When it comes to getting a secured credit card it looks like in the near future you will no longer need cash. Instead, with a new card called the Gold Bullion Card, consumers will be able get a secured line of credit using something that has become more popular than ever, which is gold.

After first reading about the Gold Bullion Card on Bankrate.com’s Plastic Wrap Blog, where cardholders would fund their secured card with gold coins, I immediately thought that they were joking. It was only until I looked more into the future plastic at their website (thegoldbullioncard.com) that I found that the card really does exist, and that it would be made available soon to those looking to use gold to increase their credit scores.

So what can you expect from this card? When looking at the details of this card, it is much like a traditional secured card with the main difference being the way that it is funded. Unlike a regular secured card in which the dollar amount of the deposit determines the credit limit, with this unique "gold card", the customer’s credit limit is around 75 percent of the value of the coins when they are deposited. When it comes to fees, just like with other cards there will be an annual fee that will likely be somewhere in the range of $50 and $100, as well as a couple of others. At the moment, the one that will stick out to consumers the most will be a storage fee for gold coins that are deposited.

As the newest laws set by the Federal Reserve concerning overdraft fees are scheduled to take effect July 1, 2010, many researches and experts have been waiting to see how banks would react. While in the past, banks have decided to make drastic changes to help make up for what could be a potential revenue loss (good example being credit cards), nothing major has been reported as of yet. Instead the biggest news so far has been by Bank of America, which stated they have decided to do a little something extra to help ensure that consumers don’t spend more than what is in their account.

Under the regulations set to take place in the next couple of months, banks will not be allowed to charge overdraft fees unless the customer first gives permission by opting in to the service. In Bank of America’s case instead of just stopping overdraft fees until consumer have decided to opt in; they have decided to not allow any debit card purchases to go through if there is not enough money in the user’s account. While this is directed solely toward card purchases, cardholders will have to opt in to pay a fee at the ATM for withdrawing more than their avaliable balance for ATM transactions. As for when the change in bank members’ terms will go into effect; for new accounts the date is June 19, while existing accounts have to wait until early August.

When going to and beyond what is required by law, Bank of America has been one of the few financial institutions that make public announcements on exceeding what is going to be necessary. When looking back, they also were the first one to let it be known that they were no longer going to raise interest rates on their credit cards. They also made public statements on the restructuring of their credit card statements that were simplified to give cardholders a better understanding of what was owed.

When it comes to the way that millions of consumers are paying for goods and services, there has been a major shift in the world of plastic. While at one time consumers on average carried around four credit cards, in today’s economic environment many are carrying just one. Instead people are opting to use cash and other forms of alternative payment methods such as prepaid cards, which are growing in usage month after month.

As for the potential that prepaid cards have, there is no better indication than numbers reported by one prepaid issuer for the month of February. It was reported that NetSpend, one of the largest prepaid card companies within the United States, hit a record number for the amount that cardholders deposit on prepaid plastic. That record breaking amount was around $1.04 billion, and surprisingly that number could just be the beginning of what prepaid card issuers could see moving forward into 2010.

When it comes to the amount of money loaded on re-loadable prepaid cards in one given month, the billion dollar number is an industry first; but it seems that many have expected it for some time. While prepaid cards have been around for some time now, it was not until very recently that consumers started to heavily depend on them more than their credit cards or cash. What started out as being heavily targeted toward the un-banked and underbanked has spread to the average consumer (including students). With prepaid debit cards, cardholders still get the convenience of using plastic to make purchases, without the interest rates associated with credit cards.

When it comes to your privacy, what companies do you believe rank the highest at protecting your personal information and data? While the answer will probably be different for many, there is one company that has been a consumer’s favorite for the past five years. That company is American Express and being the most trusted company in the United States is just one of the many distinctions that they have garnered.

In a post written earlier entitled "American Express Claims Happiest Cardholders", American Express was listed on a J.D. Power and Associates survey as the issuer with the happiest cardholders. While that was well before the drastic changes millions have seen with their card accounts, it now seems that consumers are ranking them among the best when it comes to another group of companies, and this time it is for privacy according to the Ponemon Institute’s annual Most Trusted Companies for Privacy Study. While the happiest cardholders’ list comprised solely of the U.S. largest issuers, this time well known companies such as IBM, Wal-mart, Hewlett Packard, and E-Bay were in the running.

Over the last two years we have hit record numbers of consumers’ personal information or data being breach or collected, and 2010 will probably be up there as new technology and payment methods are being created. For this reason identity theft and credit card fraud is defiantly something that majority if not all Americans are worried about. For any company, a person’s trust on whether or not they think that their information is safe plays a vital role. As many cardholders see American Express as a safe company to do business with, it will help them increase cardholders especially if factors such as interest rates and fees are equal.

When it comes to using your credit card there is no doubt that it is more expensive now than any other time in the past. For majority of cardholders the bulk of the increased cost is from extremely high interest rates, for others it is costing even more as new fees are constantly being added or current fees are being raised. While at the moment only interest rates are being regulated (thanks to the CARD Act); if a newly introduced proposal is accepted, some of the current fees that consumers are paying may be capped or removed altogether.

When looking at the new proposed rules, if accepted it would go into effect on the last phase of the CARD Act, which takes effect in August. Under this proposal, credit card issuers would have their fees for such things as over-limit fees and late fees be set at an amount that is more realistic to the consumer. At most, the fee would not be any higher than the value of the violation, meaning it could not be any higher than the amount that was paid late or charged over.

