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* They discovered that 90% of the $93.2 billion decrease in credit card debt during 2009 represented credit card charge-offs<ref name="usatoday"/> rather than increasing consumer responsibility, as was widely reported.<ref name="nytimes"/>
* They discovered that 90% of the $93.2 billion decrease in credit card debt during 2009 represented credit card charge-offs<ref name="usatoday"/> rather than increasing consumer responsibility, as was widely reported.<ref name="nytimes"/>
* Their quarterly Credit Card Debt Studies illustrated that [[credit card debt]] increased during the second, third and fourth quarters of 2009<ref>{{cite web|url=http://education.cardhub.com/q4-2009-credit-card-debt-study/ |title=Q4 2009 Credit Card Debt Study |publisher=Education.cardhub.com |date= |accessdate=2011-04-04}}</ref> as well as Q2 2010 and Q3 2010,<ref name="usatoday"/><ref>{{cite web|url=http://www.allbusiness.com/banking-finance/banking-lending-credit-services-payment/15479618-1.html |title=Has Personal Debt REALLY Been Going Down? &#124; Personal Finance Corner |publisher=Allbusiness.com |date=2011-02-11 |accessdate=2011-04-04}}</ref> contrary to widespread reports that it had declined for 24 months until Q4 2010.<ref>{{cite news|author=February 7, 2011&nbsp;|&nbsp; 2:19 pm |url=http://latimesblogs.latimes.com/money_co/2011/02/credit-card-debt-balances-rise-consumer-spending-fed-economy.html |title=Credit card debt rises for first time in two years &#124; Money & Company &#124; Los Angeles Times |publisher=Latimesblogs.latimes.com |date=2011-02-07 |accessdate=2011-04-04}}</ref><ref>{{cite news|author=Font size Print E-mail Share 3 Comments |url=http://www.cbsnews.com/stories/2011/02/07/business/main7326815.shtml |title=Credit Card Debt Grows for First Time Since 2008 |publisher=CBS News |date=2011-02-07 |accessdate=2011-04-04}}</ref>
* Their quarterly Credit Card Debt Studies illustrated that [[credit card debt]] increased during the second, third and fourth quarters of 2009<ref>{{cite web|url=http://education.cardhub.com/q4-2009-credit-card-debt-study/ |title=Q4 2009 Credit Card Debt Study |publisher=Education.cardhub.com |date= |accessdate=2011-04-04}}</ref> as well as Q2 2010 and Q3 2010,<ref name="usatoday"/><ref>{{cite web|url=http://www.allbusiness.com/banking-finance/banking-lending-credit-services-payment/15479618-1.html |title=Has Personal Debt REALLY Been Going Down? &#124; Personal Finance Corner |publisher=Allbusiness.com |date=2011-02-11 |accessdate=2011-04-04}}</ref> contrary to widespread reports that it had declined for 24 months until Q4 2010.<ref>{{cite news|author=February 7, 2011&nbsp;|&nbsp; 2:19 pm |url=http://latimesblogs.latimes.com/money_co/2011/02/credit-card-debt-balances-rise-consumer-spending-fed-economy.html |title=Credit card debt rises for first time in two years &#124; Money & Company &#124; Los Angeles Times |publisher=Latimesblogs.latimes.com |date=2011-02-07 |accessdate=2011-04-04}}</ref><ref>{{cite news|author=Font size Print E-mail Share 3 Comments |url=http://www.cbsnews.com/stories/2011/02/07/business/main7326815.shtml |title=Credit Card Debt Grows for First Time Since 2008 |publisher=CBS News |date=2011-02-07 |accessdate=2011-04-04}}</ref>
