AMERICAN EXPRESS

This post comes from Michael, chief editor of DoughRoller.net, which helps consumers find the best online banks available today.

Don’t worry, we’re not pitching a scam. This article isn’t about creating a new credit card from scratch, just designing a cooler credit card than one you have in your wallet right now!

Your bank cards are becoming obsolete. Evolving credit card technology is changing the way we use plastic, something that really hasn’t changed for over five decades. Imagine, if you will, a world where you can access two accounts with just one card, or use your rewards points at the register just by pressing a button. Even better, imagine paying for stuff with a wave of your phone. Yes, your phone.

You might not have heard of them yet, but it won’t be long before your bank starts sending you credit card offers built around this new technology. While most companies have credit card apps for mobile phones and user-friendly payment options online, the actual process of sliding and signing to pay hasn’t really progressed until now.

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Have you ever wondered about the sequence of numbers shown on your credit card, like how those numbers were chosen or what they mean? Most of us identify our issuing credit card company by the logo on the card. However, a little known fact is each credit card issuer has a specific sequence of numbers that appears on every one of the credit cards they issue and is not to be used by their competitors.

A recent survey from J.D. Power and Associates revealed that American Express is once again deemed America’s favorite credit card. Even in the midst of credit card companies being scrutinized for their questionable treatment of cardholders, this card issuer seemed to remain in its customers’ good graces.

What makes American Express cards so popular in comparison to the other big name card companies out there? Let’s take a look at what makes AmEx the best credit card available in the eyes of many–and why you might end up liking it, too.

A new report from J.D. Power and Associates found consumers have not been very loyal to their credit cards in 2010. However, this news isn’t entirely bad since credit card loyalty among consumers has managed to improve since 2009.

Satisfaction is Rebounding

According to the report released on Tuesday, consumers may be less willing to take advantage of new credit card offers than in the past. Well, that’s according to the 22 percent of consumers surveyed who said they will not be switching primary cards. Though this percentage may seem pretty low, especially in comparison to 30 percent who felt this way in 2008, it is still an improvement over the 3-year low number of satisfied cardholders in 2009.

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Retail credit cards are not known for their advantages over traditional credit cards. They often come with low limits, excessive fees or high interest rates. However, some retail credit cards stand out among the rest for their notable perks and features.

You’ve no doubt heard about the Amex Centurion Card and the Visa Black Card, but here are eight other exclusive credit cards that you may want to explore. These are equally rare credit cards that are in the pockets of some of the wealthiest citizens around the world.

There are few status symbols that are coveted like a black card, which today is widely recognized as the most elite credit card offering from any card issuer.

There’s no doubt that a quick flash of a black card in public instantly elicits visions of country clubs, helicopters and stretch limos, but the truth is most of the perks you hear about are financial urban legends conjured up by overzealous status worshipers. We’re here to put the myths to rest and separate fact from fiction so the next time you hear that black card holders get exclusive visits to a secret underground facility in Scotland to see the Loch Ness monster, you can set them straight.

The US regulators have just released the results for the “stress test” of the largest US banks. As predicted based on early rumors, 10 banks out of the 19 tested need to raise additional capital, with Bank of America (BofA) leading the list at $34 billion.

Banks That Need to Raise Additional Capital:

Before there were credit cards there were charge cards. Charge cards are essentially short-terms loans that have to be repaid quickly, usually in about a month. Charge cards require that the entire balance be paid in full at the time payment is due.

Charge cards are often issued by retailers for purchases made in their stores. Bloomingdale’s offers customers charge cards, for example. So if you get a Bloomingdale’s charge card with a limit of $1,000, and over the course of a month you spend $700 of that limit, you will have to pay the entire balance of $700 at the end of the month. With a charge card, there is no such thing as the “minimum monthly payment.” Because of this charge cards do not charge interest on their balances. However, charge cards will penalize with a late fee and the penalty is often quite stiff, since very often it is a percentage of your balance. The higher the balance, therefore, the higher the late-payment fee. The same kind of fee can also be invoked if there is only a partial payment made on the charge card balance. Bear in mind, however, that many charge cards do offer a partial payment plan. The American Express card, which is well-known as one of the first charge cards, does allow its members to enroll in an extended credit payment option.