KnightRidder - Robert McKinley

Interviews of Robert McKinley by Knight Ridder reporters. Third party links to story abstracts and the full text are embedded in the briefs. (Abstracts are generally free but there may be a nominal fee for the full story text by the archive provider.) NOTE: There may be some duplication of stories due to citations for both RAM Research and CardWeb within the same article.

1. Low-rate credit cards may be tricky

2. Visa hopes prepaid credit card will be next step away from cash

3.   ‘Smart’ cards get low grade They’re more hype than help, expert says
Author:  Knight Ridder/Tribune  
Publish Date: July 2, 2001
Word Count: 200
Document ID: 0EDB047AD0C6C140
For years, we’ve heard tantalizing promises that “smart” cards were on the way, poised to condense our wallets, simplify our lives and hurl us closer to a cashless society.These plastic wonders embedded with microchips would be able to hold so much information that a card could serve as everything from a combination ATM/debit/credit card to portable health care file or airline ticket.In the last year, three of the

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4.   Americans earn more, spend lessConsumers caught up in rash of conservatism
Author: David J. Morrow Knight-Ridder Newspapers THE 
Publish Date: June 13, 1992
Word Count: 1083
Document ID: 0ED3D2462D5F888F
DETROIT — A sweeping conservatism has captured consumers: Americans have forsaken their free-spending ways for a more frugal existence.Living the low life is no fad. Americans have more money now than ever before — but are spending less, driving their cars longer and eschewing fancy big-ticket items like Rolex watches and BMWs. And when consumers show up at the checkout counter nowadays, they’re much more likely to pay cash than push plastic.Economists at first

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5. Tighter squeeze on late payers

Source:    Mark Schwanhausser KNIGHT RIDDER NEWS SERVICE

Five of the nation’s biggest credit-card issuers have sharply raised the penalty fee they charge consumers who pay their bills late.

The banks, controlling about 40 percent of the U.S. market, now charge a monthly $35 late-payment fee, shattering the industry’s previous norm of about $29.

“It was what the market would bear,” said Robert B. McKinley, who heads CardWeb.com, which tracks industry trends in Frederick, Md.

Published on 2002-04-07, Page C05, Philadelphia Inquirer, The (PA)

6. CREDIT-CARD PROMISES MAY NOT BE REALITY \ FLASHY LITERATURE IS FILLING MAILBOXES. BANKS WANT YOUR BUSINESS – ON THEIR TERMS.

Source:    Mark Schwanhausser, KNIGHT-RIDDER NEWS SERVICE

Beware what may be lurking in your mailbox this fall.

This is the start of the annual credit-card season, when issuers mail millions of offers in hopes of tempting consumers to open or switch accounts before the holiday season.

But credit-card issuers this season, more than in any of the last five years, are promoting Jekyll-and-Hyde credit cards that look handsome at first glance but turn ugly because of short-lived “teaser” rates, reduced rebates, hidden

Published on 1997-10-19, Page D05, Philadelphia Inquirer, The (PA)

7. 2 AUTOMAKERS’ CREDIT CARDS ARE PAYING OFF IN MORE SALES

Source:    Alan L. Adler, KNIGHT-RIDDER NEWS SERVICE

Bob Holmes already had a pretty good deal going on the Chevrolet Lumina he wanted to lease last month.

Since his brother worked for General Motors Corp., he would get a family discount. And GM was offering a $1,000 rebate on top of that. But the physical-education teacher sweetened the deal with his own rebate – $2,010 from his GM Card.

Holmes’ experience is becoming the rule for hundreds of thousands of people considering GM and Ford cars. The two automakers owe

Published on 1996-06-02, Page F01, Philadelphia Inquirer, The (PA)

8. AN ALTERNATIVE TO THROWING UNSOLICITED CREDIT IN THE TRASH HE WAS TIRED OF UNSOLICITED CARD APPLICATIONS. SO HE FILLED ONE OUT, SAYING HE WAS 118 YEARS OLD AND OWED THE MOB. HE GOT A CARD.

Source:    Rebecca Smith, KNIGHT-RIDDER NEWS SERVICE

Former IBM engineer John Galbreath, like many people with good credit, gets scads of unsolicited, “pre-approved” credit-card applications in the mail. He regards them as a nuisance, but he doesn’t just toss them.

He fills out the applications with absurd information, such as he’s 118 years old and owes money to the mob. Then he mails them back. Most outfits leave him alone after that.

But he was shocked two months ago when he got a

Published on 1995-07-01, Page D01, Philadelphia Inquirer, The (PA)

9. THIS INSURANCE MIGHT NOT BE THE BEST POLICY CREDIT-CARD COVERAGE MAY NOT PAY OFF THE WHOLE DEBT. MANY POLICIES PAY LITTLE MORE THAN THE MINIMUM DUE.

Source:    Laura Cianci, KNIGHT-RIDDER NEWS SERVICE

People buying credit-card insurance policies to pay off debt when they are temporarily disabled or unemployed may be sadly disappointed.

These policies usually pay only the minimum payment, or about 2 percent of the balance, slightly more than the interest rate the average cardholder is assessed, and only for a limited time if a person is unemployed.

