Five Misleading Credit Card Offers
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5 Misleading Credit Card Terms

Credit card offers are meant to entice.

Some woo you by imitating elaborate invitations to posh events with glossy paper and origami-style envelopes. Others look serious, even ominous, with words such as “important” or “confidential” written on the outside. Some post pictures of the exotic places you’d go with their credit card.

Don’t believe it. Credit card offers are usually misleading in one way or another. Issuers tend to describe their cards with words that promise more than they really deliver.

Which words should you ignore? Bankrate outlines five types of marketing terms or phrases that don’t mean what you think. Remember: The real meat of a credit card offer is in the fine print, where you’ll find the terms and conditions.

‘Jewelry’ Cards

What’s in a name? It’s a question Shakespeare’s star-crossed Juliet once mused before concluding: not much. That goes for credit card names, too.

It seems issuers are advertising watches or necklaces instead of credit cards. There are the ubiquitous “gold” or “platinum” credit cards, and cards named after precious stones such as diamond or sapphire. There’s even a “palladium” card. It’s the issuer’s most luxurious card and made of the silvery metal, which, ironically, is less precious than platinum.

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Related News:

Groupon debuts credit-card payments service for merchants
News from The Seattle Times:

Groupon, the largest daily-deals website, is introducing a credit-card reader to vie with products offered by Square and PayPal service and boost revenue from small businesses.

The company will charge U.S. merchants that use its coupons lower fees than Square and PayPal, according to a statement Wednesday from Chicago-based Groupon. The reader is also compatible with Apple ‘s iPhone and iPod Touch.

Groupon, which has been testing the service in San Francisco, is seeking new sources of revenue as diminished demand for daily deals causes sales to fall short of analysts’ predictions. The new service, Groupon Payments, is designed to make the company more appealing to existing clients and potential new ones.

“For the small merchants, credit-card transactions have always been extremely expensive,” said Sameet Sinha, an analyst at B. Riley & Co.

Existing Groupon customers that use the reader will pay transaction fees of 1.8 percent plus 15 cents for cards from Visa, MasterCard and Discover Financial Services.

For American Express cards, fees will be 3 percent plus 15 cents.

Card readers offered by Square charge 2.75 percent per transaction, while PayPal has a 2.7 percent fee.

Groupon rose 14 percent to $ 5.34 at the close in New York. The stock has declined 74 percent so far this year.

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