Not that long ago Bank of America announced they were going to charge all their debit card customers a $5 monthly fee. This fee was their effort to recoup the lost revenue due to the fee caps congress put on the banking industry. The announcement of this fee caused thousands of Americans to switch banks and start using a Credit Union instead. As a matter of fact, since Bank of America’s announcement in late September, the Credit Union National Association (CUNA) has reported a huge increase in customers to the tune of 650,000 people.

It only took four weeks for BoA to change their mind about the $5 fee due to the backlash of customers and lawmakers. Other big banks like Chase and Wells Fargo, who were expected to follow in the footsteps of BoA also have decided against the fee.

Debit card users were in an uproar over this $5 fee. The question is why did this $5 fee spark such commotion across the country? The argument against the debit card fee is that BoA’s fees was targeted towards a select group of people – the middle to lower class. This is because the fee was only going to be charged to customer accounts who had less than a $20,000 balance in their account.

This fee even prompted the National Bank Switch Day which was expected to take play on November 5, 2011.

In summary, Bank of America decided not to impose the debit card fee thanks to the consumer feedback and the national attention all this received. Maybe BoA customers don’t need to be so quick to make drastic moves like changing banks, but instead voice their opinions in a way that forces change. Later this week we will take a look at exactly what happened after National Bank Switch Day and see just what affect all this had on the banking industry.

The United and Continental merger results in a new credit card offer for frequent fliers. The United MileagePlus® Explorer Card from Chase is trying to catch the attention of a select group of frequent fliers, those with good or excellent credit. The card is offering a few new perks, such as a free checked bag, priority seating, 25,000 bonus miles after an initial purchase and no annual fee for the first year.

For those consumers familiar Continental OnePass Plus card or those who are already cardmembers you don’t have to worry. Chase is making this transition as smooth as possible and cardmembers will still be able to receive all the benefits of the new card and you won’t have to change cards to do so. As of right now, Chase is keeping $85 annual fee in place for the Continental One Pass cardholders. Below we have all the details of each card so you can compare the benefits for yourself.

United MileagePlus® Explorer Card from Chase

The United MileagePlus® Explorer Card is designed for those who travel frequently with United and Continental. The card offers a variable rate of 15.24% (Variable)* and there is no annual fee for the first year which is a $95 savings. The card gives 2 points for every $1 you spend on United and Continental purchases and 1 point per $1 everywhere else. Here are the card details:

• Earn up to 40,000 bonus miles & first year free, a $95 value*
• First checked bag is free for you and a companion when you fly United flights, up to a $50 value
• Board your flight before general boarding with priority boarding privileges
• Visit the United Club with two complimentary day passes every year, up to a $100 value
• Earn 2 miles for each $1 spent on airline tickets purchased from United and 1 mile per $1 for everything else
• Your miles don't expire and there is no limit to the number of miles you can earn

Continental Airlines OnePass® Plus Card

The Continental Airlines OnePass® Plus Card from Chase is designed for those who love to fly with Continental and United. This card is a travel rewards card that is reserved for those with good to excellent credit. The card offers a solid rewards program that rewards members for everyday purchases and gives extra rewards when you make Continental Airline purchases. The annual fee of $85 is waived for the first year. The card offers a variable rate of 14.24% (Fixed)*. Here are the card details:

• Earn up to 40,000 bonus miles & first year free ($95 value)*
• Now with priority boarding privileges on Continental and United flights
• Check your first bag for free on Continental and United flights, up to a $50 value
• Visit the United Club with two complimentary passes every year, a $100 value
• Earn 2 miles for $1 spent on tickets purchased from Continental and United and 1 mile per $1 everywhere else
• Your miles don't expire and there is no limit to the number of miles you can earn

Citi Cards and American Airlines announced today a new card offer that will join the popular Citi® / AAdvantage® credit card collection. The Citi ExecutiveSM / AAdvantage® World EliteTM MasterCard® will provide exclusive elite-level travel services and experiences to American’s flyers. The Citi® / AAdvantage® has served millions of clients over the last 24 years and is now offering this card in an effort to support cardmembers who are often traveling globally. The Citi ExecutiveSM / AAdvantage® World EliteTM MasterCard® has no foreign transaction fees on purchases. In addition, Citi will begin introducing EMV chip technology on the cards later this year to support purchases made abroad. Here are some of the details of the card:

