Those who have good credit often receive a variety of credit cards in the mail, which are already approved and ready to be used. Companies send these out to customers who they know are a very low credit risk, in the hope that they will start using them. The cards can be activated after receiving them, which allows them to then be used by the consumer, up to the pre-set credit limit that comes with the card, as long as the cardholder has agreed to the contract, verified their identity and set up their pin number with the credit card company.

The question is, however, should consumers activate new cards which they receive in the mail. Many people do activate nearly every card that they receive, and there are advantages and disadvantages on both sides.

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Consumers shopping at stores belonging to Woolworths Group may soon be able to use credit cards that do not require a signature or PIN.

The firm has announced that throughout 2011 it will be installing contactless payment systems to enable shoppers to purchase goods more efficiently.

Those who would rather use the payWave credit cards will soon find it possible to buy goods valued at up to $100 using the technology.

Among the stores that are set to have the machines fitted before the start of 2012 are Dick Smith Electronics, Tandy, Dan Murphy, Safeway and Woolworths petrol outlets.

Dhun Karai, head of group financial services, commented: “We know how much our customers love to embrace new technologies and services that help make their life a little bit easier.”

She added that consumers had already adapted rapidly to innovations such as self-service checkouts.

This comes after Coles announced plans to enable customers to purchase goods online with their credit cards and pick them up at drive-through outlets. 

Now that Discover has ended its no fee balance transfer promotion, you may be wondering if there are any other alternatives out there.

In short, the answer is an unfortunate “no.”

That’s right; no other credit card issuers are brave enough to offer a no fee balance transfer credit card at the moment, perhaps still spooked from the credit crisis that appears to be nearing its end.

Even pre-credit crisis, I don’t think Chase offered a no fee balance transfer; only Citi seemed to take that plunge.

So why is this post titled, “Chase No Fee Balance Transfer?”

Well, you may have noticed the “?” in the title. It’s there beca

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The tough financial situations many Aussies are struggling with at the moment are contributing factors to their reticence to use credit cards, it has been suggested.

MasterCard spokesman David Masters told the Herald Sun that people are more likely to buy goods using their plastic when they feel secure about their finances.

“In mature markets like Australia that tends to be a sure sign of caution because there is a tendency for consumers to use credit cards when times are good and consumer sentiment is high,” he asserted.

His comments come as data from the Reserve Bank of Australia (RBA) revealed that during the third month of the year, spending on credit cards dropped to the lowest level in five months.

Aussies hoping to get the most out of their plastic may want to go online to compare credit cards and find the deals that offer them the most attractive rates.

According to the RBA the average amount owed on each card by Aussies who own them is $3,321, News.com.au reported.

  Widespread predictions that the Credit CARD Act of 2009 would usher in a new era of rising interest rates, sky-high annual fees and other bank penalties were off the mark, according to a new study released Tuesday by the Pew Safe Credit Cards Project.   The Pew study analyzed 300 cards issued by 12 leading U.S. banks and 12 credit unions and found that interest rates have mostly leveled off since 2010, annual fees have gone up only slightly and penalty charges have dropped sharply in the last year. Over-limit fees, in turn, have all but disappeared.    The study’s findings indicate that most banks have found a way to live with the new rules imposed by the Credit CARD Act and still turn a profit, despite the strict regulations. “The Read full article…