Your Card Has Been Declined, Just as You Wanted. Citi to be Early Adopter in US.

by Mercator Advisory Group 0

MasterCardis set to announce an enhanced feature that allows credit and debit cardholders to control their spending by way of creating the ability to createlimits that corresponds to set monthly disposable income limits.

Citicustomers will have to wait a bit to use the new MasterCard service. And whenintroduction begins in a few months, it will include only alerts for credit cardcustomers; letting people set their own spending limits will presumably comelater. MasterCard says other banks will add inControl as well, though it won’tsay which ones just yet.

Still, this is the sort of service that makesyou slap your forehead and wonder why it didn’t exist before. It has thepotential to solve the core problem with budgeting: it’s easy to make aspreadsheet and track what you spend, but it’s awfully hard to stick to theplan.

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http://www.nytimes.com/2010/08/14/your-money/credit-and-debit-cards/14money.html?_r=3&ref=your-money