* Card Hub's [http://www.cardhub.com/edu/q4-2011-credit-card-debt-study/ 2011 Credit Card Debt Study] revealed that while consumers paid down nearly $33 billion in credit card debt during the first quarter of the year, they erased this pay-down before the fourth quarter began and ended the year with roughly $48 billion more than they began it with.<ref>{{cite web|title=Q4 2011 Credit Card Debt Study|url=http://www.cardhub.com/edu/q4-2011-credit-card-debt-study/|publisher=Evolution Finance|accessdate=3/16/2012}}</ref>
* Their Q1 2011 Credit Card Interest Rate Study claimed that economic pressures typical of a recession,<ref>{{cite web|url=http://education.cardhub.com/interest-rate-study-q1-2011/ |title=Study: The CARD Act's Impact on Rising Interest Rates |publisher=Education.cardhub.com |date= |accessdate=2011-04-04}}</ref> not the [[Card Act|Credit CARD Act of 2009]],<ref>{{cite web|url=http://video.foxbusiness.com/v/4318543/credit-card-interest-rates-continue-to-rise?playlist_id=87085 |title=Credit Card Interest Rates Continue to Rise - Fox Business Video - FoxBusiness.com |publisher=Video.foxbusiness.com |date=2010-08-23 |accessdate=2011-04-04}}</ref> caused the interest rate increases that occurred during 2010.<ref name=autogenerated1 />
* Their Q1 2011 Credit Card Interest Rate Study claimed that economic pressures typical of a recession,<ref>{{cite web|url=http://education.cardhub.com/interest-rate-study-q1-2011/ |title=Study: The CARD Act's Impact on Rising Interest Rates |publisher=Education.cardhub.com |date= |accessdate=2011-04-04}}</ref> not the [[Card Act|Credit CARD Act of 2009]],<ref>{{cite web|url=http://video.foxbusiness.com/v/4318543/credit-card-interest-rates-continue-to-rise?playlist_id=87085 |title=Credit Card Interest Rates Continue to Rise - Fox Business Video - FoxBusiness.com |publisher=Video.foxbusiness.com |date=2010-08-23 |accessdate=2011-04-04}}</ref> caused the interest rate increases that occurred during 2010.<ref name=autogenerated1 />
*Card Hub’s Interchange Fee Study predicted that the Durbin Amendment to the [[Dodd-Frank Wall Street Reform and Consumer Protection Act]] will cost banks $14 billion annually.<ref>{{cite web|url=http://thehill.com/blogs/on-the-money/banking-financial-institutions/165681-study-banks-will-lose-14-billion-from-reduction-in-interchange-fees |title=Study: Banks will lose $14 billion from reduction in interchange fees |publisher=Capitol Hill Publishing Corp. |date=2011-06-09 |accessdate=2011-06-23}}</ref>
*Card Hub’s Interchange Fee Study predicted that the Durbin Amendment to the [[Dodd-Frank Wall Street Reform and Consumer Protection Act]] will cost banks $14 billion annually.<ref>{{cite web|url=http://thehill.com/blogs/on-the-money/banking-financial-institutions/165681-study-banks-will-lose-14-billion-from-reduction-in-interchange-fees |title=Study: Banks will lose $14 billion from reduction in interchange fees |publisher=Capitol Hill Publishing Corp. |date=2011-06-09 |accessdate=2011-06-23}}</ref>