• Admirals Club® Membership privileges for cardmember and immediate family or up to two traveling guests to enjoy the comfort, convenience and service of a private lounge with complimentary drinks and light snacks, WiFi, and a suite of business services – at over 40 worldwide locations.
• 10,000 AAdvantage® Elite Qualifying Miles (EQMs) after the first $40,000 in eligible net purchases made on the card within a calendar year.
• No foreign transaction fees on purchases.
• Enhanced airport experience including priority check-in, airport screening and boarding privileges, regardless of the class of service of the cardmember’s ticket.
• Two American Airlines AAdvantage® miles per $1 spent on eligible purchases made with your Citi ExecutiveSM / AAdvantage® World EliteTM MasterCard® credit card for items billed by American Airlines as merchant of record.
• Waived baggage charge for first domestic checked bag for cardmember and up to eight companion(s) traveling under the same itinerary.
• Expert Concierge Service: Top tier customer service representatives available.
• 24-hours a day to assist with dinner reservations, travel arrangements, gift purchases and more.
• No mileage cap on miles earned through purchases made with the card.
• EMV Chip card functionality to enable purchases abroad at EMV chip-enabled merchants, planned introduction in 2011
• Access to Citi’s Private Pass Program, providing cardmember opportunities such as presale events and VIP experiences.
• Free tools such as email and text alerts, billing due date option and automatic payments to help with account management
• Extended Warranty on purchases
• Complimentary Travel Services: Automatic Travel Accident Insurance, Travel and Emergency Assistance Services, Auto Rental Insurance, Trip Cancellation/Trip Interruption Coverage
• Comprehensive fraud and theft protection including: Fraud Early Warning, $0 Liability for unauthorized purchases, Citi® Identity Theft Solutions, and The Lost Wallet® Service
• $450 annual fee

In addition, the new credit card offers a once per year AAdvantage® Elite Qualifying mileage-earning opportunity, based on annual card spend, to put cardmembers on the fast track to American Airlines AAdvantage® elite status membership. Later this year, Citi plans to introduce the Citi ExecutiveSM/ AAdvantage® card with EMV chip card functionality to provide cardmembers with the ability to use a technology that is increasingly important when making credit card purchases abroad.

Yesterday American Express announced they are heading full forced into the prepaid card market with the launch of the American Express Prepaid Card. It’s said that this new Amex prepaid card might have the ability to set new standards within the market as a whole, due to it’s low fees. The new American Express Prepaid Card is a re-loadable prepaid card that has no monthly or maintenance fees. Typically, prepaid cards get a bad wrap because they often have high fees and almost always have either an activation fee or a monthly fee that the user is responsible for. The American Express card has no fees for purchasing the card online, monthly maintenance, activation, balance inquiries, FX transactions, loading via bank account and more.

In addition to the low fees, the card comes with many of the same cardholder benefits and protections that we see with the American Express credit cards. Such benefits will include:

• Award-winning 24-hour Customer Service: The American Express Prepaid Card comes with award-winning Customer Service. Simply call us anytime, 24 hours a day at 1-866-207-7970.
• Purchase Protection: If an eligible item purchased with the Card is accidentally damaged, or is stolen, Purchase Protection can reimburse you—up to 90 days from the date of purchase.
• American Express Selects®: As an American Express Prepaid Cardmember, you have access to hundreds of discounts and special offers. Just log into your account to access American Express Selects.
• American Express Selects®: As an American Express Prepaid Cardmember, you have access to hundreds of discounts and special offers. Just log into your account to access American Express Selects.
• Global Assist®: If you’re traveling more than 100 miles from home and need emergency assistance, you are backed by Global Assist. We can direct you to English-speaking medical and legal professionals, help with lost passports, and much more.