Other concern that would be addressed by this proposal would be the charging of an "inactivity fee", which has been a hot topic for many weeks now. While there are not many major issuers currently utilizing the fee, it has been one that experts and media alike have put under the microscope as the next major feature issuers would adopt.

As the growing number of people experiencing some sort of credit card fraud and identity theft grows drastically year after year, many people have wondered what factors can determine the likelyhood of who will be next. While there is no exact answer, studies have been conducted and one of the most recent has important information on what things may factor into whether you are may be targeted.

According to an article entitled "New Study Profiles Credit Card Fraud Victims" Experian has released a report that could surprise a lot of cardholder that believe they would never be affected by these types of thefts. Within the report it is stated that those that seem to be targeted most either live within an affluent/upscale suburban neighborhood or metropolitan area, as well as hold some sort of college degree. While the article seems to describe this type of theft as one of opportunity, one can only imagine that in most cases these thefts probably target certain individuals whom thieves can get the most out of by doing the least amount of work.

When it comes to protecting yourself from identity theft or credit card fraud,  in may cases simple steps can help ensure your don’t become a victim. They include the following:
 

• Protecting all of your paper documents
• Keeping computer security software up-to-date
• Keeping all of your personal information private
• Monitoring the security of websites
• Monitoring any and all account activity
   

If you suspect you may be a victim, contact your issuer or loan provider immediately. In many cases, when it is caught earlier it can be resolved with little or no long term damage or stress.

When it comes to your money, the Federal Reserve is doing more than just informing credit cardholders of the beneficial information that they need to know concerning the implementation of the Credit CARD Act. They are also letting debit cardholders know about the new rules taking place later this year concerning the next biggest issue currently effecting millions of people, which is overdraft fees.

On getting the word out about the changes that consumers will be seeing, the Federal Reserve Board is once again utilizing the web. On the Federal Reserve Boards site, cardholders can now go and view what the Fed believes you need to know about the new overdraft rules for ATM and debit cards. Once there you will find a great overview of the changes, and the basic facts of every account.  Not only that, they break down the new rules in an easy to understand way that covers the following points:
 

• Your ability to choose
• Accounts effected
• The flexibility you receive
• What is and is not covered
   

One of the great things about this site is that they actually give you an example of what you should be receiving from your financial institution. This allows consumers to become familiar and understand documentation well before actually receiving any letters from the bank. In all, this site is very good in helping cardholders know what to expect when the rules take effect on August 15th.

In a world where a growing number of people are looking for more convenience, products that focus on personal finance seem to get more interest then most. So when a company known as TSYS (Total Systems Services, Inc.) decided to announce a solution that gives cardholders the ability to pay from multiple bank accounts all from one card, many in the financial industry are paying attention.

TSYS has introduced a "hybrid" card that allows consumers to choose how they want to pay for products and services with their plastic. While it sounds similar to a debit card from your financial institution or one that is decoupled, this card is much different. Consumers using the card can choose whether the transaction will be directed to a traditional credit card (revolving credit line) or to a debit card from multiple bank accounts if the consumer has more than one. In turn the days of carrying more than one card could soon be behind us if this plastic takes hold with financial institutions.

When it comes to the opinions of a hybrid type of payment card, while it sound great for consumers, there are a few that probably hope this new product doesn’t grow in popularity. This is because experts have predicted that there are some that would not benefit from consumers using this product. For those that could have the potential to lose the most, many say that it will be major issuers of traditional debit cards. Retailers would also be expected to lose out by the switch as they incur higher cost when a credit card is used instead of a debit card, and with a hybrid card the chances of using a credit card are increased dramatically.

With the long wait of the main phase of the Credit CARD Act almost at an end, many people have probably came to wonder how the new law will effect them in a positive way. While no one knows for sure, many researchers have performed studies to try to find the answer.

Now one researcher is giving an answer that many (if not all) will hope is accurate. According to a recent article from Pewtrusts.org entitled "Pew Finds Credit CARD Act Will Save Consumers Billions", researchers are estimating saving up to $10 billion a year based on fees alone. This is because when the second phase is implemented, credit card issuers will be forced to make major changes across the board and will no longer be able to charge excessive penalties for many of the things they had in the past. Instead they will have to give exact reasoning for increases on things such as certain fees, and give the consumer ample time to make payments.

After reading the article, when it comes to the estimated savings concerning the fees the news is beyond great if it is correct, but in my opinion the question of real savings focuses more on interest rates. Since the bill was first created, cardholders have been hit hard in several different ways that have all ended with the consumer paying more. Even with the requirement that credit card issuer have of lowering the interest rate for consumers in good standing, many cardholders will still be well above the initial rate they may have had before interest rates skyrocketed.

After months of shunning customers that were applying for their products, it now looks like credit card issuers are now ready to extend credit once again. While at first that may sound like great news for the millions of Americans that have been declined over the past months, there is one stipulation and that seems to be you must have an extremely high credit ranking in order to get the plastic you want.  

Because issuers are bound by new regulations, the "everyone is approved" approach that we had seen in years past just won’t cut it. With laws now stating what issuers can and can’t do when it comes to raising interest rates among other things, they are now being much more cautious on whom is issued a card. Research has shown that when it comes to many of the larger issuers in the U.S., well above eighty percent of consumers getting offered credit cards have credit score above 700.

While being more selective on issuing cards may keep some consumers from getting the credit card they really want, many other consumers will probably not be bothered with the lack of attention. For the first time in years, many Americans have started to cut back on borrowing and focus more on saving for the future. While getting a credit card may be on the "to-do" list, it is just something that they don’t feel is necessarily needed at the moment to reach any of their financial goals.