Revision as of 16:46, 16 March 2012

Card Hub
Company typePrivate
IndustriePersonal finance, Credit cards, Gift cards
Gegründet2008
HauptsitzArlington, VA
Key people
Odysseas Papadimitriou, Founder and CEO
ProdukteRich Internet Application
Number of employees
8
Websitewww.cardhub.com

CardHub.com is a credit card comparison website owned and operated by Evolution Finance, Inc., a personal finance company founded in 2008 and based in Arlington, Virginia in the United States.[1]

The site serves primarily as an online credit card marketplace, and also operates a social gift card exchange[2] and frequently releases studies on the credit card industry.[3]

History

The site was started on July 15, 2008[4] by Odysseas Papadimitriou, a former executive with Capital One.[5] It added charge card comparison tools on October 14, 2008, [6] a Debt Center on July 27, 2009,[7] and a social gift card exchange on April 21, 2010. [8] Card Hub’s gift card application for Facebook launched on December 3, 2009.[9]

The company launched a blog, Wallet Blog, in December 2008.[10] It also operates the MyFico.com Credit Card Center.[11]

Services

IThe company operates a database of credit cards[12] and prepaid cards.[13] The site's gift card exchange allows users to buy and sell gift cards directly amongst each other or through the website itself,[14][15] and also provides various product comparison tools and a personal finance education center.[16]

Studies

The company frequently conducts and releases studies on various aspects of the credit card industry.[17]

  • Their studies on No Preset Spending Limit (NPSL) credit cards,[18][19][20] credit card debt,[21][22][23] and interest rates[24][25][26] have been covered extensively in the press.[27]
  • They discovered that 90% of the $93.2 billion decrease in credit card debt during 2009 represented credit card charge-offs[21] rather than increasing consumer responsibility, as was widely reported.[23]
  • Their quarterly Credit Card Debt Studies illustrated that credit card debt increased during the second, third and fourth quarters of 2009[28] as well as Q2 2010 and Q3 2010,[21][29] contrary to widespread reports that it had declined for 24 months until Q4 2010.[30][31]
  • Card Hub's 2011 Credit Card Debt Study revealed that while consumers paid down nearly $33 billion in credit card debt during the first quarter of the year, they erased this pay-down before the fourth quarter began and ended the year with roughly $48 billion more than they began it with.[32]
  • Their Q1 2011 Credit Card Interest Rate Study claimed that economic pressures typical of a recession,[33] not the Credit CARD Act of 2009,[34] caused the interest rate increases that occurred during 2010.[26]
  • Card Hub’s Interchange Fee Study predicted that the Durbin Amendment to the Dodd-Frank Wall Street Reform and Consumer Protection Act will cost banks $14 billion annually.[35]

Awards

Evolution Finance was named one of the “Five Hottest startups in the Mid-Atlantic Region” in 2008[36] and was invited to the Capital Call hosted by Cooley Godward Kronish LLP, PricewaterhouseCoopers LLP, Ernst & Young, Silicon Valley Bank and Comerica Bank.[37]

