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Card Add-on Products Stage a Comeback

Payment protection plans and other credit card "add-on" products got knocked down by a regulatory roundhouse punch in 2012, but analysts expect them to bounce back -- this time with tighter marketing pitches and lower prices."What I expect to see is better use of targeting," said Matt Simester, managing director at the card analyst Auriemma Consulting Group. "There is still a significant sector that would find value in these products."In fact, two top-10 issuers have either re-launched the products or announced plans to do so, and consumers say in surveys they continue to be offered the add-on products.Added costs, but where are benefits?The most common add-on is payment protection, also called debt protection, which usually costs less than 1% of your monthly balance. It is an insurance-like service that typically cancels minimum payments on your card for a period -- six months to two years -- if you lose your job or hit some other calamity.  Other once popular products sold to consume...

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  1. CARD Act Raised Rates, Lowered Credit Access

    The Credit CARD Act has caused higher interest rates and lower availability of cards -- especially for new users and people trying to re-establish their credit, the ...

  2. Reports: Regulators to Announce LIBOR Settlement With RBS

    FBN’s Diane Macedo breaks down the stories moving the markets around the world.

  3. Dimon: U.S. Consumer is in Better Shape

    JPMorgan Chase CEO Jamie Dimon on the future of financial regulation and the impact of the “London Whale”, and the state of economic growth.

  4. New Rules to Curb Risky Mortgages

    AEI Resident Fellow Ed Pinto and Fmr. Fannie Mae Exec. VP Rick Sharga on new rules surrounding mortgages and homeownership.

  5. Brazil Wants Review of Fees for Retail Services at 6 Big Banks

    SAO PAULO, Brazil--Brazil's Justice Ministry on Thursday said it wants six of Brazil's largest banks to provide information about the fees and services they're charg...

  6. Three Fee-Laden Checking Accounts to Avoid

    A good bank account can be hard to find.Banks are charging higher bank fees, mainly on checking accounts. At the same time, the Internal Revenue Service is cracking ...

  7. Swiss Regulator Asks Banks To Detail Kickbacks Due To Clients

    Swiss regulators want banks to tell clients how much they earned in commissions from selling third-party products, a move aimed at making it easier for clients to re...

  8. Ochs: Still Uncertainty as Dodd-Frank is Being Implemented

    Aspen Institute Susan Ochs on candidates for Treasury Secretary and the financial sector.

  9. What’s the Future of the Government’s Role in Housing?

    Trulia Chief Economist Jed Kolko on the outlook for the housing market.

  10. Obama Versus Romney on Financial Reform

    Americans have paid a heavy price for the financial crisis: massive losses to Americans' retirement portfolios, a collapse in residential real estate values and an u...

  11. American Express, Wal-Mart Team Up for Prepaid Card

    In a bid to capture new customers, American Express Co. (AXP) and Wal-Mart Stores Inc. (WMT) on Monday announced a new prepaid card, billing it as a cheaper alternat...

  12. American Express and Wal-Mart Team Up for Prepaid Card

    In a bid to capture new customers, American Express Co. (AXP) and Wal-Mart Stores Inc. (WMT) on Monday announced a new prepaid card, billing it as a cheaper alternat...

  1. U.S. Regulators Hit RBS Subsidiaries With $14 Million in Fines

    U.S. bank regulators reached settlements worth a combined $14 million with Royal Bank of Scotland Group PLC's (RBS) banking subsidiaries, after finding that the bank...

  2. Sheila Bair Q&A: Protect Borrowers and Banks

    Sheila Bair speaking before the National Press Club in 2011. Highlights of Bair's career 1981-1988: Research director, deputy counsel and counsel for U.S. Sen. Rober...

  3. Four Tips to Guard Your Social Security Number

    9 Very Valuable DigitsYour Social Security number is the key to your financial castle. Armed with those precious nine digits, identity thieves can rip off your good ...

  4. Factbox: Key points to Mexico's planned banking reform

    Mexico's government wants to boost lending by making it easier for banks to collect on guarantees for bad loans and by giving powers to regulators to punish firms th...

  5. EU Court Rules Against Spanish Mortgage Laws

    A ruling from the European Union's top court will force Spain to make it easier for mortgage holders to escape foreclosure by challenging onerous mortgage terms in c...

  6. Swiss Banks Working On Plan To Handle Customer Complaints

    Swiss banks are working on a proposal to simplify the way customer complaints are handled, centering on the creation of an arbitration panel that would oversee the c...

  7. Why You are Charged Hefty Bank Fees

    No one likes bank fees. So why do banks charge them, taking the risk of alienating their customers?The simple answer is that banks aren't not-for-profit businesses, ...

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