Applying for this prepaid card is quick and easy. Since it is a prepaid card, your credit history is not a factor. You can apply and get approved for the card with good or bad credit. You have to load funds to the card before the card can be used and the card can be used to make purchases everywhere American Express debit is accepted. If you are interested in applying, visit the American Express Prepaid Card official website.

With all the flight delays, endless airport lines and the increasing travel fees that seem to becoming more of the norm when it comes to our airport visits. As a way to alleviate some of your travel headaches, American Express is adding three new international travel benefits to its Platinum Card to make travel abroad more enjoyable and less stressful. Here is the official information directly from American Express:

• Priority Pass Select: Card members will now have access to more than 600 international airport lounges in more than 100 countries and more than 300 cities worldwide.
• $100 Global Entry Credit: Statement credit of $100 to offset the application fee for Global Entry, a U.S. Customs and Border Protection (CBP) membership program that allows expedited clearance for pre-approved, low-risk travelers upon arrival in the United States.
• Elimination of Foreign Currency Transaction Fees: Effective immediately, Card members will not be charged the 2.7% foreign currency transaction fees on international purchases when they use their American Express Platinum Card.

These three new additions to the new travel benefits American Express Platinum launched at the end of last year, including an annual $200 airline fee credit, which can apply to baggage fees, flight change fees, in-flight food and airport lounge day passes. Competition among the credit card companies is at an all time high and issuers have to make their card stick out in order be in the wallets of consumers. American Express is doing just that with the new benefits they are offering to the Platinum Card members.

The Platinum Card(R) from American Express

The Platinum Card(R) from American Express offers exclusive rewards and programs for those with excellent credit. As a new card holder, earn 50,000 Membership Rewards(R) bonus points when you spend $1,000 in 3 months, which is redeemable for one round-trip domestic airline ticket. The Platinum card also offers 24-hour access to Concierge service for the finest experiences in dining, entertainment, and luxury. Here are some of the great features of the card:

• 25,000 Membership Rewards(R) points bonus, redeemable for one domestic round-trip Coach-Class airline ticket, when you spend $1,000 during your first three months of Card membership
• New GLOBAL Travel benefits: Priority Pass select airport club access, No Foreign Transaction Fees, Global Entry expedited U.S. immigration pass
• Up to $200 in Airline Fee Credits annually to cover incidental charges on your airline of choice, including checked-baggage fees
• Complimentary Companion Airfare with purchase of qualifying First- or Business-Class international ticket
• 24/7 Platinum Card(R) Concierge service for assistance with reservations, travel, gifts, and more
• FINE HOTELS & RESORTS Program: exclusive upgrades and amenities at over 700 boutique, resort, and luxury hotels worldwide

Chase has brought a new offer to the table and enhanced the Southwest Airlines Rapid Rewards® Credit Card by adding an extra bonus for new cardmembers. Chase is now introducing an updated version of the card called the Southwest Airlines Rapid Rewards® Plus Credit Card. This Card will offer customers the ability to get 20,000 points toward FREE FLIGHTS after their first purchase, along with No Blackout Dates, among many other perks!! Here are the highlights of the card:

• New! Get 20,000 Points toward Free Flights after your first purchase!
• No Blackout Dates, Unlimited Reward Seats, and Points Don’t Expire.
• Now you can redeem for International Travel.
• Earn 2 Points per $1 spent on Southwest Airlines purchases.
• Earn 2 Points per $1 spent on Southwest Hotel and Car Rental Partner purchases.
• Earn 1 point per $1 spent on all other purchases.
• Get 3,000 Points every year on your Card member Anniversary – that’s equal to $50 toward a Wanna Get Away® Fare.
• September 11th Security Fee applies.

Bonus Offer

This Card will offer new members the ability to get 20,000 points toward free flights after their first purchase. You will qualify for and receive your bonus points after your first purchase or first use of the card. First purchase include purchases, balance transfers, or any checks that are used to access your account, and excludes cash advances. This one-time bonus offer is valid only for first-time Southwest Airlines Rapid Rewards personal Cardmembers. There are no blackout dates and Your points can be redeemed for free flights to any of the 70+ destinations Southwest Airlines serves.