References

  1. ^ "CardHub.com". Insider Pages. Retrieved 26 February 2011.
  2. ^ "Gifts Home". CardHub. Retrieved 26 February 2011.
  3. ^ "Card Hub Studies". News & Statistics. CardHub. Retrieved 26 February 2011.
  4. ^ Johnson, Lynn (July 15, 2008). "CardHub.com Redefines the Way Consumers Find Credit Cards". PRWeb. Retrieved 26 February 2011.
  5. ^ Lieber, Ron (January 30, 2009). "Credit and Debit Cards". New York Times. Retrieved 26 February 2011.
  6. ^ "CardHub.com Ups the Ante with New "Shopping Mall" for Charge Cards". Make Business Card. January 5, 2011. Retrieved 26 February 2011.
  7. ^ "CardHub.com Launches Innovative Credit Card Debt Center". July 27, 2009. Retrieved 26 February 2011.
  8. ^ "Card Hub Launches Facebook Application - Eliminating the Guesswork from the Gift-Giving Process". PRWeb. December 3, 2009. Retrieved 26 February 2011.
  9. ^ "Buy and Sell Discounted Gift Cards at the Card Hub Gift Card Exchange". Maximizing Money. Retrieved 26 February 2011.
  10. ^ Papadimitriou, Odysseas (December 12, 2008). "Troubling: Some of Chase's Recent Change in Terms". Wallet Blog. Retrieved 26 February 2011.
  11. ^ "Search & Compare Credit Cards at the myFICO Credit Card Center". Creditcards.myfico.com. Retrieved 2011-04-04.
  12. ^ "Credit Card Applications: Compare Credit Cards & Apply Online | Card Hub®". Cardhub.com. Retrieved 2011-04-04.
  13. ^ "Prepaid Cards". Cardhub.com. Retrieved 2011-04-04.
  14. ^ "GIFTS | Take the Guesswork Out of Gift Giving". Gifts.cardhub.com. Retrieved 2011-04-04.
  15. ^ By Blake Ellis, staff reporter (2010-12-28). "Ditch your unwanted gift card and get the one you want - Dec. 28, 2010". Money.cnn.com. Retrieved 2011-04-04.
  16. ^ "Credit Cards | Card Hub® Education Center". Education.cardhub.com. 2010-08-22. Retrieved 2011-04-04.
  17. ^ "Card Hub Studies". Card Hub. Retrieved 26 February 2011.
  18. ^ "[http://www.philly.com/philly/blogs/consumer/Beware_risks_of_no_preset_limit_credit_cards.html Do Amex and other "no-preset-limit" cards hurt your credit scores?". The Philadelphia Inquirer. November 17, 2010. Retrieved 26 February 2011. {{cite news}}: External link in |title= (help)]
  19. ^ Schultz, Jennifer Saranow (December 1, 2010). "Be Wary of Credit Cards With No Spending Limits". The New York Times. Retrieved 26 February 2011.
  20. ^ Fairbank, Katie (January 9, 2011). "Man Puzzled by Docked Credit Score". The Dallas Morning News. Retrieved 26 February 2011.
  21. ^ a b c Dugas, Christine (March 10, 2010). "Lower Credit Card Debt Traced Mainly to Charge-Offs". USA Today. Retrieved 26 February 2011.
  22. ^ "Credit card debt fell because of write-offs - The Boston Globe". Boston.com. 2010-03-11. Retrieved 2011-04-04.
  23. ^ a b Hauser, Christine (2010-09-24). "Looking Behind the Decline in Credit Card Debt". The New York Times.
  24. ^ "Don't blame CARD Act for higher rates: study | Prism Money | Analysis & Opinion | Reuters.com". Blogs.reuters.com. 2011-03-02. Retrieved 2011-04-04.
  25. ^ Jackson, Maya (2011-02-17). "Credit-Card Law Benefiting Consumers, Report Finds - WSJ.com". Online.wsj.com. Retrieved 2011-04-04.
  26. ^ a b "Credit card rates move higher, but it's unclear exactly why". Usatoday.Com. 2011-02-20. Retrieved 2011-04-04.
  27. ^ http://www.google.com/search?hl=en&q=cardhub&sa=N&tbs=nws:1,ar:1#sclient=psy&hl=en&tbs=nws:1%2Car%3A1&q=cardhub+studies&aq=f&aqi=&aql=&oq=&pbx=1&bav=on.1,or.&fp=bc3757e578a738f7
  28. ^ "Q4 2009 Credit Card Debt Study". Education.cardhub.com. Retrieved 2011-04-04.
  29. ^ "Has Personal Debt REALLY Been Going Down? | Personal Finance Corner". Allbusiness.com. 2011-02-11. Retrieved 2011-04-04.
  30. ^ February 7, 2011  (2011-02-07). "Credit card debt rises for first time in two years | Money & Company | Los Angeles Times". Latimesblogs.latimes.com. Retrieved 2011-04-04. {{cite news}}: Text "  2:19 pm" ignored (help)CS1 maint: extra punctuation (link) CS1 maint: numeric names: authors list (link)
  31. ^ Font size Print E-mail Share 3 Comments (2011-02-07). "Credit Card Debt Grows for First Time Since 2008". CBS News. Retrieved 2011-04-04.{{cite news}}: CS1 maint: numeric names: authors list (link)
  32. ^ "Q4 2011 Credit Card Debt Study". Evolution Finance. Retrieved 3/16/2012. {{cite web}}: Check date values in: |accessdate= (help)
  33. ^ "Study: The CARD Act's Impact on Rising Interest Rates". Education.cardhub.com. Retrieved 2011-04-04.
  34. ^ "Credit Card Interest Rates Continue to Rise - Fox Business Video - FoxBusiness.com". Video.foxbusiness.com. 2010-08-23. Retrieved 2011-04-04.
  35. ^ "Study: Banks will lose $14 billion from reduction in interchange fees". Capitol Hill Publishing Corp. 2011-06-09. Retrieved 2011-06-23.
  36. ^ "Evolution Finance / CardHub Recognized as "One of the Five Hottest Companies" in..." (Press release). Reuters. Retrieved 26 February 2011.
  37. ^ "Evolution Finance / CardHub Recognized as "One of the Five Hottest Companies" in the mid-Atlantic Region". Business Wire. September 4, 2006. Retrieved 26 February 2011.
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