Most internet merchants are now requiring consumers to enter the three or four digit number on the back of the credit card as part of the checkout process. The three digit code is known by several names: Card Verification Value (CVV), Card Validation Code (CVC) and Card ID (CID). The theory is that the cardholder…
Read more »According to Fitch Ratings July 2009 charge-off rate for prime credit card portfolios declined 10.55% or 24 basis points over June 2009. This marked the end of five consecutive months of record highs for charge-offs. Charge-offs often increase in the fourth quarter. However, Fitch predicts this will be less likely this year because so many…
Read more »In a 2008 survey, Neilson reported that 875 million people shop online. More than 85 percent of the world’s online population used the Internet to make a purchase, an increase of 40% within just 2 years. Credit cards were used by 59% of internet shoppers. That means 41% of online shoppers use other payment methods.…
Read more »