Twitter co-founder takes aim at mobile payments
By Rachel Metz, Associated Press
SAN FRANCISCO — Jack Dorsey revolutionized online socializing by co-founding Twitter in 2006. Now he wants to transform the way people exchange money.
Dorsey is leading a new start-up called Square. Its first product resembles a cube: a tiny credit card terminal that plugs into the headphone jack of an iPhone. The goal is to make it easier to complete a credit card transaction, whether you’re a street vendor selling T-shirts or an individual settling a lunch tab with a friend.
Dorsey, who was Twitter’s CEO until October 2008 and remains the social network’s chairman, said he came up with the idea for Square nearly a year ago with Jim McKelvey, a glass artist who was frustrated after losing out on a $2,000 sale because he was unable to accept a credit card from a customer.
Best credit cards of 2009
Despite cutbacks in credit card reward promotions and significant increases in rates and fees during 2009, credit cards are still available that offer attractive terms and strong value.
CardRatings.com, a for-profit organization that educates consumers about credit cards, provides these top picks for 2009:
Best cashback credit cards of 2009
Schwab Bank Invest First Visa Credit Card
If you open a Schwab One brokerage account, you may qualify for a Visa Signature card that offers a straight, 2 percent cash rebate on all purchases. With no limits and no restrictions, this hard-to-get card provides real savings all year long.
TrueEarnings from Costco and American Express
Costco members earn a dollar for spending $100 at most merchants who accept American Express. Cashback rewards grow 3 percent for annual gasoline purchases of up to $3,000 (1 percent thereafter), 3 percent for restaurants, 2 percent for travel, and 1 percent for other purchases.
Card Debt Options – Will Switching to a Fixed Rate Credit Card Help?
Let us get one thing straight- A fixed rate credit card does not mean that interest rates charged on the card will remain fixed forever. Rather, the rate is fixed to an index. Once the index changes, the rate will also change. The duration and pattern of change varies as compared to variable interest rate cards. If you are planning to switch to a fixed rate credit card to ensure your interest payments remains stable, chances are high that you will still not succeed.
Whether you should switch to such a card or not depends on the seriousness of the problem. If interest payments are beginning to pinch but you feel that you can manage things better if the interest rate fixed, then you should think of a switch. On the other hand, if you’re finding it difficult to repay your debts on time or if you’re finding it difficult to make ends meet, then a fixed rate will not make any difference. You will continue to face problems irrespective of whether the interest rate is fixed or variable.
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British Airways credit card promotional offer
What’s the deal?
British Airways has a promotion to entice people to sign up for a new Visa Signature affinity credit card. First-time cardholders with new accounts will earn 50,000 miles with their first purchase and another 50,000 miles for spending $2,000 in the first three months after the account is opened.
That’s 100,000 miles, enough for two coach round-trip tickets or one business-class round trip to parts of Europe, including Belgium, France, Germany, Ireland, Luxembourg, the Netherlands, Switzerland and the U.K. You also can redeem miles for flights on codeshare partner American within the continental U.S., and to Canada, Hawaii and Mexico.
What’s the savings?
Potentially, a lot – especially if you rack up that $2,000. (Think about going cashless and using the card for last-minute holiday shopping, groceries, gas, bills and restaurants.)
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Cash is king for holiday shoppers
CHICAGO (Reuters) – Cash was king for consumers who shopped over the Thanksgiving weekend, according to survey results released on Sunday, and that factor could have cost retailers additional sales.
Only 26 percent of people who shopped over the weekend said they used credit cards for their purchases, according to a poll conducted for Reuters by America’s Research Group.
“That’s an amazing shift in consumers’ habits,” said Britt Beemer, founder of America’s Research Group.
A total of 39 percent said they used cash, while the remaining shoppers used debit cards, the survey showed.
Consumers shunning credit cards is a bad sign for retailers, since people who buy gifts with a credit card tend to spend anywhere from 20 to 40 percent more on the gift, Beemer said.
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