Earlier today, Citigroup reported a fourth-quarter net loss of $9.83 billion on subprime-related writedowns and a spike in U.S. consumer credit costs.

In "Mission Impossible," "Minority Report," James Bond movies and even "The Terminator," eyes, fingers and voices are scanned to identify people and give access to secure places and objects. This futuristic type of identification technology, called biometrics, has been featured in movies for decades. Now it is a reality, and it may be the way of the future when it comes to credit cards.

American Express sounded a serious warning for the payment card industry yesterday, acknowledging that its cardholders both reduced their spending and were less able to pay their credit card bills in the final month of 2007.

It looks like the subprime mortgage debacle has begun to spill over to credit cards, with issuer Capital One slashing its earnings outlook amid rising credit card delinquencies.

Consumers relied heavily on credit cards to drive their spending in the run-up to the holiday season, according to recently published consumer credit statistics from the Federal Reserve.

Credit card issuers' reliance on fees edged up another notch in 2007, according to the annual profit/loss estimate put out by respected credit card industry analyst and investment banker R.K. Hammer.

Consumers have been earning airline miles, cash back or points on their credit card purchases for some time. But issuers have begun putting a twist on credit card incentives. Instead of giving cardholders something in exchange for credit card usage, certain banks now reward cardholders for the way they make their credit card payments. TD Banknorth's new Simply Flexible credit card provides rewards for offering up more than just the minimum monthly payment.

Perhaps you have always loved every gift you have ever been given. But more likely, you realize that sometimes good intentions aren't enough for you to overlook how truly horrendous that sweater from Cousin Gertrude looks when you put it on. Personally, I haven't been wild about every gift I've ever received. Recalling how much I enjoyed drawing, a relative once gave me a set of extra large crayons, designed to be easily gripped by the chubby fingers of a "child's small hands" -- when I was twelve. With the surge in gift card giving, that sweater you can't stand may be replaced by a piece of plastic from a store you wouldn't be caught dead shopping in.

Millions of Americans get Social Security payments but have no bank accounts. Under a program announced Friday, the federal government would give these "unbanked" Social Security recipients the option of withdrawing their benefits via a new debit card.

The American Bankers Association today released its quarterly study of consumer borrowing, and the percentage of loans in delinquency rose in several categories, including home equity loans, home improvement loans and auto loans made through dealers. In all, the level of late payments rose to a level not seen since the last recession in 2001.