| November 21, 2011

Chase continues rush to issue new credit cards

In recent months, many of the nation’s largest credit card lenders have begun issuing a new type of credit card to certain customers in hopes of easing their ability to complete purchases when traveling overseas.

JPMorgan Chase, one of the earliest among the nation’s top credit card lenders to begin issuing “chip and pin” credit cards to frequent travelers, is now offering another such account, according to a report from the Associated Press. The latest card, co-branded with British Airways, is designed to give consumers greater flexibility when making foreign purchases.

Nearly all credit cards ever issued in the U.S. use a magnetic strip on the back of the card to store consumers’ payment information – technology that was cutting edge decades ago but has long since fallen obsolete – the report said. And while that is still the norm here, all other major industrialized countries in the world have switched to a more secure system, one which stores information on a microchip embedded in the card and requires the user to enter a code when making a purchase, as they would with a debit card.

The result of the global change is that now, a few years after widespread adoption of the chip and pin system, a growing number of Americans are finding it difficult to complete some overseas transactions with their U.S.-issued credit cards, the report said. The most common way in which consumers have had these difficulties is when using automated machines such as gas pumps or those for train passes.

“What used to be a trickle a few years ago has become a frequent point of irritation,” Naney Pandit, general manager of Chase’s card services, told the news agency.

Already, a number of American financial institutions, such as Bank of America, Wells Fargo and U.S. Bank, have begun offering the more secure payment option to wealthier travelers who tend to travel overseas more often, the report said. Many of these cards carry sizable annual fees.

Chip and pin credit card technology is safer than magnetic strips because it’s harder to obtain information stored on the card, and even more difficult to duplicate, making it tough on thieves to rack up fraudulent credit card debt in other people’s names.

"We are really proud to recommend Consolidated Credit" Kathleen Cannon, President & CEO of United Way of Broward County. Consolidated Credit Counseling Services, Inc. is pleased to announce our partnership with the United Way as a United Way Chairman’s Circle Organization.

"We are really proud to recommend Consolidated Credit" Kathleen Cannon, President & CEO of United Way of Broward County. Consolidated Credit Counseling Services, Inc. is pleased to announce our partnership with the United Way as a United Way Chairman’s Circle Organization.

All Consolidated Credit counselors are certified personal financial counselors (CFC) We've helped 5 million people get out of debt! Call us today and see what we can do for you.

Consolidated Credit is honored to receive the 2012 Excellence in Financial Literacy Education (EIFLE) Nonprofit Organization of the Year award. The EIFLE awards acknowledge innovation, dedication and the commitment of organizations that support financial literacy education worldwide. See what Consolidated Credit can do for you.

Consolidated Credit is honored to receive the 2012 Excellence in Financial Literacy Education (EIFLE) Nonprofit Organization of the Year award. The EIFLE awards acknowledge innovation, dedication and the commitment of organizations that support financial literacy education worldwide. See what Consolidated Credit can do for you.

The National Industry Standards for Homeownership Education and Counseling are a set of guidelines for quality homeownership and counseling services. Industry professionals who adopt these standards can be trusted to provide consistent, high quality advice.
Click here to learn more.

Consolidated Credit Consulting Services, Inc. has been verified as the owner or operator of the Web site located at www.consolidatedcredit.org. Official records confirm Consolidated Credit Consulting Services, Inc. as a valid business. Call us today and see what we can do for you.

Consolidated Credit is a Certified ISO 9001 company, as verified through Bureau Veritas Certification.

Time tested and customer trusted. Consolidated Credit Counseling Services has been a BBB Accredited Business since 1998 and has a current A+ rating. Call us today and see what we can do for you.

View the Consolidatedcredit.org review status

Time tested and customer trusted. Consolidated Credit Counseling Services has been a BBB Accredited Business since 1998 and has a current A+ rating. Call us today and see what we can do for you.

View the Consolidatedcredit.org review status

Consolidated Credit is proud to be an ANAB accredited member. Accreditation by a recognized and respected body such as ANAB ensures the impartiality and competence of our company. To see what we can do for you, give us a call.

U.S. Department of Housing and Urban Development - HUD's mission is to create strong, sustainable, inclusive communities and quality affordable homes for all. Consolidated Credit is proud to be a member of HUD and also part of the Hope Now Alliance.

You can save!

With this amount of debt, you'd pay around $xx.xx on a DMP.

FREE Debt Consultation
VE Interactive