While most of the world is chest deep in a credit crunch, MasterCard has teamed up with Kazakhstan's Kazkommertsbank in launching the Diamond credit card. The diamond-encrusted, gold-laced card will be released in two weeks to an elite population of millionaires who can afford the $1,000 annual fee and won't blink at the $50,000 credit limit.
The growing millionaire population of Kazakhstan is currently at 12,000, and the bank needs only about eight percent of these people to sign up for a card: A total of 1,000 cards will be released and only 30 each month to ensure the card will not be taken for granted as a status symbol.
on Yahoo! |
Consumers are increasingly defaulting on their credit card balances and banks are suffering because of the massive debt write offs due to the defaults. To remedy the situation, an alliance of financial industry interests and consumer advocates 
Dear Savvy,
I have a store credit card with a $1,500 limit that I've had for about six years, which I use occasionally to earn store points. They recently changed their program and switched to an actual MasterCard, and sent me a new card with an $11,000 limit. I did not ask for the new card and I certainly don't need it. 
Turning 30 can be a dreadful birthday for some reluctant 20-somethings, but no matter how full of dread you may be there's a way to gracefully enter the next decade in regard to money management. In order to set you up for smooth sailing, 
For what seems like ages financial gurus have been lamenting that consumers rely too much on credit cards, and finally people have begun to listen — all it took was a failing economy! The Federal Reserve announced on Tuesday that 
Back in June, I mentioned that lenders were beginning 
The years of consumer excess have finally begun to take their toll on retailers — they constantly asked people to sign up for credit cards in exchange for discounts, and now that strategy is backfiring as consumers struggle to pay back their debt. Hopefully those of you that are 
Two ex-MBNA / Bank of America employees 
Fifty-five percent of you 
