growth strategy, allowing us to build upon a successful business in Singapore which dovetails with our own vision for a comparison service that makes financial decisions easier, more rewarding, and, ultimately, more fun for customers in Australia and now across South East Asia,” Andrew said.Credit Card Compare is currently the largest comparison site in Australia dedicated to credit cards, where more than two million consumers have used its marketplace in … [Read more...] about Brothers in major business deal