Credit News
July 2007
July 2007
GE Money and Gap Inc. Partner Together to Offer Visa
Credit Card
July 2, 2007
GE Money announced today that they will begin offering Visa
credit cards to customers of Gap, Banana Republic, and Old
Navy. The Visa credit card gives customers even more benefits
for shopping at Gap.The new Visa credit cards will allow
cardmembers to earn rewards on all their purchases at Gap,
Banana Republic and Old Navy. Cardmembers will also receive
rewards on purchases everywhere Visa is accepted and will be
receive additional benefits such as exclusive cardmember offers
and advance notice of sales events.
Consumer Credit Increases at an Annual Rate of 6.5%
July 9, 2007
The Federal Reserve released their monthly Consumer Credit
Report today. The report showed that the amount of money
consumers borrowed increased in May by an annual rate of 6.5%.
The amount of money consumer borrowed from revolving credit
which includes credit cards and charge cards increased at an
annual rate of 9.75% according to the Federal Reserve. The total
amount of outstanding revolving credit increased from $887.6
billion to $894.8 billion.
Smith Barney to Offer ThankYou Points
July 12, 2007
Smith Barney announced that they will join Citi's ThankYou
network rewards program. Smith Barney will begin offering the
credit card rewards program to Smith Barney customer who have
a Financial Management Account. Smith Barney customers will
now be able to receive 1 ThankYou point for every dollar they
spend on their FMA card. There is also no limit to the number of
reward points customers can earn and the points never expire.
The ThankYou network is also a no fee rewards program The
ThankYou rewards program replaces the Smith Barney Travel
and Reward program. Customers can redeem their reward points
for jewelry, the latest electronics equipment, and gift cards.
Credit Card
July 2, 2007
GE Money announced today that they will begin offering Visa
credit cards to customers of Gap, Banana Republic, and Old
Navy. The Visa credit card gives customers even more benefits
for shopping at Gap.The new Visa credit cards will allow
cardmembers to earn rewards on all their purchases at Gap,
Banana Republic and Old Navy. Cardmembers will also receive
rewards on purchases everywhere Visa is accepted and will be
receive additional benefits such as exclusive cardmember offers
and advance notice of sales events.
Consumer Credit Increases at an Annual Rate of 6.5%
July 9, 2007
The Federal Reserve released their monthly Consumer Credit
Report today. The report showed that the amount of money
consumers borrowed increased in May by an annual rate of 6.5%.
The amount of money consumer borrowed from revolving credit
which includes credit cards and charge cards increased at an
annual rate of 9.75% according to the Federal Reserve. The total
amount of outstanding revolving credit increased from $887.6
billion to $894.8 billion.
Smith Barney to Offer ThankYou Points
July 12, 2007
Smith Barney announced that they will join Citi's ThankYou
network rewards program. Smith Barney will begin offering the
credit card rewards program to Smith Barney customer who have
a Financial Management Account. Smith Barney customers will
now be able to receive 1 ThankYou point for every dollar they
spend on their FMA card. There is also no limit to the number of
reward points customers can earn and the points never expire.
The ThankYou network is also a no fee rewards program The
ThankYou rewards program replaces the Smith Barney Travel
and Reward program. Customers can redeem their reward points
for jewelry, the latest electronics equipment, and gift cards.
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