Rewards Program

With this credit card you will earn 2 points for each $1 you spend with Southwest Airlines, including flight, inflight, southwestgiftcard, Jackpot Deals, and Southwest Airlines Vacations package purchases, and at participating Southwest Airlines Rapid Rewards Hotel and Rental Car Partners. You also will earn 1 point for each $1 of all other purchases. Each year, you will receive 3,000 points after your Anniversary. You will also earn 1 point for each $1 of balance transfers for the first 90 days from your enrollment date in the program.

Southwest Airlines Rapid Rewards® Plus Credit Card
	New – 20,000 points toward Free Flights + $50 after the first time you use your card Get 3,000 Points every year on your Card member Anniversary – that’s equal to $50 toward a Wanna Get Away® Fare Now you can redeem for International Travel, Hotels, Gift Cards and more. Earn unlimited Free Flights – 2 Points per $1 Spent on Southwest Purchases and 1 Point per $1 Spent on everything else Your Bags Fly Free! No Blackout Dates, Points Don’t Expire, and Unlimited Reward Seats! No Change fees – if you need to change your flight, you won’t be charged a fee. September 11th Security Fee Applies
Intro APR Intro APR Period Regular APR Annual Fee Balance Transfer Credit Needed N/A N/A 14.24% (Variable)* See Terms* No Excellent

Credit card issuers and banks are waiving fees for Japan relief efforts. This will make it easier for people to make donations with their credit cards to a number of U.S. based charities. Visa, MasterCard and Discover have all joined forces and recently announced they will wave their typical transaction fees when card users make a donation. Depending on the credit card you use for the donation and depending on the charity you donate to, you might not have to pay the transaction fees. The charities include the American Red Cross, Save the Children, Habitat for Humanity and Doctors Without Borders.

Discover is also allowing their cardholders to donate their cashback bonuses to the American Red Cross. Capital One has also joined in by encouraging their cardmembers to donate their rewards as well. sent out an e-mail blast to its customers Thursday encouraging them to donate their rewards. American Express has decided to rebate charges for donations to Japanese relief organizations listed on the U.S. Agency for International Development (USAID) website.

Banks and credit card companies have also decided to help out with their own relief donations. Here are some of the contributions they have made so far:

• American Express is donating $100,000 to the American Red Cross and Save the Children, and matching employee contributions to those organizations.
• MasterCard is donating $250,000 and says it will double-match employee contributions to disaster relief.
• JP Morgan Chase has committed $5 million to Japanese relief and said it will also match employee contributions. The company also said customers with Chase Sapphire, Ink from Chase and Chase Freedom credit cards will be able to make relief donations through the company’s Ultimate Rewards program.
• Wells Fargo pledged an immediate $500,000 donation and said it will match employee contributions up to $500,000.

The United States Internal Revenue Service has presented IRS2Go, the first smartphone application that allows taxpayers to check the status of their refund and have access to the most up-to-date tax information. The IRS2Go app is available for your Android or Apple smartphone (including the iPad and iPod touch). Simply search for IRS2Go in the Android Marketplace or Apple App Store and download it to your device for free! Once you download the app to your smartphone, these are the following options you will have:

• Get Your Refund Status
• Get Tax Updates
• Follow the IRS
• Contact the IRS

Get Your Refund Status
The focal purpose of the IRS2Go app is for taxpayers to have a convenient way to find out the date they will be receiving their federal refund. It is very simple to receive the status of your refund, you just have to provide a few pieces of information. First you have to enter your social security number, then your filing status (single, married-filing joint, married-filing separate, etc.), and the exact dollar amount that is being refunded to you. All three pieces of information have to be correct in order to get your status. Taxpayers who filed online will be able to access their refund status within 72 hours after receiving an e-mail acknowledging that the IRS has received their tax return. Taxpayers who filed their taxes by paper will have to wait about three to four weeks before they can check their refund status.

Get Tax Updates
The IRS2Go app can also be used to subscribe to tax updates and tax tips that can help you prepare and plan for your tax needs. In order to subscribe you need to enter a valid e-mail address. You can unsubscribe from this service at anytime and the updates and tips will no longer be sent to you. Updates and tips are issued to you daily during tax season and are periodically sent out the rest of the year. If you choose to receive these updates, some of the topics you can expect to learn more about are child tax credits, education credits, earned income tax credit, free tax help, etc.