For example, if a consumer carries a $2,500 credit-card balance, the insurance premium costs about $15 a month, or $180 annually. If

Published on 1994-10-24, Page G12, Philadelphia Inquirer, The (PA)

10. THOSE CREDIT-CARD INTEREST RATES ARE ABOUT TO GO THROUGH THE ROOF AGAIN

Source:    Laura Cianci, KNIGHT-RIDDER NEWS SERVICE

Remember when just about every credit-card issuer charged 18 percent to 19 percent interest on the unpaid balance?

Well, many credit-card holders will soon see those rates again.

Interest rates are on the rise. That means most credit-card holders who carry a monthly balance will pay more.

If you’re among the 60 percent of the nation’s credit-card holders with interest rates tied to the prime rate, you may already be paying more than you were a few

Published on 1994-07-18, Page D08, Philadelphia Inquirer, The (PA)

Article 20 of 29; 532 words

11. ‘GUARANTEED’ CREDIT: DON’T GET TAKEN SUCH OFFERS MAY BE DIFFERENT FROM SECURED CARDS. IF YOU NEED A CREDIT HISTORY, BETTER DEAL WITH A BANK.

Source:    Alina Matas, KNIGHT-RIDDER NEWS SERVICE

Consumers with poor or nonexistent credit histories can establish credit with secured credit cards – Visas or MasterCards issued by banks that hold deposits of your money as collateral against possible default.

But watch out. Illegitimate offers for these credit cards abound. Failing to detect them could cost you money and aggravation.

They will pitch “guaranteed” credit or a preapproved “gold” card. They will call you at home or

Published on 1993-03-29, Page D09, Philadelphia Inquirer, The (PA)

12. AN ALTERNATIVE TO THROWING UNSOLICITED CREDIT IN THE TRASH HE WAS TIRED OF UNSOLICITED CARD APPLICATIONS. SO HE FILLED ONE OUT, SAYING HE WAS 118 YEARS OLD AND OWED THE MOB. HE GOT A CARD.

Source:    Rebecca Smith, KNIGHT-RIDDER NEWS SERVICE

Former IBM engineer John Galbreath, like many people with good credit, gets scads of unsolicited, “pre-approved” credit-card applications in the mail. He regards them as a nuisance, but he doesn’t just toss them.

He fills out the applications with absurd information, such as he’s 118 years old and owes money to the mob. Then he mails them back. Most outfits leave him alone after that.

But he was shocked two months ago when he got a

Published on 1995-07-01, Page D01, Philadelphia Inquirer, The (PA)

13. THIS INSURANCE MIGHT NOT BE THE BEST POLICY CREDIT-CARD COVERAGE MAY NOT PAY OFF THE WHOLE DEBT. MANY POLICIES PAY LITTLE MORE THAN THE MINIMUM DUE.

Source:    Laura Cianci, KNIGHT-RIDDER NEWS SERVICE

People buying credit-card insurance policies to pay off debt when they are temporarily disabled or unemployed may be sadly disappointed.

These policies usually pay only the minimum payment, or about 2 percent of the balance, slightly more than the interest rate the average cardholder is assessed, and only for a limited time if a person is unemployed.

For example, if a consumer carries a $2,500 credit-card balance, the insurance premium costs about $15 a month, or $180 annually. If

Published on 1994-10-24, Page G12, Philadelphia Inquirer, The (PA)

14. THOSE CREDIT-CARD INTEREST RATES ARE ABOUT TO GO THROUGH THE ROOF AGAIN

Source:    Laura Cianci, KNIGHT-RIDDER NEWS SERVICE

Remember when just about every credit-card issuer charged 18 percent to 19 percent interest on the unpaid balance?

Well, many credit-card holders will soon see those rates again.

Interest rates are on the rise. That means most credit-card holders who carry a monthly balance will pay more.

If you’re among the 60 percent of the nation’s credit-card holders with interest rates tied to the prime rate, you may already be paying more than you were a few

Published on 1994-07-18, Page D08, Philadelphia Inquirer, The (PA)

Article 20 of 29; 532 words

15. ‘GUARANTEED’ CREDIT: DON’T GET TAKEN SUCH OFFERS MAY BE DIFFERENT FROM SECURED CARDS. IF YOU NEED A CREDIT HISTORY, BETTER DEAL WITH A BANK.

Source:    Alina Matas, KNIGHT-RIDDER NEWS SERVICE

Consumers with poor or nonexistent credit histories can establish credit with secured credit cards – Visas or MasterCards issued by banks that hold deposits of your money as collateral against possible default.

But watch out. Illegitimate offers for these credit cards abound. Failing to detect them could cost you money and aggravation.

They will pitch “guaranteed” credit or a preapproved “gold” card. They will call you at home or

Published on 1993-03-29, Page D09, Philadelphia Inquirer

Robert McKinley Reports, Analyzes, Writes, and Edits Content for the Following Online Publications or Services:

Bankcenter (payment-related news releases for executives & consumers)

CardBuzz (published payment-related news for executives & consumers)

CardFlash (payments news for executives)

CardData (quarterly payment data for executives)

CardTrak (payments news for consumers)

PYRPTS (global payment reports)

PYVNTS (global payment events)

The RAM Reports (annual payment reports for executives)

RAM Research (consulting, research, analysis)

Ruebud Media (network of payment-related services)

Robert McKinley (about)

Robert McKinley (biography)