Credit Cards in the News: April 28 – May 4, 2013

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This week in credit card news, we noticed innovation across the board. American Express and Chegg have changed the way students get money for old textbooks by allowing them to make direct deposits into their prepaid accounts. The CFPB changed the way stay at home spouses get credit cards, and U.S. Bank issued FlexControl to help consumers monitor their debts. America finally gained access to Europe's chip-and-pin credit card system, and MasterCard found new room for growth overseas.

If you want to know more about those stories, check out the excerpts and links below. We strive to provide an up-to-date synopsis of the financial world every week so you don't have to scour the internet for long. Here are the highlights from April 28 to May 4, 2013.

Stay at Home Spouses Gain New Credit Card Options

CFPBUp until now, stay at home spouses have had a hard time getting credit cards because they had no way to prove their own income. While there are some card issuers that would allow these individuals to get low limit cards, most of them declined the applications entirely. Now, the Consumer Financial Protection Bureau has issued a ruling that will allow stay at home spouses to get a credit card as long as they have reasonable access to their spouses' funds. This should open new doors for many in the credit card world. Read more...

FlexControl Helps U.S. Bank Customers Control Their Finances

FlexControlU.S. Bank has launched a special tool to help consumers control their credit card payments. Known as FlexControl, this program has options so people can determine what they want to pay, when they want to pay it, and how quickly they want to be rid of their balances. In essence, this tool speeds up the process of clearing your credit card debt by allowing you to plug in numbers and see where they take you. Read more...

MasterCard Finds Room for Growth Outside the U.S.

MasterCardMasterCard has traditionally seen growth in the United States, but the first quarter of 2013 proved that their real opportunity for expansion lies outside of the country. In America, the credit card giant only saw a 4% increase in volume transaction, but it saw a 20% increase in Asia, Africa, and the Middle East. This may largely be due to MasterCard's recent partnerships with Alibaba and China CITIC Bank. Read more...

Researchers Test the Chip and PIN Card

Chip CardIn Europe, credit card companies have begun putting microchips in their credit cards to provide an extra layer of protection against identity theft. These cards have magnetic strips on the back for businesses still using those readers, but they also have the chips that must be read and then verified through a PIN. While there are some flaws left in the technology, it has finally reached the United States. One writer tested such a card to see how well it works. Read more...

Instantly Deposit Chegg Buyback Money with American Express Serve

CheggCollege students who sell their textbooks to Chegg can now get their money instantly through an American Express Serve card. Chegg and Amex have partnered up to give students a better way to get their money than a check in the mail. As long as the students have a Serve card, they can ask for a direct deposit into their account. Then they can use the money anywhere American Express is accepted. Read more...

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