Are they worth it? Credit counseling agencies
Article Abstract:
Creditors are usually asked by credit counseling agencies for a fair share contribution that is equivalent to 15% of all monies remitted. These contributions are used to finance the agencies' operations and its consumer credit education programs. Aside from the fair share contribution, creditors are also requested by credit counseling agencies to loan money for free, to follow prescribed rules for reporting to credit bureaus, to establish a working relationship between their collection agencies and the credit counseling agencies, and to direct needy customers to the counseling agencies. Many creditors agree to these requests, even though they may seem burdensome, because they believe that compliance is the 'right' thing to do. The results of a study of 689 selecting accounts show that cooperating with credit counseling agencies indeed makes good business sense.
Publication Name: Credit World
Subject: Banking, finance and accounting industries
ISSN: 0011-1074
Year: 1995
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It's got to stop: retailers protest debit card tying
Article Abstract:
Several retailers have filed a lawsuit against Visa International Inc and MasterCard International Inc over debit card tying arrangements. The plaintiffs, which include Wal-Mart Stores Inc, The Limited, Sears and Roebuck, Safeway and Circuit City, allege that debit card tying associated with debit and credit card acceptance violates the Sherman Anti-Trust law and is therefore illegal. Visa and MasterCard use the tying arrangement to force retailers to accept their debit cards as a condition of these merchants' ability to accept the companies' credit cards. This debit card tying practice, according to the plaintiffs, causes retailers to pay excessive and fixed card fees each year. The companies admit that honoring all cards with their logo is a requirement for retailers wishing to accept any of the cards in their establishments.
Publication Name: Credit World
Subject: Banking, finance and accounting industries
ISSN: 0011-1074
Year: 1998
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"Sopininmon!" Or what's happening in the retail credit card environment?
Article Abstract:
The retail credit card industry is showing robust performance. The sector has approximately 169 million active accounts in 1997 and is expected to expand at 6% yearly by the year 2000. The fastest developing segment of the industry is anticipated to be the debit card. Debit transactions, particularly point of sale debit, ATM transactions, electronic funds transfers and electronic benefits transfers, are projected to grow by 21% a year. By comparison, the percentage of store sales using proprietary cards is decreasing. One of the ways by which retailers can encourage card-based transactions or obtain new credit card accounts is through incentives, such as discounts, free gifts and zero finance charge. Another motivator is to make the process of opening an account much easier for applicants.
Publication Name: Credit World
Subject: Banking, finance and accounting industries
ISSN: 0011-1074
Year: 1997
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