Follow the IRS
If you want to stay up-to-date with all the latest tax information then you can sign up to follow the IRS Twitter News feed. IRSnews tweets provide information about important IRS programs, tax law changes, and other important news from the IRS.

Contact the IRS
If you have any questions while preparing for your tax return or have received a notice that you want to know more information about, this makes it easy for you to contact the IRS to have all your questions answered. This part of the app directs you to the correct place whether you are filing as an individual, business, experienced identity theft or live outside of the United States. There may even be a local IRS office in your area where you can find more assistance. You can find those locations through this part of the IRS2Go app.

Recently TripAdvisor.com conducted a survey that revealed 36 percent of Americans plan to travel more during 2011 and 69 percent of those want to travel internationally. When it comes to using credit cards over seas, typically cardholders pay around a 3 percent fee when making purchases with their card. Chase has taken the survey results to heart and as a result have decided to drop the foreign transaction fee for one of their popular travel cards. The Presidential Plus Card will no longer charge a foreign transaction fee. Prior to this the card charged 3% on all foreign transactions. Chase is not the first credit card issuer to make such a change, Capital One Credit Cards do not charge a foreign transaction fee.

The Presidential Plus Card was released in 2006 and is designed for those that travel Continental airlines. In addition to the elimination of foreign transaction fees, Chase and Continental have implemented a series of improved benefits and privileges for card members. Here are the new benefits of the card:

• Presidents Club Membership: The days of waiting in crowded airport terminals are over for Presidential Plus cardmembers who automatically receive membership to Continental’s Presidents Clubs (a $450 value) and access to more than 200 affiliated lounges, including United Red Carpet Clubs® and US Airways Clubs®, around the world.
• Checked-bag Fee Waivers on Continental Flights Booked Using the Continental Airlines Card: Presidential Plus cardmembers can check up to two bags for free on flights booked with the Card, and can also extend this benefit to other individuals booked on the same reservation, resulting in a savings of up to $120 per person per round-trip.
• Blue Carpet Treatment: Chase and Continental have created an exclusive experience called the “Blue Carpet Treatment” for Presidential Plus members. While this experience is linked to rewards, service, and protection, it also comes to life in the airport. Examples of the Blue Carpet Treatment members receive at the airport include: priority check-in, boarding and express security screening where available and priority baggage handling.
• Additional Protection Benefits: Emergency medical evacuation, auto rental collision damage waiver on a primary basis, trip delay and event ticket protection coverage are a few examples of additional protection benefits available to cardmembers.

Visa just recently announced a tool to give consumers more control over their spending. This tool has been designed to help consumers manage their accounts by allowing them more options when it comes to managing their Visa account. The tool is powered by VisaNet, which is Visa’s global processing network, and it will provide Visa account holders with a mobile SMS text, email, and online spend management tools. This will allow users to implement purchase thresholds for various accounts, monitor their spending and give them alerts them when they exceed their spending limits. The service will be available to anyone who uses a Visa credit card, debit card, or prepaid card. It will just require the participation of the financial institution who issues the card.

The service will work in conjunction with participating financial institutions, who will be able to choose which of their accounts they want to enroll in the service. Account holders who take full advantage of the service will have the option to the following:

• Select spending categories they wish to manage, such as grocery, entertainment or restaurant spending
• Set budget levels they want to assign to each spending category over a specified time period – daily, weekly or monthly
• Chose how they would like to be notified when a threshold has been reached. Notifications can be delivered via SMS text messages or email

This account management tool will allow Visa account holders better control and access to their spending. For example, a consumer can choose to receive a notification via SMS text message when a transaction puts the total weekly spend for the account above a $500, or when total spending in the gas category exceeds $200 for the month. These customizable tools are a result of cardholders wanting a wide range of options when it comes to managing their accounts. The service is also available to small business and commercial Visa accounts. This will be a great way for business owners to manage their accounts too.